Reputation goes a long way in alternative finance, but it's not a substitute for proper due diligence. We put together a Top 10 checklist for vetting a new broker or funder.
1. Business registration. Confirm the company has an active filing with the appropriate Secretary of State.2. Ownership. Identify company principals and confirm the information is consistent with what was provided.3. Industry references. One or two contacts familiar with the company or its principals.4. Live verification. A short video call to verify identity.5. Online presence. Website, business email domain, social media, directory listings.6. Online search. Complaints, enforcement actions, lawsuits.7. Credentials. Verify any applicable licenses, registrations, certifications.8. Data security. Ask how sensitive merchant information is secured .9. Documentation. Review partner agreements before signing.10. Industry sources. Check for public comments. e.g. DailyFunder, Leasing News, ABL Advisor, Funder Intel, IFA Forum, Reddit, deBanked, Monitor Daily.
Anything else you would add? Email info@aquamark.io .
Signed
Christina Duncan
Program Director · Secure Broker™, Secure Funder™ · Founder, Aquamark
christina@aquamark.io
