What is an unsecured business loan? An unsecured business loan is a type of loan that doesn’t require the borrower to pledge any assets as collateral. Instead, lenders typically evaluate the borrower’s creditworthiness, business financials, and cash flow to determine eligibility and loan terms. In other words, an unsecured business loan doesn’t require a business owner to have property or something of value to put up against the loan or cash advance.
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Unsecured Business Loans & High Risk Lending Options
A common option for a business that is seeking unsecured capital is a Merchant Cash Advance or an MCA. These types of loans are high risk, unsecured, and short term. The interest that you have to pay is extremely high. Consequently, lender can’t even refer to it as interest or a loan… they are required to call it a factor rate instead of an interest rate. So if someone is borrowing $100,000 and paying back 30% – they’d be paying back $130,000… but the factor rate is 1.30 rather than saying it’s 30% interest.
Another thing to consider when considering the math is the term… it is 12 months where it would make sense to think of it as 30% APR (Annual Percentage Rate)? Or is it a much shorter term like maybe 4 months? Now what’s the interest rate? Who cares… you’re not supposed to call it an interest rate anyways. Perhaps that’s because if you did do the math and tell a client the “interest rate” it would be too high and would be considered usurious? In the United States the “usury laws” are set at the state level regarding maximum interest rates and these laws are there to protect borrowers from predatory lending.
Unsecured Leads For Business Loan Clients
As a lender you are far too busy dealing with training, collecting paperwork, and chasing down borrowers to sign loan docs. Our business loan lead system is designed to make it easy so you can concentrate on your daily tasks. Maybe you’re looking for cheap business loan data to drive your own leads through email marketing, AI programs, text message campaigns, or cold calling with your team. Our aged leads are a perfect fit and can be purchased for as little as a penny per lead depending on your order size!
If you’re looking for a list of borrowers that have applied for funding recently – we’ve got you covered with our Trigger Leads for unsecured business funding. We obtain these leads fro the major credit bureaus like TransUnion, Equifax, and Experian. Trigger leads are a marketing tactic used by lenders, insurance companies, and other financial institutions. They occur when a consumer applies for a loan, and the credit bureau then sells that information to other companies who can then market their services to the consumer. This is often perceived as a negative experience for consumers due to the influx of unsolicited offers. You can pick these up for as little as 1 penny per lead depending on your order size.
Have you heard of UCC Leads? UCC leads, are public record, typically generated using an internet scraper that searches the Secretary of State websites for businesses that have taken out loans or other forms of financing. This is a great way to find companies that have taken out a deal in the past. Maybe they need more and cold be searching for a second or third position. Or maybe they need a consolidation where they can get some additional working capital after paying off other loans or cash advances.
Why Synergy’s Unsecured Business Loan Leads?
Synergy was started in 2010 as an internet marketing company. We specialize in website design, SEO, SEM, and social media marketing. In 2010 we did not sell leads but focused on custom internet strategies for all businesses instead. We currently have thousands of clients using our internet marketing. We saw how big the business loan industry was getting and decided to become a lead vendor. MCA was clearly becoming the new gold rush and we wanted to get involved. Most of the lead companies were sub par. Most were fly by night companies that were here today and gone tomorrow. Many were operating overseas with a total disregard for ethics.
Pricing For Unsecured Business Loan Leads?
- Basic Website – $499 & $49 / month
- SEO Website – $1,999 & $499 / month
- Social Media – $199 & $49 / month
- Google Adwords – $499 & $99 / month
- Aged Leads – 5 cents per record w/ no minimum order
- Hosted Predictive Dialer – $100 per seat / month
- Web Leads – $1-3 per lead w/ no minimum order
- Aged Live Transfers – $3-5 per lead w/ no minimum order
- Appointment Leads – $10-$20 each w/ no minimum order
- Live Transfers – $20-$40 per lead w/ no minimum order
- Virtual Agents – $12 per hour – 25 hour weekly minimum
How Do We Qualify Unsecured Leads?
Synergy has minimum qualifications for each business loan lead. Our leads must meet the following criteria in order to be qualified:
- 500+ FICO
- 6 Months + in Business
- Active Business & Active Bank Account
- $15,000+ Monthly Revenue
- Interested in Funding Now
- Serious Intent
- No BK, Defaults, or Judgements
Return Process
Synergy will return any leads that do meet this criteria if the lead is a Live Transfer, Real Time Lead, or Appointment Lead – phone verified leads only.
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Unsecured Business Loan Leads – Details
Our unsecured business loan leads are double verified. We call business loan data, UCC leads, aged leads, click funnel leads, email prospects and internet leads. Synergy has one hundred lead websites that are highly responsive. We run email campaigns as well as Pay Per Click Advertising on all major search engines. During promotional periods we run television commercials, radio broadcasting, and direct mail campaign to generate more leads. Synergy uses many marketing programs to generate leads. Approximately 50% of our unsecured business loan leads are from inbound calls.
Our agents confirm the lead details over the phone. They confirm all of the information that is listed below. Our sales agents are highly trained. We train to build rapport, convert cold calls, create hot buttons, and set solid appointments. The lead details are sent to our quality control team. QC reviews each business loan lead before they are approved. They use a critique system in order to ensure our unsecured business loan leads are always the best. You may want to consider trying our Debanked MCA Leads.
What Do You Get With Unsecured Business Loan Leads?
- Name
- Business Phone Number
- Cell Phone Number
- Fax Number
- Requested Amount
- Why do they want the funds?
- What state are they located in?
- What industry are they in?
- How many loans now?
- Balances of the loans they have now?
- Owner of the business? Must answer yes!
- How long have they been the owner?
- Need the money right away? Must answer yes!
- Deposit $15,000 or more per month? Must answer yes!
- Do they process credit cards?
- What is their credit score?
- Do they have any equity?
- Issues getting approved within the last 30 days?
- Best time for the lender or broker to call you back?
Bad Lead? What Happens Next?
We understand that returns are going to happen. So we built in returns: You can return up to 25% of the leads if they do not meet the minimum qualifications:
- No longer interested
- Already funded & no need now
- No BK, judgement, or default
- $15,000 per month
- Contact name not matching phone number
- 500+ FICO
- 6 months+ in business
- Personal bank statement Statements
Our return policy is simple, if you have these issues we will replace a real time lead or live transfer. Just reply to the email you received for this lead and tell us why you are requesting a return. All of our calls are recorded so we will investigate on our end. A lead will be added to your total right away. The investigation is for our own internal purposes. You can return up to 25% of your total leads purchased with any order. Obviously this return policy is not valid for aged leads.
What Is The Difference Between Synergy And Other Companies?
This is a good question and it all depends on the vendor. Some lead vendors sell their database as many times as they can. These leads are beat up and over-contacted. If you are calling leads and the borrower says not interested, don’t call me again, I’ve already been funded, or anything like that… the leads are probably oversold.
Many business loan lead providers are selling UCC data. UCC data is filed with the secretary of state when a loan is dispersed to a small business. Some lenders may choose to file the UCC immediately and others may only file the UCC if the borrower misses payments. These UCC leads were a staple for every lender in the past. Now these leads are all over contacted. UCC business loan leads are probably the worst leads you can buy.
Does Synergy Sell Aged Leads?
Aged leads can be a great alternative to UCC leads. Aged MCA leads are best when you have a larger number of agents. Often you have an automatic dialer. With an auto dialer one agent can make hundreds of calls per day. With aged unsecured business loan leads you are calling businesses that inquired about a business loan. They already understand the process. This should make it easier to get a package submitted.
B2B Data
If your agents call using Info USA leads, Sales Genie data or the Yellowpages you can expect to get a lot of cold leads. Many owners wont want any money, won’t be interested, and won’t even take your call. You will find unsecured business loan leads are much harder to close this way. If your typical agent works eight hours per day and makes forty calls per hour they can make 320 calls per day. Of the 320 calls they will probably get 1% that “might be” interested in taking a loan. So, after pounding the phones all day your agent finds three people who “might be” interested. Here’s the issue, once the borrower sends in the bank statements and finds out it is a short term MCA they are “not going to be interested.”
Aged Unsecured Business Loan Leads
With aged leads you can expect to make fewer calls and generate more unsecured business loan leads per day. Let’s just imagine that your agent still makes 320 calls using the auto dialer. Now rather than getting 1% interest you can get 5-10% interest. Now that same rep can generate 15-30 business loan leads with the same effort. Realistically… the talk time will go up, the number of calls will go down, but you get the point here. Your agent be more productive and they will enjoy the job as they will be talking to people who want to talk to them.
Finally, once the borrower sends in their paperwork and gets an offer they won’t be shocked when they see a merchant cash advance offer! Aged unsecured business loan leads can seriously increase your profitability. Compared to cold calling on strictly business data… unsecured business loan leads can take your company to another level!
Disclaimer
Disclaimer: Business Loan Leads are not guaranteed to convert. Every company has their own agents who have different sales skills. Each company has their own follow up systems that may yield different results. Companies have their own lenders where they can obtain approvals. Synergy Direct Solution LLC can in no way guarantee conversions or sales.
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Want more info? Call us at 866-428-0172.
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