[Andy]

this wasn't an ondeck deal. but either way the iso definitely did not know how to explain anything.. I am trying to figure out how these companies are surviving when they obviously have no understanding of what they are selling

They survive because there is enough businesses that need money and are not knowledgeable of there options that bad brokers/uneducated brokers can still take advantage of . Look how many posts there are on here about people brand new to the industry but yet they think its a good idea to open an ISO or even direct funding lol.
For example we have seen merchants with pearl balances that we got on deck approvals for. They had pearl because they had no idea there was better options available, and pearl was the first company they talked to.

and the ISO can survive because lets face it, there are a ton of ISOs are small home based , they have no overhead so they don't need to fund very much to scrap by