Thursday, 23 January 2020
Veterans form an essential part of the country's population. They are men of honor! They have served the county with great respect and integrity, and when they decide to get back to their normal life, we must assist them in settling in the pacifist world.
However, given their nature of the contribution, there's no stopping them when it comes to contributing towards the nation's progress. This is the reason why most of the veterans opt for establishing their businesses.
This is where alternative funders like Cresthill Capital/Mantis Funding help these spartans by providing them with the necessary financial boost that gives them the base to boost their growth to catch up with the big birds of this field.
What is the role of alt-funding in the business of veterans?
Before we reach into the depths of the topic, let us first see how alt-financing is helpful for veterans. Though there are alternative funding options available to grow veterans business, yet there are terms and conditions for the vets to qualify in order to avail of the help. However, one can contact peers and visit different sites of alternative funding like Cresthill Capital/Mantis Funding to understand their services and the way these firms offer deals.
A point to note while opting is that the vets should look for the options and special programs that these firms work separately for them. If you are a retired military officer, then you should know the requirements of your business and approach the funding firm accordingly.
Options that the vets can explore: Interest and skills are the two pillars of any business. However, trends and money do play a significant part in the success of a venture. And, when things boil down to a vet, there are advantages that others can't take!
Though there are a plethora of options for business here, we present you some of the finest options that will surely be profit-turners irrespective of what the market scenario is:
Fitness and self-defense training: This is something where a military person outclasses a civilian. Military vets have been trained in a way that enhances their fitness along with improving their self-defense skills. Using that as an option, you can build your own training center with the help of funds from alt-financing firms.
Travel business: Your posting in different states and overseas could be used as a wise option to start a travel business. Here you can use your expertise to set up a travel agency that takes extra care to the details of its client.
Own a restaurant: The military teaches you everything, and cooking is one of them. Setting up your cafe, hotel, or restaurant can be a perfect option to augment your skills. Further, your man-management skills make this a bright prospect for your business plan.
A military vet is an all-rounder and has excellent skills to manage any business. However, there is no age for learning and developing, and this is the reason why one should get a bit of training and attend entrepreneurship programs that build the businessman in you. Moreover, before opting for an alt-financing firm, do look for their pages like Cresthill Complaints to get an idea of how they operate and what kind of services they offer.
Friday, 10 January 2020
In less than a decade, alternative online lenders have created a whole new thriving industry by providing easy and accessible funding to small businesses and individuals. Much of their success – and growing popularity - is based on the fact that they provide highly flexible funds really fast to SMEs (including to ones with poor credit ratings). How do they do it? Well, it's all because of the data!
Alternative lenders (such as Cresthill Capital, which deals exclusively with small and mid-sized businesses) use a variety of data points to determine the risk attached to their clients. Using a mix of traditional credit data and alternative credit data gives online alt-lenders increased accuracy while assessing the creditworthiness of its clients. This, in turn, allows them to approve credit for companies deemed high-risk by banks and credit unions.
What type of data is used by alternative financing companies?
Usually, most banking institutions use financial information like credit score, internal bank records, and tradelines to determine whether or not to lend to individuals or businesses. Alternative lenders like Crest Hill Capital reviews applications with a wider variety of data. Along with the usual FICO score, they tap into financial information such as payment patterns for utilities or rentals, business transactional data, expense patterns, property records, and other publically available information to get a sense of the client’s reliability.
Some alt-lenders also use additional information such as social media feeds, address stability, subscriptions, tax records, and similar data to assess the risk of clients with very thin credit histories.
Most lenders ask customers to provide access to their account information and direct paperwork as proof; others use data aggregators for indirect information. But just collecting data is not enough! To get an accurate picture of a client's financial capabilities, this data must be analyzed – for this, alt-lenders leverage AI-backed fintech tools.
Time-wise, it is untenable for this data to be read and analyzed by individuals, but AL-enabled tools can crunch through these numbers almost in real-time - making the process super fast!
How does incorporating extended data help lenders and business owners?
When it comes to risk assessment, traditional financial data like credit scores, are more accurate than some alternative sources such as social media and expense patterns. However, while lending to new businesses or businesses with a poor credit history, these data touchpoints can be extremely helpful to arrive at the correct decision.
- integrated fintech allows lenders to process funding applications faster. In some cases, lenders such as Cresthill Capital review applications in less than 24 hours!
- alt-lenders can also use this data to serve clients with poor FICO scores or new businesses without established financial histories.
- access to data also allows them to be more flexible while dealing with individual clients. With an overview of the client's financial health, they can design specific funding deals to suit their needs.
The Bottom Line
The traditional banking sector is too narrow in its outlook and risk assessment approach. Additionally, they are also stymied by government regulations. Their risk-averse business model has an especially negative impact on the American small business community, which, as a result, was frozen out of the credit market altogether. Alternative data has made it possible for private lenders to offer this underserved community with funding at competitive rates while keeping their risk balanced. A win-win for both the lenders and for the businesses looking for credit.
Monday, 11 November 2019
In business, growth equals survival. If you stay the same, then sooner or later, you will close down. Market trends, rivals, or change in customer demographics demand constant growth and innovation. But all this information is not new – any experienced business owner will tell you the same!
However, knowing you should expand and doing it are two very different things. Ideas, vision, and planning don’t cost anything; putting all this in action is where most businesses falter. And mostly because they don’t have the money to see their plans through!
Alt-lenders step in to supply expansion funds to SMEs
Fortunately, the alternative financing industry is on hand to help in this situation. Whereas earlier banks were the default choice for funds for business owners now with alt lenders approving close to 71% of applications they receive, they are fast becoming the first choice for most small and mid-size businesses looking for expansion capital.
There are three main reasons for this shift –
The speed of the funding
For many business owners, expansion opportunities are time-bound and require a quick turnaround time for getting funds together. Waiting weeks and months for a bank approval – that may or may not come through - is not an option in most cases.
Alternative lending companies like Cresthill Capital work at a pace that ensures that application-to-approval times are kept to the minimum. In most cases, they manage to put the money in their client's bank in 2 to 3 business days. In urgent cases, they have even made payments in 24 hours!
Personalized funding service
The fact is that banks are not really geared towards small business funding; their business model is more sustainable for larger enterprises who either have bigger needs or have collateral. This is why so many SMEs feel that they are underserved by the banks. The alternative lending industry, on the other hand, came into being to serve precisely this niche market. They saw a capital supply gap for SMEs and individuals and created a business model that aligns with their needs.
For example, CrestHill Capital reviews reveal that clients are happiest with the fact that they got exactly the money (Most alt-lenders finance deals from $2000 to $200,000 and above) they needed and could negotiate the repayment terms and timelines. Having flexibility and control was extremely valued by small business owners who want to grow their businesses.
And finally, easy funding
It is extremely common for soloprenures and small business owners to have less-than-stellar credit scores. Improving credit scores takes time, and in the meantime, their chance of getting paid from a bank is close to zero. But a red marked credit score doesn't necessarily mean that their business isn't doing well!
Here alternative lenders like CrestHill capital come to the rescue. They have dispensed with the narrow confines of credit scores and instead look at business transactional data. CrestHill capital reviews the business revenue and expense pattern to determine whether a company and its owner will be able to repay the funds.
There is little doubt that in the last decade, small businesses across the globe have benefited enormously from the liquidity brought in by the alternative financing industry. From keeping their doors open through tight times to putting their growth plans in action, small businesses have used alt-fin companies to all their needs - big or small.
It wouldn't be far from truth to say that they are no longer just an 'alternative’ but are fast turning into a mainstream contender to established financial service giants.
Monday, 4 November 2019
Did you know that 52% of the total employees in the United States of America work for SMEs and about 98% of firms are small businesses with not more than 20 employees? Well, that quite clearly states that small businesses are the real backbone of the American economy.
But in spite of all the economic opportunities available, running a small scale business successfully can be rewarding and challenging both at the same time. While rewards are easy to guess, the challenges primarily consist of lack of funds, bad credit score, unavailability of collateral, rejection of applications from banks, etc.
According to reports, easy access to funds can make a great difference to small and medium-sized businesses noticeably. This is where non-bank alternative financing companies like Cresthill Capital come into the picture and bridge the liquidity gaps for small business owners easily and quickly. So, if you are still unaware of the advantages of choosing alternative finance over other traditional modes of funding, just go through this list and start working on your business expansion plans today:-
● Shorter Processing Time:
When you approach a bank for funds, it is a no-brainer that they take ages to process your request, especially when you are a small business owner. However, alternative financing companies, since they are smaller in size, have agile processes when it comes to funding.
As they don’t need to follow any regulations, they can respond to the applications in a very short time without any interference from others. Also, as the applications can be applied online, you save even more time. When small business owners need money quickly for their business, this super-fast application-to-approval time works like a superpower.
● Hassle-Free Approvals:
According to the latest Cresthill Capital Reviews, the procedure of application approvals in alternative financing companies is way more balanced and fair in comparison to the conventional modes. Also, this option is less stringent as all the applicants are assessed on the basis of their potential to repay the funds and not credit scores or collateral.
Instead of that, other means are used to judge their creditworthiness, for example, social data, transactional data, revenue stream, expense pattern, etc. This, therefore, gives businessmen with dented credit history a fair chance to avail funds and grow in the market.
● Wide Range of Options:
Along with easy funding, alternative funding companies like Cresthill Capital also provide a range of customized funding options to choose from. Thus small and medium-sized business owners can easily take benefits of options like cash advances, cash lump sum, expansion funding, equipment funding, etc. Also, for repayments, they can choose to payback through daily receipts, overall sales, future revenues, and other options that suit their business model best.
● Flexible Funding:
When you go through Cresthill Capital Reviews closely, you will realize that this alternative lending company offers flexible funds of different ranges in order to cover the smallest as well as the most massive requirements of your business. Since they are more customer-centric in nature, they tailor their services and terms as per the needs of individual clients. Be it the funding amount or the repayment terms, everything can be customized according to the needs of your business in non-bank funding.
Monday, 21 October 2019
One thing all candidates regardless of party affiliation agree on, is that small businesses are the true backbone of the United States economy. It is not Wall Street or the mega-corporations, it’s the local business that serves the needs of the community. Small businesses have challenges that are very different from stock companies.
They do not have institutional investors, they do not have investors at all. Most small businesses are started with the owner’s personal funds or finance from family or friends. But sometimes it needs help. It needs investment from a company like Cresthill Capital.
What is Crest Hill Capital?
Crest Hill Capital LLC is a non-bank funding company that serves only small businesses. They grant merchant cash advances to businesses that need small amounts of money to continue to operate through hard or slow times. The approval criteria are different than that of a bank. Based on the criteria, the company decides how much money it can advance to a business.
It works with the client to set the repayment rate and other terms and simplifies the repayment process through technology. Best of all, this company can get the business its funds faster. As soon as all the contracts are signed and delivered the business can have the funds it needs in as little as a few hours. Clients can take up their grievances with Crest Hill Capital regarding any transaction or interaction with the company.
How Does It Actually Work?
The business model and books are examined so as to help assess the risks involved. This primary assessment helps determine the most appropriate funding methods and repayment options for the business. This is opposed to the traditional banking system which adheres to a funding and payment structure that is rigid and does not offer merchants flexibility. Non- banking capital funding institutions prioritize the specific needs of small businesses and focus on repayment methods like the split percentage plan that is not only affordable for them but also provide the flexibility they require for development.
How Is The Lender Paid Back?
The contract determines how the lender gets the payment. The client can either have the payment processor split the payment between him and the lender or he can have the lender withdraw a percentage from the business bank account. This is all determined in the contracts signed before the cash advance is granted. For many businesses that have seasonal ups and downs, this is a great way to fund the business.
Banks typically won’t give micro funds because it is not worth it to them. The amount they make on the funds does not cover the processing costs required to make the profits they require. This is frequently what causes small businesses to fail. All they need is a micro fund to boost their business. If the client does a search in the Cresthill capital customer service of the company the website could help put his/her mind at ease and give more information.
Tuesday, 24 September 2019
Running a liquor store in the United States can be highly rewarding and profitable. However, getting funds from a bank for working capital or growth needs is pretty challenging. To simplify the funding process and help small businesses such as liquor stores obtain working capital or growth funds quickly, Cresthill Capital provides an alternate solution – merchant cash advance.
Roadblocks to Banks
Most local liquor stores are private businesses run by small business owners who depend on a steady stream of cash inflow to maintain or grow their business. Obtaining funds from a bank is challenging because banks and other traditional money lenders see them as high-risk businesses, especially if the business owner has a poor credit score.
Moreover, banks usually require some form of collateral. The process of applying, qualifying and obtaining the requested amount can take weeks, if not months.
Benefits of Merchant Cash Advance
Cresthill Capital provides small business owners with access to a merchant cash advance. Merchant cash advances do not come with loads of paperwork to fill out or worries about credit scores. Funding companies evaluate merit by taking into consideration your actual business performance.
If you’ve been in the business for a considerable number of months and you’re witnessing steady sales and revenues, you have every chance of getting approval for funding. Once you secure funding, the advance amount is deposited in your business bank account. You repay a small portion of future receivables till the time the entire amount is repaid. There is no need for putting up any collateral.
Why is it A Good Option for Liquor Stores?
A merchant cash advance is the ideal funding solution for liquor stores because most of the sales are done through cash or credit card. The owner should have little trouble keeping up with repayment. Cresthill Capital advisors offer flexible terms that banks and traditional money lenders simply cannot match.
The company does not charge any fee to apply, so you don’t lose anything by trying this option. The process of getting approval is fast and you can get the extra funds in a matter of days. You can continue the partnership for as long as you wish and can request any amount of funding, provided you furnish proof that future sales can cover repayments.
Use Extra Capital as You Wish
Another benefit of merchant cash advance is that it comes with no strings attached. You can use the funding for any business-related activity. Perhaps you need to cover some urgent expenses or hire more employees. Liquor stores need steady capital flow because fresh products need to be added and inventory needs to be replenished to remain competitive in the market.
You may want to invest in a sophisticated security system because liquor stores are high-risk targets of robberies and other crimes. You may also want to use the funds for a marketing campaign to elevate your presence in the community.
Ready to give merchant cash advance a try? Let Cresthill Capital review your application and connect you with an appropriate funding source!
Monday, 16 September 2019
Applying for working capital advance online from Cresthill Capital is a great way to get a bit more cash and cover costs for your small business. However, there are some common mistakes that clients make that prevent them from obtaining satisfactory outcomes. Read on to avoid those mistakes at all costs.
Understand All Working Capital Advanced Options
When it comes to accessing working capital advances, small businesses have a variety of options including short term business funding from banks and other traditional money lenders, lines of credit, merchant cash advance, invoice financing, and Small Business Administration funding. Crest Hill Capital LLC facilitates merchant cash advance.
In the merchant cash advance model, the lender provides a lump sum amount and the business owner commits to paying a portion of future receivables on agreed terms till the entire advance amount is repaid. Any of these funding solutions may be right for you, so research on every individual option and figure out the best solution for your needs and circumstances.
Shop Around For Best Deal
When you’ve decided to go for the merchant cash advance solution, take your time to shop around and find the best possible deal. Cresthill Capital works as a facilitator that matches eligible small business owners with appropriate funding sources and makes an offer for proposed financing. Once a client accepts an offer, funds are directly transferred into the client’s business bank account.
The advantages of partnering with this company are that they offer a cost-free application process, fast approval processing and competitive, flexible terms. As part of your research, read Cresthill Capital reviews and see what customers have to say about their services.
Figure Out Your Exact Capital Needs
Crest Hill Capital LLC does not look into credit scores to evaluate the creditworthiness of a client. Some small business owners are tempted to request for working capital advances in excess of their needs. Later on, they may have trouble affording repayments. It’s best to remember that the merchant cash advance will need to be repaid via future receivables.
Small business owners should figure out what they will do with the working capital advance and only request the amount that is absolutely necessary. The additional capital could be used for anything such as hiring new staff, buying new inventory, etc. but it’s important to know the exact amount you will need.
Gather Business Information Beforehand
Cresthill Capital advisors are among the most competent in the industry and can facilitate fast approvals. However, business owners also have to do their part. For a merchant cash advance, businesses need to prove consistent past and current revenues by showing supporting documents.
Before you apply for a working capital advance online, make sure your business’s finances are in order and you have necessary information such as business plan, cash flows and financial statements at your fingertips.
Follow the above working capital advance tips and get the funding your business needs to cover costs and thrive!
Veterans form an essential part of the country's population. They are men of honor! They have served the county with great respect and...
Did you know that 52% of the total employees in the United States of America work for SMEs and about 98% of firms are small businesses wit...
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As a small business owner, do you have ambitious plans for business development? Getting funding from banks and traditional lenders are no...