Confirmation from the merchant’s bank of account ownership, standing and sometimes balances.
Increasingly done through read-only bank connections rather than a phone call or a letter, which is faster and harder to falsify. It confirms the statements belong to the account the remittance will draw from.
Submission
A completed merchant file sent to a funder for underwriting.
Underwriting
A funder’s assessment of whether a merchant’s receipts can absorb a daily remittance, and on what terms.
Merchant application
The signed form capturing the merchant’s business details, requested amount and authorisation to pull information.
We will tell you straight up if we cannot help you. No commission deals, no free trials, no chasing you for three weeks.