Funders(or brokers if you know), will the docs or stips you require with a submission change over the next 3-6 months due to new laws going into effect?
@Matthew Knatz@Chad Otar@Jake Strelzik@Melissa Flagg@Matthew Washington
we have implemented the Virginia Disclosure Law document into the Funding Agreement when sent to the merchant. The 2x page document breaks down the Funding Terms & shows the Commission amount the Broker receives. I do not need anything extra from ISO's to fund VA or CA based merchants.
Lendini will continue to fund in the State of California. As of now, we will require 4 months business bank statements as well as any required disclosures.
we have implemented the Virginia Disclosure Law document into the Funding Agreement when sent to the merchant. The 2x page document breaks down the Funding Terms & shows the Commission amount the Broker receives. I do not need anything extra from ISO's to fund VA or CA based merchants.
Lendini will continue to fund in the State of California. As of now, we will require 4 months business bank statements as well as any required disclosures.
As a funder we are implementing more technology to our agreements and verification process.
I Believe so I also Think lenders will start requiring to ask for more stips as default rise @Shane Mahabir
This is an excellent question, I was wondering this myself.