[Lender Of Gold]

Looking to sign up as an ISO but their webpage offers no direct link...recall reading on the forum they stopped accepting ISOs a while back. Feedback anyone? Thanks in advance

[mcaguru]

first look into working with us (if your not already lol) Tom Dool would be the one to reach out regarding that ..However i have no idea if they are taking new ISO's ...would not surprise me if they stopped.

[StipMeBabyOneMoreTime]

I don't understand why anyone would stop accepting new ISOs.

[Quick Funding Solutions]

I don't understand why anyone would stop accepting new ISOs.

Some of the biggest companies dont accept brokers at all, brokers could add a component that throws off all other metrics!

[ryan $]

Some of the biggest companies dont accept brokers at all, brokers could add a component that throws off all other metrics!

If they are overwhelmed with the amount off submissions they get , why would you keep signing ISO's up only to have your process negatively impacted.

Id rather a company shut down new isos until they can service said ISO the proper way and the way they intended to

[fundingsmbs]

I don't understand why anyone would stop accepting new ISOs.

too much fraud and bad debt and for first position anti stacking companies, knowing a lot of brokers stack, poses addtl risk. I think they mentioned @ broker fair 60% of their business is all direct sales. They accept brokers, just not all of them who call them.

[Quick Funding Solutions]

Here is an example that just happened to us- We accepted a broker without properly vetting them last week. We gave the broker an approval on the first deal they sent us, we were ready to Fund on a Friday but the merchant didn't get on the funding call, we had to wait until the following Tuesday to get on the call with the merchant, so by that time we asked for bank login again, upon login we noticed an $8,000 wire came in from a different Funding Company on Friday followed by a $7,500 broker fee.... to the SAME BROKER that sent us the deal, so the merchant really only netted $500! The wrong broker can through off even the most perfect algorithm- big companies especially need to be very careful with brokers.

[StipMeBabyOneMoreTime]

Here is an example that just happened to us- We accepted a broker without properly vetting them last week. We gave the broker an approval on the first deal they sent us, we were ready to Fund on a Friday but the merchant didn't get on the funding call, we had to wait until the following Tuesday to get on the call with the merchant, so by that time we asked for bank login again, upon login we noticed an $8,000 wire came in from a different Funding Company on Friday followed by a $7,500 broker fee.... to the SAME BROKER that sent us the deal, so the merchant really only netted $500! The wrong broker can through off even the most perfect algorithm- big companies especially need to be very careful with brokers.

I understand the perceived risk going through an indirect channel, but to turn off the channel entirely is strange, that's all.

[ryan $]

I understand the perceived risk going through an indirect channel, but to turn off the channel entirely is strange, that's all.

That new company FundRite isnt accepting new ISOs at the moment - and we arent a small shop, we put up big numbers monthly.

word just gets out especially if they are offering products/terms that are great - the word spreads and new ISO's flock to said ocmpany

[mcaguru]

Mantis/Cresthill will ALWAYS accept NEW ISO's and out of the thousand+ ISO's we have i can use half a hand to count the ones we ever cut-off.

(in-fact ill tell you a true story that recently happened --Someone in my office said this iso of ours google his name and low and behold i was reading about his arrests and charges and all looked terrible --my heart started pounding i quickly had his metrics pulled up and to my surprise his portfolio was one of the strongest performers. My point is someone could have gotten caught up in something back-in his days and still be a good honest actor in a new venture -- with that said have his deals been going Bad i would have known early on.

[MCNetwork]

Send an email to Eric Roberts (eroberts@nationalfunding.com)

[WestCoastFunding]

Lets be honest: 50% of ISOs are dummies. The dumber the ISO, the more hand-holding they require from the rep at the funder. - and that hand-holding costs the funder money. But how much return do you get for the cost of hand-holding? Sometimes its just not worth it. So I'm not mad at funders being super-selective with their ISO programs (as National is). Apparently they want to visit your shop as part of the onboarding process to see if your legit a sizable.

[fundingsmbs]

If you were the funder, you would do the same. It just make's sense. the credit lines you obtain, and covenants those have attached ,force you to have fiduciary responsibility. Part of that is where you originate the business from. I think the lower credit strata funders and high risk don't mind as much where it comes from but the first position funders with brand awareness and credit lines need to be careful. on the comment of giving a broker a second chance if they were a past felon, I would have to disagree. Especially if it were a financial svc felony. Why would you want those channels sending you business? Some don't cutoff officially ISO's but the one's that are issues, they just decline all their business until they get the message and go away.

[fundingsmbs]

the leads.....they want the leads....^ that would be the only reason.