5 Proven Strategies to Get Business Loan Leads: Free & Paid

This article is a part of our all-encompassing financial lead generation series. In this guide, we examine effective paid and cost-free methods for generating business loan leads.

Exploring the realm of business loans mirrors navigating a landscape of diverse opportunities. The dynamics of business financing and funding continually underscore the vital role it plays in propelling enterprises forward. Did you know that in the latter half of 2022, London stood out as the foremost UK mainland region for small and medium-sized enterprises, securing an impressive total of £22.8 billion in loans and overdrafts?

Business loans often serve as life jackets for companies, helping to get through difficult times or expand a project. Acknowledging this vital role sheds light on the pressing need to enhance the generation of business loan leads.

We know that most lenders operate online, and the challenge lies in finding potential clients, and preferably free of charge. In this report, we will explore effective tips for generating free business loan leads.

A Few Facts About Business Loans

The most recent statistics on UK business lending anticipate that gross lending to UK businesses will hit a projected £496 billion by 2023.

Entrepreneurs understand the importance of financing for business success. Obtaining a loan is just the beginning — the timely utilization of funds is equally vital. According to a Forbes Advisor survey, the majority of business owners spent their recent loan funds within six months.

Source: Forbes

There are various types of business loans available, and each serves different business needs, from short-term cash flow issues to long-term investments. The most popular choices include:

Small and medium-sized businesses often seek these loans for such primary goals:

• Expand operations
• Manage cash flow fluctuations
• Invest in technology or equipment
• Hire additional staff
• Navigate unexpected expenses

Looking to generate organic small business loan leads? This will require an understanding of financial needs, strong marketing strategies, compliance with regulations, and the ability to build trusting relationships. And also consider 5 tactics for generating business leads for free.

How To Generate Business Loan Leads: 5 Key Steps

Here are five proven tips that lenders can implement to obtain free business loan leads:

Digital Marketing as a Channel of Free Business Loan Leads

Strong online presence is the key — you need to invest in online brand visibility to make the cut. Plus, research by Harvard Business School suggests that small or medium businesses seeking loans often explore online resources first.

As a generation tool to get free leads online, digital marketing consists of several parts:

• Keyword research & optimization: Identify relevant terms and phrases potential borrowers use when they surf the internet in search of loans. Integrate them on blog posts, landing pages, and other website content.
• Quality content-making: Providing guides for small businesses, creating financial infographics, and showcasing case studies on loans — all this establishes authority in the industry and increases conversion.
• On-page SEO marketing: At this stage, it’s all about fine-tuning the elements you see on a webpage — catchy titles, helpful descriptions, headers that stand out, internal links, etc. The goal? To climb up those search engine rankings without paying for it.

Social Media Marketing for Paid and Free Business Loan Leads

The frequency of social media usage among Americans is significant, with around seven out of ten Facebook users, and six out of ten Instagram users, visiting these platforms at least once every day.

Source: Pew Research Center

To get free business loan leads, engage with potential clients on platforms where they are most active.

Social media marketing is integral for businesses of all sizes today. With more than 4.9 billion global users, it’s crucial to engage with potential customers on Instagram or Facebook to solidify your company’s brand and influence in the digital landscape.

So, what is essential to do with social networks to get real-time business loan leads?

1. Consistent blogging: Publish informative blog posts about loan-related topics for small and medium-sized businesses to increase website traffic.
2. Active publishing: If you maintain a page on a popular platform, it is vital to share encouraging posts, write comments, and participate in online discussions on business loans to get leads free.
3. Educating clients: Providing instructional resources like webinars, E-books, or guides on business loans helps generate free leads.

Here are several video examples of business loan specialists utilizing TikTok:

How to get your commercial loan leads for free:

The benefits of business funding:

Lead Management Software to Track & Distribute Business Finance Leads

A lead management system is undoubtedly a valuable tool for effectively tracking, distributing, analyzing, and managing the generated business finance leads.

Take Phonexa’s LMS Sync, for instance, — an incredibly versatile lead management software designed to help businesses capture, track, and route leads in real time. It automates lead flow through advanced routing rules, supports ping tree and ping post technology to maximize revenue, and integrates seamlessly with CRM systems. With LMS Sync, lead generators and businesses can optimize performance across their entire lead lifecycle, from acquisition to conversion, while gaining full visibility through powerful analytics and reporting.

If you generate, sell, or buy leads and want to manage or distribute them efficiently, consider Phonexa’s all-in-one marketing software. Book a demo to learn how Phonexa can help you track, analyze, distribute, and manage business loan leads.

Here are some ways you can enhance business finance leads generation efforts with proper software:

Email Marketing for High-Quality Commercial Loan Leads

Drawing from analytics and client feedback, it’s clear that email campaigns stand out as an effective means to generate pre-qualified business loan leads.

Here’s a step-by-step approach for lenders:

1. Build a targeted email list. Compile a list of contacts interested in business loans. These could be prospects who have shown interest, previous customers, etc.
2. Craft top content. Share success stories, industry insights, various loan options, or educational materials about the loan application process via email.
3. Personalize emails. Use segmentation to personalize emails based on industry, business size, or specific business loan needs.
4. Use CTAs. Include clear and enticing CTAs that encourage recipients to take action, such as applying for a consultation or downloading a loan guide.
5. Ensure responsive design. Ensure emails are mobile-friendly and visually appealing across different devices to increase views and readability.
6. Run A/B testing. Experiment with different subject lines, content formats, CTAs, and send times to identify what resonates best with your audience.
7. Automate follow-ups. Use automation to send follow-up emails based on recipient behavior. For instance, follow up with those who visited the loan application page but didn’t complete the form.

As per Social Media Today’s Marketing Automation Survey, 75% of businesses use marketing automation for lead generation, with 75% of them preferring it as the top channel for email campaigns.

Referral Networks to Make the Generation of Business Finance Leads a Breeze

When happy clients or partners spread the word, it’s gold for gathering loan leads. Building a solid referral program — a tried-and-true, budget-friendly approach — encourages current clients and industry connections to recommend potential leads, boosting your pool of prospects.

Additionally, your active participation in industry-specific events, trade shows, and networking opportunities proves instrumental in broadening an outreach. Lenders can collaborate with:

• Other businesses
• Associations
• Financial advisors
• Accountants

Streamline the Management of Business Loan Leads with Phonexa

When you’re generating free business loan leads, going at it from different angles is key. You need to strengthen your online presence, share valuable content, use referrals, and build lasting partnerships to increase the number of business leads you get as a lender. It’s all about aiming for steady growth and long-term success.

Streamline your lead management and drive growth with LMS Sync, one of Phonexa’s core solutions designed to distribute and manage business loan leads.

Get Phonexa’s marketing software suite at a single price:

If you generate, sell, or buy leads and want to manage or distribute them efficiently, consider Phonexa’s all-in-one marketing software. Book a demo to learn how Phonexa can help you track, analyze, distribute, and manage business loan leads.

Frequently Asked Questions