ISO Partner Terms
A plain-language summary of the terms every Workable Funding ISO partner agrees to at registration.
1. Relationship of the parties
The ISO partner is an independent contractor introducing merchants to Workable Funding LLC. Nothing in the agreement creates an employment, joint venture, agency, or partnership relationship, and the partner has no authority to bind Workable Funding, approve funding, or quote final terms on our behalf.
2. Onboarding requirements
Before a partner can be activated and paid, a signed ISO Partner Agreement must be on file, together with the partner's EIN or Tax ID, the Social Security number of the signing owner or principal, a copy of that person's REAL ID or other government-issued photo identification, a completed IRS Form W-9, and the bank details used for ACH commission payments. These items are part of the ISO Partner Agreement package and are collected for identity verification, tax reporting, and anti-fraud compliance. Files may be submitted before activation, but no commission is released until the agreement and all identity documents are received and verified.
3. Commission
Compensation is based on the funded amount of each deal. Referral submissions (no signed agreement) pay $500 when the referred client's first file funds, plus $500 more if that client funds three files within 90 days. Contracted ISO partners earn a per-file commission on the funded amount — a 12-point spread pays $12,000 per $100,000 funded — with the exact amount determined by the approved buy rate and the rate at which the deal is sold. Volume bonuses apply at 10+ and 25+ funded deals per month. Compensation is earned only on deals that fund, and is paid by ACH 15 business days after funding, on our twice-monthly Thursday payout runs, accompanied by a deal-level statement. The exact amount for any individual deal is confirmed in writing at approval.
4. Deal ownership and renewals
Merchants introduced by a partner remain that partner's relationship. Renewal commission is credited to the submitting partner where the merchant renews directly with Workable Funding. Workable Funding will not solicit an introduced merchant around its submitting partner.
5. Submission accuracy and disclosure
Partners represent that every application, bank statement, and supporting document submitted is complete, unaltered, and provided with the merchant's authorization. Existing advances and positions must be disclosed at submission. Submitting falsified or knowingly incomplete documentation is grounds for immediate termination and forfeiture of unpaid commission.
6. Compliance
Partners must comply with all applicable federal and state laws, including TCPA, CAN-SPAM, UDAAP, state commercial financing disclosure laws, and any applicable licensing requirements in the states where they solicit. Partners must not make guarantees about approval, amounts, rates, or timelines.
7. Confidentiality and data protection
Pricing, underwriting guidelines, buy rates, and merchant data are confidential. Partners must protect merchant personal and financial information, transmit it only through secure channels, and use it solely to process the submission.
8. Advertising and use of marks
Partners may not use the Workable Funding name, logo, or marks in advertising, paid search, or domain names without prior written consent, and may not represent themselves as Workable Funding LLC.
9. Chargebacks and commission reversals
Commission is earned and paid under Workable Funding's own commission program, set and administered by the Workable funding desk. Commission is not reversed on performing deals. Commission on a deal may be reversed where the deal is rescinded, funded on the basis of misrepresented documentation, or defaults with no payment made. Because commission is released 15 business days after funding on our twice-monthly Thursday payout runs, payment normally lands after the 30-day reversal window in our commission program has closed. Where a merchant defaults, rescinds, or the advance is reversed before the payout run, the commission on that deal is simply not released — there is nothing to pay back.
10. Term and termination
Either party may terminate the agreement on written notice. Commission on deals already funded before termination remains payable in the normal payout cycle. Confidentiality obligations survive termination.
11. Governing law
The agreement is governed by the laws of the State of New York, and the parties submit to the jurisdiction of the state and federal courts located in New York County, New York.
Questions?
Contact our ISO desk at hello@workablefunding.com or call (212) 470-1405.
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