When you operate a business, there is always a need for a smooth flow of cash to run it successfully. Whether a business owner wants to expand, buy new equipment or pay wages, they need extra funds to operate efficiently. For established businesses, funding their operations is easy, but for the startups and those new to the industry, they need extra funds to ensure the smooth functioning of business operations. Traditionally, business owners would go to the bank and ask for a loan. However, qualifying for a bank loan at times can be really tough, especially for businesses with bad credit ratings. So, the business owner looks for alternative funding such as merchant cash advances.
As an MCA provider, you must be aware of the importance of having access to merchant cash advance mailing lists such as UCC leads that help you know your target customers. UCC lists provide complete important information about a business such as name, business name, contact details including phone number, address, etc. of the businesses that can be your ideal customers. Having access to UCC leads will help you know how to reach your prospects and plan a strategic merchant cash advance marketing campaign that persuades prospects to buy loans from you. So, when you plan to launch merchant cash advance marketing, the foremost thing is to get quality UCC lists that will help you know your prospects better. The next is to strategize a marketing plan that will explain your business loan leads the ‘how’ of a merchant cash advance.
When you approach your UCC leads either via mail or email, the very first thing is to acquaint your prospects with how easy and quick this loan process can be as compared to a traditional bank loan. This alternative business funding provides an easy application and approval process. Unlike a traditional bank loan, a merchant cash advance doesn’t have any tough eligibility criteria and a loan is granted based on a business’ total credit card sales. A merchant cash is an advance on future credit card sales of the borrowing business and the repayments are even simpler. To repay the advance, the lender takes a fixed percentage of the business’s total credit sales every day until the advance is paid. The major advantage is that the business doesn’t need to pay back large sums all at once.
SEE ALSO: Want to Grow Your Merchant Cash Advance Business?
More importantly, this business funding doesn’t have any restrictions on usage, the money can be spent any way the business wants. All you need to do is to explain to your UCC leads that they can spend the borrowed funds on any business-related purpose that is beneficial to them- to buy new equipment, launch a new product, hire more talent, initiate more advertising and marketing, purchase another site, revamp the interior and exterior of your building, etc.
Illustrating how a merchant cash advance turns out to be the best alternative funding for cash-struggling businesses will help you plan a strategic merchant cash advance marketing campaign and sell MCAs efficiently.
