Phoenix Financial increases funded deals by 20% with Cloudsquare Broker

Using Salesforce to originate more working capital loans across the country

Providing working Capital for small businesses from a source you can trust.

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About Phoenix Financial

Phoenix Financial Solutions is in the business of providing working capital loans to small businesses across the US. The company was founded in 2017 and was looking for a platform that would allow them to have a competitive edge against similar companies in their industry.

Headquarters: New York

Industry: Financial Services


Services performed

The Challenge

Without a CRM in place it would be difficult to compete with similar companies in the lending industry.

  • Limited visibility into the sales pipeline and understand conversion metrics
  • Inability to capture lead source attribution effectively or knowing how much is being spent on marketing campaigns
  • Not being able to broker out deals to multiple funders simultaneously thus resulting in a slow submission process
  • Limited support for the Renewals department and not knowing when merchants were eligible for renewals
  • Limited data tracking and reporting on important key performance indicators (KPI’s)

The Solution

  1. Cloudsquare decided to implement a Salesforce Configured Cloudsquare Broker, a custom package for the Alternative Business Lending industry that sits on top of Sales Cloud Enterprise Edition.
  2. Configured custom fields, statuses, a page layout, and lead conversion mapping.
  3. Created a dropdown on Lead, Account, and Opportunity relating records to a specific campaign.
  4. Created a shopping tool allowing processors to broker out deals to multiple funders with a few clicks.
  5. Built a robust renewal engine to track renewal eligibility such as paid in percentages for renewal
  6. forecasting.
  7. Configured custom reports and dashboards to track important KPIs.

The Results

Increase in deals, renewal conversions and better insight into company performance.

  •  20% increase in funded deals by having a competitive edge due to a streamlined workflow and faster submission process
  • Gained a 360 degree view on the business by having access to key data points
  • $2,000 monthly cost savings by knowing which leads and campaigns are providing the highest ROI
  • Decreased submission bottlenecks by 15 minutes per deal
  • Increased renewal conversions by 30% by knowing when to market to merchants
  • Insight into company performance, highlighting gaps and trends previously unknown

Alpine Salesforce Case Study

How a small business lender successfully migrated from a dated CRM to Salesforce

Berkman Financial Salesforce Case Study

Seasoned alternative business lending broker uses Salesforce originate working capital loans.

EIN Capital Salesforce Case Study

How a leading lender in financial services modernized its underwriting processes and streamlined its Salesforce implementation.

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