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.