Merchant cash advance is a growing industry that allows small business owners to receive quick funds to finance their emergency purchases without having to apply to the major lenders and follow strict qualification criteria. Cash advances are being provided in exchange for daily payments that are a percentage of the sales made by these business owners. Although the industry was established in the late 1990s, it has significantly grown in the past couple of years. This is due to the recent financial crisis. All providers have an interest in finding out good deals for funding a small business. In order to achieve that, they use leads. Merchant cash advance leads are a necessity for the merchant cash advance providers.
Merchant cash advance is different from loans. Actually, they are the sale of a percentage of the future credit or debit card sales of the funded businesses. With the growth of the industry, the interest rates also went up to 30%. In order to prevent any legislation attempts from the different state authorities, cash advance providers came up with self-regulating standards.
The targeted market includes retail, restaurant, and service companies because they have massive daily credit and debit card sales. These could not qualify for traditional loans because of a poor credit score or lack of guarantees.
Experts claim that the market has a further growing potential, while only 10% of which is worth more than $5 billion. Therefore, merchant cash advance leads are of great importance for all already established or brand new market players. Leads are being provided by third party lead verifying companies that operate with a data store of the potential customers’ business phones and other contact information. This way, lenders could contact their potential clients directly.
Such companies provide leads that contain details of business owners with high levels of daily credit card sales. The leads should also be interested in receiving a merchant cash advance. This makes things easier for advance providing companies because they don’t need to advertise directly via phone or spend money on telemarketing, reaching out to businesses who aren’t interested in their products. A much more convenient way would be contacting a live leads provider and thus saving both time and money. This involves acquiring information on business owners with a higher chance of qualifying for a merchant cash advance.
Those leads providing companies work with a trained team of experts who is able to follow the particular requirements of the cash advance providers to achieve their marketing and sales goals. Such companies work not only with media, online and public records and resources, but also use online questionnaires to fill out the lists of leads for cash advance potential clients. The lists are a subject of another filtering with the particular requirement of the client. Thus, both the provider and receiver of the cash advance would get exactly what they want. This is an excellent way to save time on advertising while spending more time on the actual selling of the product.
Merchant cash advance leads themselves are a product that is for sale. While cash flow is the biggest financial concern for business owners, merchant cash advance leads are the easiest, fastest and simplest way for establishing relations between cash advance providers and those in need of funding.
Merchant cash advance leads companies provide at least two contact possibilities for the leads- their business phone and email. They prefer businesses that have been established at least 6 months prior to the lead request and have a monthly volume that exceeds $10,000. These companies provide their clients with the company name, contact name, phone number and email of the business.
Leads that are being provided are of businesses having cash flow issues and requiring a fast funding source. Of course, they all have been thoroughly researched by the lead providing company’s team of highly trained experts and the list have been filtered in order to exclude those who aren’t appropriate to the needs of the merchant cash advance provider.
Lists of potential leads are being pre-ordered on a weekly basis so that they are always precise and genuine. Several network strategies are being used. Among them are keyword search, direct emailing and others. Thus, leads are perfected in order to be used by companies that are trying to establish a consistent marketing strategy. This strategy should aim towards delivering a steady flow of leads which will convert into predictable sales. Therefore, it is particularly important that the leads are fresh and open for merchant cash advance offers.
On the other hand, leads providing firms aim towards establishing not only precise lists of leads but also towards establishing a stable circle of clients among merchant cash advance providing companies. Such relationships are of mutual interest to all parties involved.
Experienced merchant cash advance leads providing companies work with highly trained experts who are constantly interacting with their clients so that they are able to provide the most efficient solutions, thus ensuring the success of their clients. Communication is done via phone and email. The leads providing industry is growing and there are more and more players on the market. Some of them have better reputation and are more experienced than others. They assist their clients in evaluating and eliminating risk. Some of them provide competitive prices for their services. Some use specially designed live transfer programs. Some of them work faster than others and are able to provide the leads lists within several days. Some of them work with fewer clients while others try to assist as many as possible.
There are also companies that have developed targeted mailing lists designed to help merchant cash advance providing companies with establishing their own custom strategy for interacting with potential clients. Some leads providing companies offer consulting service to further help their clients to successfully acquire a circle of clients among the small business owners. Initial consultations may also be free of charge as a bonus.
Merchant leads product list typically includes live transfer leads and merchant cash advance leads. Live transfer leads are merchants interested in obtaining funding while being checked for credibility. Merchant cash advance leads are being hunted via direct mailing and industrial partnerships.