Merchant cash advances by companies such as Mantis Funding help small businesses to expand, stabilize, and thrive. It is especially useful for business owners who are low on working capital and need financial help in times of emergencies. Business finance lenders sometimes even make the money available on the same day which can be the difference between survival and closure for some companies.
2. Merchant cash advances by companies such
as Mantis Funding help small businesses to expand,
stabilize, and thrive. It is especially useful for
business owners who are low on working capital
and need financial help in times of
emergencies. Business finance lenders sometimes
even make the money available on the same day
which can be the difference between survival and
closure for some companies.
3. These lenders are often the only source of credit for
companies who are new and for those who have not
built up a credit history. A business will qualify for
merchant cash advances if they have a great business
expansion plan that is unbeatable.
The money lent is for the short term and a
percentage is cut from each transaction. The greater
the number of transactions in your business
enterprise, the quicker your ability to pay back
the cash advance.
5. The cash advances taken from lenders such
as Mantis Funding is used to pursue growth
opportunities or to increase inventory and
staff. Companies who experience seasonal spikes in
their volume of business also can do well with
merchant cash advances. The advance can be paid
back through the increased volume of sales during
the holiday or festive season.
6. Businesses that have a steady influx of customers who pay
through credit cards do well with cash advances. It is also
important to note that these lenders are not under any
government regulation and so you must choose to take
advances only from lenders with integrity.
The contract should be clear and above board and the
borrower must clearly understand what he is agreeing
to. They also must clearly be told of all the additional fees
they will be paying when they take the merchant cash
advance.
8. The application process is straightforward when you
take merchant cash advances from business finance
lenders such as Mantis Funding in West Palm
Beach. You can apply online too with bank and credit
card processing statements uploaded with the
application.
The rate of approvals is high and the money is
transferred quickly which makes this form of credit
very useful for small and medium business enterprises
that need money urgently.
9. They also offer flexible payment solutions which
makes it ideal for borrowers who have slow
seasons when their sales are not great and they
cannot make the regular payments. The borrowing
limits are also flexible depending on the
transaction statements of the business enterprise.
11. There are many lenders out in the market offering
merchant cash advances to those who need it. If your
business works all through the year and you have proof that
you can pay back the advance, you are eligible for a
merchant cash advance.
The decision to take the advance must be an informed
decision as it is a major financial commitment. Reviews
and testimonials must be taken from reliable websites as
well as from the people personally if required. The cost and
term rate of different lenders can be compared so you can
choose one that is most beneficial for you.
12. You can make inquiries about their business team,
their capabilities, and experience so that you know
exactly who you are dealing with. It is important to
speak to them personally and ask as many questions
as needed so you understand how professional they
are. Lenders such as Mantis Funding in West Palm
Beach who make strategic partnerships with their
clients is more likely to be trustworthy.