Tips to Growing your Business using a Merchant Cash Advance

Any small business can benefit from receiving a lump-sum of money at various operational stages of managing the venture. If you have a small business in the US, Mantis Funding LLC provides a financing tool that can help you grow your business and take advantage of opportunities that you could not do before. Read on the see the eligibility criteria and some scenarios where a merchant cash advance as a funding solution can be beneficial to you as a business owner.

Eligibility criteria for a Merchant Cash Advance

When Mantis Funding reviews your application, they do not take credit scores into consideration. Therefore, even if you have a low credit score, you can still be eligible for a cash advance from the company. In such a situation, going to a bank for funding may not be the best option for you as your application may not be approved. Furthermore, applications with banks can take months to get processed.

Mantis Funding LLC approves applications based on the proof you provide of consistent sales in your business. They may look at historical as well as current data to finalize their decision. This is because the method of repayment of the advance is tied directly to the amount of revenue your business generates on a monthly basis. Hence, the repayment terms are flexible and can vary from one business to another.

Few innovative ways to use a cash advance in your business

Mantis Funding is not in any way concerned where and how you invest the money given by them in your business. They only require that you pay back the advance in a phased manner as decided in the terms of repayment.

  • Add new stock: Purchasing new stock or even replenishing stock that is in demand is a way to keep customers interested and coming back to you for repeat business. This is especially true during busy or peak sales periods such as festivals and holidays. Extra capital can help you add to your stock and maximize on your profits during such seasons by meeting customer demands.
  • Manage payroll on time: If you know you are in a situation where you will not be able to meet the payroll obligations for your employees during a particular month or lean business seasons, Mantis Funding LLC can help you with a cash advance. This can avert potential lawsuits that your business may face otherwise.
  • Unplanned business expenses: Unexpected or even unplanned expenses can take a huge toll on your business. To meet these expenses, you may require a quick infusion of cash in the form of merchant cash advance to help you deal with the situation at hand and solve the problem. It could be some urgent repairs that cannot wait or some maintenance issues that need to be taken care of immediately.

Mantis Funding reviews highlight the fact that merchant cash advance from them can be a life- saver for a small business like yours and also for others with similar organizational size and structure.  It can open the doors to new business development opportunities and keep you ahead of your competition.

Challenges Small Businesses Face When Seeking Financing

Mantis Funding has assisted thousands of small companies in obtaining financing for their operations. They have both seen and heard of the difficulties that small companies face while applying for funding. Normally, most institutions want to provide funding to any business in need, but this is not always possible. There are a number of factors that could preclude you from receiving funding. They can, at the very least, make it more difficult. The following are the top five obstacles that small companies face while looking for funding:

Not Enough Time in Business

If you haven’t been in business for a certain amount of time, getting funds from any lender, especially a conventional bank can be extremely difficult. If you’ve recently purchased an established franchise that’s been in operation for at least five years, you may be able to get funding only after two months. On the other hand, when you apply for a Mantis Funding cash advance, the company processes your application in such a way to make the funds available to you almost immediately. Normally, banks are wary of high-risk businesses as there’s no way to know if the company can make enough money to repay the funds if there’s no history.

No Business Bank Account

In the underwriting process, having a business bank account is critical. It’s used to check the company’s sales and length of operation. According to a survey, 70% of small business owners who applied for bank funds were denied because they did not have a business bank account. If you don’t already have a business bank account, open one right away.  After three months, if you have steady, healthy sales, you will be in a great position to receive funding approval from Mantis Funding. Apart from having a business bank account in order to be eligible for funding, there are many other essential reasons to have one. Some of these factors include maintaining clean and correct bookkeeping for IRS purposes, as well as the fact that it is needed if your company is incorporated.

Inconsistent Revenue Stream

On your bank statements, one of the first aspects that a lender looks at is your revenue stream. Big swings in sales, particularly if your monthly revenue is poor, could be a warning sign. This will be a recurring theme, but for the lender, it’s all about reducing risk. Depending on the market, how much revenue you receive during the low months will be important.

Changes in Personal Life

A significant change in your personal life could have an effect on your ability to obtain bank funds. Fortunately, this does not have a bearing when you apply for a Mantis Funding cash advance as long as you have a stable company that has been in service for at least three months.

Low Credit Score

A poor personal credit score is another red flag for most conventional banks and lenders. Their reasoning is that if you can’t handle your personal finances, you won’t be able to manage your company finances either. Although this may be true for certain business owners, there are occasions when circumstances arise that result in a low credit score.

Your best odds would be to apply for alternate financing at Mantis Funding to keep your business running as usual.

Top Questions Answered About a Mantis Funding Cash Advance

Heard of Mantis Funding LLC but not sure of how they can help your business? This firm provides funding solutions in the form of cash advances to small and medium sizes enterprises that have short-term cash requirements for various purposes. A cash advance can help your business tide over financial struggles and focus on growing your core business.

Read on to find answers to some common questions about the company and how they work.

Why choose Mantis Funding as your preferred funding partner?

Mantis Funding has been in this industry for many years and has provided its services to multiple businesses in different niches such as retail, auto, medical stores, etc. Today, they are considered to be one of the most reliable and reputed funding providers in the United States. Timing is key when it comes to providing financial assistance to small businesses. When a business opportunity arises, you need funds to capitalize on that opportunity before it runs out. Keeping this in mind, a Mantis Funding cash advance is processed very quickly after a short application and approval process.

How can you apply for a Cash Advance?

The first step in the application process is to get in touch with a representative from Mantis Funding over the phone or even through email. They can be reached at 1-877-494-1499, and the email id for correspondence is info@mantisfunding.com. A company representative will provide you with an application form and will inform you of documents that you need to furnish to complete the application process. Normally, these documents would include proof of identification of the applicant and the business, bank statements, and other revenue documents to prove that your business is generating sufficient income. In some cases, additional documents may be requested by the company. Once the application is submitted and approved, you will receive funding as a lumpsum amount in less than three working days.

Are there any hidden fees when applying for funding?

Applying for an advance does not involve any fee. Once the company reviews and approves your application, you will receive a funding agreement that will highlight relevant terms and conditions as well as any applicable fees. If you have questions and clarifications, your account manager will be happy to address them and provide additional details.

Who can qualify for a cash advance?

Businesses can qualify for a Mantis Funding cash advance if they are operational and have been consistently generating sales. Further, you do not need to provide a business plan or a growth strategy. Unlike a bank loan application, your personal credit status or the availability of collateral will not have a negative effect on your cash advance application with Mantis Funding.

Mantis Funding has fostered long-term and lasting client relationships with their focus and commitment to serve customers with hassle-free funding and flexible repayment options. Their vision as a company is to grow with your business as they provide the tools to help you become successful.

Merchant Cash Advance a Great Alternative to Bank Financing

If you are a small business looking for immediate access to cash for your daily operational needs, bank finance may not be the right solution for you. Mantis Funding LLC offers cash advances to small and mid-sized business establishments to address this specific need. 

Why Merchant Cash Advance is Beneficial?

When dealing with a bank or traditional money lenders, a lot of documents need to be submitted and credit risk assessed before your application can be approved. Further, time is wasted for processing the application even if it is finally approved. As a small business establishment, getting funding quickly with flexible repayment options is essential. This is where a Merchant Cash Advance from Mantis Funding LLC comes into the picture. Mantis Funding provides small establishments with the financial tools required for them to grow and succeed. 

Ease of Using a Merchant Cash Advance

MCA lending firms such as Mantis Funding do not focus on credit scores to determine whether a business qualifies for a cash advance. They only consider past and current business income for eligibility. A merchant cash advance works quite differently from regular financing. For example, a business gets lump sum working capital, and the lender remits a percentage from daily or monthly sales made through debit or credit card transactions until the advance amount has been cleared by the business owner. The agreed terms can vary depending on the contract signed by the parties involved. Regardless of the business vertical and a high-risk or low-risk venture, Mantis Funding will render its services unbiased. 

The Application Process for Mantis Funding

The process for applying for funds is quite easy and quick. The applicant will need to provide a personal and business ID, proof of steady profits in the business, and divulge average revenue received monthly as well as average business is done through credit cards. Apart from this, you will need to fill the required fields in the application form and mention details about your business, your experience in the industry, and the amount of financing you need. You will also be asked for basic contact details in case the company needs to reach out for any further clarifications or additional documents. 

Choosing a Reliable Lending Firm

Evaluating different firms to find a reliable lending company may be time-consuming. With Mantis Funding, you need not have any fear. Mantis Funding reviews prove that this company is completely dependable when it comes to dealing with clients and providing customized funding solutions. The company believes that every customer is unique, and every business need is different. Funding solutions recommended by the specialized team of advisors at Mantis Funding are tailor-made to suit specific businesses and are highly flexible. If a business owner decides to accept the funding recommendation, the remaining part of the transaction is handled efficiently and seamlessly. Funds can be transferred into a customer’s bank account within a 3-day turnaround period. 

Utilizing Your Funds

Mantis Funding LLC will not interfere with how a business chooses to use the funds received from them. These funds can be used for the expansion of a business through new investments or purchases, advertisements, website development, or even for the daily operational needs of the business. Once the funds are in the customer’s bank account, they have the freedom to use it as they see fit, provided they fulfill the repayment terms according to the signed contract. 

Engaging with Mantis has enabled small business establishments to overcome their financial dependencies and focus on business development. Read Mantis Funding reviews online to see how satisfied clients are with their simple and convenient funding solutions. 

How SMEs Can Improve Their Strategies To Survive In The Market?

Time is crucial and the market is fickle. Only small percentages of small and medium businesses survive the challenges posed by the market. To survive for more than 5 or 10 years, a businessman needs to be very astute and sharp with his tactics.

However, before going ahead, we first need to understand the factors that result in the downfall of small and medium businesses.

  1. Choosing the wrong market with a poor marketing technique.

The items they are selling are not in demand and their marketing techniques are lacking the edge it needs to engage with the customers.

  1. Lack of back-up funds

This is the case with many firms. In quest of expanding, they tend to divert from the fact they need reserves to fall-back. So, when the situation arises, they run out of money and have nothing to fall back on.

  1. Not having an adequate or trained workforce

Often people get this thing wrong. Having a good and trained workforce is a decisive factor in a venture’s success. However, the lack of the same can also lead to downfall.

So the question that arises here is what to do? How to strategize things that can work in favor of an SME?

Though there are many unpredictable things happening in the market, and, this is an uncontrollable factor. But the controllable factor that a businessman can get right is his planning. So, how should a businessman go about things? Let’s have a look:

Plan meticulously

Understanding the pattern of the market is critical. Analyze past trends and the upcoming one. Create detailed plans using market research. In fact, you can hire a data analyst who can give you precise knowledge about the different facets of the market, which can be used in forming and changing the plans.

Bringing a trained workforce

As we said, this is something that is very important. Their competence will help you derive profits which can help you to expand your business. However, this can only happen when you are astute while hiring them. Furthermore, there is one more way to go about this. You can also hire a group of freelancers to do a certain job, in this way you can lower the payroll of your firm during the initial phase.

Putting money in the right place: Marketing

Marketing is a tool that can determine the fate of any business, irrespective of its size. It is very essential to keep a part of the budget aside for this activity alone. Apart from that, it is important for a businessman to realize that the future is online. Your digital presence will dictate your terms. Hence, it is important to work with a group of people who are skilled in this particular field.

However, paying them additionally to your budget can put a little burden on your cash flow. Hence, opting for a Mantis Funding cash advance is a wise decision as instant funding helps you to carry out your work smoothly. Further, their easy repayment ensures that there is no hindrance in the incoming capital.

Also, in case you find yourself stuck at some point regarding this service, there are sections like that of Mantis Funding complaints that shed sufficient light to clear your doubts.

5 Types of Alternative Financing Services All Entrepreneurs Should Know About

For small businesses, it is critical to have access to fast funds. While in most instances, their liquidity requirements are small (less than $10,000), the speed of funding is vital. The traditional banking sector has, sadly, not been able to serve the needs of SMEs – the approval time generally extends into weeks, rejection rates are high, and funding offers are rigid. And if by chance, the owner or the business doesn’t have a good credit history or collateral, then the chance of getting the funds become razor-thin.

The failure of the traditional financial sector prompted SMEs to look elsewhere, and they found a perfect partner in alt-lending institutions, who provide fast and flexible funding to all sorts of businesses – even the ones deemed high-risk.

Here is a list of the most useful types of alt-fin services for SMEs –

Equipment Financing: For SMEs looking to upgrade or add new services, the high cost of equipment is usually their biggest expense (and hence, a roadblock to growth). Alt-lenders such as Mantis Funding, which primarily serve New York-based businesses, offer two types of equipment financing – leasing aid and equipment purchase funding. In both these offers, the business owners just need to put in a small initial amount while the rest of the expense is taken care of by the lender.

(Recommended for businesses that don’t have enough cash reserves for purchasing expensive equipment or don’t want to tie up cash reserves in large equipment payments)

Business Line of Credit: A perfect option for small businesses looking for long term funding! A line of credit works just like a credit card wherein a certain amount is agreed upon between the lender and the client. The business owner can withdraw and use the sum as and when required and only pay interest on the amount used.

(Recommended for businesses looking for capital for long-term operational costs such as working capital or as expansion funding)

Accounts Receivable Financing: Using their business receivables (such as invoices) as collateral, SMEs can generate capital through alt-lenders. Companies like Mantis Funding reviews the receivable and purchases it for cash. When the money flows in, they get repaid automatically.

(Recommended for businesses strapped for cash due to slow payments from customers)

Merchant Cash Advance: A merchant cash advance (MCA) is like an advance on a business’s future earnings. It is decided by looking at a  projection of future earnings, based on past revenue patterns. For example, Mantis Funding reviews quarterly or annual revenue flow of a company and, based on that, advances a cash amount. The repayment is made as a percentage of their daily sales.

(Recommended for companies in need for quick and small funds to tide over urgent cash flow problems)

Purchase Order Financing: For businesses, which have pending orders but are having trouble fulfilling them as they don’t have immediate capital to buy manufacturing supplies or pay for business expenses, purchase order financing is a perfect funding option. They can sell a customer’s purchase order in exchange for capital and fund the manufacturing costs.

(Recommended for businesses looking to expand their services with new clients)

For entrepreneurs, doing business has become a tad more manageable with the support of alternative lenders. Whether they need to get through a tough cash flow situation or grab a sudden business opportunity – SMEs can now be sure of gaining access to fast and fair funding deals through agencies like Mantis Funding.

Why Is Quick Funding Important In Small & Medium Businesses?

The importance of non-bank funding organizations giving quick cash advances to meet immediate needs is getting popularity quite increasingly. The funding by these organizations is much favored by small and medium scale business owners as the assessment criteria depends on the income stream and plan of action of the business.

Additionally, reliable and established companies provide the borrowers with a department where they can express their complaints named Mantis Funding and get them settled by a group of professional experts.

Why does a business need instant Mantis Funding Cash Advance?

A lack of access to capital that could essentially affect the everyday activities of one’s business could emerge all of a sudden. An unexpected upsurge of item costs, an increase in wages, change of clients, an increase in rent or just a business plan of expansion. All these could result in a quick demand for cash.

While these circumstances can’t be evaded, the accessibility of adequate working capital inflow can smoothen the procedure and get things moving the correct way. Therefore, an instant Mantis Funding Cash Advance becomes possibly the best solution for dealing with such challenges.

Why choose Alt-Financing over banks?

Traditional options like banks are very particular and strict about their terms and conditions and fundamentally consider the present credit scores of the applicants during the approval procedure. The application process, verification process, and approvals are tedious and lumbering.

That is why when small scale business owners look for funding, time is of the quintessence as prompt capital convergence is required to recapture monetary dependability. Moreover, the Mantis Funding Complaints team guarantees the endorsing of cash advances immediately, in contrast to banks. Getting quick cash inflow straightforwardly to your business account on adaptable repayment terms is the prerequisite and that is actually where alternative funding organizations come into the scene.

How to find a trustworthy alt-financing company?

Whenever a business needs an exceptionally little cash advance that is adequate to hold over the crisis, non-bank alt-funding companies like Cresthill Capital and Mantis Funding are the most ideal choices accessible. Where conventional funding choices neglect to help, these non-bank funding companies help SMEs by giving them precisely what they need with insignificant intricacies and most importantly at a faster speed.

They verify factors like the income stream, client base and the general plan of action instead of exclusively depending on credit scores as banks do. This is how they decide the credibility of the applicant and once everything is good to go, the repayment terms are settled in an agreement quickly.

Repaying a Mantis Funding Cash Advance is normally customizable and is done in small parts wherein a small fixed percentage of sales are given out on a monthly basis. This type of flexible and easy repayment option serves as a helpful factor for entrepreneurs who don’t need to depend on keeping a fixed value like they do in the case of banks.

Alternative Lending- A Comprehensive Solution For Modern Entrepreneurs

Numerous small and medium scale business owners are nowadays going for alternative lending companies when they need some funding to get past an unpleasant phase. This isn’t simply because such companies help businesses with sufficient money immediately, but also on account of the client-friendly communications. For example, we as a leading non-bank financing company, give you a dedicated team to voice your Mantis Funding.

Generally, the funding applications of small and medium scale businessmen were turned down by traditional lenders. Nevertheless, these days they don’t need to be contingent just on banks. Alternative financing companies like us can make all the difference. We give Mantis Funding Cash Advance offers to deserving entrepreneurs with the primary goal of helping smaller scale ventures.

In contrast to banks, we are happy to finance businesses that haven’t been doing business for several years and might not have an immaculate credit history. Moreover, every one of the issues of the customers is resolved immediately by the Mantis Funding Complaints team of experts.

Unlike banks, leading alternative funding companies usually check out all of the facets of a business. All you need to have is a product, service or idea that is highly in demand. Just in case everything a businessman does is sell Christmas trees and just at Christmas, it most likely won’t have an income stream that will help in the reimbursement.

However, while providing a Mantis Funding Cash Advance we audit the plan of action or business model of the company. What is it selling? Is it reasonable? Would it be able to be extended or can comparative administrations or items be offered later on, which would enable the business to develop? How is the income stream? What does it do with the cash it makes?

Companies that have a solid or developing client base and offer an item or administration that is popular have a decent start at meeting the prerequisites. Just in case their income stream has developed since the business has begun, regardless of whether it developed gradually, it shows that the business is offering something that the public needs.

When we find out what the business owner does with the income and discover it is reinvested in the business, it is another sign that he/she could be a good risk. The needs set on the circulation of income is significant.

However, you may be rest assured after signing a contract with us as just in case you have an issue or doubt regarding the terms and conditions, you can easily voice it. In spite of the way that the reimbursement choices are upon commonly concurred terms and adaptable, conflicts might emerge, and we pay attention to it very seriously. We will work with the customer to get to the base of the issue, discover the reason, discover an answer and set up controls to guarantee there is no rehash of the issue.

How Business Cash Advances Can Help Seasonal Businesses Tide over Cash Crunch Issues

Running a seasonal business is akin to riding a rollercoaster. There are ups and downs, especially with regard to cash flow. Maintaining the business in the off-season and paying for unexpected expenses can be particularly challenging, especially since it’s not easy to secure funding from banks for such businesses. Business cash advances from companies such as Mantis Funding can be an attractive alternative source of financing.

Challenges of Seasonal Businesses

Seasonal businesses are unique! They allow business owners to make maximum transactions during a certain period of the year but can experience massive falls in revenue during the off-season. Examples of seasonal businesses include landscaping, vacation rentals, sports bars, and snow removal businesses to name a few.

However, businesses still need cash flow in the off-season to cover payables which remain the same throughout the year. Smart businesses try to scale back operations during the off-peak season or try to find alternative sources of revenue. However, there may be sudden expenses that require a quick infusion of working capital.

Banks Are Not The Best Option

A business cash advance from Mantis Funding can be a reliable source of financing for small seasonal businesses that find it difficult to secure funds from conventional money lenders. Banks often have stringent criteria for approvals and take into account various factors such as personal credit score before approving.

They may also ask for collateral before granting a cash advance. Moreover, the time-consuming process of approval and a fixed schedule for repayment can be a burden on the business owner. Small seasonal businesses would find it challenging to secure and repay in such cases.

Easier Approval Process for Cash Advances

One benefit of a business cash advance is that a company like Mantis Funding reviews applications rapidly and clients do not have to wait for months to get the lump sum amount in their business bank account. When you need urgent capital infusion to cover payroll or purchase goods available at a discount, this factor can make a huge difference.

Moreover, the business owner’s credit history and history of seeking business funds are not taken into account. For business cash advance approval, factors such as the ability to pay through future receivables, business models and customer base are taken into account.

Flexible Repayment Terms

Repayment for a business cash advance is in the form of a percentage of future sales that is given to the lender on an agreed periodic basis. The repayment schedule is often flexible and you can pay back more when you have more sales or pay less when you have fewer sales.

Since there is no physical collateral involved, applicable fees may be higher and the terms of the agreement may be very strict in order to protect the lender’s interests. It’s important to read the fine print and research into companies offering business cash advances before committing to one. Mantis Funding reviews online are mostly favorable, with many satisfied customers providing positive feedback.

Don’t let cash flow woes become a roadblock to the success of your seasonal business. Get over cash crunch problems with a business cash advance!

Five Ways Small Businesses Can Use Cash Advances to Grow their Business

For small businesses in America, cash advances are a useful working capital financing tool that can help avert crises and open doors to opportunities. Given below are some situations when the services of working capital funding companies like Mantis Funding can be a life-saver to micro or small businesses.

Purchase New Inventory

If you’re in the business of selling physical inventory, there are bound to be times when you’ll need extra working capital to purchase fresh inventory either to overcome shortages or prepare for busy seasons such as the holiday season. Without an adequate amount of inventory, you could end up losing out on sales during a profit-making period. By using working capital solutions by Mantis Funding, businesses can make sure they have enough inventory to meet consumer demand.

Cover Unexpected Expenses

There may be sudden, unexpected circumstances that require a quick infusion of working capital. For example, you may have an opportunity to purchase inventory at attractive discounted prices. You may experience equipment breakdown and have to repair or purchase new equipment to keep your business running. Mantis Funding reviews your application quickly and you can get your cash advance within a few hours or just a couple of days if everything is in order.

Meet Payroll Obligations

Sometimes, you may face the situation of having to miss payroll. If you know you’re going to miss payroll, you should act quickly to make working capital arrangements so that you won’t have to face potential risks such as lawsuits and tax liabilities. A traditional money lender may not be as understanding of your challenging circumstances– but Mantis Funding can be.

When providing working capital solutions to customers, there is no restriction on how the cash advance will be used. All that is considered is your ability to pay back the cash advance in a phased manner.

Overcome Cash Flow Shortages

Small businesses often face cash flow system problems due to a lack of a proper accounts receivable system. If you find that your business is short of working capital because your customers have not paid you, Mantis Funding can provide a cash advance to cover expenses in the interim period.

If you’re considering renovating business premises, you may find that traditional money lenders may not be excited about lending a small amount such as a few thousand dollars. There are no such restrictions when you are applying for a cash advance.

Obtain Financing Even if You Have Bad Credit Score

A traditional bank may reject your application if you have bad credit ratings even if your business is profitable. Mantis Funding reviews each application based on proof of consistent business revenue in the past and current times. It does not take credit rating into consideration.

The method of repayment for a merchant cash advance is also different – you will have to pay a percentage of revenues coming from sales on a periodic basis which allows you to pay back at the pace of your sales.

If you are faced with any one of the above-mentioned circumstances, you may consider merchant cash advance as a suitable working capital funding solution!