A bad credit rating is a serious threat to any business, especially a small business, and maybe a roadblock in securing a business cash advance. So, how is a small business that needs additional working capital supposed to maintain business operations or make plans for business growth?
Luckily, there are companies like Cresthill Capital that provide merchant cash advance for businesses, even those with poor credit scores.
Funding Problems of Small Business Owners
A small business owner needs to invest to maintain business quality and enhance services. Financial liquidity is essential to ensure smooth business operations. Besides, there are various activities such as hiring additional employees, purchasing new equipment, upgrading old equipment, increasing inventory and implementing advertising projects that require additional funding over and above current cash advance.
However, approaching a bank or money lender for finance is not easy if you have a poor credit rating. The good news is that traditional banks aren’t the only option to overcome the working capital shortage.
How Does Merchant Cash Advance Work?
Cresthill Capital offers merchant cash advance to businesses that meet their eligibility criteria. Their eligibility criteria are quite simple and straightforward.
They assess businesses in past and present business revenues and not credit scores. After reviewing documentation and business information, they match business owners with an appropriate funder.
If the business owner accepts an offer, funds are transferred directly to the client’s business account without any hold-ups. In exchange, the business owner remits a certain percentage of future receivables to the funder.
Innumerable Ways to Utilize Funds
A merchant cash advance is a perfect solution for small businesses to bridge the gap of working capital. The possibilities to use a merchant cash advance are varied, depending on the specific services provided by a business.
Business owners can use the additional funding to fulfill inventory orders, add new inventory, meet seasonal demand, invest in new technologies, undertake equipment repairs, pay for business premises renovation, execute an advertising or marketing campaign, have cash for payroll and meet other short term expenses.
Check Reviews before Committing
When you’re looking to partner a company for additional funding, it’s very important to check their reputation before making a decision. A good idea is to research Cresthill Capital reviews online and see what people are saying about their solutions and customer service. This New York-based company is appreciated for its fast cash advance approval, flexible terms, competitive offers and zero cost to apply policy.
It serves business owners in different industries including automotive, retail, restaurants, medical/ healthcare, and services. However, it does not offer to fund to start-ups.
If merchant cash advance seems like a good solution to you, start researching Cresthill Capital reviews - it’s the first step to watching your business flourish!
Small and medium-sized businesses often come up with a sudden need for extra working capital due to several reasons like expansion plans, bulk purchasing requirements, etc. Arranging additional working capital can be problematic at times. This is where Cresthill capital comes in and helps small and medium business owners by providing quick cash that works as working capital to the tide of the difficult time.
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