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10-13-2016, 07:57 PM #1
Reputation points: 10
- Join Date
- Oct 2014
- Posts
- 30
What Lenders Are Discounting Remaining Balance On MCA Renewals?
I ask this question because I have a client I have been working with for about 2 years now and the lender I've been working with does not discount on MCA renewals.
The buy rate at 12 months is a 1.26, would like to possibly get him additional money where the lender will discount his remaining balance whenever he renews. I could see this merchant renewing for multiple years in a row.
Merchant owns a restaurant that grosses approximately 3.5 million a year, the business is seasonal, summer months are bringing in about 600-700k. For this specific reason he only wants a credit card processing deal, daily won't work for him.
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