[Mmarano]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

I have a company that designs and manufactures thin film coating systems

At the end of November they did a $60k loan with Cresthill/Mantis for 4 months,
however it took them 5 months to pay it back, there were several missed payments, but didn’t default.

No current advances

They DO NOT take credit cards

Month Deposits Avg daily balance negative
June $503,636 $28,886 3
May $157,001 $7,314 2
April $154,468 $3,452 14

There are no BK, tax liens, judgments, owner has clean credit.

Been in business since 1991, 15 employees, average $3MM gross sales annually

Any lenders interested in looking at this file?

[J.Celifarco]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

[Chambo]

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

that is standard

[J.Celifarco]

that is standard

I know just like to confirm different banks have different policies.. The other option would be if they know what deal it is and with the info given they probably do would be to reach out to the iSO with a heads up to call their merchant. This is an existing ISO of theirs I am sure they would appreciate that info and the bank looks good in the merchants eyes.. win win for everyone

On a side note Sigmund be careful how much info you put in the post because now they can try to get the merchant back

[Mmarano]

Yes sir. This is not as aggressive as some other companies but we take an active role in making certain our partners are able to renew their deals and maintain the book.

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

[Michael I]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

that is your best bet if you are . otherwise try loan me