Since the traditional banks have stopped small businesses due to their poor credit ratings, the merchant cash advance has increasingly gained popularity as an alternative source of financing among business owners. Though the MCA industry is booming right now, yet MCA providers are having difficulty in finding the right prospects. The good news is that merchant cash advance providers understand that finding and building clients in the MCA industry is not easy. Luckily, ACH leads lists exist to help you reach appropriate prospects.
Automated Clearing House, or ACH, is the electronic funds transfer network that processes debit and credit transactions in batches. Businesses find it a convenient way to receive payments from their customers and also for recollecting funds, especially merchant cash advances. According to a 2015 Perceptions Study, “Research and analysis of supplier activity in the areas of invoicing, payment and remittance, and credit and collections, noted that 83% of respondents currently receive customer payment in the form of paper checks, 71% receive payment via Automated Clearing House (ACH), and 52% receive payment via Credit/P-Card. Alternatively, when asked which payment method they prefer, 63% of those same respondents chose ACH while 25% selected paper checks.” This study helps us see how ACH payments are taking over other methods.
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