Loan Modification Merchant Accounts
If you are a business that specializes in loan modification, setting up a merchant account is important. As a loan modification business, your business works on modifying loans for those who are facing financial hardships, need changes to their loan terms, need lower interest rates, or even payment extension dates. Having a merchant account is important when you are in the business of loan modification, and it can sometimes be difficult due to being high risk.
The need for a merchant account:
Having a merchant account for your loan modification business gives your business the ability to accept payments electronically which also makes it easier and more convenient for customers.
Most payment methods used by loan modification businesses are by cards and echecks. You may experience that some banks may refuse to grant you access when applying for a merchant account. However, we have experience with businesses like yours and can set up a merchant account so that your business can accept payments and grow.
Challenges of credit card processors:
Credit card processors and payment processors are appointed by a merchant and handle transactions that are done through credit or debit cards. They go through a process which includes checking the details and also carry out a series of anti-fraud measures against the transactions to ensure the transaction gets approved.
Many credit card processors such as PayPal, First Data, and others can be hesitant when it comes to providing services to loan modification businesses. They usually have a long application process which can make it difficult to get access to a merchant account with no guarantee that it will even be approved.
What we offer:
If your business is established or newly started, we have many options and will work to help you get a merchant account. We offer great rates, and our friendly and efficient staff will work with you to ensure all your needs are met.
We believe in personalized service. We do not charge application fees or setup fees and will offer you the best rates after a thorough analysis. During our analysis, we look at the history of your business and assess the risk involved. We then work with you to come up with a plan and offer you the best solutions to set up your merchant account.
We have experience and work with businesses like yours and have multiple underwriting banks that are able to handle such situations. In addition, we can provide references and recommendations from businesses we work with that are similar to yours.
In addition, we have a simple billing process for clients through recurring billing which is done once per month. Our customer service and support team are available 24/7 to handle any concerns or needs even after you are set up with a merchant account and your terminal is set
