Business Bridges Frequently Asked Questions

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FAQ's

How do you know when the loan renews?
Business Bridges has developed a proprietary process that's based on the date of the Uniform Commercial Code (UCC) filing with the Secretary of State. They use special algorithms that determine the ideal "window" for approaching the prospect just before their loan matures. Research has determined this is when businesses are most receptive to a counter offer.

How do you do that?
We help our clients sculpt a custom database that combines the contact information with the business’ UCC filings. We then filter the result based on the client bank’s Ideal Prospect Profile.

I use referrals almost exclusively. How does your service work with or support that?
Our clients have discovered that unless they have a target list of ideal prospects to present to their referral sources, the referrals received often are of low quality and can lead to an embarrassing situation for both the referrer and the bank when declined. On other hand, a list of highly qualified prospects can provide the solid foundation for a win/win/win long-term referral partnership.

Don‘t other companies provide UCC information?
Yes, but only Business Bridges provides UCC sculpted data that’s based on your ideal prospect profile. The others just provide raw UCC data most of which is just chaff. They often include businesses that do not match your ideal prospect profile or are non-bank related UCC’s that we filter away. We save you money by only charging for useful information that you have approved.

How do your rates compare to those of others?
It is probably the least expensive if taken in the context of using technology to sculpt data and append strategic information before expensive marketing is applied.

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Can you identify the client businesses of a specific financial institution?
Yes. It’s based on selecting all UCC’s filed by the targeted secured party(s), and filtering them based on the bank’s ideal prospect criteria. Our process returns just the prospects that meet all these conditions. Geography, SIC Code, annual sales, and location type, for the business clients of the target bank.

Are there other ways I can use information that Business Bridges provides?
We can also include the UCC filing date/month in the finished output file. This alerts you to when the existing loan may be coming up for review or renewal. You can plan your call strategy based on that anniversary date/month. You do not want to call on a prospect just after their loan has been renewed or reviewed.

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