[WestCoastFunding]

Archie
Your feedback is gold and thanks again.Yes we are accountants by design. Our internal clients are our first targets then we move to cold calling other businesses who may need financing as well. Sometimes we will find a prospect that doesnt need accounting but needs financing and vice versa. I questioned this business model initially but you have confirmed Im on the right track. Ive just got to put in the numbers and build a pipeline. I currently have a pipeline (solid leads) with loans totaling $1.2mm. They are comprised of (3) real estate (3) working capital and (1) MCA type loan. Im thinking of bringing on an appointment setter to do the front end contact and I will work on getting the prospect closed. I also work Phoenix exclusively which I know limits my prospects but its where I think its best to start.

Personally, I like focusing on the conventional stuff like bank financing, SBAs, real estate loans, A/R lines, equipment leasing, etc.. Approval rates for those products range from 20-60%. The company's that seek-out more conventional stuff, but don't get approved end up making prime MCA candidates. So much better to fund a company doing $2.6M a year a $200K 1st position MCA, than dealing with company's doing $12,000 monthly already stacked with 3 positions.