[mbark]

Have a merchant that has a balance with IOU and wanted to pay them off without having the merchant call IOU requesting a payoff letter.

Does anyone have the payoff instructions to IOU that they can send me?

[Yankeeman07]

IOU are simple interest loans, merchant should have his balance.
There is no pre-payment penalty.

[sigmundpannu]

Regardless of his balance the investor you are going through I would think will want. Payoff letter directly from the lender. I've never seen an investor not require the payoff direct from the lender they are paying off. I have the po instructions for IOU because I do loans with them but don't think your new lender will just accept the balance of their account printed out of their IOU portal. In addition to it being simple interest their loan guaranty fee is paid regardless of the balance of the loan.