Underwriting
Default
Definition
Default is a failure to meet the terms of a financing agreement, most commonly by missing scheduled payments.
What constitutes default, and what follows it, is defined in the agreement rather than by general rule — which is why it is worth reading that section before signing. Where cash flow tightens mid-term, raising it early with a lender who has authority to adjust is materially better than missing a payment first.
Express Capital Funding · Direct lender
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