Glossary
Paying off an existing advance with a new one so the old agreement is closed.
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Paying off an existing advance with a new one so the old agreement is closed.
A new funder pays the balance to the original funder. The business then owes the new funder under new terms.
It replaces one obligation with another, so the net effect must be better.
A $30,000 balance bought out by a new $45,000 advance leaves about $15,000 in new cash before fees.
Buyouts are common when a business wants a lower payment or a better structure.
A buyout begins with the payoff figure: the exact amount that closes the existing agreement on a stated date. The reviewer compares the new payback and net cash with the current balance and payment to confirm the move improves the month, not just the headline.
A buyout is not free money. The new agreement carries its own total, so the question is whether the lower payment or extra cash justifies it.
Often, but check that the total is acceptable.
See the related guides and the comparison pages, or apply and ask.
No. It is educational information, and agreements vary.
Educational information only. It is not legal, tax or accounting advice.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
