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Table of Contents

Lead Story

Secrets of the Inc. honorees


Industry Update

Proposed interchange settlement: Judge approves, industry objects

Hurricane Sandy's huge impact

EMV on fast track

Harbortouch emphasizes training

Trade Association News


Educational aid for the feet on the street

Selling Prepaid

Prepaid in brief

The gamification of rewards

FinCEN pushes for cross-border prepaid enforcement


Consumer payments in a connected age

Patti Murphy
ProScribes Inc.

Smart ISO-MLS relationships

Jeff Brodsly
Chosen Payments


Street SmartsSM:
Are you a 10?

Jeff Fortney
Clearent LLC

Differentiate yourself: Sell to the medical industry

Jeffrey Shavitz and Adam Moss
Charge Card Systems Inc.

Opportunities in RAN and private-label programs

Mustafa Shehabi
PayCube Inc.

How to propel merchants to shed comfortable habits

Rick Berry
ABC MobilePay Inc.

EMV: Game on!

Dale S. Laszig
Castles Technology Co. Ltd.

Have we missed the window for EMV?

Nicholas Cucci
Network Merchants Inc.

Company Profile

Keep in Touch Systems Inc.

Merchants Choice Payment Solutions

New Products

Helping merchants clinch the sale

Payday Express Plus
Secure Payment Systems Inc.

Capital resource for ISOs, MLSs

Residual cash advance program
ISO Advance


Thinking of starting an ISO?


10 Years ago in The Green Sheet


2012 - 2013 events Calendar

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

November 26, 2012  •  Issue 12:11:02

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New Products

Capital resource for ISOs, MLSs

Product: Residual cash advance program

At a time when traditional lending remains inaccessible to many businesses, ISOs and merchant level salespeople (MLSs) are seeking reliable sources of funding to bolster business. To meet the ongoing demand for financial solutions, ISO Advance launched a residual cash advance (RCA) program specifically targeted to ISOs and MLSs.

"Banks just aren't loaning money to merchant processor professionals," stated Christopher Hernandez, Director at ISO Advance. "They don't understand the business. ISO Advance is ready to advance ISOs the cash they need to grow their business without the hurdles they'll run into at traditional lending institutions."

According to ISO Advance, the RCA program enables ISOs to leverage residual income portfolios to fuel business growth. ISOs are not required to switch processors when accepting an ISO Advance RCA, and the company offers RCAs with six- to 12-month terms.

According to Hernandez, any ISO earning at least $5,000 per month in residual income can apply. Advances range from $5,000 to more than $1 million, based on an ISO's six-month total residual income. ISO Advance generally provides advances valued at 75 to 100 percent of an ISO's six-month average. After submitting a one-page application, ISO RCAs are generally approved and funded within as little as five days, he noted.

So, what are ISOs most interested in funding at this point? "We provide funding for marketing, expansion and those unexpected business hiccups. Our rates are very competitive and well below typical merchant cash advance rates," Hernandez said.

A less than perfect credit score apparently does not necessarily eliminate an ISO or MLS from RCA consideration, because unlike banks, ISO Advance looks beyond FICO scores. "[T]here are inevitably going to be bumps in the road that can negatively affect your credit rating," Hernandez said. "Our evaluation is based on more than on just your score. Throughout the underwriting process we look at the whole picture."

The application process is relatively simple. ISOs interested in applying for an ISO Advance RCA are required to submit an agent agreement, residual statements and bank statements for the previous six months, a copy of a valid driver's license and a voided check from the bank account to which RCA funds will be deposited.

ISO Advance

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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