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.”
The study also revealed that “only 38 percent of small business respondents qualified for a percent of mid-size bank loan within the last three months, compared with 70 percent of mid-size businesses. While that’s up from 30 percent in the first quarter of the year, it is down from a four-year high of 46 percent in the third quarter of 2014.” Moreover, it was found that businesses are even finding it difficult to obtain a Small Business Administration Loan. Only one percent of the small businesses surveyed qualified for a SBA loan over the past three months.
When it comes to alternative lenders, small businesses have had the most success with merchant cash advances. Research has also found that “41 per cent of the small businesses surveyed were able to obtain a merchant cash advance, compared with just 20 percent who were able to get a regular loan from an alternative lender.” While a merchant cash advance is increasingly gaining popularity, finding prospective clients is still a major challenge for MCA providers. Fortunately, UCC lists exist and have helped the providers target the right customers.
UCC lists are the records containing information such as name and contact details of those business who have applied for merchant cash advance in the past and are expecting to seek one again. The best thing about these businesses is since they have already taken out a merchant cash advance, they are familiar with the loan process. Getting highly-targeted UCC lists will help you reach the right businesses and sell loans efficiently.
As an MCA provider, you need to understand that as businesses are considering merchant cash advances over other financing options, it is the right time to target your prospects. And having access to quality UCC leads, the ones who are willing to take merchant cash advances, is a much easier way to find prospective clients than just making random calls and ending nowhere. Moreover, without a relevant UCC leads list, generating leads is quite difficult, especially when your MCA business is still in the struggling phase. So, purchasing a quality leads list from a reputed lead generation service will help you reach your potential customers that much more well-prepared.
SEE ALSO: Give a boost to Your Business with Top Quality Merchant Cash Advance Leads
At Merchant Financing Leads, we excel in providing exclusive high-quality UCC lists that help target the right businesses. We are a team of highly qualified and dedicated marketing professionals who have been in the industry over a decade now and have assisted hundreds of thousands of businesses to find prospective clients and sell MCA loans, thus helping them accomplish their goals.
Looking for fresh business loan leads? Buying our up-to-date UCC lists is the ideal solution. Get in touch today!