Denise Shomo, President of capital financing company Cutter LLC, understands her clients well, because she once ran an ISO and sold her merchant portfolio to Cutter. Negotiations for that transaction went so well that when the sale was complete, Cutter founder David Daily offered her a job, which she accepted.
Franklin, Tenn.-based Cutter LLC was founded in 2006 to provide ISOs and merchant level salespeople (MLSs) a means to sell their portfolios to build their business and to be fairly compensated in the process. Daily described Cutter as a "very, very simple company" that provides ISOs and MLSs with working capital from their residual streams. "That's all we do," he said.
Shomo said the company works hard to be a partner and that flexibility helps make it work. She also noted that growth is a primary goal of many who turn to Cutter for financing options. "The majority of clients we deal with are looking to use the funds we provide to grow, so they don't entirely deplete their cash flow. For example, if they have a $10,000 residual stream coming in each month, they might want to sell $5,000 and get an influx of cash, start a sales team, or apply it towards buying equipment, research development, or product investment."
Daily stated that Cutter purchases whole and partial portfolios and has no regional limitations. "We can do business with people who have a lifetime residual and do not actually own the contract, but own the residuals," Daily added.
According to Daily, Cutter distinguishes itself from other businesses by its research. It completes essential fact gathering to develop a full understanding of each ISO or MLS portfolio under consideration. When qualifying a potential customer for financing, Cutter reviews 12 months of a client's portfolio data to determine a consistent average valuation that excludes fluctuations in volume throughout the year. There is no minimum amount to qualify. Cutter looks at large and small portfolios equally and has quick approval turnarounds.
"As soon as I get the customer data, I start working the same day, and I try to get an offer to them next day," Shomo said. "That is my goal. Most times I'll make an offer, and if it is accepted, then we start moving forward to the remainder of the due diligence."
Once a sale is finalized, the transfer of merchants to Cutter is a smooth and seamless process, according to Shomo. "The ISO moves the merchants into a portal where we provide full support, and the merchants don't know they were sold," she said. "We don't make an announcement that their account has been sold; we fly under the radar but let them know we are here assisting. When you spend all that time and effort signing up merchant accounts, you have a relationship with those merchants, and you want to hand them off to someone you trust to do a good job. We feel we are best at that."
Cutter prides itself on providing generous fees to customers who refer business. "Once an ISO sends a referral to us, they actually get paid for it," Shomo said. "I've heard nightmare stories, where people have referral programs and they never get paid. As soon as we close, we pay the referral source. We do our best to close every deal you send us even if it's really small, because it's important to us to take care of our clients."
Shomo also emphasized that Cutter is a company you can trust to treat you fairly. "We offer fair market value for unique characteristics," she said. "For all those reasons, we have never disappointed a seller in an acquisition. We have always had successful acquisitions, and the fact that we have been around for so long shows that we are a strong company."
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
ISO/MLS contact:
Denise Shomo
President
484-638-6804
denises@cutterfinancial.com
www.cutterfinancial.com
Company Profile originally appeared in
The Green Sheet Issue 171101
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180801 - Century Business Solutions
180502 - Priority Payment Systems Northeast
180501 - Merchant e-Solutions Inc.
180301 - Wirecard North America
171202 - Secure Cryptopayments
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170902 - Frates Insurance & Risk Management
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170802 - Apogee Payment Systems LLC
170702 - Active Software & Hardware Systems
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170502 - Frontline Processing Corp.
170501 - Platinum Choice Bancard LLC
161202 - International Bancard Corp.
161201 - CSR Professional Services Inc
161102 - Digitzs Solutions Inc.
161101 - Residual Sheriff LLC.
160801 - DigiPay: Solutions Inc
160702 - CreditCardProcessing.com
151202 - Benseron Information Technologies Inc.
151201 - CardWare International Inc
151101 - Lion Capital Group LLC
150801 - Topcreditcardprocessors.com
150702 - Vision Payment Solutions LLC
150601 - Conformance Technologies
150502 - Global Processing Systems
150402 - Mercantile Processing Inc.
150401 - Field Guide Enterprises
150302 - Signature Card Services
150301 - Premier Payment Systems Inc.
150201 - Humboldt Merchant Services
141102 - National Merchants Association
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140601 - Total Merchant Services
140501 - Nationwide Payment Solutions
140501 - BPC Banking Technologies
140301 - Meritus Payment Solutions
131202 - First American Payment Systems L.P.
131102 - Evo Payments International LLC
131001 - Live Reps Call Center
130901 - Regal Payment Systems LLC
130901 - The Merchant Solutions
130802 - North American Bancard LLC
130801 - Payment Logistics LLC
130702 - Plug n Pay Technologies Inc.
130601 - U.S. Merchant Systems LLC
130402 - National Processing Co.
130202 - Charge Card Systems Inc.
130202 - Layered Technologies Inc.
121202 - American Microloan LLC
121102 - Keep in Touch Systems Inc.
121102 - Merchants Choice Payment Solutions
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120902 - Central Payment Co. LLC
120802 - Royal Merchant Holdings LLC
120801 - National Benefit Programs LLC
120602 - Cardinal Commerce Corp.
120601 - Veritrans Merchant Services LLC
120502 - ExecuTech Lease Group
120502 - The Small Business Authority
120402 - Chargeback Guardian Inc.
120401 - Electronic Payment Exchange
120301 - Complete Merchant Solutions LLC
120201 - CSR - Compliance Solutions and Resources
111002 - Lead Source Call Center
111001 - First Annapolis Consulting Inc.
110902 - Point of Sale System Services Inc.
110901 - Sage Payment Solutions
110801 - Century Payments Inc.
110702 - Creative Vision Studio LLC
110702 - Network Merchants Inc.
110701 - Capital Access Network Inc.
110602 - eProcessing Network LLC
110602 - Moneris Solutions Inc.
110502 - Paragon Application Systems Inc.
110401 - Merchant Implementation Services
101202 - CheckAlt Payment Solutions
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100802 - Federated Payment Systems LLC
100801 - Voltage Security Inc.
100601 - NETSURION (formerly Vendor Safe Technologies)
100502 - Transaction Network Services Inc.
100402 - Secure Payment Systems Inc.
100401 - Elite Merchant Solutions
100302 - Retail Decisions Inc.
091201 - Performance Training Systems Bankcard Boot Camp
091101 - Merchant e-Solutions Inc.
091002 - Whitehall Capital Advisors LLC
090901 - CoCard Marketing Group LLC
090801 - First National Merchant Solutions
090701 - checXchange Money Transfer Systems Inc.
090601 - Sterling Payment Technologies
090502 - Infinity Payment Systems
090501 - Merchant Cash and Capital
090401 - UseMyBank Services Inc.
090401 - Data Delivery Services Inc.
090302 - Velocity Merchant Services
090302 - Metro Merchant Services
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090301 - DCC Merchant Services USA LLC
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081002 - Veratad Technologies LLC
081001 - International Merchant Solutions LLC
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080502 - DRG Telemarketing Inc.
080501 - BCC Merchant Solutions
080402 - U.S. Merchant Systems
080401 - Greystone Business Resources Corp.
080302 - Transmedia Payment Services Ltd.
071202 - Barclay Square Leasing Inc.
071102 - FirstView Financial LLC
071001 - Sage Payment Solutions
070902 - YourTownMall Business
070901 - Nxgen Payment Services
070802 - All card Processing-AAMonte-USA
070801 - Money Movers of America Inc.
070602 - Central Point Resources Inc.
070601 - Positive Feedback Software LLC
070502 - Premier Payment Systems
070501 - Amacai Information Corp.