[WestCoastFunding]

because they will still owe CAN 12K, and CAN already said they will not provide a zero balance letter unless it's paid. And settling for less than the agreed total is even worse then not getting a payoff letter. They will never be able to get money again.

Why would they owe them? This is simply a negotiated settlement to payoff early. In return for paying off early CAN simply agrees to take a haircut (as theyve been offering for a long time).

I literally had a client that owed CAN $76K and got CAN to agree to $60K so the merchant could meet the 50/50 split on a new $120K advance from another funder. They had no problem with it, nor did the new funder.

CAN needs money, and will take a haircut to reduce their risk and bring in cash. They'd rather take a small haircut, then risk being stacked right now.

[mcg168]

Why would they owe them? This is simply a negotiated settlement to payoff early. In return for paying off early CAN simply agrees to take a haircut (as theyve been offering for a long time).

I literally had a client that owed CAN $76K and got CAN to agree to $60K so the merchant could meet the 50/50 split on a new $120K advance from another funder. They had no problem with it, nor did the new funder.

CAN needs money, and will take a haircut to reduce their risk and bring in cash. They'd rather take a small haircut, then risk being stacked right now.

Not that this will be the biggest concern, especially right now, but they will never be able to get money from CAN again. They will be labeled as 'Negative History - Settlement'