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12-08-2021, 12:21 PM #1
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- Join Date
- Feb 2018
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Almost EVERY funder has a retail arm that brokers out deals. National, Reliant, Mulligan, Rapid, Fora, ODC, IOU, ARF, and many more companies send deals off to other funder's to monetize their lead flow. Some even go through large marketplaces like Lendio. There is nothing the broker can do about this. As a matter of fact, if you read the ISO agreements, it spells out exactly how they can do this as they state it is "their customer" once you send it to them or they fund it. Many agreements also mention "Other products or services" which means many funder's are soliciting merchants for equipment financing, factoring, merchant services, and many other revenue generating products or services. Than there is the non performing accounts that funder's ship off vs renewing to other funders. Some funder's acquired an ISO and use that ISO as their own arm for sending out deals.
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