UCC Leads
LOOKING FOR UCC LEADS?
Many of Synergy’s clients have been buying UCC Leads. There are some good things and some bad things about UCC lists.
What are UCC leads? UCC stands for Universal Commercial Code.
How to Clean and Validate UCC Leads
The first step is to double-check the contact details. This means verifying phone numbers, emails, and business addresses to make sure they’re still valid. Next, review the UCC filing information, like loan amounts and whether the business has any unpaid debts or judgments. You’ll also want to confirm that the business is still active and hasn’t had significant changes, like a change of ownership or closure, that would affect their eligibility for funding. Finally, it’s a good idea to regularly update your list, removing outdated or irrelevant leads to keep it fresh and accurate.
Common UCC Lead Generation Myths
Here are some common myths about UCC lead generation that can mislead businesses:
UCC Leads Are Only for High-Risk Businesses
Many believe that UCC leads are only businesses that are at risk of defaulting, but in reality, these leads come from businesses that are actively seeking additional funding or refinancing, not just those in financial trouble.
All UCC Leads Are Outdated
While some UCC leads might be older, not all of them are. By using trusted lead providers and regularly updating your list, you can access fresh, relevant leads that are actively looking for funding.
UCC Leads Are Over-Saturated and Unresponsive
While it’s true that UCC leads can be contacted multiple times, this doesn’t mean they are unresponsive. Many businesses with UCC filings are still in need of capital and can be very receptive to new funding opportunities.
UCC Leads Are Easy to Convert
Some people think that since UCC leads are already familiar with the loan process, they are easy to convert. However, competition is fierce, and it requires a well-executed strategy to connect with and convince businesses to move forward with a loan.
LEARN MORE ABOUT OUR OTHER UCC LEADS!
Why do lenders file a UCC on a business that they lend money to? In other words, how does a business end up on UCC leads? This is a great question. The answer is fairly simple to understand. If a lender lends you money they did so based on an evaluation of your risk. The underwriters looked over your credit profile and your bank account to determine how risky you would be.
If you take the lenders money and then take another loan what does that do to the risk level? It could make you over-leveraged. This could force you out of business. So if the first lender files a UCC then the next lender can see it. Then the second lender can evaluate your risk knowing that you already have a loan.
UCC LEADS – THE GOOD
UCCs can be good because these leads already understand how it works. They’ve already gone through the submission process. They understand the documents that will be needed to secure the funds. They won’t be surprised if they hear they need extra documents.
With these leads you can lower the sticker shock. Sticker shock is when you pitch the details of an MCA and the borrower freaks out about daily payments and short term advances.
UCC LISTS – THE BAD
The problem with UCC lists are that everyone has been calling these leads for years. UCC lists are the most beat up leads in the industry. These borrowers are so tired of getting calls that they change their phone numbers and block spam calls to prevent talking to another broker.
Another issue is that with UCC lists you often get borrowers who just got an advance. So now your working to get a small second position loan and will not make a high commission. Here at Synergy we have developed several ways to generate MCA leads.
FAQ'S
Can I buy UCC leads based on specific loan amounts or types?
Yes, you can filter UCC leads based on various criteria, including loan amount, loan type, industry, and more. This allows you to focus on businesses that are most likely to require your funding services.
Can I buy UCC leads based on specific loan amounts or types?
The key is to work with trusted lead providers like us who offer verified and fresh leads. Additionally, using a multichannel outreach strategy and consistently following up will help improve the quality and conversion of your UCC leads.
How can I handle UCC leads that are no longer interested in funding?
Leads that are no longer interested should be removed from your follow-up list. However, you can return or replace leads based on the return policy of your lead provider. Always ensure your leads are fresh and verified to avoid wasting time on uninterested businesses.
Disclaimer: UCC 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.