Monday, July 27, 2020

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.

Monday, December 30, 2019

How Will Alternative Lenders Compete With Traditional Lenders In 2020?

There has been a belief that the alternative lending industry will never be able to stand neck to neck with traditional financing institutions like banks. However, as we stand on the last leg of 2019- ready to welcome a new decade- it seems the lending industry has finally shed off this misconception.

Almost any small and medium-sized enterprise can enter the alternative lending industry with a solid strategy backing up its operations. The next decade of the 2020s is going to witness more accessible cash flow, where traditional lenders would face stiff competition from alternatives like Mantis Funding.

But how will alternative lenders compete with traditional lenders in 2020? Let's delve further.

Technology As The Playing Field Leveler

Technology is the biggest factor that levels the playing field for traditional lenders like banks and alternative financing channels. The latter is gaining a competitive edge by relying on new Fintech solutions that help automate the entire lending process.

The result is out-of-the-box functionality like the one Mantis Funding provides. Mantis Funding reviews loan applications outside the traditional parameters of credit scores. Hence, offering a higher chance of cash flow for startups and SMEs.

Accessible Cash Flow

Alternative lending makes cash flow far more accessible for startups and SMEs. Often businesses in dire need of cash flow find it inaccessible due to tough provisions like high collateral and credit scores. As more and more alternative lenders branch out from the traditional funding approval mechanism, the next decade will make lending more accessible for such businesses.

Instead of high collateral, lenders would become more intuitive at predicting the risks of lending. Artificial Intelligence supported solutions, based on deep neural and machine learning, would help in the advanced evaluation of lending risks. For instance, Mantis Funding Reviews applications without involving high collateral stakes.

Underwriting And Decision

The next decade is going to see the fast development of an advanced credit scoring model with the use of underwriting automation. Businesses would be able to improve their portfolio and reduce credit risk in a far better manner. The loan underwriting and decision making will depend upon advanced out-of-box scoring algorithms.

For informed decision making, the system would provide more in-depth analytics to the approving officer that might be drawn in from a variety of channels, including the applicant's social networks, utility bills, and IT returns.

It is evident that 2020 is all about accessible cash flow, and the way the alternative lending industry is developing, traditional channels might be in for a big surprise. If the last few years are anything to go by, we see a substantial year-on-year increase in small and medium-sized businesses turning to alternative lending institutions. The alt-lenders have made this headway based purely on their competitive offers, flexibility, speed, and customer-friendly approach. The new decade will see more of the same!