At times of stagnant economic growth, the traditional banks have stopped funding small businesses, due to their poor credit ratings. However, for a business to operate successfully, a smooth flow of cash is needed. So there are times when business owners start looking for alternative financing solutions such as merchant cash advances.
A merchant cash advance is an easy and flexible alternative to traditional loans. It is an advance on the future credit card sales of a business. Moreover, this financing solution doesn’t need any kind of collateral and it stays off your credit report. A merchant cash advance offers many benefits however; it has been observed that an MCA provider faces difficulty in finding the right prospects in order to sell business loans. Thankfully, high-targeted lists such as ACH leads exist to help you plan a strategic marketing campaign.
ACH- Automated Clearing House is an electronic funds transfer network that processes debit and credit transactions. As you know, ACH transactions offer an easy application and repayment process, so more and more businesses are opting for ACH payments over other methods. Getting quality ACH leads from a strategic lead generation service like ours will help you know who your target customers are, allowing you to plan a successful marketing program. Yet, businesses are confused about whether to consider ACH merchant cash advances to fund their businesses. When you plan ACH marketing, buying quality business loan leads such as ACH lists is important, but you need to explain how an MCA makes a better choice over traditional financing.
Here’s what your ACH leads should know about a merchant cash advance and how this alternative financing is the best option-
Immediate cash– Unlike traditional banks that require a lengthy process-long paper work which may take months for approval-a merchant cash advance is simpler. It doesn’t require any kind of credit or collateral. Once you get approval for a business loan, the funds are transferred to your account within one to two business days.
Easy application and a high-approval rate– When you consider ACH marketing, explain to your business loan leads that a merchant cash has a quick, simple and obligation-free application process. A merchant cash offers a high-approval rate; any stable business can qualify for an MCA regardless of its credit rating.
Safe- The merchant cash advance provider will not consider credit rating on the loan application, nor will it affect your future rating. Plain and simple, an MCA stays off your credit report. Moreover, a merchant cash advance doesn’t need any kind of collateral in order to qualify for a loan like traditional banks require. Your ACH leads should know how easy, safe and simple a cash advance is.
No restrictions– Business loans obtained from a traditional financial source come with a restriction–the funds must be used for a stated purpose. However, a merchant cash advance doesn’t come with any such limitation. You are free to use the funds the way you want such as to buy new equipment, pay wages, launch a product, etc.
If you are planning merchant cash advance marketing and are about to approach ACH leads, it is important that you explain how this type of business funding provides a better option over traditional financing.