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M&A Seller Financing: Third-Party Loan Servicing

PostedSeptember 5, 2023
UpdatedSeptember 5, 2023
ByCBGabriel

Introduction

Curious about the role of a third-party loan processor?

If you’re considering financing the sale of your business, rest assured that a seasoned third-party loan processor can expertly manage every facet of payment collection, crediting, and disbursement from third-party sources. They streamline the day-to-day administration of your loan collection process.

Wondering why you should opt for a third party to handle payment administration?

Entrusting payment administration to a third party simplifies your record-keeping responsibilities, liberating you from the hassle of managing late payments and allowing you to focus on more critical aspects of your business. This approach also helps nurture a strong working rapport with the buyer, with an independent third party acting as a buffer in case payments ever arrive past their due date.

If you’re eager to explore the capabilities of third-party loan processors and discover the key players in this field, look no further; we’ve got you covered.

Services Offered by Third-Party Loan Processors

These companies offer a comprehensive range of services, including:

  • Precise monthly payment accounting, efficient processing, vigilant monitoring, proficient collections, prompt receipts, and timely notifications.
  • Expert setup, secure storage, and meticulous maintenance of records, along with the provision of annual payment history reports.
  • Skillful reserve accounting, well-structured amortization schedules, detailed account history ledgers, and accurate payoff quotes.
  • Streamlined, hassle-free automatic (ACH) payments directly from the buyer’s account to the seller’s checking account.
  • Competent handling and prompt processing of late payments and late notices.
  • Precise calculation of interest, late charges, and due dates to minimize potential disputes.
  • Timely mailing of 1098 and 1099 interest statements to all relevant parties and the IRS.
  • Valuable referrals for selling your contract.

Companies

Explore these companies:

  • Automatic Funds Transfer Services | http://www.afts.com/ | 206-254-0975
  • Payment Servicing Corporation | https://paymentservicingcorporation.com/ | (406)-257-8186
  • Accruit | https://www.accruit.com/ | (866) 397-1031
  • Escrow Services, Inc. | http://www.escroserv.com/ | (800) 654-7870
  • MidWest | http://www.midwestassetacceptance.com | (585) 377-2810
  • Gregory Funding | http://www.gregoryfunding.com | (888) 324-3578
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