How Alternate Funding Can Help Your Liquor Store?

As the owner of a liquor store who is in need of funds, you may have reached out to a traditional banking facility. You may also be one of the many merchants who have been denied approval over and over again since banks look at liquor stores as a high-risk business. With companies such as Mantis Funding LLC, you won’t have to run from pillar to post to secure valuable funds.

 

Benefits of a Merchant Cash Advance

Alternate financing firms offer cash advances so you can buy new stock or hire new workers for your liquor store. But how exactly does it work and benefit a business? A merchant cash advance has flexible repayment terms that are based on a small percentage of future sales. The percentage of sales may change every day or on a monthly basis.

On the other hand, the holdback limit will not change throughout the repayment term, which means there is no set amount or term. As and when the revenue changes, there is an increase or decrease in the repayment amount. This works well for business owners who run liquor stores since there are highs and lulls in sales. With a cash advance, you can keep shelves stocked with the trendiest beverage options, manage a dull season, hire new employees, renovate, expand your business, and repair equipment.

Mantis funding complaints are non-existent simply because their primary concern is to help business owners through a downswing and maintain their operations. With most alt-financing companies, there is a Chief Reconciliation Officer who will keep track of all the daily and weekly payments coming in. The officer will also evaluate the revenue to see if any adjustments are to be made.

Applications of Merchant Cash Advance for a Liquor Store

The best thing about liquor stores is that they are recession-proof, meaning that the demand stays consistent irrespective of the market conditions with the added benefit of a high seasonal peak. At the same time, liquor store owners need to provide an extensive product line, cater to different preferences, and also offer brands suitable for every kind of budget. This requires an expensive inventory, an understanding of the business model, and product knowledge.

Business owners can use a merchant cash advance to leverage and expand, run and expand their business. Mantis Funding LLC can finance liquor stores that want to grow or upgrade. This could include extra inventory, expanding the product range, taking the business online and investing in expensive imported liquor. The sure way of staying in the competition is by taking up some commercial real estate financing. Mega liquor stores are the trend nowadays, and a merchant cash advance can help you stay in the game and get noticed.

A cash advance can also be used as working capital that keeps the business running even when funds are low. The funds can be used to make insurance payments, renew licenses, stock up and carry out maintenance.

Mantis funding complaints are impossible because of their game-changing formula to give a helping hand to keep your business up and running.

How Opting for Retail Store Financing Can Upscale Your Business?

Like others, retail businesses require funds to survive. Be it a sudden increase in payroll or purchase of a new item for the shelf, there is a high need for retail businesses to keep themselves on the toes. Also, the uncertainty surrounding the season cash-flow gap also looms large over the owner’s head.

However, the question is who will help the retail store owner? Perhaps, if the owners boast a high credit score along with heavy collaterals then, he has no problem in approaching the traditional channel. But what about those small and medium businesses who are struggling to maintain the standard criteria? Don’t they have the basic right to access funds?

Mantis Funding and other alt-fin firms have taken the responsibility to ensure that SME retailers don’t face any problem related to funds. With options like cash advance, they make sure that shopkeepers and restaurant owners are financially guarded to face any request or difficulty.

Besides, opting for Mantis Funding cash advance can be a really empowering option for the SME retailers. Firstly, it is not that hard to acquire. The approval process is very quick and the retailer has the luxury to utilize the funds the way he wants. Also, he can use it for business growth or expansion. Secondly, it is a cash advance provided in exchange for future credit or debit card sales. However, one has to be careful with their business because Mantis Funding Reviews each application carefully one by one. Though the application has no cost and the dealer has nothing to lose, but to gain one needs to consider these very important factors:

1. Business mode: For alt-fin firms like Mantis Funding, this is very important
2. Revenue Stream: Another factor that holds high importance. If they see high fluctuations in the revenue stream then it could lead to rejection
3. Transaction history: This represents a lot about your credibility. Hence, ensure it to keep it steady
4. Social Behavior: Your behavior with peers depicts a lot about your character and your pattern of dealing with executives.
5. Intent: Your intent regarding the funds and your vision to use it matters a lot to the alt-funders.

Also, the repayment scheme is very flexible and does not burden the retailer’s pocket. The deals are prepared in tandem with the retailer and the exact amount is provided. Unlike traditional channels, they have advanced AI/ML-powered fin-tech systems that work holistically to provide the funds within the space of 3-4 days. Moreover, if the requirement is urgent, the application and the funds are processed within a matter of 24 hours!

In case their clients face any problem with the deal or are having trouble contacting them, these firms have a dedicated system like that of Mantis Funding Reviews, which is constantly working to enhance the user experience. Besides, to know more about the alt-funder you are opting to deal, try visiting platforms like Yelp; the reviews on this platform provide you with a broader perspective about the firm and the way they work with their clients.

Unraveling the hidden enigma of APR behind the merchant cash advance service

There is no denying the fact that small and medium businesses require quick funds for varying purposes. These can include a prospect of expansion, reinventing the inventory, or even renovating the workplace.

What’s hard to see is the reluctance of traditional channels to help SME owners. Further, the current lockdown will only weaken the stand of SMEs in the market.

In these circumstances, there are only two options for an SME holder. One, he should turn to his reserves; however, this does not seem to be an appropriate option given the uncertainty over the lockdown. For that reason, one should turn to the second option, i.e., for services like that of Mantis Funding cash advance service.

As an SME owner, cash advance service is the best in cases where the need of the hour is quick cash. Due to its fast processing and flexible conditions, this service is often a small and medium business owner’s favorite to obtain some urgent and quick cash.

Nonetheless, there are several factors that catch SME owners by surprise. One of those factors is APR or the annual percentage rate. APR is responsible for the incoming capital of many small and medium businesses. Further, many funding firms do take advantage of your APR’s lack of knowledge and do not disclose the rate until you have signed the documents with them.

APR: The rate at which the merchant cash accumulates over the years is termed as an annual percentage rate or an APR.

Calculating an APR is little perplexing due to the fact that every funder has a different merchant cash structure. Making the APR different for every funder in the market.

However, APR can be calculated. APR is nothing but an interest rate charged along with some fees by the funder; thus, making the calculation clearer, provided that you know the rate and fees.

As a small or medium business owner, it is very crucial to have solid market research for the APR. This enables you to have an idea about the ongoing rate and the best offer you can get from different options. Besides, as a part of the market research, do opt for different channels like that of Mantis Funding complaints which will give you a better idea regarding the same. Thus, helping you to make better decisions.

Apart from the cost, the term of the repayment also plays a pivoting part in the formation of APR. You may tend to contemplate that a merchant cash advance service might have more fees, and, due to that, it may turn out that this offer is not your first choice. However, when you see the role of in this offer APR, then you will realize that when the offer is spread over the years, it turns out to be a wise and better choice in comparison to what other traditional counterparts were offering.

However, it is good to read a few articles about the service and APR as a whole. Given the fact that APR can be calculated effectively, one can say that this service is not that a big factor. It is just word of mouth that people tend to fret over something that is right in front of us. Besides, reading a few columns on-site like Mantis Funding cash advance can clear the confusion regarding merchant cash advance and estimate and APR.

How is Alt-funding Appropriate for Small & Medium Enterprises?

The post-recession phase has been very hard for many small and medium enterprises. The fact that traditional funding channels have tightened their ever rigid regulations has made it all the more difficult for SMEs to fetch funds for their venture’s growth.

Besides, there is no hidden secret to the fact that small and medium-sized enterprises (SMEs) come up against bigger financial hurdles because of their lack of credit history. To add insult to injury, the traditional channels need substantial collateral along with a good credit score, if they are to approve an application.

For this reason, it comes as no surprise that about 80% of traditional funding applications of small and medium enterprise owners are rejected. Seeing these stats, one thing is bound to cross the mind and, that is, who will fund these SMEs given that traditional channels are so reluctant in their nature? Should these SME owners wait for their application to get rejected while letting a chance slip away from their hands?

We all know that today’s market is very time-sensitive. Thus, proving that depending solely on the traditional channels is a mistake. And for this reason, the market has seen the growth of alt-fin firms like Mantis Funding. These firms are a better, smarter and sharper way of elevating SME’s growth to the next level.

However, is it right for small and medium enterprises to associate themselves with these firms? This is a question which we will answer today! 

These firms understand the time-crunch an owner faces:

Time is gold and gold is not to be sold! Any person sitting at the pinnacle of the industry will never neglect time as a factor for his success. Yet, somehow, traditional channels are still working with their etymological time-consuming way to process an application. They don’t really buy the proposition of an SME getting once in a lifetime opportunity to capture its respective market. They will look for their credit score and collaterals before approving any application.

This itself is kind of frustrating. And, firms like Mantis Funding have worked pretty hard to solve this problem. They disburse the funds within two business days and sometimes, in case of real urgency, they do it within 24 hours of the approval! Certainly, in doing so, they give the owner the opportunity he needs to acquire or upgrade the way he wants.

These firms prevent the owner from nasty debt:

The last thing an SME owner wants is to get stuck with debt over his head. Debt is a pretty vicious financial weapon. On one hand, it takes away all the hard-earned money and leaves the owner with minimum opportunity to save funds for future endeavors. And, on the other, it worsens his credit score, which tends to play a defining role in getting his application rejected when he is seeking funds from traditional channels.

The best thing to dodge this nasty application dent is to opt for alt-fin firms. Firms like Mantis Funding reviews an applicant’s application on his past bank records instead of digging into their credit history.

Hassle-free documentation:

Last but not the least, these firms have an AI/ML backed application system that removes the tedious and arduous process of documentation. For instance, Mantis Funding reviews applications promptly and its documentation process is basically a matter of a few hours.

How Will SMEs Grow With Alternative Financing Industry

If the last decade saw the alternative financing firms become the new face of SME support system, the upcoming decade will see an onset in the economic system where the center of focus will be on the development of small and medium cap enterprises. What's exciting is that this upcoming decade is going to bring a lot of hope for the SMEs in terms of refueling their business with accessible cash flow for the venture's growth. Let's look a little deeper to enhance our understanding of the aforementioned statements.

What Are The Key Areas?

Before delving deeper into the alt-fin sector, it is important for a businessman to understand the key operational areas of this sector. This includes credit risk, documentation, collection servicing, underwriting, approval of decision making, and many more things.

However, the upcoming decade will see automation at a very high level, and the same is going to affect the cash flow in SMEs positively. Funding firms like Mantis Funding have started to work towards the same for SMEs by providing accessible cash flow through faster credit disbursals.

System of Online Application 

No wonder this aspect is already placed well into the system. However, the upcoming decade of this financing sector will sport an online application system that will allow its users to submit their requests for financing. These forms will be customized especially for the clients and the services they want to opt for.

Evaluation of Risk 

Alt-financing firms like Mantis Funding review each application without taking credit score into consideration. This kind of flexibility is hard to find in traditional channels that are constantly working to reduce risk. However, with the use of artificial intelligence and machine learning, the alt-finance industry is advancing the automation process to another level. Using data points such as social standings, utility bills, recent bank statements, etc. help them to access the risk much better than their traditional counterparts.

Communication

Well, a decade ago, the traditional way of getting in touch with the lender was to either call them or email them to know the application status. Due to this, most of the time, the application would take days to get approved, and worse, if it was rejected, the applicant would not get to know the status for a week or two. This created a lot of problems for businessmen who were seeking quick funds.

However, firms like Mantis Funding understood this problem and stepped up their game with the help of artificial intelligence and machine learning. Due to this high automation, the applicants are able to access the processing portals that are specially customized for them. These portals provide them with real-time details of their application. There are many areas that are positively transformed after the introduction of the automation process in this sector. Some of them are payment alerts, digital statements, credit updates, and other key aspects of the application and funding portal. Moreover, with the increase in demand, the only way for this sector with AI/ML is upwards with customer satisfaction as its major achievement.