Don’t you dream of putting your small business on the map where you are neck-to-neck with big-league players? However, the regular financial issue keeps your dream at bay.
Like you, I am also a small business owner in New York. I own a nightclub. Being a young and impulsive person, I decided to open it unknown to the challenges I was going to face. First, the challenge I faced was finding the place. Next was the payroll of the staff, and the biggest was the traffic and upgrading of my nightclub.
When compounded together, things started to go south. My expenditure was greater than my income. This was when I realized that without substantial financial resources, you could not succeed in business.
I approached traditional channels like banks, waited endless hours, and spilled much ink to fill the information in the documents. After multiple rounds and days, they politely declined me because my credit score was well-below the required. Besides, my collaterals were not good enough to convince and satisfy the funders. I needed real quick help, but every time I approached someone, I ended up in a blind spot.
However, sometimes things do turn out to be in your favor. My friend introduced me to Mantis Funding and its options like that of Mantis Funding Cash Advance, which was easily accessible. Mantis trusted me when no one else did. They listened to my business model and provided me with funds when everything was on the line. Besides, they modeled a repayment structure that was flexible and was easy on my pocket. Indeed, funding and a good funder play a crucial role in your business growth.
So, for people like me or those who are looking for funding. Here are a few things that I learned, while working with Mantis Funding, which could help you in your financial problems:
What are the eligibility criteria forMantis Funding Cash Advance? As I mentioned, the answer is your own business model. The more versatile you can make it, the better it is for you. Alt-financiers like them look for an all-round revenue stream.
According to Mantis Funding Complaints, here are few things that could stand against your and your funding:
- Your framework cost is too high
- You are using more assets than you should
- Your extended timeframe is resulting in a lower net revenue
What you should do to get approval:
- Focus on keeping your business model consistent with an objective to develop.
- It should provide an innovative edge to your plan.
- Keep a good track of your transaction history, expense pattern, and similar factors.
In doing so, one can guarantee that you are eligible for their option of Cash Advance.
Having clear plans pays long-term dividends not only in getting approval but also in profit generation.
Here are a few things that you should follow while approaching them:
- Keep transparency, don’t try to hide anything
- Be clear about what you want from them
- Specify your applied amount in exact figures
- Give proper details of your dealings in the market. This may include how long you have been operating
- Specify how you wish to use the funding with your future goal
- How do you intend to regulate your average revenue
- What you expect from them to include in your repayment plan
All this helps them to understand your and your needs. This gives them a clear idea of what you intend to do in the future. Besides, if you face any issue, you can contact their support team on Mantis Funding Complaints.