10% Closing Cost Rediscovered. Previously Thought to be Extinct

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At least two merchants have approached us in the past 30 days and requested an unbiased opinion on whether or not they were getting a good deal. Given that our site rarely gets such requests, we found it quite shocking that BOTH contracts submitted to us for review included a closing fee equal to 10% of the funded amount.

Thought to have gone extinct shortly after the West African Black Rhino, 10% closing fees seem to have made a resurgence in the back corners of big urban phone rooms. While our official position is neither for or against the addition of service fees, almost everyone can agree that 10% is clearly excessive. Some companies just don’t get it. The secret to a successful business relationship is one where all parties benefit.

We won’t name any names here but if someone asks us if they’re getting a good deal with a 10% fee attached, we’ll let them know the truth “no.”

-The Merchant Cash Advance Resource

http://debanked.com/merchantcashadvanceresource.htm

Last modified: February 21, 2013
Sean Murray


Category: merchant cash advance, MPR Authored

Home merchant cash advance, MPR Authored › 10% Closing Cost Rediscovered. Previously Thought to be Extinct




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