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Updated almost 4 years ago on . Most recent reply
Exclusive Retention Agreements w/ Commercial Financing?
Hey folks - is it common to sign an exclusive retention agreement with a commercial financing company? I'm reviewing a document that requires me to be exclusive to my commercial financing company for up to 5 years (based on the lenders they introduce me to)... seems a bit extreme and also carries a $10K termination clause.
Net-net: I would owe them an origination fee of 1% irrespective of which lender I use. Is it foolish to sign this thing?