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ISO Advance Provides Cash Based On Residuals

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ISO Advance is offering residual cash advances ranging from $5,000 to more than $1 million with terms of six to 12 months.

Independent sales organizations and sales agents that earn at least $5,000 monthly in residuals qualify to apply for the advances, says a press release from the New York-based company.

"Banks just aren't loaning money to merchant-processor professionals," Christopher Hernandez, ISO Advance director, said in the release. "They don't understand the business."

The company evaluates ISOs and agents on their businesses as a whole instead of relying just on credit ratings, according to the release.

"On the road to success there are inevitably going to be bumps … that can negatively affect your credit rating," Hernandez said.

Receiving an advance does not require changing processors, and ISOs and agents keep their processing portfolios, the release said.  

SEE MORE IN

The 2015 ISO&Agent Fact Book is our annual listing of ISOs, processors, terminal makers, suppliers, consultants, industry organizations and other participants. This issue also includes an examination of Walgreens' mobile strategy for payments and health care; a look at whether Bluetooth beacons can be used to accept payments; and some big ideas for small payment terminals.