[Triton]

Has anyone heard about Swift offering ISO's a $1M line of credit if they can fund $500k in a month?

[Chambo]

yeah, THAT makes a lotta sense. Sounds like someone is desperate for business

[FUNd]

yeah, THAT makes a lotta sense. Sounds like someone is desperate for business

LMAO, Swift.

[CaptainCash]

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....

[Triton]

I would assume the same. Only reason I bring it up is because I hired a rep who came from another ISO and they were telling me about a letter the previous company received from them with that offer.

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....

[MCAVeteran]

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 -

[mcaguru]

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.

[Zach]

It's probably just a LOC for syndication.

[Triton]

That's what I assumed as well but it still seems too good to be true. Who wouldn't take advantage of that?

It's probably just a LOC for syndication.

[Funder Mark]

There has got to be some serious strings attached.

[Triton]

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.