[Quickfunder]

We have a deal in which the lender outsourced it to an ISO. Merchant said ISO cited our approval. Planning to report straight to the top but interested in hearing anyone's advice who has dealt with something similar.

[funding pro]

Before escalating it, make sure without 100% doubt this is what happened. I have found that in most of these situations the merchant was lying to me and was simply shopping around. If it is the funding companies in house ISO, tell them you want to see the original lead that was produced for it if they try and tell you they generated it themselves.

[Jared_Weitz]

I actually just had that happen with me. We sent a deal to RCF in Miami. Then my merchant called me and said someone from Fundzio called them and needs docs. Turns out RCF & Fundzio have a relationship, someone in RCF's office sent it over to Fundzio.......RCF claims to have fired that person but who really knows. Def need to be careful out there. Funding Pro is right that more often than not it is a merchant lying, but there are cases where funders backdoor deals......

[Andy]

This happened to us with 2 funders a few years ago, we stopped doing business with those lenders and happy to say no problems since. There is not much you can do, its very hard to be able to PROVE 100% with evidence that they did this, even though you know. Best just to take your business elsewhere, there are many many reputable funders out there that won't steal your deals. No reason to work with funders like that.

[MCNetwork]

That also happens to me from time to time. Unfortunately it's impossible to prove where the leak is coming from especially when you send a submission to 3-4 funders at a time. There are several eyes at each funder who come in contact with a submission and it's too easy for an employee to be tempted to try and monetize these leads. I just accept it as a cost of doing business.

[Quickfunder]

In this case, it's pretty evident given the ISO calling the merchant knew the terms of our approval to quote something better. My feeling is this ISO is syndicating on it.