[WestCoastFunding]

Greenbox is the funder that makes ISOs sign a Personal Guarantee, right?

[skideeppow]

Greenbox is the funder that makes ISOs sign a Personal Guarantee, right?

yup, the only one.

[CypressFinancial]

very interesting. Do we know why?

[Mcasalesgod]

why would any broker work with Greenbox if that is the case.

[FCF Fund]

Greenbox is the funder that makes ISOs sign a Personal Guarantee, right?

From what I understand its not a PG for the MCA's you sell but to adhere to the ISO agreement's terms i.e. clawbacks

[WestCoastFunding]

From what I understand its not a PG for the MCA's you sell but to adhere to the ISO agreement's terms i.e. clawbacks

This is correct, but Greenbox said that brokers will be held responsible for double funding a merchant. So say the merchant double funds themself, how will Greenbox determine if the broker was part of the double funding or not?

Greenbox, please explain.

[FCF Fund]

This is correct, but Greenbox said that brokers will be held responsible for double funding a merchant. So say the merchant double funds themself, how will Greenbox determine if the broker was part of the double funding or not?

Greenbox, please explain.

If an ISO has no involvement in double funding a merchant than there should be no paper trail and no guilt to be concerned about. The burden of proof is on Greenbox to support damages caused by intentionally double funding a merchant. So this really is a moot point IMO.

[WestCoastFunding]

If an ISO has no involvement in double funding a merchant than there should be no paper trail and no guilt to be concerned about. The burden of proof is on Greenbox to support damages caused by intentionally double funding a merchant. So this really is a moot point IMO.

What burden of proof is needed? THAT is exactly what Greenbox needs to layout because, it seems, all it would take is an accusation by Greenbox.

[FCF Fund]

What burden of proof is needed? THAT is exactly what Greenbox needs to layout because, it seems, all it would take is an accusation by Greenbox.

Anyone can make accusations and file suit, the old adage applies "its not what you know, its what you can prove". If you are a shady broker intentionally double funding merchants and theres solid evidence of it, the court will award damages to the plaintiff.

An accusation is not sufficient enough to show the court and win the case, so again it comes down to burden of proof on GB to show that an ISO double funded a merchant intentionally. GB doesn't need to lay this out, its on the ISO to be sophisticated enough to know A) dont do it and B) defend yourself legally and C) operate ethically.

[Gboxcapital]

Greenbox is the funder that makes ISOs sign a Personal Guarantee, right?

Greenbox Capital does require a personal guaranty for all those who work with us. The personal guaranty can be waived for ISOs of scale or if the ISO maintains a Financial Institutions bond at least $250,000 in coverage. The personal guaranty is in place if the ISO is not willing or interested in obtaining business insurance to protect all parties, including the ISO itself, from brokers who are misrepresenting the product and/or committing acts of fraud. While some lenders have chosen to cut all or part of their ISO channel, Greenbox has chosen this route to produce the same result. Our Sales Partners are not responsible for any actions of the merchant, Greenbox has and continues to assume that liability of which our agreement clearly defines. Greenbox has and will always be a safe place for above board brokers to do business with.

[WestCoastFunding]

The personal guaranty is in place if the ISO is not willing or interested in obtaining business insurance to protect all parties, including the ISO itself, from brokers who are misrepresenting the product and/or committing acts of fraud.

Wait, so you want brokers to obtain insurance not only to protect themselves, but to protect all parties? Please explain this.

Why would the ISO need to be protected from other brokers?

[WestCoastFunding]

While some lenders have chosen to cut all or part of their ISO channel, Greenbox has chosen this route to produce the same result.

Who? Aside from Swift, who has cutoff their ISO channels?

[skideeppow]

Greenbox Capital does require a personal guaranty for all those who work with us. The personal guaranty can be waived for ISOs of scale or if the ISO maintains a Financial Institutions bond at least $250,000 in coverage. The personal guaranty is in place if the ISO is not willing or interested in obtaining business insurance to protect all parties, including the ISO itself, from brokers who are misrepresenting the product and/or committing acts of fraud. While some lenders have chosen to cut all or part of their ISO channel, Greenbox has chosen this route to produce the same result. Our Sales Partners are not responsible for any actions of the merchant, Greenbox has and continues to assume that liability of which our agreement clearly defines. Greenbox has and will always be a safe place for above board brokers to do business with.

Really? Funny how when i argued about signing this you never mentioned the insurance option. Because i have insurance and am bonded. You never explained that option when i signed years ago.

You guys have zero attention to detail.