The Advantages Of Maintaining An Established Funder Partnership

As a small business owner, a big part of your growth journey will be determined by your ability to find capital investment at the right time. At different stages of your business lifecycle, you will need liquidity – either to help you operate smoothly or to invest in business expansion.

As capital is almost a continuous requirement, it is useful to maintain a long-term relationship with a reputable alternative lender. Many small business owners get in touch with alt-lenders, like the New York-based Cresthill Capital, looking for quick funds, but this first interaction/ deal with a financing company can easily be turned into a long term financial partnership that can be beneficial for both the lender and the business.

Better Deals:Working with known agencies will naturally help small business clients access better terms and conditions. As a long-standing client, an SME owner will be able to negotiate more reasonable costs because the funding company is also working on the assumption that a long term paying client is worth smaller margins.

Faster Funding: With an existing relationship, approval and cash processing can be hastened considerably. Firstly, the lender will already have most of the client’s documents with them, and secondly, they would be naturally inclined to go the extra mile to help a known client. For critical, last-minute financing, an existing relationship with a lending agency will help you get hold of money faster.

Better Service: With prior associations comes the ease of communication that results in better customer service. Clients would already have assigned funds managers, and a quick call and simple paperwork are all that would be required to get started. They might also have a friendly relationship with the lender’s team, which would give them access to important information and preferential treatment.

So how can small business owners ensure that they find the right partner and keep their relationship on the right footing? Here are some tips from us –

Research and test to find the best alt-lending partner

When looking around the alternative lending industry for the first time, we would recommend that business owners do thorough research in the background and reputation of the companies on their shortlist. Ask for referrals and reach out actively to old clients to build an accurate picture of their offers and work ethics.

It is also important to do your homework and find the best offers across the industry. This would ensure that you always have a good starting point for discussions with the financing company.

Set clear expectations:Clients should always have a clear set of dos and don’ts when it comes to funding and their business goals. Sharing these early in their partnership would ensure that everyone is on the same page right from day one.

For example, Cresthill Capital reviews always mention that the initial goal-setting talk with funds managers helped clients opt for the right financing offer, which they found invaluable in the long-run.

Communicate well:Communication shouldn’t just stop once the deal is signed, and money is paid; it shouldn’t just devolve into reminders or follow-up emails. Constant contact keeps both the lender and the client updated.

At Cresthill Capital, the managers schedule regular calls to catch up with the business owners whose accounts they are handling. These calls not just help SME owners get vital advice on financial matters, but also work as a sounding board for upcoming business plans. 

Conclusion: Capital injections are a recurrent requirement for almost all small businesses – with modest nest eggs and fluctuating revenues, SMEs always need third-party financing to run their business smoothly and to invest in growth. In this case, if they find an excellent alternative financing company, then it makes complete sense to stick with them and build a long term partnership.

Scale Your Small Business With The Help of Flexible Alternative Finance Offers

When it comes to scaling your small business, a lack of funds is the biggest hindrance that you will face. Access funds through traditional channels such as the banks might seem the logical starting point, but the option is not feasible in most cases for small business owners who are just starting out.

Banks don’t lend so easily to small businesses without collateral, and new companies without an established credit history have very little chance of getting approved by the banking sector. In such a scenario, alternative financing comes handy. So, if you are looking to scale your small business with the help of flexible alternative finance offers, then this post is for you.

Planning and Execution

To scale your small business, you need to have a concrete plan in hand. Develop management skills and collaborate or identify potential partnerships. Fostering and nurturing relationships will help you to scale your business. Finally, master the core competencies that set you apart and then build a plan around it. Once done, it is time to execute the plan. And who knows better than you that to implement the program, you need financing.

There are several ways to secure alternative funding to scale your business. If you do a little market survey, you will find many trusted alternative fund lenders. For example, Cresthill Capital is one of the well-known alternative money lenders that offer cash advances of different sizes that are not based solely on credit scores or collateral.

The Benefits of Opting For Alternative Financing

Most of the alternative financing lenders are technology-driven. Plus, most of the alternative lending companies use machine learning to underwrite funding. This means that there is hardly any waiting period. For example, Cresthill Capital review says that they offer funds as quickly as 4 hours or up to 3 business days. So, if you need fast cash, alternative financing is your best bet.

Different Types of Alternative Financing Available To Scale Your Business

Each business has its requirements to scale up. While some might need some extra funds to promote their services, others may need sophisticated equipment to scale. Keeping that in mind, different alternative lenders offer various funding options that you can leverage.

A business line of credit: This is your go-to solution when you have recurring liquidity issues and need immediate cash flow. It works rather like a credit card where you have access to a large amount and can withdraw what you need at will. Alternative financing has made it super easy to apply for it online.

Equipment financing: You can obtain a 100% advance of the value of the equipment from a lender if you intend to purchase a piece of new equipment. However, if you have a short-term requirement, you can also go for equipment leasing.

Invoice financing: This is another popular form of alternative financing where the lender can offer you cash based on your pending invoices. Once your customers pay the invoice, you can get the remaining balance amount. Usually, an alternative lender will charge a small fee for the advance.

Merchant cash advance: One of the most popular alternative lending options is merchant cash advance. You can avail yourself of a lump sum amount, which you can pay back with your daily card sales.

All these alternative lending options are useful to scale your small business. Go through each of the options in detail to make an informed decision.

5 Ways In Which Small Businesses Are Using Alternative Funding

Small businesses often require alternative funding to give a few boosts to their business or pursue growth opportunities. It is not uncommon for small business owners to opt for alternative funding now and then. The best thing about alternative funding is it is easy to secure, the waiting period is minimal, and since everything is online, the hassle of going through paperwork is almost negligible.

Plus, alternative funding hardly pays attention to credit scores, unlike traditional banks. Moreover, as most of the time, small business owners need only small sums of cash, alternative funding is the fastest and simplest option for them. Check out the Cresthill Capital for more details on alternative funding.

Let’s understand how you can use alternative financing wisely to grow your business.

1.Purchasing/renting a new tool or equipment: You can use alternative funding to rent or purchase a new tool and boost your productivity. Many businesses find it an effective solution as they get to upgrade or add new services without paying out of their pockets.

For example, if you still maintain your business accounts manually, you can probably use alternative financing to invest in a more modern accounting solution that will free your resources, and you can divert your time to other important work or if you are a doctor then investing in the latest Ultrasound machine could be beneficial for you as well as your patients. Investing a small amount of money acquired through alternative financing can give you a rapid ROI if used wisely. Read Crest Hill Capital reviews for more insights.

2. Launching a new service: If you have been planning to launch an additional line of services, then you might need a lump sum amount of cash to invest. Alternative financing comes in handy in such scenarios. For example, if you have a physical clothing store and your customers love you, you may want to expand your reach by going online. The upfront cost of getting a website made, social media marketing, first few delivery charges, etc. could be met by alternative financing.

3. Operations cost: Small businesses often run out of cash to meet working capital, which is nothing but a day – to – day operation costs. These could be anything from covering utility bills to buying inventory or getting supplies. Alternative funding can come in handy to meet such expenses as working capital.

4. Online marketing of your business: Small businesses often lack the funds to do extensive marketing of their services. But, with a little bit of investment, they can easily leverage the power of social media and do online marketing for their businesses. Alternative funding comes in handy here. With the help of alternative funding, you can easily invest in content marketing, social media marketing, spend on Google ads, or pay for sponsored posts. Check Cresthill Capital; you can find some valuable insights that can help with your alternative funding decisions.

5. Meetup expenses: One of the best ways to grow your small business is through networking with the right people from your industry. Attending a relevant conference or a trade show will help you stay abreast of the latest developments in your field and develop good networking opportunities with prospective clients and peers.

But this can get a bit tricky if the conference ticket price is high. Plus, if you need to travel, you may also have to arrange for logistics and other overheads. Alternative financing can get handy in such cases. If you’re in two minds, Cresthill Capital reviews can help you make an informed decision.