What is a Cash Advance and How Does It Help?
If you’ve got yourself a small business, but an unexpected expense comes by, and your savings won’t cover it, what do you do? Well, you could go the traditional route, but it would mean showing a high credit score, wading through a lot of paperwork, and after all that… you may not even get the entire amount you need. This is when companies such as Mantis Funding LLC can help you get a merchant cash advance.
How Does a Merchant Cash Advance Work? Most often, small business owners rely on their credit cards to borrow some amount of money. The advance limit will depend on the credit limit of your card, one that you can’t cross. Since the money is borrowed in advance, the credit card company will usually charge high interest and fees on the amount. This can also affect your credit utilization percentage if you use too much of it.
With a merchant cash advance, you can borrow money and pay it back in increments through customer card payments. The funds are customized to your business and, therefore, adaptive in nature. Mantis Funding complaints are unheard of because the amount of cash you can get will depend on several factors such as average turnover and ability to repay. This process ensures that business owners are confident about making repayments.
Choosing the right alternative funding firm will be dependent on the circumstances, the volume of card transactions, and the requirements of your business. Suitable for a wide variety of businesses, it is the perfect solution for businesses that have few assets, a limited credit history but are able to show consistent growth.
What are the Advantages? The benefits of getting a cash advance from companies such as Mantis Funding LLC, is that the criteria for qualifying for funds are very simple and easy. Alt- financing firms are primarily interested in knowing if your business is capable of making repayments. Traditional financing firms usually abide by a cumbersome and lengthy process to get the application process rolling.
After that, the application will need to be reviewed and approved over several weeks. The entire process can be the death of a small business that is in need of quick emergency funds. A merchant cash advance, on the other hand, just takes a few days for the entire process and for the funds to reach your account. With a cash advance, you won’t have to stand in long queues and fill out a form in person. The entire process can be done online from the comfort of your home.
In addition to this, the repayments are automatically deducted based on the revenue percentage, and therefore, there is no need for excessive account monitoring. Alt-financing companies such as Mantis Funding LLC offers customer service through calls, chats, and emails, which are open at flexible hours, adding to your convenience. Finally, there are no restrictions on how the money is to be spent.
There are hardly any Mantis Funding complaints as their services are innovative, customized, and quick. To get funds for your business needs, get in touch with them right away.
Contact Us Mantis Funding 225 Clematis Street, West Palm Beach, Fl 33401 Email: info@mantisfunding.com Phone: 877-494-1499