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10-05-2020, 07:42 PM #1
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10-08-2020, 09:56 AM #2
Interesting development
So we sent the 4 apps out and ended up a grand total of 2 applicants that came back. Mind you this was after the research that we discussed accordingly in the thread to make sure we were spot on here are the results of the 2 applicants
Applicant one - after sending in his banks we sent out a decision logic link because we had thought the banks looked altered and we won't send out a pack with altered banks (hence why we have decision logic) merchant refused DL so the package was declined immediately
Applicant 2 - Sent in strong pack and banks - upon further investigation discovered the applicant is also the principal broker of a ISO shop in the MCA business, after we sent the denial- Metro rule is we cannot fund a ISO shop on a product here of any kind- we discovered the ISO shop approached us 3 hours later under another company name asking to sign up as a ISO at Metro to send deals through us, and we declined that too.
Sum it up, Some metro staff questioned if that ISO and the lead providor were tied together but I do not believe they were, I would certinly think it would be a fluke, but a good enough fluke for me to keep doing what we have been doing and that is to continue organic origination
We do appreciate your time
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