Sales
The 5-step sales framework begins with:
Present
All funders automatically refuse to work with merchants who have ever defaulted on an MCA.
False
A small business receives funding from LendMora to purchase inventory for the upcoming season. This is an example of:
Working Capital
During which stage of the sales framework do you probe and reframe objections?
Challenge
Understanding reasons for decline is only useful for rejecting applications.
False
A retailer secures funding from LendMora to launch a social media campaign to boost holiday sales. This is an example of:
Marketing & Advertising
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Why is totality important in sales calls?
It helps the client see you as a trusted professional quickly
True or False: LendMora funding can be used for everyday business expenses such as inventory, payroll, and rent.
True
During which stage of the sales process should you ensure the next step is agreed upon before concluding the call?
Follow up
Provide at least one example of a qualifying question you would ask a prospective client.
Could you use additional capital at this time?
How much funding are you looking for? When do you need it?
Tailor to the industry.
Trucking: "How many trucks do you operate?"
Construction: "What's your average job size?
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Low monthly revenue thresholds for MCA consideration are usually:
$20,000
What does "double funding" indicate about a merchant?
Dishonesty and high risk
At LendMora, cold calling targets:
Qualified prospects showing indicators of needing financing