Due to the multiple benefits associated with merchant cash advances, they have significantly gained in popularity among business people. A merchant cash advance is a convenient, quick-fix solution for cash-strapped business owners. For an MCA loan provider, finding prospective clients is still a challenge. Fortunately, UCC leads lists exist to help you approach businesses looking for extra funding for working capital.
A savvy business owner knows that traditional business loans aren’t the only option out there. For many small to medium-sized businesses, a merchant cash advance may be the smarter option. More importantly, when the traditional banks stop funding small businesses in times of stagnant economic growth, an MCA comes out to be a sound choice.
What is a merchant cash advance?
A merchant cash advance is a quick and easy alternative to other business funding without the need for collateral. MCA funding is easy to apply for. The providers recoup their funds by deducting a fixed percentage of total credit sales each month.
While buying UCC leads is the best way to find prospective clients and sell business loans, it is important to explain to them how an MCA is smarter option over traditional bank loans.
As a merchant cash advance provider, when you plan merchant cash advance marketing and approaching your targeted UCC leads, explaining how a merchant cash advance is the best type of option:
No credit or collateral– A merchant cash advance is a safe approach to funding a business. Unlike traditional loans that can affect a business credit rating if there are issues with payments, a merchant cash advance is a sales transaction that stays off the credit report. This is an important reason why merchants consider MCAs over other traditional loans.
Easy Loan Requests, Fast Processing & Repayments– The merchant cash advance is an easy, straightforward loan process from start to finish- one of the main features that attracts UCC leads. This business loan is often described as immediate cash because there is very little paperwork or waiting time for approval. The traditional banks will analyze a number of things including financial statements, business plans and tax returns. MCA considers only two things: monthly credit card returns and length of time in business.
High Approval Rate– An MCA depends on actual business performance instead of the credit of the applicants who have requested a loan. This practical approach allows any stable business to qualify for an MCA. Typically, the loan amount depends on the business’ average monthly revenue in the previous year.
Fair-minded repayment methods– Traditional bank loans require a fixed monthly payment, whereas merchant cash advance repayments are a percentage of total credit sales, which can fluctuate based on sales volume. In this way, merchant cash advances providers collect their share proportionately rather than draining business funds.
When a business owner needs a safe, quick cash infusion, an MCA is the best alternative. Getting quality merchant cash advance leads lists from a reliable lead generation company like ours will help providers launch a strategic merchant cash advance marketing campaign to reach potential customers efficiently.
Merchant Financing Leads is one of the trusted providers of high-quality UCC leads lists that help sellers reach target customers.