[Regium]

They take a large percentage upfront in fees, and then pay i believe 5pts on net funded amount.

My problem is that they can call your merchants at anytime, and close the deal right under the ISO's nose, and then just wire the commish (happened to me...)
Anyone else besides me see this as a problem?

[channin19]

How is the approval process with LoanMe?

[Andy]

They take a large percentage upfront in fees, and then pay i believe 5pts on net funded amount.

My problem is that they can call your merchants at anytime, and close the deal right under the ISO's nose, and then just wire the commish (happened to me...)
Anyone else besides me see this as a problem?

Im with you on this one. Terrible process from our point of view. They claim because they are a licensed lender, they need to take the app over the phone with the merchant, so as an ISO we send them a signed app, then they call the merchant retake app and make the offer directly to the merchant. And wont directly tell the ISO what rate the merchant was approved for (they will tell us but in a roundabout way) Explanation doesn't add up to me, there are plenty of other direct lenders that accept ISO apps and issue the approvals directly to the ISO. We would do much more business with them if they would improve the process