Merchant Cash Advance Data
Business owners often find themselves searching for financing options such as merchant cash advance data to boost their cash flow. Out of the many lending firms in the market, there is a slim window of opportunity to make them your client. How can you do it? You need to find these leads and shoot your shot before any other lender does.
Financing agencies should always have a sense of urgency when getting clients. Many US banks saw an upward trend in the number of business loans in 2021. An astounding 10% of small businesses that applied for financing sought merchant cash advances. It’s a 9% increase compared to 2019, which means that there is always a potential customer for an MCA provider like you.
MasterMCA helps you connect with valuable leads who are ready to take you up on your cash advance data offers. Our team of lead generation specialists can build the bridge between your business and potential clients. With our MCA leads, the next person to sign a closing deal with you is just waiting to be discovered.
Quick overview of MCAs
A merchant cash advance is one of the most common financial products that is technically not a loan. Rather, this funding option provides the borrower with a cash advance via a lump sum. The lender will then collect the repayment by getting a cut from every credit or debit card sale. Simply put, the lender buys a portion of the borrower’s card sales.
Businesses applying for a cash advance must meet the minimum requirements of the lending agency. For starters, they should agree to a review of their card transaction receipts. This way, the lender can evaluate whether the potential client has the capacity to pay back the loan.
A merchant cash advance data involves a legal contract wherein both parties agree to the MCA amount, corresponding fees, and the method of collection. This contract can also include the eligibility requirements that the borrower must meet.
The agreement between the lender and borrower depends upon several factors such as:
- Amount of cash advance. This amount is what the lending agency provides as a lump sum to the borrowing business. It is typically based on the financial strength of the borrower.
- Payback amount. Once approved, the borrower will have to shoulder the payback amount. It is the total money owed plus fees.
- Holdback. It refers to the percentage taken out of daily card receipts, which is withheld to repay the MCA.
MCAs are ideal for businesses that need additional working capital immediately. However, not all business owners and enterprises have the capacity to handle cash advance data. How will you find the most suitable prospects who have the intent, ability, and authority to get an MCA?
You will need to secure a list of merchant cash advance leads with the right qualifications you seek. Working with a lead provider like MasterMCA allows you to discover prospective clients conveniently. You will then have a greater chance of pulling them into your sales funnel.
Merchant cash advance data: how they work
MCA leads refer to a business owner or company that shows an interest, whether directly or indirectly, in acquiring a merchant cash advance. They do so by answering surveys or submitting online forms relevant to financing. They can also engage with you proactively by calling or messaging to ask about an offer.
Ultimately, the goal is to find people and businesses that will likely say yes to your products and services. That’s where an MCA lead provider comes in—these experts build the link between you and your future clients. Lead specialists screen and verify each contact, making sure that everyone on the list is qualified for a cash advance.
Every provider will have a different set of criteria when choosing the right leads. These requirements ensure that you don’t need to spend time and effort on generating valuable leads. You will then have more time focusing on optimizing your sales funnel and closing deals.
MCA leads typically must meet these qualifications:
- No bankruptcy records
- No negative dates
- Regular deposits to the business bank account
- Minimum of 12 months in operation
- No legal or tax-related issues
Having a list of leads means having no reason to fall behind your competitors in the market. You can shift your focus on lead conversion rather than lead generation. You won’t have to go through the painstakingly long process of building and implementing a winning strategy from scratch.
Lead generation for MCA clients
There is no instant solution when it comes to lead generation. It is the result of a significant amount of time spent on planning and strategizing. Here is a general overview of the process and how expert providers like MasterMCA can enrich your efforts.
Circulating the offer
The first stage of lead generation is using different channels to circulate your offer to as many prospective clients as possible. The leads can come from anywhere across the Internet and offline. They are probably searching for some information on cash advance data via a website, email, or a live ad. They might even be answering quizzes, surveys, or filling out contact forms right now.
A professional lead generation specialist knows how to reach out to several leads using a mix of new and old tactics. From inbound marketing to outbound strategies and more, an expert covers all aspects of the job.
Merchant cash advance data collection is an indispensable step when generating leads. Building a list with all the vital information regarding the prospect takes a lot of time and patience. The campaign requires proper collation of data to become successful. Every lead undergoes several checks and validations, which require processing the right data set.
With MasterMCA, you get to pick the type of MCA leads that fit your budget. You can have a list of prospective clients with useful and up-to-date information so that you can get started on your sales cycle.
Leads may express their intention to apply for an MCA, but are they ready to acquire this debt? The truth is that you cannot convert all leads to a prospect, and eventually a paying customer. For this reason, you need an expert who knows how to tailor lead generation to fit your requirements and preferences.
The filtering process includes techniques that effectively sort leads according to their position in the sales cycle. Do they really need financing? Are they still trying to decide whether they need an MCA or not? Can they afford to repay it? These identifiers coupled with industry-leading technologies make list filtering for leads efficient and precise.
After leads are filtered, they undergo further validation processes that ensure the correct information of the contacts. These handpicked individuals and companies have the qualities of your ideal clients. Therefore, they are easier to pull into your sales funnel. The intercepting agent verifies each lead and determines whether they are worthy.
MasterMCA implements a surefire strategy for identifying the right businesses that need your products and services. With your cash advance data, you can skip the long and exhausting task of generating leads. Instead, you can focus on boosting your sales funnel!
Owners or companies that successfully pass the screening and validation methods get included in the list of the most suitable leads for your business. These pre-qualified contacts possess the credentials and ability to apply for an MCA program.
Benefits of MCA leads
You probably experienced several rejections before you found a lead that was ready to become your client. It’s tricky to identify their position in the sales cycle and that can lead you to miscalculate their level of interest. They might later realize that they cannot afford a cash advance. That decision costs them nothing, but that’s time and money you will never get back for your business.
You can use MCA leads to avoid these situations. The contacts pre-qualify on a set of standards. That means they need the merchant cash advance data and are capable of handling one.
Lead generation is not a one-size-fits-all solution. You need a campaign relevant to your business nature and budget. Whether you need real-time leads or aged data, an expert MCA provider can provide the perfect list for you.
It’s a cost-effective approach since you can choose the most fitting option depending on your current needs. For example, you can go for aged trigger data if you want the less expensive choice. Alternatively, you can pick live transfer leads for exclusivity, although you do have to pay more for them.
Opportunity for growth
Merchant cash advance data prompts you to devise fresh strategies and marketing plans. Consistently updating your campaigns help you widen your reach in the market. When used right, lead generation can boost your income and usher your growth. It also allows you to diversify your portfolio so that you can maintain your competitive streak.
Implementing stringent checks and validations allow MasterMCA to help improve your lead conversion ratio. You can acquire a list of contacts that are likely to say yes to your cash advance data offers. We target your preferred audience and find valuable leads based on your criteria for eligibility. You will have an easier time guiding them towards a buying decision with you!
Why should you spend money on strategies that don’t provide the return on investment or ROI that you deserve? With the right MCA leads, you will maximize your investment by enhancing your conversions and expanding your customer base.
While MCA lead generation is a paid campaign, you can blend it with organic efforts like SEO. It allows you to optimize your pipeline, which consequently enhances your sales funnel.
Types of MCA leads
- Live transfer leads. This type of lead lets you connect with merchants who are inquiring about MCAs in real time. They are exclusive and very much willing to talk to you and learn more about your offers.
- Aged trigger data. Contacts that have prior inquiries or dealings with financing agencies comprise aged trigger leads. It’s a budget-friendly option that enables you to obtain valuable information like the business name, contact number, and details on previous credit checks.
- Submissions. Complete submissions are those that have sent a business loan application in the past. They give you access to some vital info like their financial health and revenue. This type of lead also reveals any details on their current loans.
- Inbound and web leads. Inbound leads come from email and text messaging campaigns. They are real-time, exclusive, and thoroughly validated.
- Scheduled appointments. Some business owners turn to a lead generation expert who can help match them with the right lender. These leads undergo a thorough screening process, which makes them highly qualified for an MCA.
- SMS and email list. These leads help you avoid dropped cold calls and gatekeepers. You can also easily reach out to your valuable leads through emails and texts.
- Enhanced UCC list. Some borrowers have their information recorded via the Uniform Commercial Code (UCC) filing list. These leads have prior experience with lending processes and are therefore best suited to receive your offers.
Frequently Asked Questions
How can I acquire MCA leads?
You can get your hands on cash advance data leads by choosing the right type of list that fits your requirements and budget. There are many options for how you want them sent to you: email, text message, CRM, or any application you use for business.
Is lead generation sufficient as a lone marketing strategy?
You will find that having a more diverse marketing plan ensures that you can work with a lot of leads and widen your market reach.
How much do MCA leads cost?
The pricing for merchant cash advance data leads varies according to type, age, nature, quality, and provider. In general, the live and real-time leads cost more than aged data.
Are leads exclusive?
Most leads are exclusive but there are some types like aged trigger data that you will have to share with other competing lenders.
Is there a lock-in period when buying leads?
MCA leads are typically on a pay-as-you-go model. That means there is no long-term commitment nor a lock-in contract if you plan on purchasing these leads.
What happens if I get a junk or non-qualified lead?
You can talk to our experts regarding this concern so that we can arrange for the best solution. However, MasterMCA ensures that all leads are thoroughly verified before we send them to you.
MasterMCA is the key to acquiring the best merchant cash advance data that helps your lending business flourish. We can provide valuable leads that you can pull into your sales strategy with ease. We have been instrumental in the success of various companies and merchants, and we can do the same for you, too!