I Have Been Turned Down by Banks, How Can I Get Funds?

One of the major problems faced by small businesses all over the USA is bad or no credit scores. Traditional sources of funding such banks rely heavily on credit scores which give them an indication of the repaying capacity of the borrower. Unfortunately, for small businesses, a bad credit score often means they are turned down by banks and other financial institutions. However, there is hope yet for small business owners who have been turned down by banks. Companies such as Mantis Funding aim to bridge this gap and provide crucial funding for small businesses.

Challenges in Maintaining a Good Credit Score

The banking system is such that maintaining a good credit score is absolutely essential to be able to apply for funding from banking institutions. Many things go into maintaining a good credit score - your payment history, level of debt, credit age, mix of credit, and recent credit. Small businesses often find it difficult to maintain a positive score. Running a business involves various capital expenses such as adding inventory, regular repairs and maintenance, hiring staff, other bills, and taxes, etc. This means that small businesses end up not being able to make their payments on time which affects their credit score and access to funding.

Your Credit Score is No Longer A Problem

Since banks look at the credit history of the owner as well, funding applications of many small businesses get turned down. However, all these businesses have good business models and regular cash flows. Mantis Funding builds upon this factor to provide funding to small and mid-segment businesses that is often crucial for their survival and growth. Their funding process is not based on the credit score of either the business or the owner. Rather, they evaluate the revenue generated by the business - past as well as current revenues. This completely takes credit scores out of the equation.

Get Funds Immediately

When you need money, you need money. The paperwork and other formalities associated with banks and other financial institutions are so much that by the time everything gets processed and the funds get transferred to you, you are already in deep trouble and way past the requirement. With a Mantis Funding cash advance, you can get the funds within one to three days of your application being submitted, allowing you to use the funds as and when it is needed. Further, there are no restrictions on how you can utilize the funds.

How Does Mantis Funding Cash Advance Work?

A Mantis Funding cash advance caters to small and mid-segment businesses with short-term financial requirements. You will be asked to fill up and submit a short application along with documents showing your business revenue, such as your bank statements. There is no fee to apply for the cash advance. Once your business is approved and found to be eligible for a cash advance, the amount is immediately transferred to your business bank account.

If you feel your business needs a Mantis Funding cash advance, get in touch with a representative now!