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Direct Lenders Only: Suitable Direct Lenders Partnering With ISOs

Merchant cash advance loans have become the most preferred form of alternative lending in the recent years. They are prompt loans with fewer and manageable requirements during the loan applications. Direct lenders have come to appreciate small businesses that prefer to rely on direct loan lenders only when faced with financial crises. Independent sales organizations (ISO) are what most of the direct lenders are in search for to reach out to many small businesses that might need a merchant cash advance loan.

Read More:  The Advantages of ISOs in Merchant Cash Advance and Private Lenders

Most of the direct lenders highly appreciate the services that ISOs offer and they have endeavored to offer reasonable and fair commission rates. Given the high risk loans that they offer to their clients, the interest rates are high depending on a given deal. From this, a majority of them offer a good commission for a given MCA loan deal than an ISO brokers. Besides this most have systems that ensure that ISOs don’t incur any expenses while linking them to the small businesses that are in search of direct loan lenders only.

For a small business to qualify for merchant cash advances, they need to accept the use of credit or debit cards in their business. Direct lenders don’t seek any form of collateral and the small business’s revenue base will determine whether they qualify for an MCA loan or not. Most of them generally offer MCAs to small businesses that have been running for at least one year. They additionally need to make at least $10,000 on a monthly basis and the interest rate to be charged will depend on their agreement with the direct lenders.

Read More: What Benefits do Direct Cash Lenders Offer?

During the loan application process, a small business seeking for direct loan lenders only needs to provide direct lenders with: the business’s financial statement, a copy of the credit sales history as well as the estimated credit sales in the near future. Small businesses with a bad debt history should not hesitate in applying for merchant cash advance loans. Many of the direct lenders offer rapid financial solutions to bail small businesses that have run short of working capital. The loan applications are usually processed and approved in a relatively shorter time; it takes just a matter of days before a loan is approved and disbursed.

Small businesses that are looking for direct loan lenders only will feel contented with the services that direct lenders provide.  Many of them have seen to it that businesses which are seeking for direct loan lenders only enjoy a sustainable repayment period. Of their daily credit sales, 10% will be deducted to service the MCA loan. The repayment period could range from as a little as a month to as long as one year, the clients usually choose their preferred repayment period.

Direct lenders have strived to come up with packages which are suitable for most clients who are seeking for direct loan lenders only. Most of them offer MCA loans ranging from $10,000 to $1,000,000 and they usually offer favorable commissions to the ISOs companies that they work with.

Posted On: 30th October 2017