[SPC]

What kind of experience do you have with response time with a new lender?

I've been in communication with one for the past 5 days. He sent me the ISO agreement in the first email, but I noticed the ISO Agent address was somebody else's and the signature dates were from years ago. I've been requesting a blank agreement for the past 3 days and he hasn't provided it, not even acknowledging the mistakes or if he'll resend.

Meanwhile, I've already submitted 2 small deals first to learn their UW process and to show we are legitimate. He's been responsive with "quotes", but nothing I'd call official. I've made it clear that the merchants are urgent for funding immediately.

I know I probably shouldn't expect the best service from a "high-risk" lender, but don't they want to make money too?

[JSL23]

What kind of experience do you have with response time with a new lender?

I've been in communication with one for the past 5 days. He sent me the ISO agreement in the first email, but I noticed the ISO Agent address was somebody else's and the signature dates were from years ago. I've been requesting a blank agreement for the past 3 days and he hasn't provided it, not even acknowledging the mistakes or if he'll resend.

Meanwhile, I've already submitted 2 small deals first to learn their UW process and to show we are legitimate. He's been responsive with "quotes", but nothing I'd call official. I've made it clear that the merchants are urgent for funding immediately.

I know I probably shouldn't expect the best service from a "high-risk" lender, but don't they want to make money too?

I would try someone else. If they can't even send you a proper ISO Agreement are you going to trust them with your Merchants and paying you on time?

[SPC]

JSL23, I agree. It's been an off putting experience so far with them. The lender is actually frequent on this board, but maybe it's the rep I've been in contact with....

If there are any ACH lenders specializing in high risk businesses and have quick turnaround (important to us and our clients), please let me know!

[1StopFunding]

SPC I sent you a message that I could give you some names. Try Mark Fuchs @ Horizon Business Funding..they are very quick and can fund same day in some cases. Cresthill is another good funder for high risk.

[MCNetwork]

Well since you're talking about a high risk ACH lender who's frequently on this board you're probably referring to Yellowstone...

Yes the underwriting is very slow at times and they're not too responsive to emails but it's probably due to the heavy volume in their office.

Try Cresthill Capital. They are made up of some Yellowstone alumni and they are pretty fast...so far

[Regium]

You can shoot me an email, we do some high risk deals
mike@hcapitaladvance.com

[mfs01]

What kind of experience do you have with response time with a new lender?

I've been in communication with one for the past 5 days. He sent me the ISO agreement in the first email, but I noticed the ISO Agent address was somebody else's and the signature dates were from years ago. I've been requesting a blank agreement for the past 3 days and he hasn't provided it, not even acknowledging the mistakes or if he'll resend.

Meanwhile, I've already submitted 2 small deals first to learn their UW process and to show we are legitimate. He's been responsive with "quotes", but nothing I'd call official. I've made it clear that the merchants are urgent for funding immediately.

I know I probably shouldn't expect the best service from a "high-risk" lender, but don't they want to make money too?

I would stop submitting files to that "funding company" and make sure that you stay on top of your files - This sounds like a classic case of an ISO posing as a funding company and might just be looking to broker your deal.
give us a shout if you need any help.

MFS Global
isosupport@mfsglobal.com
702-473-1145

[channin19]

SPC I sent you a message that I could give you some names. Try Mark Fuchs @ Horizon Business Funding..they are very quick and can fund same day in some cases. Cresthill is another good funder for high risk.

Horizon Funding is just the ISO arm of Pearl Capital

[isaacdstern]

This week is a little rough for us considering a few of our underwriters are religious jews...but to throw out a few stats in the last 3 months we are averaging funding 22 deals a day for outside isos and have paid out $2.8MM in commissions in the first quarter to outside agents.

Well since you're talking about a high risk ACH lender who's frequently on this board you're probably referring to Yellowstone...

Yes the underwriting is very slow at times and they're not too responsive to emails but it's probably due to the heavy volume in their office.

Try Cresthill Capital. They are made up of some Yellowstone alumni and they are pretty fast...so far