As all of you know, not all Applications are created equal. Some are simple, Merchant deposits $50k-$60k monthly, 2 or 3 deposits a week, $2500+ average balance, 600+ credit, no outstanding liens, etc. The only difficulty is choosing the right Lender to send it to. Then there are the interesting ones. April-$100,000 in deposits, 0 NSF, but then in May the Merchant only deposits once a week totaling $25,000. Low 500 FICO, couple of smaller liens, semi risky industry.....you get the picture. Oh, and the Merchant won't take less than $50,000. That one just might be a bit challenging!!

For instances such as the 2nd example, what do you all think about charging a Due Diligence Fee, FULLY REFUNDABLE at the time of funding? Maybe $1000-$2000. Time is money after all, and more likely than not, you will be spending quite a bit of it on this file. You would also refund if you were just unable to get an approval. I know that some larger Investors in other areas do charge these types of fees quite commonly, its almost par for the course I hear. On a side note, it may also make the Merchant a bit more emotionally invested in the process if he/she has some "skin in the game."

Again, this would only be for the more complex submissions.....Thoughts?