How to improve my loan business

I do short-term, high-interest cash advances for business. Typically they range between 20-50%. My marketing iseffective, but I feel there is room for improvement.

I'm currently doing fax broadcasting. It is illegal here in the States, so I use Canadian companies for my VOIP number and website.

I am looking for ways to generate leads. My cost per inbound call (all expenses included) is roughly $5.50. There must be a black hat way to decrease this cost.

Please help me brainstorm ways to bring my cost per lead down, as well as ANY and EVERYTHING that I can do to improve my fledgling business.

Thank you,

Fast Working Capital

arsec said:

Reduce the interest and increase the months/days you ask them to return their whole money back you seek from your customers and then build the business with them by making them your regular client

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The interest is not the problem; at the rate the clients are taking the loans, it would actually be a smarter business decision for me to INCREASE the interest rate (when your portfolio expands too rapidly it's important to increase costs to improve ROI & profitability). Average client renews their loan 2.2 times.

The primary issue I'm having is reaching enough leads at the lowest price possible. My cost per inbound call (after all expenses) is roughly $5. With 100 inbound calls you can expect roughly 2-5 deals with average gross profit margin of between 4-10K. Not too difficult to fund 10+ deals per month, per rep (currently I have 5).

My question is, what mediums besides fax broadcasting can get a cost per inbound call of less than $4-5? I need to make a transfer to a legal marketing format due to ambulance chasers attempting to sue.

Thanks,

Fast working capital

Cold calling? Media buying?