Imagine knowing a merchant’s funding needs before they even pick up the phone—sounds like magic, right? Almost. But no, these leads don’t come from a clairvoyant’s crystal ball or some sci-fi gadget. It’s not even about finding businesses that want capital but pinpointing those that truly need it, are ready for it, and qualify for it.
Today’s top merchant leads providers move beyond guesswork. They have adapted to this era of innovation, where the real competitive edge lies in leveraging data-powered insights. Let’s learn about what type of data is collected by MCA providers to decide the high-potential and high-intent merchant cash advance leads.
Business Name, Contact Data and Decision Maker Info
The business name is a prominent thing that marketers need to build a rapport with. Merchant cash advance leads include key details such as contact, business address, email address, and information about the decision makers. Verified contact information ensures smoother outreach and faster deal flow.
As a top MCA provider, we have a dedicated team for data validation that confirms the prospect’s identity. Though it’s not always possible to directly contact the business owner, it always remains our goal to collect such crucial details.
· Credit History and Existing Loans
Though MCAs are more supple than traditional loans, a business’s and its owner’s credit history is still a matter of concern for some cash advance providers. It’s how they analyze the quality of MCA leads. They gather data on clients’ credit scores to predict the likelihood of paying back. Additionally, past borrowing history, existing debts, or prior MCA usage can indicate a business’s funding appetite and reliability.
Apart from that, many leads, especially MCA live transfers, are approved only after evaluating their current loan status. Do they have any ongoing loans or outstanding debts? While showing income is one thing, knowing how that income is distributed across multiple expenses is a crucial matter for the creditors. Data about a merchant’s available resources and existing obligations helps lenders gauge their repayment capacity.
· Total Amount and Reason for Funding
Another data point MCA providers collect from businesses is the amount of cash they need and the reason behind it. Companies can even track the monthly revenue of a firm, especially if a large amount is requested.
Are they planning to expand? Do they need new equipment? Have they fallen behind on payroll? While the reason may be personal, understanding the motivation behind the funding request provides valuable context. It also helps cash advance lenders align their offer with the merchant’s specific needs.
· Business Type and Industry Classification
Not all types of businesses are qualified for merchant leads; they must have a list of ideal candidates. It’s where marketers rely on industry classification codes like SIC (Standard Industrial Classification) and NAICS (North American Industry Classification System) to identify the best merchant cash advances.
For instance, retail, construction, healthcare, and trucking are among those MCA leads categories that face seasonal cash flow challenges. Also, they look for loans to meet their frequent short-term expenses, as well as their inventory and equipment needs. So, these candidates are prime merchant leads for MCA offers.
Further, different MCA lead advertising strategies are implemented to get higher conversion rates, stronger client relationships, and faster deal closures from the merchant cash advance leads. Merchant Financing Leads has been providing MCA live transfer, direct mailing, and merchant leads for over 12 years. With data-driven techniques and innovation, we deliver real results. Find your business prospects. Let’s get started.