Owing to the lingering effects of the great recession, the traditional banks have approved a very insignificant percentage of business loans, especially when it comes to small companies. While the economy has been recovering and there is an increasing demand for small business credit, the banks still avoid funding those companies having poor credit ratings. For the small business owners who are looking for alternative financing to fund their operations, merchant cash advances come out to be the best solution.
As a merchant cash advance provider, you are well aware of the importance of getting quality leads to ensure the smooth functioning of your business operations. Since the traditional banks have tightened the loan eligibility criteria and introduced strict policies that small businesses find difficult to meet, merchant cash advances come out to be the best solution. Though people are considering merchant cash advances as their ultimate funding option, MCA providers are still facing challenges in finding the right reliable prospects.
At times of stagnant growth, when traditional banks cease to fund small businesses owing to their bad credit ratings, merchant cash advances come out to be the best solution to financing. While many businesses consider MCA as the best funding option available nowadays, still merchant cash advance providers face challenges in finding prospective clients. Thankfully, UCC lists exist.
The ongoing repercussions caused by the lingering effects of the great recession are still affecting businesses throughout the world. Getting a loan from traditional banks is still a challenge for some business owners, especially smaller companies. Owing to their bad credit ratings or no credit, the banks cease to fund these businesses which induces the owners to look for alternative financing such as merchant cash advances. More importantly, this alternative financing option features an easy application process, higher approval rate and simpler repayments, which makes it a popular choice among business owners.
Gone are the days when traditional banks were the only funding option available for cash-strapped businesses. Moreover, we all are aware that getting a loan from bank and other traditional providers is not at all easy. There is a long list of formalities, set eligibility criteria which businesses, especially startups, find difficult to meet and fixed monthly payments that can be quite stressing.
Although the ability of small businesses to obtain capital has improved in recent years, getting a traditional bank loan is still a challenge, a new study revealed.
According to a research conducted by Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet, it has been found that “over the last four years, there has been a 13 percent increase in access to capital for small businesses. But, most of the businesses are getting that money from personal assets and not from banks or online lenders.”
Though the merchant cash advance industry is booming right now, finding and building clients is still a challenge. As a merchant cash advance provider, you understand the importance of finding prospective clients and selling business loans. While MCAs are increasingly gaining popularity as a funding option among businesses, considering a marketing plan is vital to selling the loans efficiently. Continue reading Planning Merchant Cash Advance Marketing? Got MCA Leads? It’s Not About Selling the Loans, but About Selling the Benefits
Gone are the days when traditional banks were the only funding option available for cash-strapped businesses. Moreover, we all are aware getting a loan from bank and other traditional providers is not at all easy. There is a long list of formalities, set eligibility criteria which businesses, especially startups find difficult to meet and fixed monthly payments can be quite stressing.
For the startups and businesses that are looking for easy and quick funding options- merchant cash advances is the ideal solution. The businesses that are in need of immediate capital to fund their business operations, have a billion dollar industry eager to fund them: MCA providers. The industry is just a decade old, but it has shown significant growth in the last few years. The MCA providers offer a lump sum payment to businesses against a share of future sales. The business owners are preferring the easy funding options such as merchant cash advances which provides plenty of room for the growth of merchant cash advance industry.
Gone are the days when traditional banks were the only funding option available for the struggling businesses. Nowadays, several alternative financing options have emerged that help startups and small businesses meet their capital needs in an easy way. Moreover, at times of stagnant economic growth, banks also refuse loans to businesses having poor credit ratings, so they look for alternative financing. In such a situation, merchant cash advances come out to be the best solution for the businesses struggling to get loans from banks. This is where you come in, but MCA providers continue to face difficulties finding the right prospects. Having a merchant cash advance leads list will help you target the right ones.
Two Major Benefits of a Merchant Cash Advance
Convenience- A merchant cash advance is a convenient and easy alternative financing option for all types of businesses. Unlike traditional loans, it does not require months of back and forth before the lean is even considered. There is no need to provide a specific business plan or back tax returns either. Normally, candidates for the loan will only need recent copies of recent bank statements and proof of your sales to receive an MCA loan.
Repayments are Even Simple- Unlike traditional banks where the borrowers pay a fixed monthly instalment as repayment, merchant cash advance repayments are a percentage amount of total credit sales, which can fluctuate based on sales volume. This feature is quite beneficial for the businesses as they do not have to worry about hefty monthly payments.
Though merchant cash advances are the most flexible business loans available, still it can be difficult for MCA providers to sell their services to businesses in need of this type of funding. The biggest reason is that most business owners aren’t aware about this alternative type of funding and how beneficial it can be. However, with merchant cash advance advertising, MCA providers can directly connect with the businesses that are actively looking for capital to grow. However, calling random people to hunt for prospective leads is a tiring and time-consuming process.
So, if you want your merchant cash advance marketing to garner effective results, the best way is to buy a merchant cash advance mailing list. These highly-targeted mailing lists contain detailed information about businesses who are seeking loans including contact details, city, phone numbers, etc. Having a reliable merchant cash advance leads list will help you launch an effective merchant cash advance advertising campaign to sell loans efficiently.
At Merchant Financing Leads, we provide highly-targeted lists that will help you find prospective clients and sell business loans efficiently. Our lists are compiled from several sources and are frequently updated so MCA providers can get the best ROI on their marketing efforts. Get in touch with us today to get your highly-targeted leads list. We provide lists with up to 93% accuracy that will help your business grow.
The people who are working in the MCA industry are well aware how challenging merchant cash advance advertising can be. With a number of MCA providers emerging rapidly due to its gaining popularity, the competition is getting tough. Moreover, as a MCA loan provider, you know building clients is not easy. The best approach to finding prospective clients is to buy a quality leads list.
Merchant cash advance leads can be a boon for your MCA business. These lists contain names and information on those businesses who are new in the industry, generally startups that do not have a good credit rating. Owing to their bad credit history or no credit at all, the banks are not ready to fund them, and these startups aren’t able to meet the tough criteria set by the traditional banks. So, MCA turns out to be the best funding option for them and, so do merchant cash advance leads for you.
While many MCA providers prefer finding their own prospective clients, little do they realize how much time they are wasting on it, which could be utilized for performing other activities such as expanding their businesses. Most people do not realize that converting leads is a big job that requires adequate knowledge about marketing tactics.
When you think of merchant cash advance advertising and consider buying leads, there are two important things you need to know:
- Are you going to do the job of following up and nurturing them?
- Can you afford to finance it?
According to Robert Clay, founder of Marketing Wizdom, “80% of sales are backed by 8% of the salesmen.” How does this happen? Clay says that at least 5 follow-ups are needed after the initial contact before the eventual sale, but mostly people give up after just 2 attempts. For the determined ones, their persistence pays off.
While buying a merchant cash advance leads list proves quite helpful, you need to understand the marketing tactics involved as well. When you contact a client twice and they do not respond, it doesn’t mean the lead is dead. When a customer doesn’t get pre-approved for a reason like poor credit or short time in business, the lead isn’t dead. It doesn’t matter what they are saying; your lead still exists. So, knowing the right marketing tactics will help you win clients and sell business loans more efficiently.
The MCA industry has flourished in recent years, especially after the economic recession. So, now is the right time to invest in merchant cash advance leads and approach your target audience being well prepared. Look for a reliable provider that offers quality leads that are verified for accuracy and authenticity.
At Merchant Financing Leads, we offer highly-targeted merchant cash advance leads lists for your business loan marketing. We excel at generating quality lead lists that are up to 93% accurate and phone verified. We are a team of experts who have been in the industry for over a decade now. With the targeted lists we compile, we have helped hundreds of business loan providers save thousands of dollars on marketing.