Merchant Cash Advance Scripts?

samthemoneyman · #1 (**permalink**) 08-03-2008, 08:02 PM

does anyone have any good resourceful merchant cash advance scripts that you don't mind posting and sharing? or you can PM me with it. i will really appreciate this.

LauraFranklin · #2 (**permalink**) 08-05-2008, 12:34 PM

Have you looked around on the greensheet forum? There was a conversation on this a while back there and some posted some good scripts that they have found to work.

samthemoneyman · #3 (**permalink**) 08-20-2008, 03:52 PM

i looked around and didnt find any. regardless it will more relevant here than the green sheet. anyone care to contribute?

1st Merchant Funding · #4 (**permalink**) 08-21-2008, 05:52 PM

Quote:

Originally Posted by samthemoneyman

does anyone have any good resourceful merchant cash advance scripts that you don't mind posting and sharing? or you can PM me with it. i will really appreciate this.

Sam, check your PM. I sent you some nice scripts.

Advance2you · #5 (**permalink**) 08-21-2008, 10:00 PM

Telesales Guide for Cash Advances to Merchants.

This document is only a guide. It is intended to give you suggestions on how to interact with potential clients. It is a basis of information to use to create an interest in what you have to say to the potential client. Be thoughtful of the other person’s time; differentiate yourself from a sales call. Your call is to inform the merchant of your program and to create interest so that an account relationship manager calls the merchant back and get them the money they desire.
Be natural! Have a conversation. Interact. Don’t just speak, listen, and ask questions, allow the other people to speak! Everyone is different. People come from different backgrounds; have different levels of education and sophistication, some people think and/or speak quicker or slower then others. Job titles and responsibilities have variations. When you’re making your calls think through whom and where you’re calling. Be aware of the local time. For example you wouldn’t want to call a restaurant at meal time. Rarely have I had a successful conversation towards the end of the day when people are focused on resolving the tasks from earlier that day and are thinking about ending their day. My best calls are usually first thing when people are fresh and haven’t focused their attention elsewhere yet..
Remember this is a numbers game. There is a direct correlation to out going calls to incoming revenue. Don’t take bad calls personally. Stay focused and upbeat, use a good tone and inflection in your delivery it will increase your success.

Good Morning/Afternoon/Evening! My Name is __________________, I was wondering if you could help me? Allow the person to answer.

I’m calling from Mark Gorge and Associates. This is a courtesy call to let you know that because (Name of Business) accepts credit cards for payments your business is eligible for an amazing new funding program that provides capital for your business. Would you be interested in learning more about this new program?
Probably at this point the person will tell you in some way that they are not the owner or the correct person to speak to. This is a critical point in your conversation. If you don’t know the persons name you are speaking with ask them their name and then say:

I’m sorry (Name) I thought you were the proper person to speak with, excuse me. Whom Should I be speaking with?
Typically they will say so and so is the owner or something along those lines. On rare occasion they will not know. Now is the time for you to probe and ask a few questions Such as:
 When is the best time to speak with ________? Not may I speak with ______now.
 If _____is not in, ask; when do you expect them, or what day/time might you suggest I try back.
 If you’re offered Voice Mail, please leave a message, you should be proud and excited about our service. Don’t sell the service on the message sell a reason to return your call.
 Another technique that works very well is to hang up in the middle of the voice mail, just say “Hi ____ this is ___________my number is __________ I was calling to discuss “ and then hang up. They will be curious and call back 99% of the time.
At this point you will have the information you need to move your call forward. Thank the person you’re speaking with and ask to be connected to the proper person, leave a VM or hang up and call back when suggested.

Now your about to speak with the proper person. Be polite, concise and to the point. You have less the 30 seconds before the person attention span falters. Give them a reason to listen to you. Introduce yourself, ask questions, probe and then finally ask to set up a call with the account executive assigned to their area.

Good Morning/Afternoon/Evening Mr./Mrs./Ms ____________ my name is ____________because your business accepts Visa, your eligible to a new program that provides immediate funding for any business purpose. Could you use some money/Working Capital/Funds?

If the answers is No. Thank the merchant for their time and ask if you could send them some information in case the may need it in the future and take their information.

Any other affirmative answer such as maybe, yes, how does it work, what is the rate… should be addressed as follows:

I’m glad we had a chance to speak. Every day I speak with many business owners and I like helping people. Tell me a bit about your business.
Have a conversation, people like speaking about themselves. Ask how you got in the business, how long have you been in the business, why that business…

What will you use the money for?
1. Reduce or retire debt.
2. Purchase new, needed equipment or merchandise.
3. Expand or remodel your current business.
4. Buy a new additional location.
5. Buy out partners.
6. Take advantage of better, volume or special pricing & terms by paying cash.
7. Expand marketing and advertising programs.
8. Fund benefit programs - Insurance, retirement, fund bonus incentives.
9. Prepare for special seasons with inventory and staff.
10. Develop new products and services. Research and development.
Get the person spending the money in their mind, from there it will be easy. These questions will lead into how much money can I get? How does it work? What if I have Credit problems?...

Here are some frequently asked questions and answers
How does the program work?
After a simple application process, you will get an advance on your business's future sales. Repayments are flexible; payments are only made when you make a credit card sale. The repayment of this advance is a % of your daily credit card deposits. There are no personal guarantees or complicated documents.
How does my business qualify?
You must have been in business for 1 year, and have at least $2,500 a month in Visa, MasterCard, American Express or Discover sales. Many newly purchased businesses that have been in business for over a year will also qualify.
Does anyone look at my personal credit?
For most small businesses, the business owner's credit is important in evaluating the company for an advance. However, the underwriting / scoring model used takes into account all factors, not just a personal credit score. Don't worry about your score, we understand that you need capital. We hope that the Advance you request will help in your success. What is most important is that the business is making sales. In fact we do not require a personal guarantee. Your business is evaluated on its own merits.
How large of an advance can my business get?
The amount you can receive is based upon an average of your monthly Visa/MasterCard/American Express/ Discover sales. Unlike our competitors we also look at your American Express and Discover volume. Most Advances fund between $2,500 and $150,000 per location. If you need more, please ask.
How soon can I get the advance?
Once approved, you'll have funds in your bank account in as little as 7 business days. The approval process is very fast: you'll have your money usually no later than the next business day after we receive all the documents!
What is the rate I will be charged?
The money you get is not a loan; it is an advance against your estimated future monthly Visa/MasterCard/American Express/Discover sales. You're selling a portion of your future sales today. Therefore, there is no rate. You simply pay a fixed fee that is paid back over time. The average advance is paid back in six months, however if you take longer there is no penalty.

What can I use the money for?
That's up to you. Many of our clients use advances for such things as payroll, equipment purchases, expansion, advertising, additional inventory purchases, to meet payroll and tax obligations, repairs, and emergency expenses. The decision on how to use the money is yours.
Does my business have to switch credit card processors?
When we look at your processing statements we often suggest a change to make sure you have the best rate. When your costs of processing go down, your profits will go up. This always helps in approving an advance or increasing the amount. If you do need or decide to make a change in processor, we will handle that for you; often, it only takes a few minutes, and you can still use the processing terminals you already have. Our processors guarantee to meet or beat your current processor's rates!
How are my payments determined?
One of the best thing is there are no fixed payments! Simply, an agreed upon percentage of your future Visa and MasterCard/American Express/Discover sales are split off until your advance has been paid back.
So if your business is a little slow one month, the amount you pay will go down. Try asking a bank to offer you that flexibility!
How do I keep track of what I paid?
You will be sent a monthly statement detailing how much you have paid for the previous month and the outstanding balance on the advance. You will have access to on line reporting. You are always welcome to call.
How do I get started?
I need to take down some basic information from you and I’ll have the designated account executive from your area give you a call right back.

Fill out Cash Advance Lead Form. Make sure you thank the merchant for their time.

Cash Advance Lead

Company Name: ______________________________________
Merchants Name: ____________________________________ Address: ______________________________________________
City: ______________________ State:___________ Zip _____

Business Phone Number: ( ) - Ext
Cell Phone: ( ) _ Fax ( ) _

Best Time to Contact: _______ Am/Pm Time Zone: E C M P

Email Address: __________________________________________

How long has Business been in existence? ___________________

Type of Business? _______________________________________
Monthly Sales? Total $______________ Please list by card if known.
? $____________ $_________ $_________

Amount of Advance desired? $________________
Need: Immediate / Future

Date: / / 2008
Marketing Associate:________________________________________ _
Special Notes:

Please fax lead to (413) 771-2684
V1-121507

1st Merchant Funding · #6 (**permalink**) 08-22-2008, 01:24 PM

Advance2you - Welcome to the forums. Great contribution.

EJO · #7 (**permalink**) 08-22-2008, 01:37 PM

This is a script that is tried and tested from Stocks to Mortgages to MCA! Best of Luck!

Mr Jones, This is _______from EJO, How are you today? The reason for the call is that you had a conversation with one of my associates several weeks ago; He told you I would be contacting you only when I had something worth your while. I know you get a lot of these calls and I want to assure you this isn’t a sales call, What I am about to tell you is something you will probably be reading about in your local business section in the next 60 to 90 days. If you’ve ever lent an open ear to a conversation, let it be this one! Now grab a pen I want you to write this down….This is definitely the most interesting call you will receive today…Not only am I going to educate you, I am also going to show you how I can start saving you A LOT of money immediately.…..Now as a business owner you probably receive plenty of sales calls regarding Merchant Cash Advances. What you are unaware of is that due to recent paradigm shifts in the industry the opportunity to pull cash today based on future credit card receivables will not be available to ALL merchant types for much longer. Now since you are already in my database, I took it upon myself to give you a call and let you know how I can Grandfather you in and lock in the potential for future funds and at the same time GUARANTEE you that I can save you money starting today! Now according to my notes you are still located at __________? Correct? Now as the owner of ___________ I am sure that you unaware that you are paying exorbitant credit card processing fees! Even though your fees may be lower in one place they are hiked elsewhere. I can guarantee to you that not only will I start saving you money immediately on your fees but I will also lock you in for a future cash advance as a means for financing in the future.

This is the only remaining form of financing that is not credit based, does not reflect on your credit report, has no collateral and funds are wired into your account in as little as 5 business days. All I need from you is to complete a basic application and send it to me with your most current 6 months Merchant Summary Statements. Now the only thing is I need these docs within the next 24 hours in order to validate your file and hold all the bonuses I have for you. Let me confirm your fax number and email address so I can get the application to you immediately.

Not Interested
Mr.________, I can appreciate your concern, what you have to understand is that this is your only chance and only hope to get quick cash in your pocket! I do not care how you spend the money, you never have to write me a check, the way I get paid back is by deducting a small portion of your daily credit card sales direct from your terminal AND at the same time I GUARANTEE I will save you money on your credit card processing. Here’s what I need you to do…..turn on your fax machine and I will send you my application. All you need to do is send it back to 123-456-7890 along with your last 6 months Merchant Summary Statements. Now grab that pen and write down my fax number its 123-456-7890 my name once again is______________and my direct line is 555-555-1212.

Mr. Jones, I appreciate that you took the time to speak to me today, you have given me the ball and I promise you I won't drop it. I'll call you within the next 24-48 hours with all of your approval options! Have a great day!

Still Not Interested
Mr________, I understand, but you have to understand that what I am telling you is that I guarantee you I will save you money on your processing. Trust me, as a former business owner I am well aware that every penny counts, now Mr. Jones, what fax number would you like me to send the application to?

GRP Funding · #8 (**permalink**) 08-22-2008, 03:41 PM

Quote:

Originally Posted by EJO

This is a script that is tried and tested from Stocks to Mortgages to MCA! Best of Luck!

Mr Jones, This is _______from EJO, How are you today? The reason for the call is that you had a conversation with one of my associates several weeks ago; He told you I would be contacting you only when I had something worth your while. I know you get a lot of these calls and I want to assure you this isn’t a sales call, What I am about to tell you is something you will probably be reading about in your local business section in the next 60 to 90 days. If you’ve ever lent an open ear to a conversation, let it be this one! Now grab a pen I want you to write this down….This is definitely the most interesting call you will receive today…Not only am I going to educate you, I am also going to show you how I can start saving you A LOT of money immediately.…..Now as a business owner you probably receive plenty of sales calls regarding Merchant Cash Advances. What you are unaware of is that due to recent paradigm shifts in the industry the opportunity to pull cash today based on future credit card receivables will not be available to ALL merchant types for much longer. Now since you are already in my database, I took it upon myself to give you a call and let you know how I can Grandfather you in and lock in the potential for future funds and at the same time GUARANTEE you that I can save you money starting today! Now according to my notes you are still located at __________? Correct? Now as the owner of ___________ I am sure that you unaware that you are paying exorbitant credit card processing fees! Even though your fees may be lower in one place they are hiked elsewhere. I can guarantee to you that not only will I start saving you money immediately on your fees but I will also lock you in for a future cash advance as a means for financing in the future.

This is the only remaining form of financing that is not credit based, does not reflect on your credit report, has no collateral and funds are wired into your account in as little as 5 business days. All I need from you is to complete a basic application and send it to me with your most current 6 months Merchant Summary Statements. Now the only thing is I need these docs within the next 24 hours in order to validate your file and hold all the bonuses I have for you. Let me confirm your fax number and email address so I can get the application to you immediately.

Not Interested
Mr.________, I can appreciate your concern, what you have to understand is that this is your only chance and only hope to get quick cash in your pocket! I do not care how you spend the money, you never have to write me a check, the way I get paid back is by deducting a small portion of your daily credit card sales direct from your terminal AND at the same time I GUARANTEE I will save you money on your credit card processing. Here’s what I need you to do…..turn on your fax machine and I will send you my application. All you need to do is send it back to 123-456-7890 along with your last 6 months Merchant Summary Statements. Now grab that pen and write down my fax number its 123-456-7890 my name once again is______________and my direct line is 555-555-1212.

Mr. Jones, I appreciate that you took the time to speak to me today, you have given me the ball and I promise you I won't drop it. I'll call you within the next 24-48 hours with all of your approval options! Have a great day!

Still Not Interested
Mr________, I understand, but you have to understand that what I am telling you is that I guarantee you I will save you money on your processing. Trust me, as a former business owner I am well aware that every penny counts, now Mr. Jones, what fax number would you like me to send the application to?

This one reminds me of Boiler Room when the guy is selling farrowtech IPO to Harry - great ideas in both scripts so far though - good contributions to this forum

Thanks!

admin · #9 (**permalink**) 08-22-2008, 03:46 PM

Quote:

Originally Posted by GRP Funding

This one reminds me of Boiler Room when the guy is selling farrowtech IPO to Harry - great ideas in both scripts so far though - good contributions to this forum

Thanks!

That is funny.

GRP Funding · #10 (**permalink**) 08-22-2008, 03:50 PM

My fave rebuttal for "the money is too expensive"...

I know this seems like expensive money Mr Merchant, but if I promised to buy $13,500 worth of pizzas from you over the next 6 months - that would be a good thing right? Now if I was going to pay for all of those pizzas right now - in cash - would you take $10,000 for those pizzas? Of course you would.

Works like a charm.