--- title: Commercial Loans and Fun Blog | discounted pay off description: discounted pay off | George Blackburne, owner, offers insight into the commercial loans and mortgage industry in this Commercial Real Estate Loan Tips blog. --- [![c-loans-logo-2025](https://info.c-loans.com/hs-fs/hubfs/images/c-loans-logo-2025.png?width=183&height=86&name=c-loans-logo-2025.png)](https://c-loans.com) [Terms of Use](https://www.c-loans.com/terms-of-use) | [Disclaimer](https://www.c-loans.com/disclaimer) | [Blog](https://info.c-loans.com/) # Commercial Loans and Fun Blog ## [NPN, DPO, and White Box Finish](https://info.c-loans.com/bid/53599/NPN-DPO-and-White-Box-Finish) Posted by [George Blackburne](https://info.c-loans.com/author/george-blackburne) on Mon, Sep 13, 2010 - [Tweet](https://twitter.com/share) *Learned a Few New Commercial Finance Terms This Week* Even though I have been working in commercial real estate finance for over 30 years, I still learn new terms and concepts all of the time. Here are a few new ones: **NPN** - The acronym, "NPN", stands for for Non-Performing Notes. **DPO** - The acronym, "DPO", stands for discounted pay-off. In recent weeks I have personally learned of a bank selling a $17 million performing loan for just $7.5 million. On another deal a group of banks are willing to sell $37 million of debt for just $8 million. I love working on DPO deals (discounted pay off deals). Do you have a bank willing to accept a big haircut to get rid of a note? Please call me directly, George Blackburne III (the old man) on my cell at 574-360-2486 or email a deal to me to **[george@blackburne.com](mailto:george@blackburne.com)**. In the subject line, please type the words, "DPO Deal." **White Box Finish** - This implies a finished unit that is missing only those items that the prospective owner or prospective tenant will choose, such as the type of counter-top, the carpeting, the color of cabinets, and for office or retail space, the location of the bathrooms and interior walls. 0 Comments [Click here to read/write comments](https://info.c-loans.com/bid/53599/NPN-DPO-and-White-Box-Finish#comments-listing) Topics: [discounted pay off](https://info.c-loans.com/topic/discounted-pay-off), [DPO](https://info.c-loans.com/topic/dpo), [non-performing loans](https://info.c-loans.com/topic/non-performing-loans), [non-performing notes](https://info.c-loans.com/topic/non-performing-notes), [NPN](https://info.c-loans.com/topic/npn) [All posts](https://info.c-loans.com/all) ### George Blackburne III Owner of C-Loans, Inc. ![George Blackburne III C-Loans Owner](https://info.c-loans.com/hs-fs/hubfs/George%20Head%20Shot%20Small%205%20by%207%20copy.jpg?width=158&name=George%20Head%20Shot%20Small%205%20by%207%20copy.jpg) ### Subscribe via E-mail ### Connect with C-Loans ## [![Get the Latest Scoop on C-Loans Inc.](https://no-cache.hubspot.com/cta/default/37671/bacfb58b-143e-40d7-b126-33c182b5b90b.png)](https://cta-redirect.hubspot.com/cta/redirect/37671/bacfb58b-143e-40d7-b126-33c182b5b90b) C-Loans.com® is sponsored by  C-Loans, Inc. — For more information, contact Tom Blackburne 555 University Ave., Suite 150, Sacramento, CA 95825 Telephone: (916) 338-3232 x 317 * Tom Blackburne in Indiana: (574) 210-6686 * Fax: (916) 338-2328 Real Estate Broker -- California Department of Real Estate -- License Number 01330173 Arizona Dept. of Financial Institutions – License Number 0909472 The Florida Mortgage Brokers License Number: 0708758 [Read our many client Success Stories](https://c-loans.com/mortgage-brokers-overview/success-stories/) » © 2025 C-Loans, Inc. All rights reserved.