Quote Originally Posted by Nick View Post
Hi everyone. I am new to the business so I need a bit of guidance on this. I helped fund a merchant with a loan. He signed an ACH agreement for my fees I was able to get him funded. Here is my question who do I use to collect the fees from his account? Any help would be appreciated. Thank You
I want to add something else to this whole conversation, where did you even get the template for your "ACH agreement"? ACH agreements between you and the customer must conform to your ACH Processor's requirements. You can't just make a form that says "merchant agrees to be ACH'd" and have them sign it and expect it to be automatically okay for you or someone else to debit them.

Did you copy and paste someone else's agreement? It's possible that your ACH agreement isn't valid even if you had your own ACH account. It sucks that you are learning this all after the fact. I hope that Funding Circle at least paid you well on the deal. You may have to kiss your closing fee goodbye unless the merchant is willing to send you a check.