[Incbiz440]

For those of you who do cold calls (or lukewarm calls), what are some rebuttals you use to keep prospects talking? Or general conversation. Doesn't necessarily have to be MCAs.

[JonathanHendrix]

For those of you who do cold calls (or lukewarm calls), what are some rebuttals you use to keep prospects talking? Or general conversation. Doesn't necessarily have to be MCAs.

I usually look for whatever the guy is interested in discussing. A lot of times I'll talk religion/G-d with people.

[Olderguy]

I used this a number of years ago but part of it still applies...it could stand to be updated. Not sure it answers your question.

I HAVE WRITTEN SCRIPTS FOR WHEN I HAD 22 TELEMARKETERS IN THE LOAN BUSINESS....HERE'S WHAT I USE.

Note I omitted years in business as it doesn't really matter if it's 6 months or longer...few will be less and the interview can qualify that. I made notes about the interest rate comment. Note I did NOT include anything about collateral or personal guarantee. That's not important at this point.



Hi/Hello This is ____ May I speak with the owner?

Hello, my name is _____ from_______I'm calling to see if you need any money for your business?

We provide immediate cash funding based on bank deposits.

- can you use $25,000 or more or less than $25,000?

If Owner says any amount then ask the following questions.

How much money do you need?
What is the use of funds?...Working capital, equipment or what else?
What are your Average Monthly Deposits?

What is the best email address to reach you so our funding manager will send your approval application.

The number I am dialing (000-000-0000) is this your cell phone number or business number?

Please stay on the line while I connect you with our loan officer/underwriter.

If owner says I am not interested:

Actually we are having a promotional offer and providing the fund with flexible paybacks & term. So how much you might need?

If owner asks about interest rate:

Interest rates are determined through underwriting.
If you qualify we can provide 3 year - 10 year term loans with rates as low as 8.5% for loans of $100,000 and up.

Our terms and payback
Payback are quick cash loans are weekly and daily
Terms starting from 3 month to maximum 24 months.
On average, ee can provide 150% capital of your monthly deposit if they make $10,000 then we can provide them up to $15,000.

Our Requirements are:

At least 6 months in business.
Monthly Deposit should be at least $10,000
Owner has to have a business checking account.

ALSO:

I don't bother with BS let's be friends stuff...

Now much do you want?
What offers have you received?
Why haven't you taken any of them?

Probe for options:
Cash out property
Cash out equipment
Personal loans
Asset based financing
etc.

[Zonefund]

I used this a number of years ago but part of it still applies...it could stand to be updated. Not sure it answers your question.

I HAVE WRITTEN SCRIPTS FOR WHEN I HAD 22 TELEMARKETERS IN THE LOAN BUSINESS....HERE'S WHAT I USE.

Note I omitted years in business as it doesn't really matter if it's 6 months or longer...few will be less and the interview can qualify that. I made notes about the interest rate comment. Note I did NOT include anything about collateral or personal guarantee. That's not important at this point.



Hi/Hello This is ____ May I speak with the owner?

Hello, my name is _____ from_______I'm calling to see if you need any money for your business?

We provide immediate cash funding based on bank deposits.

- can you use $25,000 or more or less than $25,000?

If Owner says any amount then ask the following questions.

How much money do you need?
What is the use of funds?...Working capital, equipment or what else?
What are your Average Monthly Deposits?

What is the best email address to reach you so our funding manager will send your approval application.

The number I am dialing (000-000-0000) is this your cell phone number or business number?

Please stay on the line while I connect you with our loan officer/underwriter.

If owner says I am not interested:

Actually we are having a promotional offer and providing the fund with flexible paybacks & term. So how much you might need?

If owner asks about interest rate:

Interest rates are determined through underwriting.
If you qualify we can provide 3 year - 10 year term loans with rates as low as 8.5% for loans of $100,000 and up.

Our terms and payback
Payback are quick cash loans are weekly and daily
Terms starting from 3 month to maximum 24 months.
On average, ee can provide 150% capital of your monthly deposit if they make $10,000 then we can provide them up to $15,000.

Our Requirements are:

At least 6 months in business.
Monthly Deposit should be at least $10,000
Owner has to have a business checking account.

ALSO:

I don't bother with BS let's be friends stuff...

Now much do you want?
What offers have you received?
Why haven't you taken any of them?

Probe for options:
Cash out property
Cash out equipment
Personal loans
Asset based financing
etc.

Most people would hang up on you immediately with this script. This is terrible.

[Zonefund]

For those of you who do cold calls (or lukewarm calls), what are some rebuttals you use to keep prospects talking? Or general conversation. Doesn't necessarily have to be MCAs.

For now, talk about the Trump shooting. Find things to relate to small talk. Anything. Make them like you. Sound different then the 500 other people calling them. Put yourself in their shoes. Imagine what would grab their attention. And grab it.

[Yankeeman07]

For those of you who do cold calls (or lukewarm calls), what are some rebuttals you use to keep prospects talking? Or general conversation. Doesn't necessarily have to be MCAs.

The last topic I would discuss is politics -especially over the phone. You have about 15 seconds to capture their attention and schedule an appointment , where in person or via phone. Verify information, best phone and email contact and then on to the next appointment.

**If they are still on the phone you should have another 60 seconds to have them familiar with you.

I send a email confirmation with the date and time of the appointment with a request to confirm.

[Incbiz440]

Thanks for the responses. Zonefund I was thinking abortion or religion instead of politics (lol).

My question was towards the beginning of the conversation - call, get your prospect, do your intro, say something industry, location, whatever specific, and your first response is a no, negative, whatever. IMO if you know your product(s), generals of the target client, and current environment you should be able to address more detailed questions if a prospect has expressed interest so personally that's not where I get stuck.

I'll use something generic as an example that applies to most businesses - overall, lending/funding has tightened over the last year.

Like "blah blah blah, we specialize in funding the transportation industry. Banks and other lenders have pulled back recently but our network of funders are still going strong supporting trucking and transportation. What projects are on the horizon where additional capital would help your business move to the next level?"

I've noticed closed ended ends up with a no, and open ended ends up with a stilted and circular no. That's expected, but what additional probing questions have you all used to keep the conversation flowing? At least long enough to get to a 2-3 nos.

I'm sure my rebuttal could be "If Jesus had a logistics company, what would he do?" but I'm thinking there's something more in line with the conversation.

I'm just using transportation as an example, but could be anything.

[Dwaynewebster]

some time keep it simple i just tell them tell me about your business and keep quite they spill the beans

[diditevenfund]

Most people would hang up on you immediately with this script. This is terrible.

Second this.

[PopCrumbs]

Second this.

3rd this, bet his avg call with this script is 3 seconds long.

[PopCrumbs]

The most important thing you can do on a cold call has nothing to do with what you say but how you say it

Calling and telling someone who you are and where your from is a sales call, instant click.

Calling and asking if they need money... Click.

Calling and being loud, sales call....Click

You need to flip the script, I'm sure a bunch of you have been pitched by us, Ill never ask if you want to buy leads, that's an instant no or hang up. Same thing you're doing when you ask if the business needs capital.

I made this IG reel, low quality, one take I could do better but you should get the gist of what im saying if you watch it.

https://www.instagram.com/reel/C74gT...RlODBiNWFlZA==

[FCG]

I used this a number of years ago but part of it still applies...it could stand to be updated. Not sure it answers your question.

I HAVE WRITTEN SCRIPTS FOR WHEN I HAD 22 TELEMARKETERS IN THE LOAN BUSINESS....HERE'S WHAT I USE.

Note I omitted years in business as it doesn't really matter if it's 6 months or longer...few will be less and the interview can qualify that. I made notes about the interest rate comment. Note I did NOT include anything about collateral or personal guarantee. That's not important at this point.



Hi/Hello This is ____ May I speak with the owner?

Hello, my name is _____ from_______I'm calling to see if you need any money for your business?

We provide immediate cash funding based on bank deposits.

- can you use $25,000 or more or less than $25,000?

If Owner says any amount then ask the following questions.

How much money do you need?
What is the use of funds?...Working capital, equipment or what else?
What are your Average Monthly Deposits?

What is the best email address to reach you so our funding manager will send your approval application.

The number I am dialing (000-000-0000) is this your cell phone number or business number?

Please stay on the line while I connect you with our loan officer/underwriter.

If owner says I am not interested:

Actually we are having a promotional offer and providing the fund with flexible paybacks & term. So how much you might need?

If owner asks about interest rate:

Interest rates are determined through underwriting.
If you qualify we can provide 3 year - 10 year term loans with rates as low as 8.5% for loans of $100,000 and up.

Our terms and payback
Payback are quick cash loans are weekly and daily
Terms starting from 3 month to maximum 24 months.
On average, ee can provide 150% capital of your monthly deposit if they make $10,000 then we can provide them up to $15,000.

Our Requirements are:

At least 6 months in business.
Monthly Deposit should be at least $10,000
Owner has to have a business checking account.

ALSO:

I don't bother with BS let's be friends stuff...

Now much do you want?
What offers have you received?
Why haven't you taken any of them?

Probe for options:
Cash out property
Cash out equipment
Personal loans
Asset based financing
etc.

This is too good. Thanks

[ridextreme]

Anyone starting a call with "Hi, my name is" should just hang up and save their breath because everything else that's said after "My name is" goes in one ear and out the other, he's not even listening at that point. These guys get tons of calls every day, and as soon as you say "My name is", his brain is already turned off. Same thing with "we provide" or "we specialize in", "My company" this or "My company" that, etc.

[Olderguy]

A professional loan officer, on a cold call, should always indentify who they are and why they are calling.

[abfunders]

A professional loan officer, on a cold call, should always indentify who they are and why they are calling.

They will identify themselves, and the loan office wants to, but you're living 40 years after that opening, when people used to have more than a 5 second attention span and caller ID, Old man. Don't give advice on something you're not actively doing and focus on the co-brokering. I haven't personally made a cold call in years, but I get business through in-bound calls, I cobroker and I do business development. What I have done but I haven't focused on is proper content creation (videos specifically), especially "being" the content which is honestly a new method I've seen a lot that humanizes the process and creates a relationship before they lift the phone to call you.

However, this thread is about making cold calls in TODAY'S environment, and I didn't really mean to veer off that path. Back to your regularly scheduled program.

[TheConfidentBroker]

*No one is a loan officer. You don't offer loans. Don't say loan on your call bc the expectation will be a monthly low rate loan - which will lead to a lost sale.

Firstly, understand your title and your job as an opener. Know that the calls you are making are cold even if the leads are "hot" because no one is expecting you - even if a prospect applied or requested information. If a time wasn't scheduled to call them - it is cold. You keep the script the same with every call.

Hi NAME. Don't ask "Is this NAME"? as it sends off an instant red flag of you not knowing. You get a YES or a NO. If you get a No - look at the business name. Apologize for getting the name wrong - I'm looking for the BUSINESS NAME as I have here in my email to give them a call - are you associated with BIZ NAME? No - then maybe there was a mix up - Im NAME and I work with business owners that inquire about their financing options. Do you have a business that has been turned down for traditional financing?

If they say YES - this NAME - Get f*cking happy - Hi this is YOUR NAME - I have your information in an email from when you inquired about financing options for your business. Not sure if youre still in the market or been turned down. Id like to have the opportunity to quickly qualify you and see what my company COMPANY NAME can do for you. We offer X - and you can find us online HERE. Do you have the time to go over it'll take less than 5 minutes and I can send you over an email for you to review my companies stellar reputation with helping small businesses like yours.

Now - most of this can only be used by those who are real ISO Brokers with the intent of doing it right and providing a boost of confidence on a call that leads to conversion. Many of your leads will have what they call BUYER BURNOUT. The best thing you can do is lead into FEEL questions to get them to talk to merge into qualifying.

I don't offer this but if you want more PM me. If you want amazing training for opening, closing, and industry Q&A - I have available along with great marketing services. Training - opening rebuttal.png

[Kevin Henry-Seacoast]

*No one is a loan officer. You don't offer loans. Don't say loan on your call bc the expectation will be a monthly low rate loan - which will lead to a lost sale.

Firstly, understand your title and your job as an opener. Know that the calls you are making are cold even if the leads are "hot" because no one is expecting you - even if a prospect applied or requested information. If a time wasn't scheduled to call them - it is cold. You keep the script the same with every call.

Hi NAME. Don't ask "Is this NAME"? as it sends off an instant red flag of you not knowing. You get a YES or a NO. If you get a No - look at the business name. Apologize for getting the name wrong - I'm looking for the BUSINESS NAME as I have here in my email to give them a call - are you associated with BIZ NAME? No - then maybe there was a mix up - Im NAME and I work with business owners that inquire about their financing options. Do you have a business that has been turned down for traditional financing?

If they say YES - this NAME - Get f*cking happy - Hi this is YOUR NAME - I have your information in an email from when you inquired about financing options for your business. Not sure if youre still in the market or been turned down. Id like to have the opportunity to quickly qualify you and see what my company COMPANY NAME can do for you. We offer X - and you can find us online HERE. Do you have the time to go over it'll take less than 5 minutes and I can send you over an email for you to review my companies stellar reputation with helping small businesses like yours.

Now - most of this can only be used by those who are real ISO Brokers with the intent of doing it right and providing a boost of confidence on a call that leads to conversion. Many of your leads will have what they call BUYER BURNOUT. The best thing you can do is lead into FEEL questions to get them to talk to merge into qualifying.

I don't offer this but if you want more PM me. If you want amazing training for opening, closing, and industry Q&A - I have available along with great marketing services. Training - opening rebuttal.png

Anyone who referred to themselves as a "loan officer" retired 20 years ago an lives in South Florida.

[TopTier]

"Take them to Jamaica"

No Problem, alot of our customers actually didn't want money when we first contacted them either, What they usually find is that it may be worth it to submit your statements anyway, get an approval in black and white, and then maybe your mind starts working once you have that dollar amount approval. I could do this, that or maybe this - Now something you thought you didn't want, all of the sudden becomes a real option.... Does that make sense to you?

Something like that is a direct rebuttal to I DONT WANT MONEY - If your slick enough you can get apps in, granted they may not go anywhere

[ridextreme]

A professional loan officer, on a cold call, should always indentify who they are and why they are calling.

We're not loan officers, this isn't a regulated industry such as mortgages or insurance (and if a mtg loan officer is calling them, they're most likely responding to their request for refi info, so that's not a cold call).

There's a way to speak with people to grab their attention right from the first one to two seconds of a phone call but I won't go into detail I'd rather have my guys sweep up all the deals that you're guys are leaving on the table ; )

[diditevenfund]

If your slick enough you can get apps in, granted they may not go anywhere

Im sure you conversions are amazing and your partners love you.

[Sachip24]

always ask open ended questions only never yes or no. Point of the cold call is get them to engage back with you.

Do you need money for your business "no" slam.

So mr merchant i understand everything is going great for business you're generating 250k a month in revenue that's amazing, what would it take to get you to 500k a month? always open ended questions.

only ask yes or no questions if you know the answer is yes.

Moving forward with this term sheet will give you financing you need to purchase your inventory, double your revenue, and still save you "x" every month.. this is a great opportunity right .."Yes"

[Franklin]

A real, working, sales call script, with proper training, has built companies and sales departments. No one is likely to share it here.

Basically though, to keep a merchant talking, they should be intrigued with what you're offering, and you should be answering rebuttals in advance, before they come up. It should be part of your middle/close.






www.UCCRadar.com - Speak to Merchants right after they receive an MCA Approval. You vs. the Broker

[Zonefund]

Dwayne that was a good tip. I applied it on a call, and good God did he love talking about his biz and plans. I got about 8-15 hits off my joint while he was talking.

[Franklin]

some time keep it simple i just tell them tell me about your business and keep quite they spill the beans

Dwayne, long time

[Incbiz440]

I'm somewhere in the middle on my opinions/approach between the rest of you. Did telemarketing back in the day and assume anyone that isn't clearly not the person I'm asking for (55 year old guy, person on the phone sounds like a 19 year old girl, or somewhere that definitely has a gatekeeper) that it's the person I'm looking for on the phone. The best is "Who's calling?" Me, calling you.

Loan officer - I agree that sounds suspect. I don't think many in the business lending space use that terminology anymore - even when I worked at the bank I'd use business banker or something that people could clearly grasp onto conceptually. I know some places still use "loan officer" but I think most have transitioned over to stupidly ambiguous titles like "Vice President, Regional Commercial Relationship Client Success Representative Manager, Utah Mormon Region." In banking anyway.

Bulldozing people by not acknowledging who you are/where you're from/why you're calling - did that telemarketing when it was a pure battle. For those of you who do this, do you have success? Not really my vibe. Seems like a recipe to not get any follow through from the client when it comes down to applying. Only way I could see this working in this space is if your pitch so outstanding that bulldozing straight to the irresistible point may work, like if you were PSFing some 2% government loan program.

Open ended questions all the way, agreed.

My spot is in that short space in between first few lines, their first response, and rebuttal/"keep the conversation going" response.

Probing questions beyond that, not so big of a deal. For me, anyway.