Benefits of Using Cash Advance Finance Solution to Meet Payroll Obligations

1. Benefits of Using Cash Advance Finance Solution to Meet Payroll Obligations

2. What do you do when you need to fulfill payroll obligations but don’t have enough working capital? If you want to avoid the wrath of angry employees and the prospect of government regulators breathing down your neck, a quick and easy merchant cash advance from Mantis Funding could be the sensible solution.

3. Causes for Cash Flow Disruptions There are many situations where you could be unable to meet payroll obligations even if your business is doing reasonably well. You may be facing short-term cash shortage – for example, when you’re paying for a large, unexpected expense such as equipment repair. Cash flow may not be smooth if you’re running a seasonal business

4. You may find yourself short of cash during the lean season when you don’t have many sales or customers. As a small business owner, you may have to wait for invoice payment by customers. All these situations can force you to seek a quick working capital funding solution.

5. Explore Various Financing Options For meeting payroll obligations, business owners have several financing options. Business owners may consider taking short term funds from a bank but the process can be challenging. When considering applications, banks usually look for high personal credit scores as main criteria for approval.

6. If you don’t have a high credit score, you may not be eligible for funds from a bank. The process of approval may take several days or weeks. Also, they usually carry very high-cost terms, so you have to think really hard before applying for it.

7. Why Merchant Cash Advance? Mantis Funding offers an alternative working capital funding solution – merchant cash advance. To avail a cash advance, customers do not need to have a high personal credit score. Instead, customers need to provide proof of consistent sales over a period of a few months. Factors such as business model, products/services being sold and customer base are taken into account to evaluate working capital funding eligibility.

8. Depending on needs, customers can apply for a large amount or a small amount. Repayments are done on a periodic basis with a certain percentage of future receivables until the entire amount and applicable charges are paid back.

9. Fast Approvals and Fund Availability After receiving business information and documentation, Mantis Funding reviews a customer’s application carefully but swiftly to evaluate eligibility. The company has connections with many cash advance lending sources and matches customers with suitable funding sources. It acts as a facilitator and makes an offer for proposed financing. A customer can review the offer and if he or she agrees to the terms, accept the offer.

10. Once the offer is accepted, funds are quickly transferred into the customer’s business bank account. The entire process can be completed within a day or two, leaving business owners with a quick infusion of cash to fulfill payroll obligations.

11. Whether you’re applying for bank funding or cash advance, you should research the funding provider before making a commitment. For reassurance and peace of mind, check out Mantis Funding reviews online!