In the current economic scenario, a merchant cash advance is the best solution for cash-struggling businesses. Qualifying for a loan from traditional banks is still a challenge for businesses with bad credit. So, businesses look for alternative financing such as merchant cash advances. And, having access to qualified business loan leads such as ACH leads is the best way to find the right prospects and sell MCAs efficiently.
While merchant funding is increasingly gaining popularity, MCA providers are facing difficulties in finding the right prospects. If you are working in the merchant cash advance industry, you are well aware of the importance of building clients and selling loans. When it comes to marketing and selling MCA loans, you need to know your target audience; without it, the whole idea is of no use. Getting quality ACH leads from a strategic lead generation service is the right approach to knowing your target customers.
Having fresh and qualified ACH lists is the first step to merchant cash advance marketing. However, when you plan to launch a marketing campaign to target ACH leads, it is important to tell your prospects how a merchant cash advance is the right solution for their business. Explaining your prospects how a merchant cash advance is immediate cash and whenever a business needs access to capital quickly to take advantage of an opportunity to launch a new product, purchase inventory or pay wages etc., MCAs makes for an ideal solution.
Here are a few things that illustrate how a merchant cash advance makes the best option and compels your ACH leads to go for this form of alternative funding-
- Unlike the traditional banks that take months to approve loans, a merchant cash advance offers an easy application and approval process with very little paperwork. This is the reason it is called immediate cash.
- A merchant cash advance doesn’t require credit or collateral whereas traditional banks loans consider a business’ credit rating as an eligibility criterion to qualify for a loan. So, there is no fear of losing valuable assets.
- One of the main benefits that your ACH leads would be obliged to know is that a merchant cash advance is the kind of alternative funding that doesn’t place any restriction on the use of cash. A business owner is free to use the funds the way they- to buy equipment, pay wages, etc.- to enhance their company’s operations while a traditional loan restricts the funds usage.
- Explaining to your ACH leads that unlike traditional bank loans that may affect their credit rating, the merchant cash advance is the business loan that won’t show up on your credit report. So, when applying for this type of business funding, a business owner doesn’t need to be concerned much about it as this won’t have any effect on the organization.
SEE ALSO: Why Businesses Prefer Merchant Cash Advance and How You Can Fund Them
When you think about launching a merchant cash advance marketing campaign to target ACH leads, it is important for you to tell your prospects how this alternative business funding makes for an ideal choice.