Sole-proprietors, Partnerships, and most Corporations will be required to sign a Merchant Application and a Personal Guarantee before their bank-approved merchant account can be opened. For Nonprofits, a member of the board only needs to sign the Merchant Application and provide a copy of the exempt business certificate (501c), or the IRS letter confirming the exempt status (IRS Form 1023). For Government entities, an authorized government employee only needs to sign the Merchant Application and provide a board resolution or letter of authorization.
Modified on: Mon, 24 Oct, 2016 at 11:43 PM
Did you find it helpful?Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.