Results 1 to 16 of 16
Threaded View
-
04-13-2023, 04:46 PM #1
Reputation points: 10
- Join Date
- Apr 2023
- Posts
- 2
Considering starting an ISO
Hey everyone!
I have a friend who has been doing an MCA/ISO now on his own for around 3 years and thought I would be good at it. I got the chance to spend a few weeks with him and seeing what he does and I've decided to dig in a little more. I've been in the small business loans with a local credit union and then got into judgment enforcement, so if you have a debtor and a judgment please let me know I've collected in 20 different States.
I have a few questions if anybody can help me out, and I apologize if this isn't the best forum but nothing else made sense to me.
Lenders
- What exactly is a lender called? I've seen a few lenders on this board but my question is there an exact term? For example I am starting an ISO.
- Are there any lenders who are new ISO friendly?
- When singing up with a lender, is there NDA or no contact agreement with the merchant? I only ask because my friend is always worried about the lender going around them for the deal.
Merchant
- I've heard there are a few states which you don't really want to do business in, is this just a rule of thumb or is there actual legislation?
Leads
- I've read that paying for leads with bank statements is just a waste of money, I feel like this probably isn't 100% true, but just very expensive.
- Can anybody recommend a leads source they trust?
Debots
- I really don't have any questions here, I'd actually like to purchase some of the debt or if someone has some judgments I'd work them as well. I feel like this could be a benefit in terms of a relationship with me and the lender.
Similar Threads
-
Starting over with $0 debit & an 800 FICO. What would/did you do next?
By Winning in forum Everything elseReplies: 6Last Post: 04-06-2021, 10:30 AM -
Commercial Mortgages starting at 25k
By JackMiller in forum All Other LendingReplies: 0Last Post: 09-01-2020, 01:28 PM -
Fraud deals starting to come from GA
By Dfunds in forum Merchant Cash AdvanceReplies: 4Last Post: 03-27-2019, 01:49 AM -
Starting the drive
By FundingStrategist in forum Everything elseReplies: 0Last Post: 10-03-2018, 07:10 AM -
Funding starting at $10MM+
By apeters40 in forum Deal BinReplies: 7Last Post: 12-12-2017, 12:07 PM