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.

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!

The Growth and Resilience of Alternative Lending Industry

Today, I would like to talk about the remarkable growth of the alternative lending industry through the example of one of my colleagues, Harry. Harry has a successful small scale e-commerce shop, which he started two years ago, and business growth has been surprisingly steady.

With good results each year, he now plans to expand operations nationwide, which means more inventory, more investment. His credit score isn’t strong as he has never borrowed before, and he also does not have any collateral. Obviously, traditional banks aren’t an option to seek financing. Should he discard his dreams?

Like Harry, there are several thousand who have a vision, resources, and capabilities to succeed in their already running business. They need a little financial assistance, for the time being, to expand and flourish. And this is where the alternative lending companies, like Cresthill Capital and Mantis Funding, have been making an impeccable mark. Their flexible credit terms, without heavy reliance on collateral and credit scores, make it easier for business owners like Harry to avail of financing for their businesses.

Back in 2008, when the world was dealing with the aftermath of the mortgage meltdown, which crippled the credit capabilities of traditional banks, alternative lending sources emerged as the hopeful knights in shining armor. And since then, the alternative lending industry hasn’t looked back.

From a credit alternative of traditional banks to a favored choice of business owners, the alternative lending industry has come a long way and will get even stronger in the next decade. Does the next decade belong to them? Yes, I certainly think – and hope – so. Let’s delve further.

Growth of the alternative lending industry

The alternative lending industry has shown remarkable growth and would continue to do so over the next decade. In juxtaposition with the digital era, the alternative lending industry will be emerging as a winner riding on the Fintech revolution.

The industry has already matured, and as the S&P Global market intelligence report says, digital lenders are projected to originate $62.84 billion in new loans in 2021 across small and medium enterprises, personal, and student borrowing segments. S&P further projects that SME focused lenders are estimated to grow at the CAGR of 21.5%.

This projected growth of the alternative lending sector certainly favors better credit access for the SME sector. Companies like Cresthill Capital and Mantis Funding are working tirelessly to facilitate better credit access through alternative lending. Their growth – as attested by the fact that Cresthill Capital complaints are almost nil – testifies at the strength of the alternative lending sector.

The resilience of the alternative lending industry

What makes the alternative lending industry resilient? Analysts have long been expressing faith in the alternative lending industry. Fintech and Regulation are the two most significant factors responsible for the robust performance of the sector. Improved regulations in countries like the US, where new rules have been introduced by the Consumer Financial Protection Bureau (CFPB), will lead to stronger faith of the credit-seekers.

Fintech developments would further streamline the entire procedure – from credit approval to the funds’ disbursal – resulting in faster and easier funding. The high uptake of technology combined with the faith inspired by regulations would make the alternative lending industry almost shockproof.

Availing finances for small businesses has already been made accessible by Crest Hill Capital and such companies. The next decade certainly belongs to all of them!

How Alternative Lending Sources are Accelerating Growth of Small Businesses?

Here’s a news piece that had me thinking for quite a while.

Pepperdine Graziadio Business School, with research partner Dun & Bradstreet, released a surprising result from their Q2 PCA (Private Capital Assesment) Index this June 2019. Alternative lending options are witnessing a steep rise for both small and mid-sized businesses. The report further detailed how attempts to secure loans from traditional sources went down in Q2 in comparison to Q1.

Reading this particular news, it is but natural to get curious over why alternative lending sources are being favored over the traditional ones. There has to be a reason why alternative lending sources are accelerating the growth of small businesses. Being a habitual analytic, I tried rationalizing over this, and here are some of the key takeaways.

Let’s delve.

The small business financing demographic has been changing rapidly. There are several financing options to choose from, and more businesses are opting for alternative sources. But why?

Businesses need financing when they come across an unexpected growth opportunity or have an obstacle to overcome that needs capital. When you have all the right elements- talent, opportunity, and a vision, lack of capital flow hurts more than ever. Alternative lenders have emerged as a reliable and powerful option for a multitude of reasons.

Relaxation in Credit Requirements

Most of the time, small businesses do not have an established line of credit. Lack of cash reserves further restricts their growth plan. Traditional lending options from banks come with tough conditions like heavy collaterals and high credit score requirements. The uncomfortable truth is that those who can meet these requirements usually don’t need financing. And those who need one do not have the luxury of collaterals.

Alternative lending options save the day for many such small businesses with their relaxed credit requirements. For instance, both Crest Hill Capital and Mantis Funding provide varying sizes of cash advances without the obligation of putting up a collateral and credit score. Definitely, the scales dip in favor of alternative financing.

Flexibility in Credit Terms

There is an advantage of availing financing from alternative sources that aren’t regulated by governments and banks. As a borrower, you get to reap benefits from flexible credit terms. You can repay over a more extended period of time, choosing installments that fit within your budget. This flexibility in terms is not offered by traditional banks. When it comes to customer-centric deals, you will hear no Cresthill Capital complaints!

Speed and Availability

Besides flexible terms and relaxed requirements, alternative lending sources win over traditional banks in the speed and easy access to financing. Banks aren’t usually equipped to fast track an application; in fact, they are generally disinterested in doing so for small businesses. The reason being, it isn’t beneficial for them.

But an alternative lending source, like Cresthill Capital/Mantis Funding, takes pride in their fast processing and disbursal. For time-sensitive financing, alternative sources are the best bet for small businesses, no doubt.

Have you considered financing from an alternative source? How was your experience? Let me know in the comments below.

Small Business Funding: Facts Versus Myths

For a first time entrepreneur, obtaining capital funding might be quite an intimidating, confusing and overwhelming process. With so many types of funding options available, different terms, cost structures, and also differing experiences, it might be useful to shed some light on what is really the truth in the financing world.

Perfect Credit and Large Financing

Business owners of startups are made to believe that only if they possess a spotless credit history will they have any chance of qualifying for a small business funding. While this may be true to a certain extent, most non-bank fundings are also approved on not-so-perfect credits. Short term cash advances from non-bank financing companies are even easier to obtain compared to the traditional bank funding.

Another myth is that financing for small businesses is only available for large amounts of money. Large scale business funding is usually preferred by traditional lending banks so that it is worth the time and investment. However, alternative financing companies like Cresthill Capital also offer very small amounts of cash advances to help businesses to meet their needs or take care of a sudden expenditure.

Long Wait And Collateral

Seeking funds from a bank generally requires months of careful planning and submission of the application well in advance. Sometimes though, cash may be required really quickly, something that may not have been possible many years ago. According to Cresthill Capital Reviews, nowadays, most small business owners can complete the entire process online within a short span of time. If all the documents are ready, the amount will be sanctioned as soon as possible.

Another notion with regard to finances is that tying up assets or collateral is imperative in order to obtain capital funds. This may seem like an area of stress for many entrepreneurs who don’t have assets of value. The solution available is to gain an unsecured merchant cash advance or a business line of credit from non-bank financing companies that do not require collateral at all. What they do need, however, is a positive revenue stream that ensures the business owner can repay the balance owed.

Customized Funding Options

Business funding requirements are not the same for everyone. Your business requirements and costs of setting up or production might be different from others. That is why before approving an application, most alternative financing companies like Cresthill Capital go through your business plans in detail, perform background checks, and analyze your actual needs versus your ability to payback. While it is easier for small business owners who have existing credit to get approval, it isn’t that hard a process for a newcomer too.

Cresthill Capital Reviews every application from the entrepreneurs closely and strives hard to make their expansion dreams come true.

The Risks of Running a Business

Starting a new business and having it take off better than expected is always good news. However, as a result, it may encounter financial problems that cannot be handled with the increased business. Although it is better to face a problem than have the business be a total failure, finding a solution to financial problems would help the business meet the market demand – and not burn itself out too early to succeed.

Say for instance, in the case of website business, the client knows the website and online marketing cannot be static or they will fail to bring in the business the customers seek. However, the business needs enough money soon to cover the professional fees, new employee salaries, and other hard costs of ramping up productivity.

Once these accounts start paying regularly, the client will strongly believe that it will be able to handle the additional running costs, but until then, a merchant cash advance would be required to address the market demand. This is where a cash advance financing company like Cresthill Capital comes in.

A Lack of Support from Banks

Traditional banks are not always willing to give funds or line of credit to address any type of growth problem, common as it may be for early-stage businesses. After all, they have no guarantee that after this sudden boom in demand for the product or service, the customer base will continue to grow, that it will retain the customers it currently has, or that those customers will keep spending at the same level going forward, despite the clients own best instincts and assurances.

Cresthill Capital is dedicated to helping micro and small businesses get the funding they need to enable them to address these kinds of “good problems” that result from the unexpected early success of the business.

How does Crest Hill Capital LLC work?

Crest Hill Capital LLC reviews the business revenue stream and historical receipts, as well as how the revenue is allocated to reinvest in the business and to pay itself and the workers. Cresthill Capital would also review the professional fees or salary the client intends to pay workers.

If the business is ultimately considered to be a good risk, Cresthill Capital customer service will work out the details with the client to match the business with one or more merchant cash advance funders to provide the business with the best deal it can find on the client’s behalf.

How Does Business Get Started With The Funding?

Once the client fully understands and agrees to the proposed terms of the cash advance financing, contracts are prepared and signed by all parties and the business can have the funds it needs [often within 24 hours] and the client can confidently take on the obligations of additional workers.

Prior to signing any contract, the clients look up things like Cresthill Capital complaints on the website. This will show how the company handles people who are not happy with the decisions they made.