Looking for ISOs: Refinancing Merchant Cash Advances to a 24 to 36-Month Term Loan
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  1. 04-24-2020, 01:37 PM #15
    WestCoastFunding
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    Quote Originally Posted by KanjorskiPartners View Post
    No we do not tell merchants to stop paying their old advances. We pay off their MCAs and get them zero balance letters. We roll it all into one loan at the par value owed on a 24 to 36-month amortization with one monthly payment.
    When you negotiate a lower payoff amount with the MCA funders, is the merchant made aware of this? Specifically, do you tell the merchant what the negotiated payoff amount would be, or are they kept in the dark?
    Last edited by WestCoastFunding; 04-24-2020 at 01:59 PM.
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