Due to the strict eligibility criteria and complexities associated with traditional bank financing, a merchant cash advance has turned out to be the best alternative solution. A merchant cash advance is a popular method of securing a small business loan. They provide access to needed capital to small business owners who wouldn’t otherwise be able to invest in the expansion of their business or find a bridge to carry them through a rough patch.
When a business owner gets 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 that go to the lender. Seeing the benefits, this alternative financing is increasingly gaining in popularity among business owners a MCA provider you understand the importance of building clients in this industry and finding new prospects is becoming challenging. Fortunately, digital response leads list exist that can help you reach target prospects efficiently.
The digital response leads contain information of all those businesses looking for alternative financing that can be your target prospects. These leads lists provide complete information about a business including company name, first name and last name, phone number, state, email address, etc. Once you have access to digital response leads, the next step is to formulate a strategic merchant cash advance marketing campaign that will make selling business loans efficient and fast. Explaining the many merchant cash advance advantages will help you launch a successful merchant cash advance marketing campaign-
Easy loan application process– Traditional bank or small business loans take a long time to process and require a large amount of paperwork and many meetings, whereas an MCA requires much less documentation and takes less time. Typically, you get cash in less than a week. So, when approaching your digital response leads, explain how easy and simple this loan application process can be.
Higher approval rates– To qualify for a bank loan, a business needs to show a track record of debit or credit receivables. When a business has a bad credit rating or no credit, they cannot qualify for traditional loan. In 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 needs collateral and can risk your assets, a merchant cash advance doesn’t need any kind of collateral. A business doesn’t need to put their assets such as home or property on the line as collateral for a merchant cash advance.
No restriction on cash usage– This is one of the important benefits that need explaining to the prospect when marketing merchant cash advances. The funds from a merchant cash advance are free to use as the loan buyer chooses. 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 the capital.
See Also: Finding Merchant Cash Advance Leads is challenging? Invest in a Strategic Lead Generation Service!
Explain to digital response leads how a merchant cash advance is the best alternative financing available for a cash-strapped business will help you sell business loans more efficiently.