In the world of financing MCAs, one of the most important aspects of business is seeking leads to develop. There are a number of tried and true methods for sourcing these, but businesses are always looking for new and innovative methods to connect with the people that need them. So why not try UCC leads? They are an affordable and almost unlimited opportunity for you to find people who need you. You can source these yourself, or you can partner with a trusted agency to secure these on your behalf.
What are UCC leads?
UCC leads are an easy way to obtain leads for your merchant cash advance operation. UCC leads are obtained through looking at UCC-1 forms, a type of legal notice for businesses in the United States. Every time a creditor and debtor enter an agreement together, this is solidified through the filing of a UCC-1 form. This form identifies the property or assets that the debtor is using as collateral, and gives the creditor permission to take possession if the debtor defaults on their repayments. These forms are filed by the creditor, and they become publicly available on the Secretary of State’s website, wherever the business is situated.
These forms are valuable for MCA providers because they contain a lot of information about businesses and their financial needs. While UCC-1 forms and their data may differ slightly between states, they will all include the following general information: the name of the business taking the loan, the address of the business, details on the size of the loan, the property used as collateral, and the name of the lender/lending company. Often, you may also find the name of the business owner.
UCC data such as this can offer you a wide range of opportunities as an MCA lender. Firstly, it identifies businesses that have previously engaged with lenders, indicating they may require further financial support in the future (and would be open to it). It can also help to identify those with a poor financial background, who you can immediately tell may not pass a vetting process for an MCA. Using this information, you can now begin to compile your list of leads. The benefit to developing UCC leads is that you already have all of the information necessary to create a successful, tailored sales pitch. Your sales team is aware of their market demands, their business needs, and even their previous financial history. You can now open with a direct offer you know is going to meet their needs, making them far more interested to hear what you have to pitch to them.
It can also help if you know that your lead is already experienced in the world of non-traditional business loans. Merchant cash advances do differ from traditional business loans in a number of ways, including how they are paid back. While there are significant benefits to these advances and they are a great fit for many businesses, they don’t work for all. Liaising with leads that are already aware of the service you can provide (and may have already worked with a similar lender) increases their chances of being a warm lead that you can convert more efficiently. This also means that you can see whether or not the lead has previously paid off an MCA, helping you to determine whether you would like to be their future lender.
The MCA lending market is growing exponentially, and there are always going to be a finite number of businesses in need of financial support. This is why it’s important to seek leads that have not yet been over-exploited by traditional generation methods. UCC leads are a relatively untapped market, offering you enormous amounts of data your competition may not have access to. This enables you to contact unique leads, but it also allows you to better prepare for a lead that may have already been cold-called two or three times prior to you reaching out. You want to make sure that you stand out among the crowd, and this is one way to do it.
UCC leads are a great option to use alongside other lead generation methods, to ensure that you are canvassing as much of your eligible market as possible. There are identified benefits to working with leads that already have experience with MCA, but this should not be exclusive – there are so many online and offline opportunities to connect with first-time MCA borrowers. For maximum, high quality lead generation results, we recommend incorporating UCC leads into your existing marketing tactics.
Securing your UCC leads
UCC data is freely available on all State Secretary websites. Simply locate the corresponding website for the state the records were filed in, and search for the filings by business name. If you have the file number of the UCC-1 form you can often search directly for this as well. Your search should pull up all of the information that you are looking for. You can also do a slightly broader advanced search, which allows you to bring up all UCC-1 filings for a particular business type or group, e.g. “Nonprofit Mutual Benefit Corporation”, or more broadly “Corporation”. You can choose to narrow the search down by adding time frames to this as well.
Unfortunately, that is the extent of the searching and filtering that you are able to do on State Secretary Websites for UCC leads. It is still a great opportunity for those who know exactly what they are looking for, but does not offer opportunities to search through a particular niche field.
Obtaining UCC leads can be time consuming
Perhaps one of the reasons that UCC leads are not as common as other types of leads is the fact that they can be somewhat difficult to obtain. UCC-1 filings are publicly available, but the websites they are on are not designed for you to harvest information from. If you want information about a particular business, you can search them by name and find their specific records. There is no way to filter these databases to see a list of all UCC filings that meet certain criteria. There is also no way to see all UCC filings at a national level – these are hosted on state websites only. If you wanted national information, you would need to independently search each state’s website and compile the data. This would then need to be constantly updated and maintained as new files were uploaded. Although this process is not impossible, it is time and resource-intensive, which not all MCA lender companies may be able to afford.
For smaller companies that can’t invest the time and resources to scrape all this information, this is why they choose to pursue alternative methods of lead generation. It is simply not worth the resources to build a database from all of the records, and to adequately maintain this. Fortunately, there are a number of lead generation companies who have done the hard work for you.
Looking for UCC leads? Let MasterMCA help you find them
MasterMCA has been working with companies for over 10 years to generate high-quality, unique leads. We have experience working with companies of all sizes, across a wide range of different industries. There are a number of different reasons why businesses prefer to access MCAs compared to traditional business loans, but these are generally seen as more efficient and easier to obtain. We strive to provide MCA lenders with the leads they need to thrive, while continuing to uphold a model of service that facilitates this efficiency and ease.
We utilize a wide range of lead generation methodologies including UCC data scraping. This helps us to provide our clients with data that is correct and up-to-date, so that their sales team can focus solely on closing the deal. All of our partnerships are tailored to meet the needs of our clients, so if UCC leads are what you are interested in, we can provide that for you. All of our leads are also vetted and checked for eligibility before they reach you, to increase the likelihood of converting to a sale. We understand the frustration of purchasing a batch of leads that are all dead ends, so we strive to ensure that all of our UCC leads are still active and contactable based on the information that we receive.
Part of what helps us to stand out from our competition is our dedication to your success. We maintain strong relationships with all of our clients, helping us to understand exactly what leads you need, and how we can work to provide those. We utilize the latest data analytics to continuously refine our methodologies, increasing the quality and quantity of the leads that we are able to provide. This data is shared with you, allowing you to track your own successes. By outsourcing your lead generation, you are able to focus on what you do best: providing clients with the provision of an excellent MCA service.
Many of our clients choose us as we provide cohesive, wraparound services that do not end at the point of transfer. Our dedicated team is always available to answer any questions or provide support, increasing the success of your sales team. We also value the feedback of our clients, and we continuously strive to provide high quality leads from a wide range of sources, including UCC data.
What is a UCC lead?
A UCC lead is an MCA lead that has been generated through scraping UCC-1 forms from Secretary of State Websites. These forms are uploaded every time a business enters an agreement with a lender, acknowledging the collateral the lender can access if they default on repayments.
What kind of information can UCC leads provide?
These leads will include contact information, information about the business (e.g. address), their previous lending history, the type of assets used as collateral, and any potential financial struggles they may have encountered with the loan.
What are the benefits of using UCC leads?
There are a number of benefits to seeking leads from this source, but many businesses appreciate the accuracy of the data, and the depth of data. As these leads come from government documents, they offer the most accurate and often the most up-to-date information you can access. The information they can provide about financial needs is also an asset as it allows your sales team to focus on providing exactly what the lead is looking for.
Are UCC leads expensive?
UCC leads are affordable for many businesses, and lead generation agencies will often provide different packages to support different budgets. If you are interested in securing UCC leads but want to understand more about the cost per lead, feel free to get in touch with the team from MasterMCA today.
Can you get live UCC leads?
No, UCC leads are not live, they are sourced from previous filings. However, when generating your leads through agencies such as MasterMCA, you can specify if you would like your leads to be generated within a specific timeframe. This helps to reduce inaccuracies in data that can come from using very aged leads.
How does MasterMCA source UCC leads?
We have developed a database that is constantly updated, which holds UCC data from across the United States. We are able to filter this to secure leads that match the profiles that our clients provide to us. We vet all of our leads for eligibility before we transfer these to our clients.
Can MasterMCA provide me with UCC leads?
Yes, we can! MasterMCA works with a range of clients across industries to secure MCA leads through UCC data, and we would love to help you as well. If this is something that you are interested in, get in touch with our friendly team today.