Non-Bank Funding Options for Your Small Business

Regardless of your political preferences, one thing all candidates regardless of party affiliation agree on, is that small business are the true backbone of the United States economy. It isn’t Wall Street or the mega-corporations, it’s the local business that serves the needs of the community.

Cresthill Capital

Small businesses have challenges that are very different from stock companies. They don’t have institutional investors, they don’t have investors at all. Most small businesses are started up with the owner’s personal funds or loans from family or friends. But sometimes you need help. You need investment from a company like Cresthill Capital.

What is Cresthill Capital?
Cresthill Capital 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 loan approval criteria are different than that of a bank. If you look at Cresthill Capital Reviews you will find that it uses your monthly revenue stream, your average bank balance, how long you’ve been in business and what your business is. Based on these criteria, the company decides how much money it can advance to you.

It works with you to set the repayment rate and other terms and simplifies the repayment process through technology. Best of all, this company can get you your loan fast. As soon as all the contracts are signed and delivered you can have the funds you need in as little as three hours. Does everyone qualify? Of course not, so you may see Cresthill Capital complaints but that happens with any business.

How Does It Really Work?
Merchant Cash Advances will only work with businesses that take debit or credit cards. Why? Because this is how your business Is evaluated and how the repayment terms are calculated. When you apply, you allow the private lender to look through your processing statements.

In this way, they can determine how much they can lend you. Remember their goal is to be repaid. Once this process is completed, they decide the repayment terms. Another advantage is there is no repayment end date, you repay the loan based on a percentage of your sales.

So, if the repayment amount is 15 percent and on Monday you make 100 dollars, you owe 15 dollars, if on Tuesday you make 200 dollars, you owe 30 dollars, and so on.

Your contract determines how the lender gets the payment. You can either have the payment processor split the payment between you and the lender or you can have the lender withdraw a percentage from your business bank account. This is all determined in the contracts you sign before the loan is granted.

For many businesses that have seasonal ups and downs, this is a great way to fund your business. Banks typically won’t give microloans because it isn’t worth it to them. The amount they make on the loan doesn’t 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 microloan to make it through the downtime of their business. If you do a search you can find Cresthill Capital reviews which could help put your mind at ease and give you more information.