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Yes, Nymeo membership is required to be a member of the merchant financing program. The good news is there is no cost to join. You and/or your business would just need to qualify for membership with the credit union. Information on membership requirements can be found here: Membership - Nymeo Federal Credit Union
No! You have enough to do so we will handle all the origination and servicing of the loan. Just send your customers our way and we will take care of the rest.
No again! You can send us multiple requests a day or one a year, there are no minimum obligations to stay in the program.
Nope! Unlike most financing programs, there are no per transaction fees. This means more money in your pocket and more flexibility in offering competitive quotes to your customers.
Upon completion of a customer’s loan, we pay you directly. You can choose how your money is received, either by direct deposit into your Nymeo account or we can wire the funds to another financial institution.
*Please Note: If your business is overseen by the Maryland Home Improvement Commission (MHIC), then Nymeo will follow all MHIC guidelines regarding the timing of payments.
Nymeo will provide you with a custom co-branded website and online application that your customers can use to apply for a loan. We handle all the communication and paperwork directly with the customer and pay you upon completion of the loan.
Not all loans are the same but generally speaking, loans can be processed within a day, which means no long delays waiting to collect payments.
We don’t think so but give it a try and you can tell us! We are always looking for feedback on ways we can help our members grow and are open to any suggestions you might have.
Nothing! Our merchant financing program is free to join for our business members. There are no startup fees, no monthly fees and no annual fees associated with the program.
Merchant financing is a program designed to providing financing options for customers of Nymeo business partners to pay for the products and services that they sell.