Sales Calls Info

Question 1

SAMPLE PITCH
1. Intro?
2. Initial Pitch Question?
3. Qualify Questions?

Answer 1

1. Hey John (client name), this is _____ from CapFront - how are you today?
2. Great! My marketing team wanted me to give you a call today because they think you’d be a good fit for a revolving line of
   credit. If we were able to secure $100K over 48 months at 15% APR, you’d be able to utilize it for your business, correct?
3. Okay, excellent! Let me firm up some information on my end:
   A. How much can you utilize today?
   B. What do you need it for?
   C. How soon do you need it?

Question 2

Inbound Lead Pitch - Application
1. Intro?
2. Reason for call?
3. Qualify Question?

Answer 2

1. Hey John (client name), this is _____ from CapFront.
2. You applied online with us for business funding at 230pm (time)
   on May 1st and I’m calling you now to go over your request.
3. It says on the form you submitted to us that you’ve been in business for 2 years (# years) and that your business generates 30K (amount $$) in monthly deposits into a business. Checking account…is that accurate?

Question 3

Application and docs needed?

Answer 3

1. Merchant will be required to complete and sign a 1-page application via DocuSign.
2. At the top of the application they must attach their last 4 months of business bank statements to the “paperclip” for underwriting review.

Question 4

Docs in - Review their info. What is needed?

Answer 4

1. Conduct a Secretary
   of State Business Search on the state website that the business is incorporated in.
2. confirm the date of incorporation matches the date listed on the application. Also confirm they are active with the state.

Question 5

BANK SCRUBBING

Answer 5

1. Confirm that the business name is the same on both the business bank statements and application.
2. Review gross deposits, deposit count and monthly ending balances.
3. Go through Deposits & Credits to see if there are any large transfers or fundings. (Tip: Look for incoming
   deposits, this is where you will find previous fundings received.)
4. Review withdrawals to see if there are any lenders deducting any daily or weekly payments. (Tip: Merchants
   tend not to disclose that they just received funding because they fear that will ruin their chances to be funded
   again, so be sure to double check this yourself.)
5. Check the daily balances to see if there are any negative days.
   Will review Ocrolus and Plaid use-case in next session

Question 6

Selling Point to tell clients

Answer 6

1. full transparency - focus on market education, help with bookkeeping/accounting, strategizing long-term
2. we all have experience/background in finance/small business…we are not trained salesman!!
3. we invest in a lot of our partners deals (syndication) so we get exceptions and make our money on the interest which lowers incentive to charge high commissions and means we have clients best interest at heart…if they default/don’t perform…we don’t perform
4. no 3rd party fees on majority of products because most fees are totally arbitrary
5. no double-dipping/double interest on many 1st position products
6. only soft credit pulls (does not affect score) except in rare situations….we’ll always ask
7. graduation/dual track funding to complementary, commercial and/or lower interest products so we can bridge-to-permanent financing program
8. 5-star Trustpilot rating and top 10 in most relevant categories

Question 7

PITCH TIPS

Answer 7

1. Always lead with a question
2. respectfully aggressive
3. don’t ever ask permission / assume the close: Can I have your email and please send app? Vs What is your email and when will you send options?

Question 8

Three SALES TIPS

Answer 8

1. Build Rapport - Your customers will find you more credible if you take the time to understand their business first.
2. Determine ROI - No one borrows money to simply borrow money. The next step is to understand their needs and ROI, then effectively communicate the value of our products.
3. Determine Timeline - This will dictate the ability to close the deal. If trust and ROI are both aligned, every day that goes by without the funds is a loss of opportunity for the customer.

Question 9

I GOT FUNDED ALREADY:

Answer 9

Congratulations, but I can get you more money at a similar or possibly even better rate and term, so did you end up getting all the money you originally wanted, or did
they fall short of your goal?

Question 10

I’M WORKING WITH ANOTHER BROKER:

Answer 10

Look, you and I both know that all you really care about is getting the best deal, so just forward me exactly what you sent the other lender and I’ll do whatever it takes to get the job done. Did they send you physical contracts yet, or is it just a verbal offer?

Question 11

I’M NOT INTERESTED/ALL SET/I’M GOOD/WE’RE OKAY:

Answer 11

I respect that (respectfully), but when a potential client tells me he/she [isn’t interested], they usually mean something a lot more specific, like already receiving funding, not needing any more money, getting too many calls from brokers, not having enough time, the money being too expensive, etc….so what exactly do you mean by “[I’m not interested]”?

Question 12

I DON’T NEED $:

Answer 12

I completely understand that, but most businesses do eventually need money for one reason or another, so we share a platform with over 75 lenders to generate proposals without any hard inquiries on your credit that won’t expire for a month, and as soon as you are ready to pull the trigger, you’ll already know exactly what’s available to you…what’s your email?

Question 13

I GET TOO MANY CALLS:

Answer 13

With all due respect, I only get paid if you take a deal, so I wouldn’t be calling you if I thought I was wasting your time…Just tell me your situation and I’ll figure out right now whether or not working with us would make sense for you: Do you still have any business loan balances that you’re paying off?

Question 14

I’M TOO BUSY:

Answer 14

All my clients are busy, which is why we made an application that literally takes two minutes to complete…If I could get you money for your business and the payment makes sense, you could obviously use it, right? What did your company do in gross revenue last year?

Question 15

I’M ALREADY WORKING WITH BANK:

Answer 15

I would never tell you to avoid working with the bank entirely, but a lot of my clients have been getting denied, the paperwork is endless and the process can take months. Let’s get a backup plan together now so when something comes up and the bank can’t get it done, you’ll already have our funds ready to go. What’s your personal credit score?

Question 16

$ IS TOO EXPENSIVE:

Answer 16

There are hundreds of lenders to choose from and each of them has a unique underwriting system with specific preferences, so the other broker you were working with was probably either not connected with the right lender or too inexperienced to figure out which lender would give you the best deal…When was the last time a business lender presented you with a real offer?

Question 17

WHAT’S THE RATE?:

Answer 17

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…What’s your email? [let him answer] Do you have any business loan balances that you’re still paying off?