Aged Lead Word Track Flashcards
Selling app, docs and analytics
Intro Part 1:
1. Name and intro
2. They say No…
3. Response question?
Hey, John [Merchant]?
Can you hear me?
It’s Marc from CapFront, Nerdwallet or Businessloans.com asked me to reach out to you because it looks like you had applied for funding in the past BUT we specialize in 36-month Lines of Credit and 7-Year Term Loans, did you ever end up getting something like that?
[If They Respond No] Oh wow, what happened, did you get anything at all or stopped looking?
Intro Part 2:
4. Client describes loan issues and response regardless of what they say
5. Confirm amount question?
6. Confirm needed question?
- [Based On Any Response] Gotcha. Well, look, 87% of our clients get approved so, I would never guarantee you a financial product but if I could still get you a Line of Credit or longer-term Term Loan, is that something you could still use or have as a reserve for the company?
- Great, and just to confirm, is 50K [Amount] exactly what you were looking for or what did you have in mind?
- Sounds good, and is [Use of Funds] all you needed the money for [XYZ need, EG payroll] or did you plan on using it for anything else?
Go Into Competitive Edge
Perfect. I’m glad we’re able to speak because, just so you know, we’re a Preferred Partner in the industry and that’s really because we syndicate 10% into every single deal for our clients.
This allows lenders to take on less risk and they feel more comfortable knowing we’re backing you as a client so what this means for you is by going with us you’ll receive much better approval odds than through any other avenue.
Assume The Close
So, here’s what I can actually do for you - we have a bank analytics system that runs parallel to 95% of lenders in the industry. All I need from you are the last 4 months of business bank statements and one-page DocuSign application, which I’m sending you right now in a separate email.
Once I have those documents, I’ll confirm upon receipt and run it through my bank analytics system. Once the analytics come back, we can give you a very good idea as to what products we can get for you now as well as in the future, with us doing some strategic planning for you - sound good?
Docs and Reminder
Sent docs and doc time turn around
If they don’t answer follow up…
Reminder
Great, I just sent the one-page DocuSign application over to you and I’m sending you a separate email now to give you another option on where you can attach the last 4 months of bank statements. Just a heads up, it does get very hectic on our end so I usually set a reminder in my system to make sure I can work on your file so, realistically speaking, when do you think you’d be able to get the documents over to me?
I’m on your timeframe so you can just let me know. [Wait For Time]
Perfect, so what I’m going to do is add you on the reminder so we both know we should have gotten to work on your file and don’t lose track of time, is that fine?
What do you do post call?
Set up Schedule Send for the time they gave you of when they would send you docs.
- Reminder of docs (general)
- Reminder of docs (analytics)
- My system told me to reach out, my system told me to call you, my system told me to text or email….
- My system told me to check in in with (text/email/call) you so you can get the bank analytics….Would you like them? Send docs (and do app)
What are you selling?
1. First part of the call
2. After the call selling what?
3. Follow up
4. Throughout process selling?
5. Selling - Competitive Edge?
- Only selling how to get them on the phone for another 7 seconds (they have no idea if you are selling websites or what…need to get in
- application and docs
- selling my system told me to reach out
- Selling bank analytics
- We’re a Preferred Partner in the industry and that’s really because we syndicate 10% into every single deal for our clients. This allows lenders to take on less risk and they feel more comfortable knowing we’re backing you as a client so what this means for you is by going with us you’ll receive much better approval odds than through any other avenue.
- Bank Analytics #2 - short version
- Bank Analytics #2 - docs
- We have a bank analytics system that runs parallel to 95% of lenders in the industry which will give me a very good idea of what you can get. When do you want to go over your bank analytics?
-Yes- - All I need from you are the last 4 months of business bank statements and one-page DocuSign application, which I’m sending you right now in a separate email. Once I have those documents, I’ll confirm upon receipt and run it through my bank analytics system.
Rate is high, to expensive
- Rev low, credit low or both
- No or limited lending history
- Lenders can only go over of docs and have established lines in the sand. However by establishing financing history it can save you more in the future.
Why better than other brokers?
- Don’t bait and switch, know what lenders need, have bank analytics and syndicate 10% into every loan
- We show we what you can get and push for the best deal.
- We put out money into the loan.
Reason for call intro:
1. Time
- I have to jump on another call in a 2-3 minutes but wanted to catch in with you XYZ…. be specific and ask a question,
Good lead? (blood in the water)
- debt they already have some
- urgency (need to pay, payroll next week)
WHAT’S THE RATE?:
1. Credit and rates gen questions?
- Follow up question?
How’s your credit? What rates are you accustomed to? Our rates range anywhere from 1% to 4% per month simple interest to 4.99% - 24.99% APR, and our terms range anywhere from 3 months to 5 years, but it’ll be very hard to tell where you’d fall without knowing more about your business, which is why we make it so easy and simple to apply with us so we can run our business analytics.
What’s your email? [let him answer] Do you have any business loan balances that you’re still paying off?
First Blood
-> If a lender is “first blood”, this means that multiple brokers can get the same offer.
-> Most of the time, other brokers are only locked out of the deal once contracts are signed by the merchant.
