Alternative Funding For Veteran-Owned Small Businesses

Military personnel has served their country with great honor, and now, as they get back to civilian life, it is time for the country to help them back. American alternative lenders like Crest Hill Capital help military vets with a financial boost that gives them a chance to catch up to their competitors who were busy establishing their businesses while the veterans were keeping the American flag flying high.

According to the last U.S. Census, military veterans own and run roughly 2.5 million small businesses, and alternative funding agencies have played their part in supporting many of them with exclusive funding deals for ex-military personnel.

Let’s understand how small business funding can help:

There are different alternative funding options available for veterans hoping to kickstart or grow their own business. Vets can get anywhere from $500 to $5.5million in funding depending on what they qualify for. For more details, you can look into the various deals offered by Crest Hill Capital.

A veteran can also be eligible for reduced fees if he/she is a service-disabled veteran, reservist, national guard member, participant in the transition assistance program (TAP), veteran (but not dishonorably discharged). Most alternative lenders offer a range of secured as well as unsecured financing options. Crest Hill Capital can help you with further details if you’re keen to learn more.

Remember, different lenders have different lending options and special programs for veterans. If you are a military veteran determined to start your small business, then do look closely at these options and choose one that fits your requirements. Whether you are looking to start your own business or planning to grow your existing small business, alternative funding is a great way to give some boost to your small business.

What are good small business options for veterans?

Of course, you can start any business that you want based on your interests and skills. But, being a veteran, you have certain advantages that others don’t. You can leverage your military skills and expertise to start your small business. Here are some ideas to get your brain-tickling. Check Cresthill Capital reviews to learn what other fellow business owners are saying.

1.Fitness And Self-Defense Training: As a military person, you have been trained on how to maintain your fitness along with different self-defense techniques. You may want to use these skills to build your own small business around fitness and self-defense training.

2.Travel Business: If you have served overseas during your military tenure, you may want to use that expertise and set up your travel business to assist people looking for special attention during their travels – especially in sensitive regions or conflict-ridden countries. As a vet, you are sure to have extensive knowledge about some countries than anyone else. Leverage them.

3. Own A Restaurant: If you served as a cook in the military, you will certainly have cooking skills. Set up your restaurant leveraging your expertise. Even if you don’t have cooking skills, you can still start a restaurant because you have better people management skills and set up an operation on a large scale.

Last but not least, there are a lot of training and entrepreneurship programs that are specially designed for veterans. Tap into these options if you are keen on starting your own small business. And don’t forget to read the Cresthill Capital reviews – they are well-known to help ex-military business owners with some special rates!

Stabilize Your Small Business Finances With Alt-Financing

It is an undeniable fact that any type of business variances may cause financial unsteadiness. Thus, a quick cash advance from alternative funding companies like Cresthill Capital/Mantis Funding is perhaps one of the most ideal ways that you can get the funding you need to go through the tough phases smoothly.

Alternative funding companies offer small and medium scale businesses instant funds that they require in order to endure difficult phases. The best part about these funding companies is that the potential borrower isn’t required to possess a business that has been in presence for several years. Unlike banks, as soon as the funding request is accepted, it is transferred to the business account of the applicant in just 5-7 working days.

In addition, the deals offered are customized to guarantee receptiveness. For example, the Cresthill Capital Complaints department helps potential borrowers to have their questions and complaints resolved by experts on priority.

Are you eligible for a cash advance?

If you are also looking for a cash advance from Cresthill Capital/Mantis Funding you must know that both the companies first check the income stream of your business closely. They usually crosscheck factors such as whether the variances are at a sensible rate or not, how exactly the income happens, the client base and how the income is reinvested into the business. They will likewise think about why the business needs the fund in the first place. If everything is satisfactory, the approval is made without any delay.

Do you have flexible repayment options?

As soon as your application is approved, the following stage is to work out repayment choices that are adaptable and won’t affect your business excessively. The general strategy for repayment that is favored is the split percentage system where a part of the business is redirected from the source towards repayment. The reimbursement alternatives depend on commonly concurred terms and any complaint that you face can promptly be taken up through the Cresthill Capital Complaints department.

Secured future of small and medium scale businesses?

While well-established businessmen have access to cash reserve for dealing with financial instability, fluctuations in small businesses can’t be evaded when there is a lack of capital. They don’t have the advantage of a working capital reserve and as they are not very settled and their funding requirements are smaller, their applications are frequently rejected by banks.

However, with non-bank funding companies like Cresthill Capital/Mantis Funding, small scale business owners have become hopeful. They can easily get in touch with such capital funding companies to meet their quick fund requirements. The exceptional customer service ensures that they will get what they are looking for and repay exactly the way that suits their business best.

With a number of funding and repayment options offered by renowned alternative financing companies, one can say that the future of SMEs is completely secured and a lack of capital can never stop a small scale business owner from growing and expanding. For more details feel free to call 800-828-0452!

How To Get Business Funding From An Alternative Lender

After years as a business owner, I can attest to one fundamental reality of every business; companies ALWAYS require money to operate and to grow. And no matter how profitable you are today, there could always come a time when a liquidity crunch will make you look outward for funding.

For small business owners, like me, finding money to fuel business growth (or even just to keep ticking through a lean period) was a constant challenge. It always seemed to me that the banks just made it too hard to get funding!

The paperwork, the wait, and, most critically, the uncertainty of approval made me lose many opportunities over the years. Thankfully, alternative financing institutions have now become a part of the mainstream funding sector – making it easier for small business owners, like me, to inject money into our businesses.

Over the years, I have taken three financing deals from alternative lenders (Cresthill Capitals/Mantis Funding), and this is what I recommend for business owners approaching alt-lenders for the first time –

1.Understand your requirements

In my opinion, the first and most crucial step is to analyze your business need. How much do you need, for what and for how long, and, most importantly, what can you afford? These are important questions you need to consider before you approach any alt-lender.

Once you have a basic idea of your needs, it is important to detail it out. Put down a timeline with specific goals for month or quarter – for example, if you are planning to take a financing offer to update your business premises, then you should have fixed price quotes from the builder, with a timeline and all the costs involved. You should also have a projection of how your revenue will pick up after the changes.

2.Research the alt-lending marketplace

The alternative financing sector is pretty diverse and vast – and spending time researching the various companies will certainly ensure you get the best deal possible.

Along with the lender and their specific deals, you must also weigh the different lending options. Most alt-lenders, such as Cresthill Capitals/Mantis Funding, offer merchant cash advances, business lines of credit, equipment financing, or working capital funding. Each comes with different rates and timelines.

You must match your needs to the right financing type. For example, my first funding offer from Cresthill Capital was a merchant cash advance for $10,000, which I used to stock up on seasonal inventory. The money was paid in a lump sum, and repayments were made as a percentage of daily sales.

3.Apply online and keep documentation ready

Once you have found the right deals, it is time to fill up the application. For a first-timer, it makes sense to apply to 2-3 different lenders. Once you apply, someone from the company’s team will get back to you for more information and to negotiate terms. Comparing a couple of offers can give you some leverage here.
The first time, I also kept my options open. But I had absolutely no Cresthill Capital complaints, so the next time I just went back to them as I was pretty sure they would give me the most competitive rates.

4.Negotiate

One of the things I like best about alt-lenders is the extreme flexibility they offer. The terms are not written in stone, and there is always room to get a better deal. So my final piece of advice is to negotiate a bit, as you will certainly shave off a bit from your total cost.

I hope this article makes your first time financing process a bit easier! One final piece of advice – take time and explore different options. For this start talking to various alt-lending institutions soon, don’t wait for a cash crunch to hit your business!