I Want to Expand My Business, So I Need a Small Business Loan

1. I Want to Expand My Business, So I Need a Small Business Loan

2. When you started your business, you only offered a small number of product choices. They were all eco-friendly which was your business model required. To your delight, you found that there was a market for a store that sold only eco-friendly products. Though you built up a consistent and growing customer base, you found that many of your customers were requesting products that were made by certain manufacturers.

3. Some of your customers simply liked those products better while others wanted to purchase from a particular manufacturer because the product as made in your state and they wanted to support local businesses. You quickly realized the value of this not only to retain these customers but also from a marketing perspective. This, of course, requires that you contract with the new vendor and purchase more inventory. Though you set aside funds for your inventory and to expand it, you want to do it quickly before your customers find somewhere else to purchase these products. You need additional funding to do this. The question is, where do you go to get it?

4. Banks or Capital Funding Companies When you need more funds, your first thought is likely to turn to a bank. When you do, you quickly discover that even if they grant you the loan, you may not get the funding in the time frame you need. So where do you go next? Who will fund you quickly, especially for the small amount that you need? You don’t want to get locked into a predatory loan at a ridiculously high-interest rate. Fortunately for you, capital funding companies like Mantis Funding exist specifically to help businesses with the needs like yours.

5. As an added bonus, they will fund a business that hasn’t been in existence long enough to build up the credit rating a bank would require. They actually have entirely different criterion upon which they base their funding decision. Mantis Funding reviews your business and income and makes much of their decision off of that information. However, you should also make sure you understand that each company handles problems differently. To discover how the company you choose handles theirs, look up something like Mantis Funding complaints to find out for sure.

6. What Do They Look At? As an example, Mantis Funding reviews your revenue stream and your customer base. If your revenue is steady or growing and you have customers that return to you for their needs, you are on your way to meeting their requirements. One of the requirements is that you have to take credit or debit cards to accommodate the flexible repayment plans. You can repay the loan through your payment processor by having a percentage of your daily or monthly receipts go to pay your Mantis Funding cash advance. But the best news is that once the contracts are signed you get your funds within hours and you are on your way.