PayArc

PayArc is the new processor that Lendiom uses. There are lower costs and cheaper processing fees, plus they have human support that you can call and actually talk to someone. 🎉

Onboarding Process

The onboarding process is manual right now, so a meeting is required so we can step you through the application. Additionally, there are several requirements you will need ahead of time. The onboarding process looks like this:

1. Scheduling a meeting with Bradley Hilton (link here)
2. Gathering the requirements
3. Filling out the application together
4. Wait for approval
5. Call PayArc and walk through PCI Compliance Questionnaire

Requirements

• Photo of the primary owner's drivers license
  • Cannot be expired
  • Only the person filling out the information
• Owners Information
  • Date of Birth
  • Social Security Number
  • Email address
• Business EIN Issuance Letter (SS-4 form)
• Business incorporation information
  • Date
  • State
  • Articles of Incorporation
• Photo of a voided check (must have routing and bank account numbers readable)
• Statements:
  • 2 years of financials (P&L statements or business tax returns)
  • Last 3 months of Banking statements
  • Last 3 months of card/ach processing statements
  • If no processing history, then last 3 months of personal banking statements
• Copy of your contract (ensure the section about Lendiom is in there)
• Estimated Processing
  • Total monthly processing amount
  • Highest individual payment amount