On the topic of leads, let's start off this Monday with a topic that I have been going over. I had plans on what to do with this topic and information that has been gathered from many ISO Companies and it has been expanded when setting up CRMs. Any CRM.

The word "Lead" and "Prospect" are swapped in MCA Vetting and the CRM is usually outlined differently than what your lead sales process. A "prospect" is likely to want your product whereas a "lead" is the same thing - prospective consumer of a product or service.

All because a Business has a UCC does not mean they are a prospect. UCCs are cold leads. Aged or recent, over 40% of the UCC leads from 2015 (on my personal listing used by Brokers) have phone numbers that have been disconnected or out of business. These are UCCs that have advances from advance companies. If you do call UCCs - if say 7 out of every 100 "hot leads" Fund... how many numbers and man power have to be called for each of your guys to get 100 hot leads and fund at least 10? Say half of those 10 have commissions = $6k average ($40k deal) Usually it's brokered by one LLC and commissions paid to a rep or ISO. After splits etc. Are UCCs even worth it - bare boned?

When buying a lead or calling a lead- whether it has a UCC or has been approached, in a loan/advance before, it is "Cold". Brick cold calling, originating all over again cold. The only type of lead that isn't "cold" is an inbound email request or warm live transfer. AND for us- it's for information and understanding if the number the merchant WANTS adds up how confident you SOUND in telling them YES and that you CAN fulfill their request aka they are a prospect for capital.

The way we ask for leads and record the process of the leads makes a big difference in what information you need in a lead for it to BE A PROSPECT, how much you are paying for such "leads", and how you handle them to make them work.