Alternative lenders are private companies that provide loans to individuals and businesses. It can sometimes be challenging to find the right borrower or landscape of borrowing opportunities.
Instead of focusing on finding and dealing with the right borrowers, many companies waste their time, resources, and money targeting borrowers who may not necessarily be the right fit.
To find the right lenders, you must source companies that match your unique deal criteria. In addition to finding the ideal borrower, you must also have a strategy in place that helps you build relationships with these borrowers to have a better chance at closing the deal.
Finding prospects is one thing—but making sure they meet your ideal client profile—and converting them—requires a well-thought-out strategy.
These are essential questions to ask when finding prospects.
Finding prospects takes time, money, and resources.
Many alternative lenders struggle to balance running their business and finding the right leads and prospects. Here are tips on finding the right borrowers.
Lenders that invest in companies similar to yours are more likely to show interest in your business. If they have a history of investing with companies in your industry, they are likely to consider you.
You should also look at their past deals to gauge their experience and see if they are the right fit.
Make sure that the firms you target are seeking deals in the same funding stage that you are currently in.
Location can play a crucial role in whether a firm is willing to invest in a company. Do your research to determine if certain firms invest outside of their region.
Remember: it is typically easier to draw the attention of local firms.
Connecting with the right lenders can be challenging if you don’t have the right strategy in place.
A good strategy can help you hone in on your best options and target the right prospects.
That’s where GrowthGenius can help.
With a database of over 375 million profiles globally, GrowthGenius can create targeted lists of relevant borrowers so that you match with your ideal prospects.
Once we source your ideal borrower and qualify them against your criteria, our team can connect you with them by setting a meeting with them directly into your calendar.
But don’t just take it from us. Let’s take a look at some of the success alternative lenders just like you have had from using GrowthGenius.
If your business is struggling to achieve its origination objectives, we can help.
Prospecting is time-consuming work. We have the experience, tools, and resources to find you the right opportunities for a fraction of the cost it would take to do it internally.