[MCNetwork]

Depends on the funder and the experience of the ISO. You wouldn't approach an Advance Me, Rapid Advance or On Deck Capital asking "what can you do for me" but you can certainly ask that question of the new players who are eager to sign up ISOs. I do it all the time!

[Duvdevan]

Depends on the funder and the experience of the ISO. You wouldn't approach an Advance Me, Rapid Advance or On Deck Capital asking "what can you do for me" but you can certainly ask that question of the new players who are eager to sign up ISOs. I do it all the time!

What's the best and worst answer you've gotten so far from asking that question? And, what were you looking for?

[MCNetwork]

What's the best and worst answer you've gotten so far from asking that question? And, what were you looking for?

Everyone pretty much pitches themselves the same way so there were no best or worst answers. The proof comes once you've started working with the funders. The main things I look for when dealing with a funder are:

1. Speed of underwriting (within 24 hours)
2. Ease of funding (within 7 business days MAX)
3. Flexibility of underwriting staff to tweak programs according to merchant's needs
4. Competitive commissions
5. Good approval ratios, meaning their UW guidelines are not overly strict
6. Timely notification of merchants who are eligible for renewal
7. Competitive factors/buy rates
8. Honesty and professionalism

If any of my funders fail on the above criteria, I start looking elsewhere. I keep about 6 funders in my current rotation who meet all of the above criteria. In order to add another funder to my list, they need to be able to service industry categories that my current funders don't service.