Business Owner and Financials

In the Business Owner and Financials Section, you will need to provide information about the individuals who own or manage your business, as well as your business bank account information. This section is crucial for verifying your identity and ensuring that everything is set up properly to accept payments. Here’s what you’ll need to fill out:

Business Owner Information

• Title: The role of the business owner, such as CEO, Owner, Partner, or Manager etc.
• Ownership Percentage: The percentage of the business owned by the individual. Owners with 25% or more ownership must be listed.
• First Name & Last Name: The full legal name of the business owner.
• Phone Number: Contact number for the owner. This should be the primary phone number used for business communications.
• Date of Birth: The owner’s date of birth. This helps us verify identity and comply with legal regulations.
• Citizenship: The country of citizenship of the business owner.
• Social Security Number (SSN): Required for verification purposes under regulations such as the Patriot Act and FinCEN. This information is kept secure.
• Home Address: The residential address of the owner. This helps with identity verification and compliance.

Principal Signer

If the principal signer of the business has 0% ownership (for example, a manager or other representative), indicate this here. This could be the individual who will be signing documents on behalf of the business.

Additional Representatives

If there are other individuals with significant roles or ownership, their details should also be included here:

• Title: The role of the additional representative, such as Manager or Partner.
• Ownership Percentage: The percentage of ownership, if applicable.
• Representative Type: Indicate if they are a Beneficial Owner (owning 25% or more) or a Guarantor.
• First Name & Last Name: Full legal name.
• Phone Number: Contact number.
• Date of Birth: Date of birth of the representative.
• Citizenship: Country of citizenship.
• Social Security Number: For identity verification purposes.
• Home Address: Residential address.

Bank Account Information

To set up payment deposits, you will need to provide details for the bank account to be associated with your application:

Link Bank Account

You can directly link your bank account using our Plaid integration. This is a quick and secure way to connect your bank information.

Manually Enter Bank Details

If you prefer, you can manually enter the following:

• Name on the Bank Account: The account holder’s name, which should match your business records.
• Routing Number: Your bank’s routing number. This is used to identify your bank and route payments correctly.
• Account Number: Your bank account number. You will need to enter this twice to confirm accuracy.

Secondary Bank Account (Optional)

You have the option to add a secondary bank account. This account will not be used for depositing sales proceeds but may be used for specific purposes, such as drafting fees, credits, or chargebacks. If you choose to add a secondary account, please provide:

• Name on the Bank Account: The account holder’s name.
• Routing Number: The routing number for the secondary account.
• Account Number: The account number, entered twice for confirmation.

Why We Need This Information

This information helps us verify the identities of key individuals in your business and ensure that payments are directed to the correct bank account. By providing accurate owner details, we can comply with federal regulations and keep your business safe. Bank account information is essential to ensure that payments are deposited efficiently and without delay.

If you have questions while filling out this section, remember that you can save your progress and return later. We’re here to assist you at any point during the process. Once completed, your business will be ready to move forward with accepting payments smoothly and securely.