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12-16-2015, 12:39 PM #1
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Swift Million Dollar line of Credit
Has anyone heard about Swift offering ISO's a $1M line of credit if they can fund $500k in a month?
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12-16-2015, 01:20 PM #2
yeah, THAT makes a lotta sense. Sounds like someone is desperate for business
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12-16-2015, 01:27 PM #3
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12-16-2015, 01:32 PM #4
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I bet it is only for ISOs to syndicate on their platform. I bet there is a high management fee to manage it and the line probably is not very cheap....
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12-16-2015, 01:48 PM #5
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12-16-2015, 06:08 PM #6
I've heard of larger funders offering marketing capital on a performance based contract which allows funder to build a moat around ISO and get first right refusals with claw backs of quotas aren't met quarterly or annually -
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12-17-2015, 10:33 AM #7
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Its very common in the merchant processing arena for the back-end processors to offer serious dollars to ISO's (millions) to use their BIN (term used in the industry). I.E. leave current processor. the float/Processing Volume of 30,000 Merchants can be around 4-9Billion Annually for the processor.
however they use the current Merchant Portfolio as collateral not sure how Swift would secure a Million Bucks that was all drawn down by an ISO that stops performing 500K a month or goes under or etc.Last edited by mcaguru; 12-17-2015 at 10:35 AM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-17-2015, 02:13 PM #8
It's probably just a LOC for syndication.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-17-2015, 04:03 PM #9
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12-17-2015, 04:06 PM #10
There has got to be some serious strings attached.
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12-17-2015, 05:03 PM #11
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- Apr 2015
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I spoke to my contact at Swift. He hasn't heard anything of the sort other than their usual monthly bonuses.
So, I'll just dump this one in the bul**hit pile.
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