subject: The Proper Way to Give Out Loans to Cash Advance Leads [print this page] The Proper Way to Give Out Loans to Cash Advance Leads
A lot of small businesses keep popping out of the ground these days, but not all of these small businesses can keep up with current times. With prices going up for different kind of necessities for businesses, small business owners would rely on the help of companies that give out short-term loans or cash advances to their clients.
As an owner of a business organization that would give out loans to other people, you may have already experienced a lot of scenarios wherein you would give out loans to cash advance leads that own small businesses. To business owners, these cash advance leads can also come in the form of people who are in need cash due to discrepancies on their paycheck.
You can also purchase cash advance leads from reliable sources like lead generation companies. This would give your company the right kind of advertisement and let you know the right kind of people who are interested in partaking in a loan. You would also almost immediately know which people are capable of paying the loans that you have and will give to them.
But you can't just give out loans to any cash advance lead or to any person that would come into your office that would ask for one. As you may have already known, there are some conditions that these applicants for loans need to complete before you can give them loans. Just in case you missed something, here are a few tips on how to give out these loans properly and not commit any mistakes.
Ask Important Questions
When we say important it means to always stay on the topic at hand. Always be professional about your job designation. Ask questions like "Why do you need this loan?" or "What type of business do you run?" Questions like these will make you sound professional and let your clients know that you are a person that can be trusted with in terms of financial problems.
Do a Background Check
Before giving out these loans and after asking question, you may want to do a background check on your clients, just in case. Who knows that the person you're speaking to may have previous unpaid loans to various other loan firms. You can investigate about their financial status, their job designation, or their current livelihood. But not to worry, most people who look for loans are people who can be trusted and you can be assured that they will pay you back on time with the right amount of money. But you never can be too careful, so just to be sure, again, you might want to do that background check.
Let Them Go with Ease
When you deny a person or a client with a loan, get to the point immediately and tell them the reason why you can't give them the loan. Don't just say "We can't give you the loan, Goodbye." When you do this, people might say that you don't trust people enough to give them loans and pretty soon people won't trust you and you might lose your business. Try to sound direct but at the same time mellow it down a bit. For example, "I apologize Mr. ---- , as of now we can't give you the loan because of your previous dues from another company. If you want, you can call us back or visit us again once the previous dues have been paid and we would be more than happy to grant you that loan."
On a side note, when breaking the news to your clients that were denied of loans, try to apologize more than saying "I'm sorry." This is because when you say sorry you are taking most of the blame as to why you can't give the loan whereas when you apologize, it would mean that there are a lot of conditions as to why you can't give out the loan and not just your own decision.
