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.

The What And Why Of Running Small Businesses

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.