What is UCC Data?

UCC stands for “Uniform Commercial Code”. It is a set of regulations to maintain consistency across all commercial transactions, including lending agreements. By law, every time a lender and debtor enter an agreement together, whether this is in the form of a traditional loan or merchant cash agreement (MCA), this is noted in a UCC-1 form. This form is a notification that the lender has a security interest in the debtor’s property (usually private property) as collateral. It is the lender’s responsibility to file this form with the state, which then publishes it.

The form contains a lot of information that can be useful to lead generators if utilized correctly. Each state has their own form so data may differ slightly, but all of them should include the following basic information: the name of the company that is borrowing funds (and sometimes the name of the business owner), the address of the company, the lender’s name and address, and a description of the debtor’s property that is being used as collateral.

This information is all publicly available, for all states. All you need to do in order to access it is simply go to the Secretary of State website for that state, and then search up the name of the business that you are looking for. Once you have done that, simply click on the file number to view the UCC-1 record of that transaction. Some states also allow people to generate search reports, which is a complete list of all debtors and secured parties, not just one.

Why should you be looking into UCC Data?

There are a number of benefits to having ready access to such information. Firstly, the data is 100% accurate. As these are government filings, you can be confident that all of the information was completed truthfully. From this, you can then determine whether or not potential leads have good credit, what kind of patterns of lending are occurring in regions close to you, and the list goes on. If you can understand the financial history of your potential lead through the use of UCC data, you can begin to understand more about their likelihood of being interested in an MCA, and what that might look like for them. Acquiring this data enables your sales team to make targeted sales pitches, as they already know exactly what your lead is looking for. If you can provide that to them straight away, they are far more likely to be converted to a sale, at a much more efficient rate. Equally, this data can also be used to flag potential financial concerns that may prevent a lead from being eligible for a merchant cash advance (MCA). This is obviously important when trying to vet candidates.

UCC data is a great resource to have when it is used in conjunction with other information sites, such as the US Business database and bankruptcy lists. When used correctly, all this data together can help you to narrow down your ideal leads, to ensure that you are connecting with the right people – the ones who are more likely to be converted into a sale. These sources of information are also free, and will highlight local as well as national trends and patterns. Most MCA lenders specialize in a niche agency or type of business they support, however obtaining national data trends for this niche can be difficult to obtain for small lenders. Through UCC data you can understand more about your target market and their needs, allowing you to develop your own service to meet these needs directly.

Having access to UCC data also provides greater opportunities for tailored sales pitches when you contact your leads. These forms display financial insights that you can use to open your discussions, allowing your leads to know that you are capable of offering exactly what they are looking for. It also helps to indicate that you have done your due diligence before contacting them. Cold calls can be incredibly inconvenient at the worst of times, especially when appropriate research has not been conducted beforehand. By arming yourself with the knowledge of what your lead needs, they are already more likely to listen to your offer.

Although using UCC data is certainly not a secret within the industry, it is still heavily underutilized. This is likely due to the fact that most companies are unsure how to use the data to its maximum usefulness, so they focus on alternative generation methods that are more straightforward. However, by taking some extra time to develop a data analysis framework for UCC data, you are able to access a whole new demographic of leads, plus in-depth information about their financial needs, which you can use to develop your sales pitches for them. The world of MCA lenders is continuing to grow, making it harder to find unique leads for your one business. By seeking non-conventional methods of acquisition you may be able to tap into a high need that is not yet being serviced by other parts of the market, or is still in need.

Perhaps the only downside to using UCC data is that it is very time-consuming to harvest. The state websites are not set up for easy browsing and comparisons. Instead, you are required to check files one at a time. There are also very few filters on the data, making it even more labor-intensive to compile into a format that is useful for such data analysis. For small companies who need large numbers of leads, this may be time and resources you do not have to spend. It can be a great method to fact-check existing leads, but it may be too time-consuming to hand pick enough for your business if you have to extract them independently. Fortunately, there are a number of different third-party support agencies who are able to help you with this.

Let MasterMCA help you

The good news is that you don’t have to do it alone. MasterMCA has created a unique database that allows us to filter through UCC data for you, in order to efficiently produce potential leads for your business. All of our UCC data is correct and up to date, so you can feel confident that you are contacting all potential leads.

There are so many benefits to partnering with a lead generation company such as MasterMCA to help you secure leads through UCC data. MasterMCA has been in operation in the field of merchant cash advances for over 10 years. Our team is highly skilled and experienced, and we want to be able to share that success with you. We work closely with all of our clients to determine what you are looking for in leads, and then we work towards generating them. Our sole focus is to generate high quality leads for your business, so that you can focus on doing what you do best, which is sell your service. We guarantee efficiency, accuracy, and quality in all of the leads that we provide.

MasterMCA generates unique leads from a wide range of sources, to ensure that your business is connecting to all possible lead types. Through our experience in the industry and through communicating with you to understand your target audience, we are able to develop a tailored, multifaceted approach to generate the outcomes that you are looking for. We can provide you with leads that originated in UCC data, alongside more traditional online and offline lead generation methods. Our experience in this industry helps us to create tailored generation campaigns that are guaranteed to work for you and your business.

Before they are transferred, all of our leads go through our vetting process to ensure that all information is correct, and they are eligible for your services. We understand the frustration of paying to receive consistently bad leads that have not been vetted, or do not come accompanied with the most up-to-date information. Your sales team can be confident that when they do receive leads, they are ready to go. Not only does this improve the workflow for your team, it helps to provide your leads with a smooth transition through your sales funnel as well, from start to finish.

Our service does not finish once we have transferred the leads to you. Our team is always available for follow-ups and feedback, to ensure the leads we are generating fit seamlessly into your sales funnels. MasterMCA utilizes the latest technology to harvest these leads, allowing us to be flexible according to your needs. This technology also allows us to set up alerts for future UCC data – as UCC-1 forms are filed, our technology allows us to check these in real-time to determine whether or not these would be potential leads for you. This helps to maintain a swift efficiency with our services, and guarantees that you are receiving the most up-to-date data possible. We pride ourselves on maintaining strong relationships with our clients to ensure their success.

FAQs

Is UCC data publicly available?

Yes, all UCC data is publicly available and free to view. In order to access this, go to your State Secretary’s website (or the equivalent website for the state that you are gathering data in), and search up a business’s name. Unfortunately, there is no way to view or filter the entire database of UCC information on these websites.

How can UCC data help me to generate leads?

UCC data shows all of the businesses that have already received an MCA or business loan. You can use this to understand which businesses already know of these financial services, and therefore which leads may be immediately more interested in your offer, as they may want the services again. It can also be used to corroborate information on leads found from other sources. This helps you to verify your leads, and places your sales team in the best position for when they make contact with the leads.

Is there a way to access UCC data from multiple states?

There is no way to view a comparison of UCC data across states on official government websites. Unfortunately at this time if you want to operate independently, you will need to check each state website for wider trends within the data. However, agencies such as MasterMCA have up-to-date databases that collate data from all states, storing it all together for easier reviewing. This database is maintained and offers up-to-date information, making it one of the most convenient ways to extract UCC data and turn it into leads.

How does UCC data turn into an MCA lead?

Data obtained from UCC-1 forms helps lenders to identify what businesses are in need of financial support, based on their previous financial history. It can also be used to identify a range of potential leads that would not qualify for an MCA, namely those who have a poor financial history and have defaulted on loans previously.

How can UCC data help me to increase lead generations for my business?

Utilizing UCC data offers you another source of lead generations you may not have been tapping into. It also provides you with accurate, up-to-date information about a business and its financial status, helping to reaffirm information about a lead you may have obtained through a different method.

Can MasterMCA help me generate leads through UCC data?

Yes, MasterMCA can! Our team filters through the data that we collect from UCC forms to generate a list of leads that aligns with your target demographic. It is then checked to ensure that all data we have is as up-to-date as possible, before being transferred to you for further consideration. We can provide you with UCC data leads from across the United States, or in a particular region, depending on your need.