What to do With ISO Accreditation?

Getting all the necessary credentials to run your business successfully is one of the things that will make you stand out with consumers. As an ISO (independent sales organization), you know how important it is to make sure that you are reputable and trustworthy in the eyes of your clients and partners. When it comes to ISO accreditation, you don’t have to follow any regulations by the government, but you do have to make sure that customers know that you’ll deliver on your promises and connect with the services and products that will help to move their companies forward.

Offering merchant cash advances (MCAs) are another way to boot your ISO accreditation with other businesses. When you offer MCAs, you provide businesses a way to get the working capital they need without having to apply for a traditional loan. This is very beneficial for businesses who don’t want to use their credit scores as a factor for approval. Merchant cash advances also don’t require a business to have to put up collateral in order to be considered for a loan. Collateral is a common requirement for companies who are seeking loans from traditional lenders or the Small Business Administration. In some cases, the business owner will still have to use the collateral item for payment, even if the company goes out of business.

When you provide MCAs to businesses, you’ll be building up your ISO accreditation with both parties, since you’ll likely be the main point of contact during the MCA acquisition process. It’s up to you to make each party feel comfortable with the process and to answer questions that either entity may have before any contracts are signed. You are also the organization that explains the rules and regulations, that everyone is clear on the terms before officially becoming the lender or debtor for a MCA.

It’s also essential that you explain the way that the merchant cash advance will work so that the business owner will know what to expect in terms of repayment. For the MCA, a lump sum of money is given to the debtor (in this case, the business owner), in exchange for a portion of the business’ credit or debit card sales. The MCA is paid back in small amounts each time a purchase is made at the business until the lump sum is repaid in full. It could take as little as 24 hours for business owners to be approved for the cash advance, and the money could be in the business account right away. This allows companies to continue their important daily operations and even stay current on business expenses while coming up with a realistic plan for repayment.

As you can see, offering MCAs are great for ISO accreditation. Since you likely already have a network of financial institutions that make your ISO especially reputable, adding MCAs to your services can only help you to grow your business, since you’ll be enhancing your network and making money from each MCA transaction. Talk to your financial advisor about ways you can provide MCA to customers today.