One of the most common questions merchants typically ask us is how they can get next day funding.
Our Director of Sales, Kent Johnson chimes in on the subject.
We look for merchants who have properly supporting financials meaning they have bank statements that begin and end with strong balances.
Merchants who fall within the following do not qualify:
- Merchants who are in a heavy MOTO (mail order telephone orders) business.
- Merchants whose industries are known for having a high rate of chargebacks on future deliverables such as furniture delivery.
- Merchants who fall within certain SIC codes such as health and body and pharmaceutical.
A common misconception is that if you already have next day funding with your existing processor you’ll qualify for it when you switch processors. There are underwriting guidelines in our industry that need to be followed and next day funding is given on a case by case basis.
To see if your business qualifies for next day funding, contact us and mention this post: firstname.lastname@example.org, 800-717-1250.