[Quickfunder]

We just signed up with a new lender. We submitted them two files but they are requesting the merchant sign a 'Standard Authorization Form', even though our in-house Application gives permission to run credit. The Authorization Form also gives permission for any 'Recipient' to request any reports/statements from creditors or financial institutions it deems necessary; essentially, allowing the lender to collect statements without the ISO.

My other problem with this is that it implies we'll have to send this to every merchant after they've submitted; as we of course don't know who we're going to submit it to upon sending the merchant our own application. It looks bad to have them sign essentially the same thing again.

Does anyone else work with these? Not any one of the other lenders we work with make us do this. But don't get me wrong - some have asked us upon signing up that they require their own application to be signed by the merchant, which we've rejected each time.

[Chambo]

Some funds ask that their own app be signed.

They can request what they want unfortunately. If you don't like it, don;'t submit there

Probably best to grin and bear it until you fund some volume with them

[Quickfunder]

I should add - the release form is on their standard app as a separate page. So I just consider it a risk that it can essentially be added to their own app.

BTW, Chambo - you once told me to never get another lender's app signed

[Zach]

Just take the app over the phone, and when you quote the client ask for the app from the lender you plan on placing them at.