Why am I not on next day funding?
Sphere determines whether or not merchants qualify for next day funding (NDF) during the underwriting process. Factors that impact the decision are business type, your personal credit score, your average ticket and when you deliver your goods or services. Businesses like restaurants are very good candidates for NDF because their average ticket is usually low and the goods and services are delivered and consumed on the spot in most cases. If your credit score is satisfactory you will be placed on NDF. If your business is a furniture store, chances are you will have difficulty receiving underwriting approval for NDF. In most cases, the average ticket can be over $1,000 and there is likely an element of future delivery of product. Both of those factors create additional risk for Sphere.