[closer0129]

I had that happen to me over 10 years ago when i first started. Rapid saw he had 2 advances but one was paid off and asked me for a million stips and then declined it but the underwriters and iso rep never answered my emails or calls to let me know and the owner of my then company had to call and find out. If you are willing to deal with that to hopefully get a great offer just let your merchant know so you do not have to tell them last minute your offer that you signed contracts on was declined. My company tmrnow has competitive buy rates on shorter compared to rapid and we do not refinance the merchants balances like they do and everyone else does so they renewals are double the cost. We pay same on renewals as we do on the first deals as well. We try to underwrite as much as we can upfront so after contracts are signed our percentage of declines are very low. The only time we have to decline a file after contracts signed is we find out on a zbl merchant defaulted first or the bank login shows they are negative unless it is a cc split and balances are already bad or they got funded by a new company right before or a very bad criminal back ground. So if the iso asks the right questions and handles the merchant the right way that can eliminate a lot of the last minute declines but you still have merchants that will lie and hope not to get caught and that will always happen.

[mondial99]

You wrote that your company has competitive buy rates on shorter terms compared to rapid and you do not refinance the merchant's balances as they do and most everyone else does. What company are you with?

David McCarthy
McCarthy Merchant Capital LLC
Hawthorne, NJ 07506
www.mccarthymerchantcapital.com
david@mccarthymerchantcapital.com
717-622-2784 (717-MCCARTH)