[fundor]

Did anyone else get this amendment?
Have you "Personally Guarantee the payment of all amounts owed to greenbox.. without limitation...irrevocably...unlimited, absolute and without condition, and is binding upon heirs, successors..."
I guess my kids will have to owe them on their deals when I am gone...
Wow...
Seems like a setup to steal renewals....
Anyone else ever see anything like this?
I love greenbox and the work that their team puts in. The professionalism, the honesty and the standard Jordan sets. I is refreshing in an industry of so much "mush."

[LYC]

Greenbox is a joke! No reason to sign that or send them a single deal for that matter. After I had a $7K deal get reduced to $6,200 by their "credit committee", I was done with them.

[iso@wallfunding]

While I cannot talk about Greenbox directly, due to having no knowledge of their operations, I can say several of my ISO's have tried them out, and told me they prefer working with Wall. If anyone would like to get to work with us, reach out.

[LucrativeSolution]

Wall is great!!!

[Karen37a]

I am not sure about them either or their agreements

Are they making you guarantee the repayment of a clawback commission? Or defaults in their totality or a % of?

If that's for a 30-day claw back, then maybe

that credit committee thing isn't good

[Sachip24]

they do fund merchants with no social though not to many do. but I have had better experiences as well with other lenders.

[ADiamond]

Did anyone else get this amendment?
Have you "Personally Guarantee the payment of all amounts owed to greenbox.. without limitation...irrevocably...unlimited, absolute and without condition, and is binding upon heirs, successors..."
I guess my kids will have to owe them on their deals when I am gone...
Wow...
Seems like a setup to steal renewals....
Anyone else ever see anything like this?

LOL! what a joke!

[nrh1lp]

If I read that in an ISO agreement I would shred it and never think twice.

[RickyR3712]

Fundor - Your previous posts has been about sticking up for AFN ( the backdoor ISO shop of business credit and capital (BCC)) Doesn't take a rocket scientist to figure out both companies are owned and located by the same owner. Makes sense you lost Everest for double funding and or not paying back bad deals. Now you are worried about guaranteeing a legitimate company who doesn't want you or anyone to double fund or not pay back when a deal goes bad. Something tells me you probably run a scam shop that is what makes you nervous about this. Why point fingers on a company who is putting so much money on killing the scammers and adding internal protection for legitimate ISO shops.
Am i missing something here? Does any legitimate shop need to be worried about this?

[RickyR3712]

Greenbox is a joke! No reason to sign that or send them a single deal for that matter. After I had a $7K deal get reduced to $6,200 by their "credit committee", I was done with them.

That is the number 1 biggest problem that greenbox has and needs to fix.

[The Chosen One]

Is greenbox still funding?

Man those guys fell off.

[mcaguru]

[MCABroker]

I remember the ISO rep would hound us over conversions. When we did a list of the last 10 deals the gave offers on we closed 9 out of 10 of the deals with better offers and 2 of them were at Wall. The one solid offer they gave us was on a used car dealer that was reduced from 150k to 60k day of funding by the credit committee. Lost the deal completely for wasting merchants time.

[Israel Funding]

My internal sales team also sends deals to other fundinng companies. Other companies have the same agreement. I wont name any company.

My company plan on implementing same agreement which is under our attorney review right now.

[Gboxcapital]

Hello Fellow Brokers

Greenbox Capital sets the standard in creating regulation. It is important to protect our merchants, Sales Partners, and ourselves from those who don’t live up to their word, look to manipulate the system, and who may, instead of honoring their agreements, go to the trouble of dissolving their companies to escape consequence. Thus we have introduced the personal guarantee to cover monies due from the ISO to Greenbox. Additionally, if a broker double funds a merchant ( funding occurring at the same time), the owners of such ISO can be held personally liable for those specific actions. The broker is not responsible for any actions of the merchant, Greenbox has and continues to assume that liability.

Our Sales Partners, who have not completed our amendment, will be paid on renewals. Anything to the contrary is untrue. They simply will not be able to submit new business with Greenbox to due not having updated terms and conditions.

We at Greenbox Capital only wish to see our merchants, our ISO Partners and our ourselves succeed! We’re all playing the same game. Let’s also play by the same rules.


For more information on Greenbox policy or programs please call our office at 855.442.3423.

[WestCoastFunding]

Thus we have introduced the personal guarantee to cover monies due from the ISO to Greenbox.

Greenbox will be rolling out the ISO COJs soon.

[skideeppow]

Hello Fellow Brokers

Greenbox Capital sets the standard in creating regulation. It is important to protect our merchants, Sales Partners, and ourselves from those who don’t live up to their word, look to manipulate the system, and who may, instead of honoring their agreements, go to the trouble of dissolving their companies to escape consequence. Thus we have introduced the personal guarantee to cover monies due from the ISO to Greenbox. Additionally, if a broker double funds a merchant ( funding occurring at the same time), the owners of such ISO can be held personally liable for those specific actions. The broker is not responsible for any actions of the merchant, Greenbox has and continues to assume that liability.

Our Sales Partners, who have not completed our amendment, will be paid on renewals. Anything to the contrary is untrue. They simply will not be able to submit new business with Greenbox to due not having updated terms and conditions.

We at Greenbox Capital only wish to see our merchants, our ISO Partners and our ourselves succeed! We’re all playing the same game. Let’s also play by the same rules.


For more information on Greenbox policy or programs please call our office at 855.442.3423.

You are asking us to sign a blanket PG, not one that just addresses the double funding.
I have never double funded and never will, but I am not signing a PG that gives you a right to come after me for anything that goes wrong.
In addition you guys are one of the toughest to do business with. It is painful watching a deal go through you approval and underwriting process.
There are plenty of other people we could do busSinews with.

[Collection Specialist]

For what my opinion may be worth, I can say that the people at Greenbox are some of the most ethical and above board individuals I know. As I read this, they are not going out of their way to hurt anyone. They are asking only to have themselves protected from unscrupulous brokers who as we all know do exist.

As I read this, it seems they only want protection on two fronts. 1) If a merchant is double funded at the same exact time by a broker when they are not supposed to be. 2) If a merchant would breach within the clawback period.

They are not asking that each broker take on the liability of the merchant which by reading these posts it seems that is inferred. As I read it, they are asking that the broker sign a COJ in reference to paying back commissions if a breach occurs within the already established time frame that every funder establishes, and that if a broker goes out of his/her way to double fund a merchant in secret that liability be upheld.

I personally do not see the issue with this because conceivably, everyone has already agreed to this within every ISO agreement. They are simply asking that an additional document be executed to this effect. Clearly, the people who would attempt to "beat the system" would have issues with this but those of you who would do what is required anyways...I don't see the problem. I myself with varied clients had to sign documents of a similar nature but I've never had any concern because it would be inconceivable of me to subvert the contract anyways or to try something untoward.

They are not asking for you to cover the merchant's liability, only yours as already expressed within their agreement I am sure. I fail to see the issue or dilemma. Again, just one man's opinion.

[Karen37a]

Is it a blanket personal guarantee or is it for Clawbacks ( 30 days ) you didn't actually answer the question? Does it say it specifically or spell out the terms in detail? if not it usually considered a blanket personal guarantee like skide said

On a different note

Most Agreements/Contracts ( noncomplete etc ) will never hold up in court if they are "too broad or far reaching"...if it is a blanket responsibility clause that is ambiguous, most states can toss that out and enforce the other provisions of the agreement

Some states toss the agreement out in its entirety



** this is not legal advice. check with someone else

Greenbox will be rolling out the ISO COJs soon.

This is funny. West is available for the mca circuit/trade shows as a stand up comedy act when he is not online

[AndyYSCISOdept]

My main question is this. Lets assume a merchant get money through broker A and then gets money through broker b on the same day what do you as Greenbox do then? Do you go after both brokers? the other funder? No One? I think that is my only real question everything else is pretty straight forward.

[Karen37a]

Good point Andy

But the rest is still not straight forward to me. Anything that is "blanketed" you have to trust that the person is not going to screw you going forwards. So you are giving all the trust to them...but they do not trust you.

Funders have "relationships" with certain Isos and brokers and should know the good from the bad from past experience.If I received that personal guarantee Id be highly offended and Id shred it. Then id pick up the phone " I do not have any defaults, I do not let people stack, I renew with you and you send me this?"

" how about a reverse non compete "

To send that to Good Isos is ridiculous and a sign of things to come.

If not, clean up that language, make it more specific

[RickyR3712]

For what my opinion may be worth, I can say that the people at Greenbox are some of the most ethical and above board individuals I know. As I read this, they are not going out of their way to hurt anyone. They are asking only to have themselves protected from unscrupulous brokers who as we all know do exist.

As I read this, it seems they only want protection on two fronts. 1) If a merchant is double funded at the same exact time by a broker when they are not supposed to be. 2) If a merchant would breach within the clawback period.

They are not asking that each broker take on the liability of the merchant which by reading these posts it seems that is inferred. As I read it, they are asking that the broker sign a COJ in reference to paying back commissions if a breach occurs within the already established time frame that every funder establishes, and that if a broker goes out of his/her way to double fund a merchant in secret that liability be upheld.

I personally do not see the issue with this because conceivably, everyone has already agreed to this within every ISO agreement. They are simply asking that an additional document be executed to this effect. Clearly, the people who would attempt to "beat the system" would have issues with this but those of you who would do what is required anyways...I don't see the problem. I myself with varied clients had to sign documents of a similar nature but I've never had any concern because it would be inconceivable of me to subvert the contract anyways or to try something untoward.

They are not asking for you to cover the merchant's liability, only yours as already expressed within their agreement I am sure. I fail to see the issue or dilemma. Again, just one man's opinion.

Your opinion is not worth anything in this case since you will get more business.

[RickyR3712]

You are asking us to sign a blanket PG, not one that just addresses the double funding.
I have never double funded and never will, but I am not signing a PG that gives you a right to come after me for anything that goes wrong.
In addition you guys are one of the toughest to do business with. It is painful watching a deal go through you approval and underwriting process.
There are plenty of other people we could do busSinews with.

Anyone had a lawyer read it? is it blanket or what gbox is saying it is?

[WestCoastFunding]

GreenBox Capital: We are innovating new ways of ensuring we remain the most annoying company on earth to do business with. No one will ever be more irritating than us, that's a FACT!!

Principis Capital: Hold my beer....

[GoldStandard]

While I cannot talk about Greenbox directly, due to having no knowledge of their operations, I can say several of my ISO's have tried them out, and told me they prefer working with Wall. If anyone would like to get to work with us, reach out.

Wall is Good!