Are you wondering how to find business loan prospects? Klover Data knows that this is a big challenge. This is true for lenders, MCA providers, brokers, etc. Generic business lists provide business names & contact info. But they may not offer enough context for a targeted funding operation.
UCC filings are another source of business details. A uniform commercial code filing is a public filing. This is linked to a safe transaction. UCC information helps financial companies. They can find out businesses associated with protected financing activity.
Klover Data provides UCC leads. These help MCA providers & financial companies. We know that they look for targeted business prospects. Our UCC lead service supports segmentation. This can include factors like filing date, business type, loan amount, & state.
So how can companies use UCC details as part of a prospecting plan?
What Is a UCC Filing?
A UCC filing is generally associated with a secured transaction in which a creditor has an interest in specified collateral.
The filing may contain information about-
- Debtor
- Secured party
- Filing date
- Collateral
- Filing status
- Related filing activity
The exact information available depends on the filing and jurisdiction.
For lead-generation purposes, the important point is that UCC records can provide additional context about businesses that have participated in secured financing arrangements.
Why Are UCC Filings Useful for Prospecting?
Financial companies want to identify businesses with experience with debt.
UCC data is crucial for sales teams. They can research companies linked to safe transactions.
However, people must not interpret a UCC filing as some kind of proof. This doesn’t mean a company presently wants a new debt. Instead, it is a signal within a larger qualification process.
Combining UCC information with business & contact data is critical. This creates a more targeted prospect profile.
Step 1- Identify the Business
Start by classifying the debtor or business named in the filing.
Check-
- Legal company name
- DBA name
- Business area
- Sector
- Other accessible business details
Business names can be the same sometimes. So, confirming the correct company is important. This must happen before outreach starts.
Step 2- Check the Filing Date
Filing date offers key context. A newer record & an older record can never be treated identically. You may choose to segment prospects according to filing recency.
Klover Data allows UCC campaigns to be segmented. We use filing date & other criteria. Firms can simply make targeted campaigns. They don’t need to send 1 generic message to all records.
Step 3- Review the Secured Party
The secured party is another detail facilitating research. Knowing the parties linked to the filing offers context. This is about the company’s present safe monetary connection.
Such information is research data. This is never an indication that the firm is looking for extra loans now.
Step 4- Review the Collateral Description
UCC records can contain information. Examples include collateral associated with the safe transaction. Reviewing this information offers extra context.
Checking collateral descriptions can be technical. Sales teams must not draw conclusions that the filing itself isn’t supporting. Use the information for broader company research.
Step 5- Check for Additional Filing Activity
A business can have multiple filings. Or it can have many related filing activities. Reviewing available records is a great decision for your team. They can know if the company has-
- More than 1 filing
- Amendments
- Continuations
- Terminations
- Multiple filing dates
- Many safe relationships
This creates a more complete picture of U.C.C. details.
Step 6- Add Business Information
U.C.C. details are not enough. Only these can never make a full prospect. Companies should use these with-
- Sector
- Business size
- Area
- Business age
- Revenue signs
- Contact info
- Other pertinent business features
For example, a lender may specialize in transportation companies. He can then create a UCC prospect segment for trucking/logistics companies. A funding provider for eateries must create a unique segment.
Klover Data’s UCC lead lists can target multiple industries. These can also be segmented by business-related criteria.
Step 7- Verify Contact Information
No company should randomly start an outbound campaign. They can check the contact info for your prospects.
Useful fields comprise-
- Company phone
- Contact name
- Business address
- Company details
Klover Data’s UCC lead lists involve validation & DNC-related scrubbing procedures. Your organization must keep up with its own data-quality & compliance events.
Step 8- Create Prospect Segments
Do you know what the biggest advantage of structured UCC data is? It is the ability to segment prospects. You could create campaigns based on-
Industry
State
Filing date
Business type
Loan or financing characteristics
Segmentation makes outreach more pertinent. This will become simpler to quantify.
Step 9- Build a Relevant Outreach Strategy
Companies should classify a target audience. Then, they can create messaging around the prospect’s business context. They should skip assuming that a UCC filing means the company wants loans presently.
Rather, the conversation must be around knowing the firm’s present situation. This must determine whether there is a relevant financing need.
A useful outreach tactic must be-
- Pertinent
- Clear
- Professional
- Permission-conscious
- Right for the prospect
- Steady with laws
Step 10- Measure the Campaign
Track the performance of your UCC prospecting campaign. Check initial outreach & final outcomes.
Keep an eye on-
- Received records
- Contacts attempted
- Chats
- Qualified prospects
- Applications
- Approvals
- Funded deals
- Cost for each prospect
- Cost per funded opportunity
This way, your team can have an idea of which UCC segments are making the right breakthroughs.
UCC Data Should Be a Starting Point
1 important point is that UCC Data must stay clean. A UCC filing does not guarantee financing intent. It can mean that a company is linked to a safe transaction. But it doesn’t set up-
- Present financing demand
- Creditworthiness
- Eligibility
- Profits
- Ability to settle up
- Keenness in your product
So, UCC data works best as a part of broader prospecting & qualification tactic.
UCC Leads vs. Generic Business Lists
A normal company list must tell you that a company is present. UCC data must provide extra financing-related context.
That difference is important for financial companies. This way, they can know how to find business loan prospects.
For example-
Generic list- Business name + phone + industry
UCC-focused prospect: Business info + UCC-related filing information + related segmentation
The 2nd tactic offers more context for a funding-related operation. Still, actual lead quality depends on data accuracy & targeting. Plus, qualification & sales execution are critical aspects.
Build a More Targeted UCC Prospecting Campaign
Still wondering about how to find business loan prospects? Klover Data offers UCC leads for lenders and funding companies. These have targeting options. These help firms a lot. They can build more concentrated operations.
Do you want to reach businesses in a particular industry or state? Or are you focused on filing period & financing segment? Then, structured UCC data can be really helpful.
Contact Klover Data. Discuss your UCC lead requirements. Create a targeted prospect list for your sales campaign.
FAQs
What is a UCC lead?
A UCC lead is a business prospect. Such a prospect is linked to information from a Uniform Commercial Code filing. This data offers financing-related context. Thus, it is useful for lenders & funding firms.
Can UCC filings help find business loan prospects?
UCC filings identify businesses. They are linked to secured financing activity. Yet, the filing itself doesn’t prove that a company wants financing at present. So, the extra requirement is significant.
What information can UCC leads contain?
Information may include the debtor, secured party, or filing date. Or there can be collateral info, filing status, etc. This hinges on the record & jurisdiction.
How can Klover Data help with UCC prospecting?
Klover Data provides UCC lead lists. These can be segmented by many factors. Examples include filing date, business type & loan amount. Other factors include state, validation & DNC-related data processes.