Mantis Funding Cash Advances Against Business Revenue
Mantis Funding provides merchant cash advances. They deal with small businesses whose income is generated through debit and credit card sales. Mantis funding cash advances are made upfront in return for a slice of their future income until the debt is repaid. The repayment can be done from your future sales or as daily or weekly payments from your bank account known as automated clearing house withdrawals. The factor rate of your business is based on the risk assessment made by Mantis Funding executives. The greater the risk the greater the fees that you have to pay.
Quick Dispersal of Cash Advances by Mantis Funding Company
Mantis funding cash advances are only given to established small businesses who need money to finance their expansion plans or other growth plans. They are not generally given to start ups. This is because the business revenue that comes in to the company is very important to determine their repayment plans. The greater the volume of their business, the sooner they will be able to pay back their advances. Despite the fact that merchant cash advances are more expensive, most business owners prefer to go this route because it is so quick. Cash advances are approved in less than a week without the need of umpteen paperwork. Mantis Funding only needs to know the details of the daily credit card income of the business organization.
Personal Guarantee for Repayment of Merchant Cash Advances
Merchant cash advances given by Mantis Funding LLC do not need any collateral, however, they may require a personal guarantee from the business owner making him liable to make the repayment in the event that his business fails. An agreement is made between Mantis Funding and the borrower before the cash advance is given wherein they decide on the advance, payback and hold back amount as well as the terms of the advance. A percentage of the daily credit card receipts is held back to pay back the merchant cash advance. This is in lieu of the collateral that is not required by Mantis Funding.
Reasons for Funding From Mantis Funding LLC
Obtaining merchant cash advances from Mantis Funding LLC is suitable for your business enterprise if your credit score is not great but you want money quickly to take advantage of a business opportunity. The business owner has to understand that it is an advance against future payments from his business income. The funds are received quickly once the application is made and the repayment also starts immediately. Repayment is flexible and dependent on the volume of your sales. Business owners should do their research so that they only deal with ethical companies such as Mantis Funding who can provide them with exclusive funding solutions.