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Well, does it make sense to apply for alt-fin services even if you have a good credit score? If someone had asked this question a decade ago then a businessman would have clearly said no to this. However, thought process changes with time and, opting for alt-fin service despite having a good credit score is no exception. <br><br>
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Well, does it make sense to apply for alt-fin services even if you have a good credit score? If someone had asked this question a decade ago then a businessman would have clearly said no to this. However, thought process changes with time and, opting for alt-fin service despite having a good credit score is no exception.
The upcoming decade will belong to the alt-fin sector. Fast approval, quick processing, flexible costs & terms, customized repayment and a hassle-free application procedure with 24-hour customer care backup, these are just a few advantages that a businessman has experienced so far. What’s more, firms, like Mantis Funding, are coming with automated systems that are regulated by AI/ML, making them user-friendly and a compelling option in comparison to the traditional channels.
Besides, there are many things that this industry caters to SMEs. Let’s have a look at them:
Providing Funds Without Big Collateral’s There is no hiding the fact that the large firms can easily acquire funds with their huge collaterals. However, the same is true with small and medium cap enterprises. Even though some of the SME holders might have a good credit score, they somehow flutter the traditional regulations due to a lack of collateral. This is where alt-fin firms like Mantis Funding step up and help them. They provide funds without asking for collateral that too at negotiable rates, and, sometimes, with significant amounts.
Quicker And Efficient As Compared To The Traditional Channels Even if a businessman has maintained a good credit score, there is no surety whether or not that businessman will get a quick response from the bank. This is where alt-fin firms have encashed and become one of the most trusted channels. And this is not all, they are ever ready and are working to help with funds quickly with fast processing when the requirement is urgent. Firms like Mantis Funding review applications and help their clients with funds of varying sizes within 2-3 days!
Help With The Amount That Is Requested! Apart from the slow approval process, many businessmen struggle with traditional channels’ reluctance to provide funds of considerable size. Their nature of reducing risk usually results in providing less amount as compared to their client’s expectation. However, this problem too was sorted out. With alternative funding firms like Mantis Funding, the owners got what they really wanted. These firms offer a wide range of funding services with customized repayment timeline and cost structure.
Firms like Mantis Funding also provide different services like working capital offers, or equipment leasing/buying financing offers and merchant cash advance services, that cater to the short term and long term requirements of their clients. Indeed, the rise of online application and these financing firms have changed the scenario of the financing industry. Besides, they have also removed the roadblocks set by the traditional services. What’s really worth appreciating is that they have worked to overcome the business liquidity crunch and has harnessed the growth of the backbone of the country’s economy.
