How Alternate Funding Can Help Your Liquor Store?
As the owner of a liquor store who is in need of funds, you may have reached out to a traditional banking facility. You may also be one of the many merchants who have been denied approval over and over again since banks look at liquor stores as a high-risk business. With companies such as Mantis Funding LLC,you won’t have to run from pillar to post to secure valuable funds.
Benefits of a Merchant Cash Advance Alternate financing firms offer cash advances so you can buy new stock or hire new workers for your liquor store. But how exactly does it work and benefit a business? A merchant cash advance has flexible repayment terms that are based on a small percentage of future sales. The percentage of sales may change every day or on a monthly basis.
On the other hand, the holdback limit will not change throughout the repayment term, which means there is no set amount or term. As and when the revenue changes, there is an increase or decrease in the repayment amount. This works well for business owners who run liquor stores since there are highs and lulls in sales. With a cash advance, you can keep shelves stocked with the trendiest beverage options, manage a dull season, hire new employees, renovate, expand your business, and repair equipment.
Mantis funding complaints are non-existent simply because their primary concern is to help business owners through a downswing and maintain their operations. With most alt-financing companies, there is a Chief Reconciliation Officer who will keep track of all the daily and weekly payments coming in. The officer will also evaluate the revenue to see if any adjustments are to be made.
Applications of Merchant Cash Advance for a Liquor Store The best thing about liquor stores is that they are recession-proof, meaning that the demand stays consistent irrespective of the market conditions with the added benefit of a high seasonal peak.
At the same time, liquor store owners need to provide an extensive product line, cater to different preferences, and also offer brands suitable for every kind of budget. This requires an expensive inventory, an understanding of the business model, and product knowledge.
Business owners can use a merchant cash advance to leverage and expand, run and expand their business. Mantis Funding LLC can finance liquor stores that want to grow or upgrade. This could include extra inventory, expanding the product range, taking the business online and investing in expensive imported liquor. The sure way of staying in the competition is by taking up some commercial real estate financing.
Mega liquor stores are the trend nowadays, and a merchant cash advance can help you stay in the game and get noticed. A cash advance can also be used as working capital that keeps the business running even when funds are low. The funds can be used to make insurance payments, renew licenses, stock up and carry out maintenance. Mantis funding complaints are impossible because of their game-changing formula to give a helping hand to keep your business up and running.