Monday 11 November 2019

Grow Your Business With The Right Alt-Finance Partner

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.

Conclusion

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

Expand Your Small Business Easily with Alternative Lending

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.

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