For any business large or small, a continuous flow of cash is needed for smooth operation; and for the larger established businesses with a good credit rating, traditional banks offer business loans without complications. For the small business owner in the struggling phase and lacking a good credit rating, qualifying for a business loan from traditional providers is quite difficult. In times of stagnant growth, traditional banks stop funding to these small businesses because of their bad credit ratings. They start looking for alternative financing and a merchant cash advance turns out to be the best solution.
When a business owner obtains a Merchant Cash Advance, they’re getting a cash advance against future credit card sales. The MCA is paid back by a fixed portion of credit card sales revenue going to the lender. Seeing the benefits, this alternative financing is increasingly gaining popularity. As a MCA provider you understand the importance of building clients in this industry. Finding new prospects is a bit challenging. Fortunately, merchant cash advance live transfer leads exist to help you reach your target prospects efficiently.
Once you have access to merchant cash advance live transfer leads, the next step is to formulate a strategic merchant cash advance marketing campaign that makes selling business loans efficient and fast. Explaining the many merchant cash advance advantages will help you launch a successful merchant cash advance marketing campaign. They include:
Easy loan application process– Traditional bank loans or small business loans take a long time to process and require a large amount of paperwork and meetings, whereas an MCA requires much less documentation and takes less time. Typically, you get cash in less than a week.
Higher approval rates– To qualify for a bank loan, a business needs to show a track record of debit or credit receivables. If a business has a bad credit rating or no credit, they cannot qualify for traditional loan. By contrast, a merchant cash advance doesn’t have any such restrictions. The credit rating of a business is not taken into account to qualify.
No collateral– Unlike traditional bank financing that need collateral putting your assets at risk, a merchant cash advance doesn’t need any kind of collateral. A business doesn’t need to put assets such as a home or other property on the line for a merchant cash advance.
No restriction on cash usage– This is one of the important benefits that needs illustration when marketing merchant cash advances. The funds obtained from a merchant cash advance are free to be used as you wish. You can buy new equipment, pay wages to employees, purchase inventory, and more. An MCA doesn’t pose any kind of restriction on the use of capital.
When marketing your merchant cash advance business, you should approach MCA live transfer leads illustrating on how a merchant cash advance is the best alternative financing available these days for cash-strapped businesses. This approach will help you sell business loans more efficiently.