Role of Alternative Funding Institutions in Delivering Quick Funding to SMEs

Quick funding, what does this term signify? By definition, the type of transaction when a financial institution processes the funding transactions within a matter of 3-4 days is called quick funding. However, when it comes to sentiments, it means helping owners at their moment of crisis. 

Perhaps, it is fair to say that traditional channels only understood the bookish definition of quick funding. They never tried to understand why the SME owner was visiting them. For them, the only measure of creditworthiness of an applicant was his/her high credit score. Also, heavy collateral is another thing that they search for in the application. The lack of either of them or both could lead to a definite rejection. Had they understood the dilemma SMEs face, they would have altered their policies for the betterment of small and medium enterprises.

However, their failure was turned into an opportunity by a new financial wing. The rise of alt-fin institutions has surprised many. What they have done is commendable and astonishing. They have revitalized the market and helped numerous small and medium enterprises with their funding options like that of Mantis Funding Cash Advance. Besides, they understood and worked to cover the bridge that was created by the traditional channels. Their way of quick funding depends on their motto of:

Opportunities are rare, and one should take them.

Hence,they have cleared the restrictions that once held the SMEs. Not taking credit score or collaterals as a part of their consideration for an approval is a testament to the same. To ensure that they are open to all, they have developed a holistic system that works to deliver quick funding.

This system comes at the back of their understanding that they have developed over the years of hard work. Their extensive research allowed them to gain an insight over how a lack of quick access to working capital can deny SME owners a chance to stand in the market. Besides, they understood that the supply of instant cash through Mantis Funding Cash Advance or other financial options smoothens the working capital and stabilizes the condition of the SMEs. 

Additionally, they also worked to provide a section where users can find authentic reviews and contact the support, in case they find any difficulties with the funding options. However, in a crowded market, it is hard to find an adequate solution or a firm. Some offers can be blindfolding. Hence, it is pretty easy to fall for a dishonest dealer.

Moreover, some firms dictate their terms instead of seeking what the applicant wants from them. Perhaps, a little relaxation in the repayment scheme or an increased capital width could do wonders for the businessman. Hence, it becomes crucial to work with firms like Cresthill Capital/Mantis Funding. With decade-long experience, these firms have decoded the minute intricacies of quick funding. With the help of AI/ML, they have been able to create a pipeline that promotes faster approval and quick reimbursements. Besides, repayment of Mantis Funding Cash Advance or any other funding options is customized by keeping the applicant’s business model in mind.

How Alternative Financing is the Best Solution for Small Business?

Funding is the hardest thing to access these days. With the market going into the phase of the global recession. The upcoming time will be very crucial for small businesses to survive. Besides the worse part here is that the traditional channels will tighten their regulations even more than before, which is not something a small business requires.

It is a universal fact that the country’s economy is directly proportional to the well-being of small businesses. Hence, this raises a serious question: How will these small firms survive when the traditional financial system denies any substantial help?

And, even if, they allow providing funds; where will these small businesses get the required credit score and collaterals to access them? Traditional channels, since 2008, have been a big fan of the credit score and collaterals. Lack of any of it ensures that the applicant is rejected. The disheartening fact here is that these small businesses, who also tend to be the backbone of the country’s economy, find hard to maintain either of the two requirements placed by the traditional channel. They have regular debt clearing sessions and inventory issues where they need to place a bet over any of the required criteria. In such a scenario, who will help them?

The answer to this question is Mantis Funding. Yes, this firm stands tall to help the backbone of our economy. They understand the problems faced by small businessmen. Apart from that, they are very well aware of the criteria placed and unpleasant situations created by traditional channels. They have devised ways that provide funds irrespective of the credit score or collateral.

They know that a small business faces unexpected challenges all the time and this is the reason why  they work to provide funds efficiently and immediately. With client-friendly technology, they have a dedicated team of support staff in the form of MantisFunding Complaints, who is working to resolve any kind of issues or queries raised by their clients.

With solutions like Mantis Funding Cash Advance, this firm has a plethora of options that match the different expectations of the approaching candidate. Also, the best part with them is that they will listen, understand, and will customize their offer as per the requirement mentioned by the applicant.

Besides, they also provide the exact figure of funds that are mentioned in the application form.  They understand that small businessmen are there for help and not a negotiation. With their primary goal to provide funds for small business ventures, this firm is a businessman’s go-to option.

Another thing that many people have quoted as an advantage with them is that they ensure that everything is done online. Hence, the application is very efficient. No tedious document signing and waiting for them to get rejected. With an online system, your application will get over in a few minutes which will then be reviewed with the reimbursement performed within 3-4 working days.

Just, in case a businessman approaches Mantis Funding for urgent help, they ensure that the application procedure is completed as quickly as possible and after reviewing the application, they work to provide funds within 24 hours! 

With adaptable methods and an efficient support system in Mantis Funding Complaints, one thing is sure that this alternative financing firm offers the most comprehensive funding solutions for a small business.

How to prepare an SME to overcome the impact of Coronavirus?

The impact of coronavirus is pretty deadly. Perhaps, it is hard to remember a virus threatening the entire market. This global pandemic has brought about a severe downfall in the market. It is fitting to say that the complete lockdown of cities due to pandemic has brought about the second recession.

There is no hiding the fact that small and medium enterprises are the backbones of every economy. The more these small and medium enterprises develop, the more they will help the economy grow and increase their chances of sustaining in a volatile market. However, as mentioned, the pandemic has caused havoc in the world of SMEs. The rapidly growing market has been struck by a lightning bolt! To make matters worse, the market has entered the bear market phase and there is no idea as to when will things change in a positive direction.

As COVID becomes an overgoing threat to small and medium enterprises, here are a few things that they can do to prepare themselves for the survival challenges lying ahead.

Disaster Funds:

Understandably, the biggest struggle in today’s scenario for a small and medium cap enterprise is going to be the absence of steady cash flow. Having steady cash flow is more than just assurance for an SME owner. 

This helps them to sustain and expand. However, the spread of pandemic has created a disruption in their assurance. And, one knows what to expect from traditional channels in these circumstances. For this reason, an SME owner can opt for simultaneous funding options like that of alternative financing firms like Mantis Funding.

These firms are working behind the scenes to provide relief cash in the form of merchant cash advance and other services. Thus, helping an SME owner to secure disaster funds for his firm in a very crunch situation.

New assumptions for a revised budget:

Perhaps, this is the time to shed some liabilities and focus solely on what’s really important for the firms. Your current budget won’t work in this current situation rather it will take more cash out of your pocket. As Mantis Funding reviews the current scenario, it is apt to say that working with an accountant to devise the possible impacts of the market on your budget is a wise idea.

Income support to the employees:

This is a testing time for both, the owners and their employees. At this very moment, they need your support. Possibly, this is the reason why it is said that an enterprise is like a family. However, given the scratchy cash flow of your enterprise, it would be quite understandable that you are under considerable pressure to meet the demands of the payrolls of your employees. For starters, you can opt for what other CEOs are doing. They are first taking a self-pay cut before telling their employees about it. In this way, you both will be on ground zero and no one will feel undone by the performed action.

However, if you don’t want to act on this, there are alt-fin firms who will readily agree to help you. Firms like Mantis Funding have exclusively designed their services with flexible payments in a way that they can help you in the best of their capacities.

A Look At How Alternative Lenders Help Healthcare Practitioners

Doctors operating out of their own practices or clinics must also stay on top of the business side of their work. They also have to manage expenses, meet payroll, manage employees, and conduct various other activities that come with running their own business set-up. While one wouldn't equate doctors as struggling for cash, they do face their fair share of tight cash flow situations and can certainly use the services of alternative lending institutions to make operations flow a bit more smoothly.

How can alternative lending institutions help doctors?

Working capital: As most patients come in through heath insurance companies, getting insurance companies to make payments on time, and minimizing the risk of invoice rejection is a continuous task for all healthcare professionals. Delayed payments by insurance companies are one of the biggest reasons for cash flow hiccups faced by medical practitioners.

While cash runs low, the expenses of meeting payroll, utilities, insurance, and similar expenses remain urgent and constant. Here an alt-lender can help.

An alternative lender such as the New York-based Mantis Funding offers medical professionals a variety of financing options. The two most popular ones are Merchant Cash Advance (MCA) and Business Line of Credit (LoC). Mantis Funding reviews applications for both these options based on the transactional data or the business and the credit history of the business owner.

An MCA is a lump sum cash payment, which is repaid by deducting a percentage of daily or weekly sales revenue. This is a simple solution for short-term, one-off cash flow shortages. A line of credit, on the other hand, offers long term relief; it provides a revolving flow of credit wherein practitioners are given a credit line with maximum value and can withdraw the amount they need at will.

Growth capital: Medical technology is changing and evolving continuously, and in the last decade, the pace of innovation has quickened. In order to offer their patients the best treatment options, healthcare professionals must keep upgrading their equipment. However, medical equipment is very costly and almost impossible to afford without financing.

Alternative online lenders have special equipment financing offers for medical professionals, which help them get the latest technology but without stressing their cash reserves. Most alt-lenders like Mantis Funding offer two equipment financing options – leasing and purchasing.

Equipment leasing is best for equipment that evolves and becomes obsolete very quickly. As leasing is almost like rental, there is no down payment or collateral required for it.

Equipment purchase financing is recommended for business-critical equipment that has a long shelf life. Here the piece of equipment itself serves as collateral and drives down repayment costs. But in most cases, the buyer is expected to put provide a down payment.

In both these funding options, Mantis Funding reviews the client applications based on their business needs, cost of the equipment, financial records, and other business transactional data.

Final Thoughts: To keep things ticking along smoothly, medical practitioners need to keep their business cash flow in the green. The long-term solution is naturally to make your collection process watertight, reduce errors and delays as much as possible. However, even with perfectly coded claims from their side, insurance companies usually take months to pay.

It is best to factor these delays and plan around them by getting in touch with alt-lenders well in advance. With help from lenders like Mantis Funding, healthcare businesses can easily manage day-to-day expenses AND invest in their growth without being hindered by the lack of ready cash.

Why Did The World See An Explosion In Alternative Financing?

There has been an explosion in the alternative financing industry over the last decade. Alternative lenders like Mantis Funding are fast emerging as the reliable go-to option for SMEs looking for quick credit disbursals. But what caused this explosion? Let's examine more in-depth.

The Unwillingness Of Banks To Support SMEs

After the last recession that shocked the world some ten years ago, traditional banks have been way tighter with their purse strings. Bound by government regulations, they follow stringent conditions/standards, which make it hard for many applicants, especially small business owners. These approval criteria include high credit scores and substantial collaterals.

This reluctance of traditional banks in supporting SMEs created a void that alternative lenders could fill. Startups and SMEs have bloomed around the same time, and there was a significant need for non-traditional financial institutions to take over the vacant space left by banks.

For example, alternative lenders like Mantis Funding are doing their best to support SMEs and startups to grow and expand. All this without asking for high FICO scores or collaterals.

The High Demand For Quick Cash Flow

Time and again, the extensive wait at the banks, to approve a funding application, has proven to be a significant deterrent for startups and SMEs facing tough competition in the ever-changing market. In the fast-paced business world, cash flow needs to be quicker and smoother. Since traditional banks couldn't fill in the blank, alternative lenders emerged.

Alternative lenders like Mantis Funding reviews each application fast to disburse the loan within a few days of applying.

Decreased Patience For Extensive Documentation Hassles

When time is money for each busy professional, it isn't surprising that businesses are unwilling to go through extensive documentation filings. Banks are well-known for their tiring paperwork and long waits. With a fast-developing SME economy, there was an immediate need for lenders who would facilitate cash flow without consuming too much time in paper filings.

Thus, alternative lenders who posed no such hassles were able to capture the market. Such lenders like Mantis Funding review each application in the minimum time possible, thus, further reducing the overall wait time and hassles.

Marketplace And High Worth

The marketplace and high worth of the alternative lending industry can be well-assessed by the Chartered Institute of Credit Management article published in 2018. Through a closed group survey, the report stated that only 26% of SMEs thought that their bank could meet their funding needs. In 2019, the transactional value of the alternative lending industry has been around USD 267,123.6 million.

SMEs are highly concerned about their long-term sustainable growth and understand the crucial need for cash flow to refuel themselves. Even after ten years, banks are still reluctant to finance startups and SMEs. And this, in gist, is the biggest reason alternative lenders flourished in the first place. But with Fintech-led automation, alternative lenders have fast evolved from last option to the preferred choice. The alternative lending industry story is only going to get better over the next decade.

Getting Emergency Cash Flow For Your Business Needs

Going through sudden rough patches is common for most small business owners. And more likely than not, a shortage in cash flow is the most common reason for the same. You might have the best merchant –supplier relationship with your product supplier but things can always change in the world of business. A sudden need for a larger than usual amount of the product, a sudden increase in the prices of the products is a common occurrence.

And then, there are those unforeseen conditions wherein a supplier suddenly decides to close its doors. Well, in these scenarios, the problem is usually not as simple as it appears. It is not just a matter of finding another vendor but about looking for one that agrees to your terms and signs the deal as quickly as you want. Regardless of your efforts, time is usually a limiting factor for running the business.

This is the reason why most merchants need small cash advances to meet up the sudden needs that come with the new supplier terms. When it comes to small business owners, capital funding institutions like Mantis Funding LLC provide the best possible solution.

Going to the banks

Yes. Banks are the first step that a business model considers when cash-flow crunch situations happen. But getting cash advance from banks is not always as simple as it sounds. Banks are fairly strict on their terms and conditions when it comes to cash advance approvals.

Additionally, they are usually not too keen on lending a small amount of fund, like the ones that are usually required by small businesses to tide over their cash crunch situation. And then, the process is extremely time-consuming, which is perhaps the last thing that a small business owner wants. This is exactly where capital funding institutions like Mantis Funding LLC come to the rescue.

Other options

While there are other possible options like business credit cards, it does not always work profitably for the business owner. The high-cost structures that come with them add up to the list of liabilities. Capital funding institutions like Mantis Funding review the overall business model and don’t just rely on the credit score of a company and are hence available to provide instant cash advances.

Also, since Mantis Funding LLC deals specifically with small and micro business ventures, they are more likely to understand the sudden needs that such businesses face and are willing to help in a flexible manner.

Why capital funding institutions are a win-win option?

Since capital funding institutions like Mantis Funding reviews the revenue stream as well as the customer base of a company, they are a more viable option for ongoing small business ventures that need a sudden cash inflow. Banks, with their stringent terms, may often lend cash advance (if they agree) based on the current credit scores and are time taking in their procedures of approval and cash advance sanction.

However, the instant transfer of cash to a merchant’s account after a quick review and agreement on repayment terms makes the scenario a win-win one for small business owners. Additionally, the easy and flexible repayment terms (like a percentage of monthly sales goes as repayment) offered by Mantis Funding LLC makes it super convenient for merchants to manage within their daily operations.