Minimum Formalities For Cash Advances By Business Finance Lenders
Merchant and business cash advances are given by business finance lenders such as Mantis Funding. The borrower agrees to pay a percentage of future sales and the transaction is made quickly. There is minimal documentation and other formalities to be completed as they realize how critical the time factor is. This is usually a quick solution and repayment begins almost immediately.
Cash advances are taken when there is a shortage of working capital and the business owner is unable to finance his expansion plans. Once the advance is given, the lender takes the agreed-upon percentage of daily sales. There is usually an agreement between the lender and the payments provider so that he is able to keep track of daily revenue and ensure he gets his percentage correctly.
Pros Of Borrowing From Business Finance Lenders
The advantage of borrowing from financiers such as Mantis Funding is that there is no fixed payment to be made every month. A percentage of the sales amount is paid daily irrespective of the number of sales. The borrower is not worried if the sales amount dips on a given day and there is no pressure on him to keep aside a certain amount every day.
Merchant cash advances are used to finance different types of future sales such as credit card sales. Credit card sales are really easy to keep track of. The amount of funding to be made to the borrower is based on bank statements as well as past and present credit card transactions.
Choosing The Right Business Finance Lender
Borrowing money from financial institutions can be rather risky especially if you end up in the clutches of an unscrupulous lender. Your lender should ideally have sufficient financial means to meet all your financial needs. Otherwise, this may result in you having to borrow from different lenders and having to pay back various types of debts. The lending terms under which the fund is given should ideally be flexible and within your capability so that you are able to comfortably meet repayment conditions.
The lender should have a good reputation and the feedback from borrowers should accentuate their positive experience with the lender. Mantis Funding reviews are all upbeat and speak of the help this company has provided in the growth of many small businesses. They also speak of a painless application process and the help rendered at critical times.
Professionals from Mantis Funding To The Rescue Of Small Businesses
Mantis Funding reviews also speak of the professionals who helped ensure that the whole process was quick and efficient. The talented team that works at this financial institution is responsible for forging strategic partnerships and providing efficient working capital solutions to their borrowers. The use of the latest tools and technology also ensures that it is easy to keep track of all lending and repayments.
The professionals who work here come from varied backgrounds so that it is easy for them to understand the business and provide the best funding solution to them. They are also extremely trustworthy and well experienced. They understand the importance of the time factor in giving a cash advance and also the need to inform the borrower of any lending limits that exist in their organization. They normally offer their borrowers a variety of flexible lending terms that will best suit their method of business.