Revenue-Based Financing
For Entertainment Businesses
Make your entertainment business dreams a reality by working with Mantis Funding, one of the leading revenue-based financing providers. Our team at Mantis Funding will work with you to create a custom-made plan for your success.
What You Need To Know About Financing Your Entertainment Business
Financing for your entertainment business is crucial for securing talent, paying employees, fixing repairs, and creating the perfect ambiance that caters to your clientele. The bar and nightclub market is a billion-dollar industry with thriving businesses everywhere from small cities to large metropolitan areas. Discover how financing your entertainment business can help set your business apart from the competition.
Popular Sources for Funding an Entertainment Business
When it comes to securing funding for your entertainment business, there are a few popular options outlined below.
Revenue-Based Financing: While securing business financing from a bank can take months on end, revenue-based financing can take days and might be a better option to get the funds you need for your business fast. If your company has strong revenue, then this option might be worth pursuing. Plus, you can put the revenue-based financing toward any aspect of your business.
Family and Friends: It may be worth approaching your family and friends for their financial support. Just make sure you can work out the details with a legally binding agreement like a promissory note.
Business Credit Card: Opening up a business credit card can be one way to pay for short-term fixes. Credit cards typically have shorter repayment periods and late fees, which is important to keep in mind. If you don’t have a big enough line of credit to draw on, then this option may not be feasible for long-term solutions.
What Types of Entertainment Businesses Do We Finance?
At Mantis Funding, we finance a wide variety of entertainment businesses. This is not an exhaustive list, so please feel free to reach out to our representatives with any questions so we can quickly decide and see if you qualify for funding.
- Bars
- Nightclubs
- Arcades
- Breweries
- Comedy Clubs
Entertainment Financing Process
At Mantis Funding, we understand the unique challenges and financial needs of entertainment businesses. That’s why we offer revenue-based funding solutions specifically tailored to help your business thrive.
1. Quick and Easy Application:
Our application process is designed to be simple and efficient. You can get started by filling out our online application form, which requires basic information about your business, your ownership, and your financial history, plus:
- Business owner’s name and social security number
- Business name and Tax ID
- Last three months of business bank statements
- Copy of the business owner’s driver’s license
- Voided check from your business bank account
2. Fast Approval and Funding:
After you submit your application, a Mantis Funding advisor will contact you within 1-3 business days to discuss your needs and answer any questions you may have. We will also request any additional documentation needed to complete your application.
Following a quick review process, you’ll receive a prompt decision on your financing offer. If approved, the offer will detail the amount of funding, terms, and any applicable fees.
3. Funding in as Little as One Business Day:
Upon your acceptance of the financing agreement, our team will handle the final steps, including bank verification and a confirmation call to ensure you fully understand and agree to the terms. This streamlined process allows you to get the capital you need quickly and get back to focusing on what matters most – running your successful entertainment business.
Minimum Requirements for Entertainment Financing
To apply for entertainment business financing with Mantis Funding, we typically require the following documentation:
- Basic business information: This includes your business name, address, and phone number.
- Ownership information: Provide the names, social security numbers, and ownership percentages of all business owners.
- Financial documents:
- Last 3 months of business bank statements
- Year-to-date profit and loss statement
- Federal tax returns for the most recent fiscal year
- Business plan (if applicable): A well-defined business plan can help strengthen your application, especially for startups or businesses requesting larger amounts of funding.
- Photos of your business location and equipment (may vary depending on the type of business): For some businesses, visual documentation can help us understand your operation and equipment needs.
Please note: The specific requirements depend on the type of entertainment business you own, the amount of funding you are requesting, and your state. Contact us to discuss your specific situation.
Credit Qualifications for Entertainment Financing
Mantis Funding understands that building a successful entertainment business can be challenging, and we know that credit history isn’t always an accurate reflection of your potential for success. We take a holistic approach to evaluating your application, considering your business plan, financial projections, and industry experience alongside your credit score.
We encourage you to apply even if your credit score isn’t perfect. Our team will work with you to understand your unique situation and determine if our financing solutions are a good fit for your business needs.
Why Do Entertainment Businesses Choose Mantis Funding?
From seasonal ups and downs to the high cost of maintaining equipment and creating an immersive experience, securing funding can be tough. Here are just a few reasons why entertainment businesses choose Mantis Funding for their financial needs:
- Fast and Easy Application Process: Our streamlined application process gets you the funding you need quickly so you can focus on running your business.
- Flexible Financing Solutions: We offer a variety of financing options to meet the unique needs of your business, from short-term working capital to long-term equipment financing.
- Competitive Rates and Terms: We offer competitive rates and terms to help you save money on your financing costs.
- Experienced Team: Our team of experienced professionals understands the challenges of the entertainment industry and is here to help you succeed.
- Commitment to Customer Service: We are committed to providing exceptional customer service to our clients.
- Minimum Credit Score Requirements: We understand that launching a successful entertainment business can be challenging, and we consider various factors beyond just your credit score.
How Soon Can I Get Entertainment Financing?
We understand that getting access to capital quickly is important for your entertainment business. Our streamlined process allows you to get the funding you need fast:
- Quick and Easy Application: Our online application can be completed in minutes.
- Fast Approval Decisions: You’ll typically receive a decision on your financing offer within 1-3 business days.
- Funding in as Little as One Business Day: Once approved, funds can be deposited into your account within one business day.
What Are the Pros and Cons of Entertainment Financing?
There are many factors to consider when deciding whether or not to pursue entertainment financing. Here’s a breakdown of the pros and cons to help you make an informed decision for your business:
Pros:
- Access to Capital: Financing can provide the capital you need to launch or grow your entertainment business. This can be helpful for funding equipment purchases, renovations, marketing campaigns, or covering operational costs.
- Improved Cash Flow: Financing can help improve your cash flow by providing a lump sum of money upfront. This can be helpful for managing seasonal fluctuations or unexpected expenses.
- Potential for Growth: Financing can help you take advantage of new opportunities and grow your business. For example, you could use funding to expand your services, open a new location, or invest in new technology.
Cons:
- Debt: Financing creates debt, which requires you to make regular payments, sometimes with interest. This can strain your cash flow if your business isn’t performing well.
- Loss of Control: In some cases, lenders may require a say in your business decisions as a condition of funding.
- Risk of Default: If you are unable to keep to your installment schedule, you could risk defaulting, which could result in legal action and damage your credit score.
Do Your Research:
Before applying for any financing, it’s crucial to do your research and understand the terms and conditions of the chosen funding type. Carefully consider the interest rates if applicable, terms, and any potential fees involved. It’s also important to create a solid business plan that demonstrates how you will use the funds and generate a return on investment.
Remember, at Mantis Funding, we believe in creating customized funding solutions. No matter your entertainment business niche, we’ll work with you to understand your specific needs and craft a funding plan that fits your cash flow.
Frequently Asked Questions About Entertainment Financing
Finding funding to expand your entertainment business might seem like an overwhelming task. Mantis Funding is here to answer all your questions and provide you with hand-tailored revenue-based financing options.
Revenue-based financing is the purchase and sale of a business’s future revenue and offers more flexibility than traditional lenders. Funding can be put toward any area of your entertainment business like utility costs or paying for licenses and permits. Cash is provided to you upfront so you can cover any startup costs and get back to focusing on your customers and improving their experience.
At Mantis Funding, we make it easy to apply. Our eligibility requirements are simple:
- Your business has been operational in the U.S. for at least 6 months.
- You own at least 50% or more of the business.
- You can pass a minimal credit score check — low credit scores are ok!
If you meet these basic requirements, then we invite you to fill out an application for funding so our representatives can get started on the approval process.
At Mantis Funding, we offer revenue-based financing up to $5,000 – $500,000. The amount of financing you qualify for will be based on a few factors like your ability to provide proof of monthly revenue.
Mantis Funding understands the challenges that are unique to those in the entertainment industry. Late rent payments or broken kitchen equipment can set your business in a downward spiral. Traditional lenders typically have a long list of eligibility requirements and slow processing times. At Mantis Funding, we provide funding to your bank account within one business day once your financing agreement is signed. We also provide flexible repayment structures that suit your company’s business model — not the other way around. Partnering with Mantis Funding can help set your company up for success.
Curious how your entertainment funds can be put to good use? With Mantis Funding, revenue-based funding can be put toward:
- Remodels that cater to your clientele
- New audio equipment
- Payroll expenses
- Rent and other utility costs
- Inventory (including alcohol and food)
- Marketing outreach
Other Industries We Service
We service a wide variety of industries, including the construction, automotive, and medical sectors. Industries range from logistics and trucking businesses to retail and restaurants. We also service other industries that are not included on this list and invite you to fill out an application for funding so our representatives can reach out to you.
Get in Touch
Want to learn more about our application process or still have other questions?
Our qualified representatives are standing by to lend a hand.