For companies in need of additional funding, a merchant cash advance may provide vital financial liquidity. One top financier that provides merchant cash advance is Mantis Funding LLC. A merchant cash advance involves a funder purchasing a percentage of your potential credit card purchases in exchange for a lump sum payment. Unfortunately, certain merchant cash advance applications are turned down for a variety of reasons.
Don't worry if you weren't accepted for a merchant cash advance; you're not alone. Many merchant cash advance lenders carefully examine all applications. They also take into account your credit card purchases, total monthly sales, and other financial considerations. You would not be eligible for a merchant cash advance if you do not meet their criteria. Regardless, don't be discouraged by a rejection message! Nobody enjoys being turned down. There are, however, measures you may take to improve the odds of receiving a potential cash advance. Let's look at how you can improve your chances of having your next merchant cash advance approved. Ask the Funder Why You Were Rejected Do you have any idea why your application was turned down? Direct your question to the merchant cash advance provider through which you applied. Many merchant cash advance firms such as Mantis Funding LLC can explain why your application was turned down. You will be able to resolve their issues in the future if you knew what their concerns were. This is the one of the reasons why you don’t see much of Mantis Funding complaints regarding the applications. Wait Until You Receive More Credit Card Payments A merchant cash advance funder such as Mantis Funding LLC is a company that buys a percentage of your potential credit card purchases for a fixed period of time. As a result, funders scrutinize the present and previous credit card sales carefully. If you don't currently make a lot of credit card sales, a funder can be hesitant to give you a cash advance. Double Check Your Application We understand that as a business owner you're always on the move. Since you're juggling too many things at once, you may be more prone to making basic errors on your application. Even so, it's very important to pay attention to every detail on your submission. You may be disqualified if you forget to provide important information or include inaccurate figures. This is primarily why you won’t hear of Mantis Funding complaints since they take their job seriously. Refine Your Application Got a rejection? Don’t worry! You could look at it as a constructive learning experience. This will help you boost your chances of potential success by understanding why you were denied and how you can improve your application. If you've been turned down by one funder, that doesn't mean you should give up. Instead, apply for a cash advance once again with proper information. You'll be able to refine your application as you learn from your mistakes and gain a better understanding of the approval process. You'll have a better chance of succeeding if you do this. Finally, keep in mind that being rejected isn't the end of the universe. Since merchant cash advances can be excellent sources of financing, be cautious when applying for one so that you have a better chance of being accepted the next time.
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Globalization has changed the very nature of business. With advances in e-commerce and technology, consumers can now shop from anywhere in the world sitting in their homes. Online shopping is becoming increasingly popular as it is quick, convenient and affordable. However, this makes it quite tough for a small to mid-sized retail store to stay in business and function smoothly. Many retail outlets have opted to apply for a Mantis Funding cash advance so they can find ways to stay ahead of the competition. Let’s take a look at how a merchant cash advance can help.
Mantis Funding LLC has been in the business of matching small businesses with the best merchant cash advance deals in the market. Their goal has always been to help small businesses find the funding they need to succeed in the market. Mantis Funding understands how important it is to receive timely funds, and this is why applications are approved in as quickly as 3 days! Given below are some more advantages of using a Mantis Funding cash advance.
Apply for cash advances easily The company has a very simple application process. All you have to do is fill out the necessary details in the application form that is available on the website. Once you have entered your details, it is verified by experts, and once approved, the amount is directly deposited into your account. This process takes less than a week! Still skeptical? Read through the many Mantis Funding reviews that have been published to rid yourself of any doubt. Use the cash advance as you see fit Conventional financial institutions such as banks often place restrictions on how you can use their funds. On the other hand, Mantis Funding understands that running a business brings about multiple needs for capital. They believe that the many capital needs of running a small business should be met, at the right time, for the best results. This is why they do not restrict business owners from using the cash advance procured as they best see fit. There is no need for collateral Banks and other institutions require collateral in order to approve a cash advance. However, Mantis Funding LLC caters to the special needs of small businesses and is willing to offer funding without placing your valuable assets at risk. This is why they offer cash advances without collateral. All you will be required to furnish is a bank statement of the sales in the previous month. Cash advances not based on credit scores If a bad credit score is what is keeping you from obtaining additional funds, then Mantis Funding is where you should head to. Their cash advances are not based on credit scores but based on the future sales of the business. The statement of sales that you submit when you apply is used to make an estimation of the expected sales. It is based on this estimation that the cash advance is handed out. A worry-free repayment model Conventionally, repayment of cash advances is made in a periodic manner. This can prove to be difficult, especially when it has been a slow season for sales. Mantis Funding cash advances are repaid with every sale made. A percentage of every sale made is directly routed to the repayment of the cash advance. You won’t have to worry about repayments anymore! Many business owners have published Mantis Funding reviews praising this repayment model that allows them to focus on business development and not worry about repayment. If you would like to find out more details, get in touch with Mantis Funding LLC. The spread of Covid-19 is horrifying, and the speed by which it is multiplying is a big cause of concern. The thing which was highlighted as an outbreak has taken the form of a global pandemic. A virus that threatened the city of Wuhan, is now knocking every door in the world. Besides, the schools, shopping malls, factories, and many such public places have been shut as a part of precaution. Employees are advised to work from home until further notice, and the government along with their doctors are devising a way to search an antidote to fight this pandemic. Seeing all this is disheartening. However, the plight of the freefalling market is more daunting to see. Be it an economist or a normal investor, you can certainly feel for the owner and his employees. Firms are registering a loss in the current market and one cannot predict the period of respite seeing the current spread of the virus. Nonetheless, there is someone working behind the scenes to support these SMEs and their owners. Alt-fin firms like Mantis Funding are constantly looking to find new ways in which they can help businesses to maintain their rhythm in this global crisis, given when there is uncertainty regarding the duration of the crisis. These firms understand the pressure on an SME owner of keeping things afloat. So, here are a few ways in which you can work out the common issues raised by the spread of this pandemic Build your Online PresenceThis is certainly the right time to do this. Perhaps, collaborating with a digital marketing firm will apt to smoothen your digital activity. However, considering the current market scenario, seeking help from an alt-fin firm like Mantis Funding might ensure that a cash crunch does not block your growth. Maintain the flow of capital Without a doubt, the effects of this pandemic are straining the capital flow. Further, there are many SME affairs like making payments to different merchants, making payrolls, and maintaining or upgrading inventory which requires hefty funds. Given the fact that the market is down at the moment, opting for alt-fin firms like Mantis Funding for these aspects might keep your business afloat. Use the extra cash to sanitize your workplaceThe protection of your employees is and should be a priority for you. Seeing the rising frequency of Covid-19 cases in the world, it is best to sanitize your office. Given the urgency of the situation, firms like Mantis Funding review applications as early as possible. Keep an eye on the future for growthAs SMEs, it is important to plan ahead of the future, especially during the current circumstances.
So instead of fretting about things today, you should try to focus on the future. No matter what the duration, things will stabilize in due course, and the fallen market will stand again. Hence, try devising a good offline and online strategy. Try finding out what new products or workforce you can add to complement today's loss. Try figuring out the amount for the same and consult an alt-fin firm like Mantis Funding, who can devise better ways for you to manage your funds. Even the most mundane of businesses don’t remain constant, the pace of change might be slow, but it is constant. In fact, with new digital technologies, most industries evolve very quickly – every couple of years, we see a further disruption that upturns the existing processes completely. I own a manufacturing business that supplies dental implants. Now it might seem like a stable sector, but we have had our share of transformation too. The biggest game-changer has been, of course, digital technology and the Internet. It has touched every part of the business – naturally, the manufacturing technology has evolved, but along with that, we have seen digital technology incorporated areas such as supply chains, testing, auditing, and, of course, marketing. To keep my company in step with these changes, I chose to use alternative financing like Mantis Funding cash advances. I used cash advances in diverse ways to help my business. While I naturally used timely cash injections to help me through low-season cash flow troubles, the biggest impact of these funding offers was felt when I invested them in growth. Here is a brief overview of how I used Mantis Funding cash advances to keep my business a step ahead of my rivals – Networking : Keeping in touch with peers, clients, and other industry stakeholders is critical for a B2B company like mine. In our business, especially because one is selling within in small ecosystem of companies and clients, reputation and relationships are vital for drumming up new business. I used Mantis Funding cash advances to extend my networking farther afield. I usually attended seminars and events in the US, but with extra liquidity this year, I attended events in Germany, UK, and China. Customer Engagement : No one can tell you what the customer needs better than the customer himself! In the last couple of years, I have invested a lot in trying to understand what my clients are looking for. I used chatbots, research agencies, hosted meet-and-greets, and traveled extensively to meet existing clients to keep my finger on the pulse of the business. All this was funded with the help of Mantis Funding cash advances. Digital Marketing : Even though my company was not selling directly to people in their homes, our clients are still looking for us online. I already had a business website, but that’s just a calling card! To maintain an impeccable online presence, every business – even B2B ones – needs content marketing, reputation management, digital advertising campaigns, and a social media presence. Posting on Facebook or Instagram might be free, but anything beyond that costs money. Here again, funding from Mantis came in handy and allowed me to invest in a 360° digital media presence. Updating Equipment And Hiring Fresh Talent : Tracking and catching trends is not enough; you have to adopt them quickly to leverage them effectively. In a manufacturing concern updating the equipment is a costly but vital requirement to keep the business up-to-date. However, along with new technology, one must also hire skilled workers or train existing ones to get the full benefit of industry innovations. It takes a bit of time till your upgrades start churning out profits and during these lean months Mantis Funding cash advances helped out immensely. Ultimately : Alternative lenders like Mantis Funding have made it easy to access capital at reasonable rates. But what you do with the money is up to you. I would urge all small business owners to think for the long-term and use alt-funding sources smartly to grow their businesses. Don't waste this accessible source of funding on just staying afloat - plan smartly and do MORE! I have absolutely no Mantis Funding complaints and can recommend them unequivocally – they are fast, fair, and very helpful. Do give them call!
Best of Luck The landscape of the finance industry is changing. There was a time when a small or medium cap businessmen had to bear with the tantrums of traditional funders. However, due to their tight purse strings, which opened far too less and infrequently for those with great credit scores, gave way for alt-financiers like Mantis Funding who understood the problems of SMEs. Further, the alt-financiers take note of the fact that SMEs are time-sensitive and need immediate funds to run their business smoothly. This is also a reason why opting for alternative financier makes more sense instead of a traditional one. Apart from that, there are more services provided by companies such as Mantis Funding making them a smarter and better option for a businessman to opt for over a traditional funder. Nevertheless, to clear the air, here are a few reasons why this is the right decision for a business:They know the needs are time-sensitive Time is money and money is business! As a businessman, one cannot afford to blind sight themselves to an idea or opportunity. These growth opportunities do not present themselves twice. Hence, a businessman needs to be aware of the tiniest possibility which could, possibly, a way to capture the market; however, for that funds are needed. And, what if the funds are needed urgently? Traditional financiers won’t approve the request that fast; so where to go? In such a case alt-financing firms like Mantis Funding help in disbursing funds that too within two days. If there is more urgency, they consider it a special case and can fast track the application approval to 4 hours! Indeed they do. Thus, preventing the pain of getting caught in the waiting section. Prevents the SMEs from the brutal loop of toxic debt The last thing for SME to worry about is their credit score. The credit score is a roadblock in the way of SMEs to expand and grow. The worst part is that this credit score is the basis for receiving any kind of funding from the banks. Thus, the pressure to maintain a good credit score takes a toll on the growth and creates a brutal loop of toxic debt around future growth. Nevertheless, the presence of alternative financing firms like Mantis Funding has saved many SMEs across the country from this loop. The best thing about these firms is that they review a businessman’s application for funds without needing their credit score! Fast and efficient documentation There is no hiding the fact that documentation with traditional banks is long and arduous. The wait seems like an eternity and documentation endless. And opportunities don’t see all this, they come in a flash, a businessman needs to pounce on it like a predator to turn the market on its head. However, the documentation of traditional funders does & provide space for such arrangements and no one wants to lose these chances. So what should they do? This is where alt-financing firms come into the scene. They value the time of their client. For example, firms like Mantis Funding reviews funding applications quickly, and their documentation process is super-fast. From being the last option to a primary choice, alt-funding has traveled a long way. Further, it is becoming a safe and reliable option for many businesses to grow and expand.
If you are a small business owner in need of capital, then the chances are that you have heard about alternative lending. In fact, you probably have TOO much information by now about alt-lending. Even a simple Google search tends to spew out a whole bunch of sponsored content, all of which can end up confusing you further. Let us cut through the clutter and get to the heart of the matter – how to find and select the right lender with the right financing deal for your business. You will have to check for some basics - Does The Alt-Lender In Question Offer Flexibility?One of the most important benefits of alternative funding deals is the extreme personalization most companies offer. They are not bound by federal banking laws and can pretty much set their own terms. For example, Mantis Funding, which operates out of New York, offers considerable reductions and changes to its terms to oblige its clients. While talking to an alternative lender, do try to understand how accommodating it is. Is it willing to negotiate on terms, rates, and amounts? If yes, then it should certainly make it into your shortlist Do Others In Your Industry Recommend It? Each industry has its own challenges and needs, and it is usually best to find alternative financing companies that serve businesses similar to yours. This will ensure that their offers will already be customized to your specific needs and that they will have enough understanding of the industry to give you the best deal. Reach out to industry forums or groups to get recommendations or to check up on certain alternative lenders. Does The Company Have A Good Reputation? When government regulations can't be implemented, then it is best to deal with the most reputable lender in the industry. You don't want to sign up with a dodgy company and get stuck for years in a bad credit situation. Checking for online reviews and looking for word of mouth referrals are two great ways to understand the real operations of a company. For example, the alternative lender Mantis Funding has reviews that are uniformly good across several social media and other online forums. Positive reviews across diverse sources signal genuine feedback. Does It Have A Simple Approval Process?One of the most attractive features of the alt-fin industry is the ease of getting funding. You want to be sure that the financing company you select offers all the speed and simplicity associated with the sector. For instance, Mantis Funding reviews its applications in a very balanced manner, which doesn't just stop at FICO scores but goes on to consider business transactional data such as monthly and annual revenue and expense patterns. Like most alt-lenders, Mantis Funding also processes the whole deal –including approval – in just a couple of business days. Chat with company representatives to find out the exact documents, rates, and timelines. Most have extremely helpful case managers who guide you through the entire process. A pleasant and helpful customer care executive could give you an inkling about the culture of the company. Conclusion: For most SMEs, funding is not a one-time affair. You will need liquidity time and again as your business goes through its development phases. Finding a trustworthy and helpful financing partner in the first go is an excellent way to secure long-term access to capital. So, please don’t rush and don’t wait till you need money to start looking around. Begin your search now!
An important lesson for small businesses is that it is easier to get funding when the company is doing well and has a better credit history than to wait when faced with financial challenges. Mantis funding complaints also advise business owners to look out for certain warning signs that can mean that more funding may be required in the coming future. Problems With Cash Flow and InventoryGood business owners keep track and monitor their cash flow on a daily basis. Identifying a downward trend early on can help them act quickly. Impulsive spending, overestimation of sale volumes and not maintain cash reserves can result in cash flow issues. By being able to forecast monetary goals, business owners will realize that additional financing from Mantis funding in New York is absolutely necessary. The price of materials, machinery, and supplies can rise at any time leaving you unable to purchase an adequate amount of them which can affect production. Paying close attention to market fluctuations, changes in industry policies can help business owners decide whether they need to cut down on costs in other areas or apply for a cash advance. Recession and Inability To Make Payments Sometimes the economy can fall and lead to a recession. Getting a cash advance during this time can prove to be a struggle, with financial institutions tightening their purses. Small business owners must be aware of these economic changes and plan to apply for financial help earlier in advance when lending is an easier affair. Very often business owners face problems with payments that aren’t made in time by customers. Customers may delay the payment which will leave the entrepreneur short and create a gap between credits and payments. Mantis funding customer service offers additional funds or a capital funds that will help prevent any damage to your credit and ensure payments are cleared on time. Changes In Business Growth Sometimes the growth of a business will suddenly accelerate requiring you to invest in a larger location, more manpower, better equipment and an increase in materials. This sudden expansion can be a smoother process if business owners have financial backing in order to manage and succeed. Businesses always change and grow through transitions. It could be the introduction of a new service or product, reinvention, opening of a second branch or starting a franchise. All this requires careful planning and budgeting which vastly depends on additional finances. The success of certain businesses depends on cycles or seasons. There are times of immense peaks and quiet lulls. Mantis funding helps small business owners to monitor and understand these changes and apply for funds that will come in handy during the lean periods and help to manage increased traffic in peak season. This is a great way to stay ahead of the game and ensure the business operations are never interrupted. Planning, foresight, strategy and deep understanding of the market all help small business owners to apply for funds at the best possible time and at the best possible rates.
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