U.S. Market Potential
- There are some 30 million small businesses in the United States and over 500,000 launching each month.
- Approximately half of them have funding needs and have applied for some type of credit.
- Even among those who were approved for funding, 70% didn’t lock up the full amount of funding that they needed.
- Thus, even many of those companies that do secure money are still potential customers for MCA lenders.
- Further, another 16% of would-be borrowers never even bothered applying. Why? Because they feared rejection.
- These 16% of would-be borrowers, by the way, would make excellent MCA leads.
Present Market Conditions – A Burgeoning Market
Massive growth. That’s our prediction.
- The Merchant Cash Advance industry is primed for rapid growth. Fact is, demand for non-bank loans and funding opportunites has reached an all-time high.
- With the American economy enjoying solid growth, countless businesses are looking to expand their operations, and they need funding. Banks, however, often refuse to work with small businesses. Their loss, however, will be the merchant cash advance industry’s gain.
- With as big is the MCA industry already is, it is going to become much, much larger. Why? Experts believe that there is currently $80 to $120 billion dollars worth of unmet funding needs among small businesses, and Merchant Cash Advance companies are in the best position to meet this demand.