Case Studies

Assure Funding case study

This folder contains all of our case studies for various industries: Technology, Automotive, Real Estate, Education, and Marketing Automation.

Issue link: https://resources.conversica.com/i/964176

Contents of this Issue

Navigation

Page 0 of 1

Assure Funding Unlocks the Digital Secret to Chasing New Business It's tougher than ever for small businesses to secure extra capital when they need it. According to the American Dream Gap Report, six out of 10 companies needing to pay for expansion, cover unexpected costs, or manage temporary cash flow problems can't qualify for traditional bank loans. This difficult environment has created a growing opportunity for alternative commercial lenders like Assure Funding, which works with a syndicate of lending partners to provide businesses with short-term loans, capital advances and credit lines. Loans arranged through Assure Funding range in size from $5,000 to $2 million. "We're not just a broker," says Roman Vinfield, president of the New York-based alternative lender. "We match clients with the partner who best can best meet their needs, but we also invest our own capital in every loan or advance that we provide." That model means Assure Funding tends to see a larger profit from each funded loan rather than just a standard broker's commission. But it also means that more is riding on the process of qualifying, pursuing and closing the deal with prospective clients. Inventing the 'digital chaser' Until recently, Vinfield and his team met their funding goals by employing inside sales staff to ensure that enough people were always available to fill the three key sales positions known in the industry as: an opener, who prospects potential clients and sends them funding applications; a chaser, who follows up on prospects who expressed interest in applying and works to secure all the information needed to qualify for financing; and a closer, who completes the transaction through the funding partner. The chaser's role can be the most time-consuming. Chasers often must make multiple contacts with clients to gather information like bank or credit card processing statements. The process requires patience and relentless devotion to follow-up – and if clients don't respond, chasers often just give up. Customer Assure Funding works with lending partners to provide loans and capital advances to businesses. Challenge Cost-effectively qualify prospects for funding, reengage previously interested leads, pursue leads purchased from third parties, upsell other services, and renew existing customers. Conversica Solution Conversica's AI Sales Assistant with Unlimited Bandwidth. Conversica Virtual Persona Jenna Silva Conversica Assists • 62% jump in completed loan applications • 42% of deals driven by Conversica • 30% increase in renewals • Maintain sales performance with 85% less staff "By using Conversica software I've been able to scale back my staff while still achieving the same results." Roman Vinfield, President, Assure Funding on switching to Conversica's automated sales assistant Financial Services Case Study

Articles in this issue

view archives of Case Studies - Assure Funding case study