What Is a Business Owner to Do When They Need Funding?

1. What Is a Business Owner to Do When They Need Funding?

2. The challenges of a small business in many ways are not much different than the challenges of large business. The main difference is that small businesses have fewer resources to resort to when they need a fast infusion of funds. Many factors can cause the need for cash, even if it is just a few thousand dollars. Regulations can change, suppliers can raise their prices, equipment may need to be replaced or upgraded and any of these situations can require additional capital that you may not have planned for.

3. If this happens, business owners need funds and they need them quickly. A business could go to a bank but the bank may not be willing to give you just a few thousand dollars. The process to get the loan, should the bank agree to it, takes time. This is the time that the business owner may not have. This is where capital funding companies come into play.

4. What Can a Capital Funding Company Do?

5. Capital funding companies exist for just this type of situation. They are able to provide funds to small and micro businesses in a very short period of time, sometimes in less than a week. A capital funding company like Mantis Funding reviews all aspects of your business. They look at your revenue stream, your business model, how you handle your revenue, what you do to reinvest in your company and your customer base.

6. Once they have reviewed your business they will decide if you represent a good risk for a Mantis Funding cash advance. If you are accepted, they will work out the repayment terms with you and once the contracts are signed, they deposit the funds in your bank account within hours. The business owner is then back in business with the funds they need to continue to operate.

7. How Does It Get Repaid?

8. Mantis Funding, for example, has various flexible repayment options. Once they have reviewed your business and your revenue stream they will have an idea of the repayment method that works best for you. Your funding, will, of course, be distributed with a certain interest rate. You will know the amount you will owe them, and the payments will be worked out accordingly. Just take a moment to consider any Mantis Funding complaints so you can be sure you like the company’s approach, no matter which company you choose.

9. Businesses usually take plastic these days and since they do, they have a payment processor. The payment processor takes the risk of credit card information from the small business but also provides a settlement file so you can compare your sales receipts with the amount they charged the customer. The funds are then placed in your account. One way to repay your loan is to have the payment processor take a percentage of your receipts and pay the funding company as well. This leaves you with little to do but review the settlement to ensure it was paid.