The first call with a merchant

The first call is not a pitch. It has three jobs: learn enough about the business to know whether you can help, give the merchant a reason to trust you with their bank statements, and agree on a next step. If you end the call with those three things, it went well, even if you never mentioned a rate.

Open with who you are, where the lead came from ("you filled in a form on our site yesterday") and how long you need: "Do you have ten minutes now, or is there a better time?" Asking permission costs nothing and changes the tone of everything after it.

Ask open questions first and let the merchant talk. The facts you need will come out, and so will the things they care about.

Use of funds

• "What is the money for?"
• "What happens if you don't get it?"
• "How did you arrive at that amount?"

Revenue and the business

• "Roughly what comes into the business account in a typical month?"
• "Is that steady, or does it swing with the seasons?"
• "How long have you been open, and do you own the business outright?"

Existing financing

• "Do you have any advances or loans you're paying now? Roughly how much a day or a week?"
• "How did that experience go?"

Timeline

• "When do you need the money in the account?"
• "Is anyone else working on this for you?"

• PositionsA position is one open cash advance on a merchant's account, numbered in the order taken: first position, second position and so on.
• True revenueTrue revenue is a merchant's real monthly sales on the bank statements: total deposits minus transfers, loan and MCA proceeds, refunds, reversals and owner money.

Merchants who have been called by many brokers have heard every opening line. What they rarely get is someone who remembers what they said. Take notes while they talk, repeat back the important parts ("so the cooler has to be replaced before the July 4 weekend, and you're paying one advance at about $300 a day") and ask follow-up questions about their answers rather than moving down a script.

• Never promise approval, an amount or a rate. Say what happens next and roughly how long it takes.
• Explain what you need and why: a signed application and the last few months of business bank statements, so lenders can see real revenue.
• Say who will see their file: you will send it to a small number of lenders that fit, and you will tell them which ones.
• Be clear about the product: a merchant cash advance is expensive money for a short period. If a bank loan or line of credit might work, say so.

End with one specific next step and a time: "I'll email the application in the next ten minutes. If you can send it back with the last four statements today, I can have it in front of lenders tomorrow morning."

On a lead in Ferrylend, Log call records the outcome in one tap with notes and a follow-up time, and the Next follow-up date keeps the lead in front of you. The answers you collect (monthly revenue, time in business, amount needed, positions) go on the lead and carry over when you convert it to a deal. A built-in click-to-call dialer is Coming soon. See the deal pipeline and Convert a lead.