Working in the merchant cash advance industry, getting leads, and encouraging the customers to buy MCA loans requires planned strategies, resources, time, and an understanding of the customer’s needs. As you are already in the merchant cash advance business, you have probably tried it before and probably have had different experiences in the past. Thankfully, getting an MCA leads list is easier now. These lists will provide you with the important information about your leads, such as contact numbers, addresses, etc.
Month: April 2016
Count the Benefits that Your MCA Leads Can Get from a Merchant Cash Advance Loan.
Taking a business loan from a traditional bank involves tons of complexities. It’s just not easy! Poor credit history or no credit history makes it very difficult to get approved. But, that’s how traditional banks operate. So, why go the complex route when there is a much simpler way to get your business financed?
Merchant Cash Advance Loans are the quicker and easier way to get the funding you need!
So, whatever business goals you have—adding more stock to your inventory or hiring new staff, paying salary to your staff or buying a new piece of equipment—a Merchant Cash Advance is the right fund provider for your business. And on the top of that, the entire process of getting the loan is very easy! You don’t need to struggle with any drawn out application process or have to face any unnecessary delays. There are multiple benefits that your MCA leads can avail from a merchant cash advance loan.
Understand Merchant cash advance loans first
In simple terms, merchant cash advance loans are lump sum cash provided to your MCA leads against the future sales of their business. This is the only principle on which merchant cash advance loans operate. You need to commit a percentage of your future sales to the MCA lender. You can borrow this advance based on your current sales deposits, and then you’re absolutely free to invest the money the way you want for your business. And your MCA leads can avail this type of advance instantly and more conveniently than any other funding option.
So, sit back and count the benefits. There’s a lot that merchant cash advances promise.
Easy documentation
There is no arduous paperwork involved with a merchant cash advance loan. MCA providers operate on very simple criteria. Monthly credit card returns and the length of time in business. Say, the minimum credit required is $5000 and the time in business is nine months. Your MCA leads just need to process two months of bank statements, a copy of a mortgage or lease statement, and identification proof to streamline the whole application process.
Speedy approval
The approval process depends on how your business is performing in the market presently. There is nothing to evaluate from credit reports. The basic need is the stability of your business and the monthly income of the past few months. That’s why the approval rate of a merchant cash advance loan is really high as compared to other commercial loans.
SEE ALSO: Targeting the Right Market: The Key to Optimal Revenue in the MCA Business Loan Industry
Instant access to cash
The fast approval of your business loan application gives you instant access to the cash for your business needs. Normally, it just takes a week’s time to get the cash in hand. So, the entire process consumes less time and lets your MCA leads plan their business ahead.
Easy and relaxed repayments
When it comes to repayment, the amount varies because it depends on the monthly sales volume your MCA leads generate. In simple terms, higher sales mean higher deposits and lower sales mean lower deposits, which is quite different from a fixed monthly installment when it comes to commercial loans.
Selling Loans to ACH leads? Know the characteristics of a good ACH mailing list
One of the biggest decisions that business owners face is how and where to receive additional capital during troubled times. Businesses need a reliable capital source, and this is where MCA loans fit in. This type of working capital loan has grown wildly popular due to the very flexible requirements for approval. If you’re selling loans to ACH leads, it can really benefit you. Through this list, you can reach the right people at the right time. This ACH mailing list is an asset to you, as your target audience is only a direct mail away. For an MCA provider, these leads are effective, as they bridge the gap between the lender and borrower.
There are plenty of opportunities for the merchant cash advance providers to look for prospects who are in the need of funds to sustain in the market. But how can they ensure they’re targeting the right people?
Executing the right technique to reach people really brings fulfillment to the efforts you put in. And this is how the successful leads are generated and success stories are created. To receive such outcomes, you need to know the characteristics of a good ACH mailing list. You need to be sure that you’re adding value to your customers’ lives before bombarding them with your messages. So, try building a fruitful and long lasting relationship with your new contacts.
A good ACH mailing list has certain features. Get to know this right here, from us, and build a strategy that delivers sheer success to the campaigns you launch!
Authenticity
It’s good practice to ensure the authenticity of the list prior to executing any strategy further. This will surely improve the deliverability by ensuring your contacts will receive your mail.
Keep the focus clear
A key to success with a good ACH mail list is having a firm grasp on your target audience. These parameters should align directly with your marketplace position. Once you’ve identified the specific types of people who are most likely to derive value from your expertise, you can work with your mail list. Be specific. Really specific. The more detailed demographic information you can provide (e.g., region, state, city, title, company, interest, etc.), the better quality list you’ll get.
Target audience
That’s the key! Identify your target group and plan your strategy accordingly.
SEE ALSO: How Do ACH Lead Lists Fit into a Merchant Cash Advance Business?
DO A/B tests
A/B testing is a good habit to establish. It will always help you learn more about your recipients. When you are planning your campaign for your newly purchased list, consider dividing it into two or three equal splits. Test your subject line. Test the call to action. Test the color and whatever else you can think of that might help you better connect with this group the next time around.