Merchant Cash Advance lead companies are selling merchant cash advance leads with bank statements. You may have seen these companies on Fiverr.com or LinkedIn. These companies are almost exclusively located overseas. We won’t mention their names here because that’s not our style. However, when we decided to get into this industry in 2011 we promised to help our MCA leads clients.
How does Synergy help their clients? Firstly we care about explaining what we offer and how it should work with each client. We don’t just sell you on something like cash advance leads with bank statements. Of course Cash Advance Leads with bank statements sounds great!
The reality is that almost all of these Merchant Cash Leads are almost always going to be a waste of time. Ask yourself a simple question. Ask yourself why someone or a company would sell a complete submission? A submission being 3 or 4 months bank statements and an application. Why would you do that?
The reason is pretty simple. The reason is there is no value to that lead. A lead is valuable if you can make money. A lead is more valuable if you can make a lot of money. In this business you make money based on a percentage of the loan amount. If a company is selling cash advance leads with bank statements they don’t see any reason to work it themselves. These are probably all bank turndown leads. They are also selling this appointment to whomever they want. They’re selling it as many times as they want.
Synergy has asked their clients if they have any experience buying cash advance leads with bank statements. They’ve told us the experience has been horrible. We’ve heard cases where 80% of the leads have been defaults. These borrowers were already defaulting on another advance. Now it makes sense why these companies would sell business loan leads with bank statements. They’re trying to make something on a dead lead. Do you want to help someone else make their money back on dead leads?
In reality, you should run from companies that offer leads with applications or bank statements. What we’ve learned is that these leads are not valuable because 99% of them won’t get approved. Moreover, these leads are sold to every client these lead venders have. Unfortunately, many people will fall for the pitch and have to learn the hard way.
Articles – Merchant Cash Advance Leads With Bank Statements