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!

Business-Friendly Funding

Traditional financial institutions don’t lend easily which is why a financial business that is willing to offer all the financial support to help build a business is important. In order to maintain the business and expand as well as capitalize on any opportunities that will help to gain good profit, steady cash flow is necessary.

Banks and other lenders offer credit only after they assess the creditworthiness of the business. This is concluded based on some criteria that are quite primitive. Lenders like Crest Hill Capital LLC do not depend on two-dimensional credit scores to offer necessary funds. They make sure that every applicant that is qualified to be given funds can access the capital without any delay.

Banks v Non-Bank Financial Institutions

Banks and other non-bank financial businesses offer funds to businesses, but unlike banks, non-banking financial companies are willing to offer funds to all kinds of businesses except start-ups. Banks need to be registered while others do not need to be.

The application process is rather simple and quick and this means that clients of Cresthill Capital have lesser complaints than big banks. The rates are competitive and the funds are offered as quickly as possible which helps in the smooth flow of the business.

A Strict Policy on Purpose of Funds

The only restriction Cresthill capital places on the use of approved cash advance are that the money must be used for business purposes. Merchant cash advances are not personal funds, so business owners cannot approach a fast cash lender in the hopes of obtaining funding for private projects.

However, Crest Hill capital LLC does not ask for details regarding why applicants are requesting financing, so the funds may be used for anything pertaining to business, including purchasing or repairing essential equipment, bridging cash flow gaps, covering payroll, stocking up on inventory before a busy sales season or taking advantage of limited-time growth opportunities.

These are the typical uses for a merchant cash advance, although the short terms and high rates imposed by Crest Hill Capital LLC suggest that its financing should be reserved for emergencies or pursued by companies that have exhausted other funding options.

Customer-Friendly Procedures

It is important to always take a company’s reputation into consideration before choosing to apply for a cash advance. Even though this company has a Cresthill capital complaints department, some of the major reasons Cresthill Capital has no complaints from their clients maybe because they approve requests of funds much faster than any other institution.

They do not charge anything for the application. They have very flexible terms and competitive offers. They give the client business funds based on the need of their cash flow. It is possible for the clients to go online and apply for any of their respective funding needs. The whole process of application is very simple and in no way complicated.

Also throughout the process, the assistance of Cresthill capital customer service can be availed by the clients at all times if necessary.

Differences between Bank Funds and Merchant Cash Advance for Small Business Funding Needs

Your small business is going well and revenues are coming in steadily every month. You need additional financing to cover unexpected expenses or to invest in business development. You’re considering two borrowing options – a bank and a merchant cash advance from Cresthill Capital. Which should you choose? Here are some tips to help you make a well-informed decision.

How Banks Provide Funds
Banks have traditionally been the go-to service providers for business funds. This was before alternate funding options such as merchant cash advance disrupted the market in the 1990s. Today many companies, including Crest Hill Capital LLC, offer merchant cash advance to businesses in need. The problem with the traditional banks is that they are harder to come by.

Small businesses have to contend with the stringent qualifying standards of banks. For example, banks are not inclined to lend to business owners with a poor credit score. Most likely, you will have to put up some form of collateral.

How Merchant Cash Advances Work
These challenges are eliminated with merchant cash advance products. MCA lenders do not take into consideration a business owner’s credit score nor do they ask for collateral. A merchant cash advance is tied to future revenue. Cresthill Capital reviews an applicant’s past and current sales records as well as past revenue and current revenue inflows to evaluate creditworthiness.

It then matches a client with an appropriate funding source and makes a proposal. In the merchant cash advance model, a lump sum advance is provided. In exchange, you sell a portion of your future sales. If you have a poor credit score, a merchant cash advance may make better sense.

Differences in Time Required for Fund Disbursal
As a relatively new alternate funding option, a merchant cash advance is not subject to rigorous scrutiny. Getting approval from a bank can take months and that too, after submitting a huge volume of supporting documents.

Cresthill advisors only ask for basic business information and business document that prove your business is in sound health and you have the capacity to repay via future receivables. The approval process is simple and fast and you can have the advance amount in your business bank amount within days if required. This is a good solution when you need working capital funds urgently.

Differences in Structuring of Repayment
The structure of repayment is different for banks and merchant cash advance. In the bank model, you typically repay via fixed installments every month. The terms are more flexible with a merchant cash advance. You only pay an agreed-upon percentage of future sales.

If you’re having a lean season with less revenue coming in, the repayment amount goes down and if you’re having a good season with more revenue coming in, the repayment amount increases. The percentage does not change but the actual amount to be repaid can change. This may be a good option if you’re running a seasonal business.

To make the right decision, take into account important factors such as your business goals, business revenue flow, credit score, and risk-taking abilities!

Keep Your Small Business Running and Growing with Merchant Cash Advance Solutions

Cresthill Capital is an organization that specializes in helping small businesses working capital or growth funding quickly on the basis of the unique merchant cash advance payment system. Here are some reasons you may want to apply for working capital funding.

How Merchant Cash Advance Works
A merchant cash advance is different from a business fund obtained from a bank. Banks and other traditional money lenders may not consider your small business funding if you have a sub-par credit score. Moreover, their approval process is time-consuming. This is not the ideal situation when you have a sub-par credit score or you need working capital funding quickly.

In the merchant cash advance model, lenders give more weight to past and present revenues coming in from sales. Moreover, they provide lump-sum funding that is directly credited to your business bank account. In return, you commit to paying a portion of future receivables till the entire advance amount and applicable fees are cleared.

Which Businesses Can Apply?
Cresthill Capital matches small business owners with appropriate funding sources and makes an offer for proposed financing. Clients need to furnish proof of consistent past and current business revenue to qualify. Almost any small business such as a liquor store, retail store, medical store, night club, food truck, an automotive company, etc. can take advantage of the merchant cash advance funding system for operational or growth reasons.

Purchase More Inventory
Even profitable small businesses sometimes struggle to have enough inventory in stock due to a lack of working capital. This can be frustrating in peak season such as the period before Christmas. If you own an independent retail store or a toy store, you may consider a merchant cash advance to buy more inventory and have plenty in stock for customers during peak season.

Invest in Business Development Activities
As a retail store owner, you may be interested in purchasing a new POS system to increase operational efficiencies. You may want additional funds to spend on an advertising blitz. You may have plans for opening a new branch at a different location.

Imagine how disappointing it would be if you lost out on renting a strategic location because the bank was taking too long to process your funding request. In all these situations, a merchant cash advance can be a simple, convenient and attractive funding option.

Cover Expenses in Lean Season
Sometimes, you may need working capital just to keep your business running. Some businesses are seasonal in nature – for example, a pool supply store or a landscaping company. However, they have to cover basic costs such as payroll or rent during the off-season. A merchant cash advance is a great solution because it comes with flexible terms.

You can usually pay less during lean season and pay more when you have strong revenues coming in. It’s best to check the agreement terms because all lenders do not offer the same terms. You may also want to check online Cresthill Capital reviews and customer feedback before deciding to commit.

For simple, fast and competitive working capital funding solutions, get in touch with Cresthill Capital advisors now!

The Importance Of Working Capital In Business Management

Working capital is not really a term that features in your daily business interactions. That said, it is essentially the backbone for a successful business venture. And that’s especially true for small and micro-businesses. The availability or non-availability of sufficient working capital is integral to the overall financial health of an organization.

From paying rent, employee salaries to making payments to vendors for products or even thinking of a business expansion, working capital is what you need to take your business further or to even meet your current business obligations.

Calculating the current levels of working capital as well as preparing a plan for future needs is the first step to ensure that you understand the overall needs of your business. The next step is to consider ways to obtain immediate cash to create sufficient working capital. This is exactly where capital funding institutions like Cresthill Capital feature within the process.

However, let’s first start with a brief on the basic calculations involved in estimating working capital as well as the needs that may call for additional working capital.

Calculating working capital
Working capital is calculated as the difference between the short term assets and the short term liabilities. For such calculations, the present assets like the cash available in a business account as well as those due to be shortly received are calculated.

Similarly, liabilities include the money that’s payable to vendors, creditors as well as that required for operational activities of the company. Net-working capital is hence an indication of the cash flow available within the business to meet current as well as short term expenses.

Often, a crunch in working capital happens during the operations of a small business. This is when capital funding companies like Cresthill Capital come to the rescue of merchants.

Business needs that call for additional working capital
Understanding the availability of working capital helps small business owners to plan their monthly cash inflows and outflows which can further help in identification of the more cash requiring months in advance.

Businesses might often need sudden and extra working capital owing to reasons like expansion plans, bulk purchasing requirements at times of discounts, to pay temporary employees or simply to gear up for a busy customer season. Similarly, sudden additional working capital may be needed to fund business obligations like increased wages, rent, etc.

Leading funding companies like Cresthill Capital reviews the overall sales record of the small business venture and provide quick cash that works as working capital to the tide of the rough patches.

Options for augmenting your working capital
Banks are not the preferred options for boosting working capital. In most cases, they do not find extremely small cash advance lucrative. Other options include using business credit cards. These again have their limitations of higher cost structure rates which add to liabilities. In such instances, taking merchant cash advance from leading capital funding companies like Cresthill Capital are the most feasible and convenient options.

While banks depend on confirming the borrower’s years of experience in the business as well as their overall business plans, capital funding companies like Cresthill Capital reviews the monthly credit/sales record and prepare their repayment plans accordingly. Cash advances are quick to obtain with flexible repayments which make it super convenient for borrowers to manage.

Non-Banking Funding Institutions And Their Benefits

Most business owners automatically think of banks when it comes to their funding needs. While that may still be the most widely accepted approach for large scale business owners, various small and micro business owners find the option of nonbanking funding institutions like Cresthill Capital more suitable for their needs.

These institutions do not have a standard banking license and hence do not deal in holding deposits made by the public. That said, they offer other services like lending small amounts of advance cash based on borrowers credit profile, financial consulting, etc.

Recent times have seen a surge in the growth of such capital funding nonbanking institutions offering serious competition to renowned banks.

The advantages
Nonbanking funding institutions like Crest Hill Capital LLC are a big help to small scale business ventures with an ongoing profitable business but looking for instant access to cash flow for funding their growing business needs. Compared to banks, they offer major advantages like faster processing and availability of cash, flexible repayment options and willingness to take up high-risk investments.

Most business owners are already aware of the multiple challenges that they face when looking for funding from banks. This is perhaps the biggest cause which makes nonbanking institutions like Crest Hill Capital LLC a more convenient option to consider.

Simple application submission processes (without the complicated paperwork as needed in banks), effective teams that offer one to one customer connection as well as the rapid transfer of funds to the bank accounts of business owners make them the preferred choice of most merchants.

Easy repayments
While banks do offer attractive cost structure, the payment terms are often pretty rigid leaving minimal options of flexibility for merchants. However, capital funding companies like Cresthill Capital offer flexible payback options like split withholding where a percentage of the credit card sales are used for monthly/daily pay back the lending institution.

The overall option is significantly more convenient for small scale business owners in need of urgent cash along with easy repayment options that don’t hit hard.

There have been almost negligible instances of witnessing Cresthill Capital complaints from customers/business owners in aspects of repayment of the advance cash advance. This is perhaps one of the most important aspects to check upon when choosing a dependable nonbanking financial institution for your business funding needs.

Crest Hill Capital LLC- A dependable option
Customers often find negligible reasons for reporting Cresthill Capital complaints owing to the high efficiency as well as the capability to manage all types of funding requests. Understanding the needs of its customers, the organization offers multiple programs that are designed to meet their business needs.

While choosing a dependable capital funding organization, it is also important to check the overall market reputation as well as the team structures of the organization.

Leading capital funding institutions like Crest Hill Capital LLC have experienced professionals as a part of their team along with access to the necessary tools and technology required to meet customer needs. Additionally, since a quick response to customer applications is a criterion that attracts business owners, it is important to ensure the same before deciding on a partnership.

Quick Advances To Qualifying Companies By Cresthill Capital

Cresthill Capital is a capital funding company that dispenses merchant cash advances only. They do not give advances to start-ups but only to established businesses who are yearning to expand but do not have the funds to do so. Cresthill Capital investigates the business revenues of the company that wants the advance and based on their finding they decide to help them out or not.

Unlike big banks and traditional companies, they require only basic documents and once the company is found to have qualified, the merchant cash advance is quickly credited into their business account. This is to ensure seamless conduct of business without any unnecessary glitches.

Shore Up Your Working Capital With Cresthill Capital

Cresthill Capital finances independent sales organizations or ISOs, resellers, and small businesses. This is in exchange for a percentage of their credit and debit card sales along with a fee. The repayment is done daily until the full amount is repaid. Your credit score or your lack of collateral does not matter to the experts at Cresthill Capital.

It is important to note that this is suitable only as a short term financing technique. This method of financing is suitable for a wide range of businesses. It may be necessary to shore up your working capital, for unexpected emergencies and debt payments, for inventory purchase, or for other reasons.

Expansion Plans With Cresthill Capital

Starting a business is not easy. You probably have to invest all your savings in setting it up. When the business takes off and you find that your services or products are in demand, it becomes necessary to expand the business either by adding in equipment or personnel. Either way, this involves money which you do not have. Your bank may be unwilling to risk advancing you money since your credit score is not healthy.

It is at such times that merchant cash advance companies such as Cresthill Capital come to your rescue. They advance you the money with minimum investigations with the only caveat being that a percentage of your daily credit card and debit card sales is given to them. It would do well for you as the business owner to do your own homework and check out any reviews about the company before you go into an agreement.

Finding The Right Funding Solutions For Small Term Operators

Cresthill Capital reviews have generally been positive In the event of negative reviews, they take efforts to address it and rectify whatever has gone wrong. Their team of professionals is drawn from different backgrounds and have detailed knowledge of different types of industries. This helps them to find the right funding solution for each company that approaches them.

My Business Took Off Better Than Expected, But I Need Funding to Grow

Starting a new business and having it take off better than you expected is always good news. The only problem is you may not be able to handle the increased business yourself. Depending on the business, this may not be a big problem, but if your business is software services, like building websites, you may need help. You also have to hire someone that is skilled.

You could take on freelancers for the short term, but you know that you will need a full-time employee. Even if you can make do with freelancers you have to pay them and they will likely want some of the payment upfronts. Though you set aside funds for software costs and more hardware, you weren’t expecting a payroll expense and the software or service you may need to handle that. You want your business to keep growing, so you don’t want to turn down work. What do you do now?

Can You Go to the Bank for Help?
Banks aren’t always willing to give you a cash advance for this type of problem. After all, they have no guarantee that after this sudden boom the customer base will continue to grow or the customers you have will continue to need you, though you know they will. Websites cannot be static or they will fail to bring in the business your customer is looking for.

This is where a capital funding company like Cresthill Capital comes in. These companies are dedicated to helping micro and small businesses get the funding they need to get over these kinds of unexpected changes to your business.

You need enough money to cover the salary and the software or service to handle the payroll that you are now responsible for. You have set up your business so payment from your customers is expected 30 days after the product is delivered and accepted.

Once these accounts start paying regularly, you will be able to handle the additional expense, but until them, you need a merchant cash advance to pay the person you hire and secure and set up the software or service for your payroll.

How Can These Companies Help Me Fast?
Cresthill Capital reviews your revenue stream and receipts and also review how you allocate these funds to reinvest in your business and to pay yourself. In this case, they would also review the salary you intend to pay to see if it is in line with current practices. Once you are considered to be a good risk, they will work out the repayment details.

Once the contracts are signed you can have the funds you need within hours and you can confidently hire your first employee. Prior to signing any contract, make sure you look up things like Cresthill Capital complaints. This will show you how the company you are considering handles people who are not happy with the decisions they made.

What is a B2B Reseller?

B2b resellers are everywhere but you just don’t realize that this is their business. One example of business resellers are salvage yards. They buy cars that people junk and remove the parts. They then sell the parts to consumers or auto repair shops that want to give their customers a good deal, especially if they don’t care if the part is used.

Businesses can also list on Amazon and sell to other businesses or to consumers. If they sell to other businesses, they are B2B resellers. There are hundreds of ways one can become a B2B reseller. The key is to have a product or service that you are an expert at, market it well and above all be honest about your product or service.

Small businesses, in particular, can use resellers, especially for online sales. They may hire someone to write up product descriptions and other online content that requires writing or photography skills. The consultant they hire may not be able to do this themselves, but they will find other companies that do writing and photography and contract with them to do the required work.

Those people are B2B resellers. They purchase the service they need from one company and then resell it to the company that hired them.

What Would Capital Funding Do for a Reseller?
In order to find the business, they need to be able to make their own business thrive and grow, they have to market themselves. They have to either have the people with the skills they need to contact them or they have to find them. They also have deadlines to meet.

The customer that originally contracted with them will give them a certain amount of time to produce what they need. The product must not only be on time, but it must meet the expectation of the business owner purchasing it.

If the business they contracted with to provide the service or product looks likely to fail to meet the deadline, they will have to quickly find someone else that can. This will likely increase their costs since the deadline is far shorter than it was originally. This is where a company like Cresthill Capital comes in.

They can quickly provide a merchant cash advance to the consultant to offset the unexpected increase in expense. This is the advantage of a capital funding company as opposed to a bank. A capital funding company can provide the capital needed much faster than a bank.

Do Capital Funding Companies Just Hand Out Cash?
In a sense, yes, but they do have standards that must be met by the company they hand out the cash to. A company like Cresthill Capital reviews the past performance of the company that is requesting the funds. They will look at the revenue stream that has been generated, the business model the company has, how they use the revenue they receive and other factors.

This gives them a picture not only of the viability of the company’s business model but also if the owner is wisely investing the revenue back into the business. Once they determine that the risk is worth the cash advance, the repayment terms are agreed upon and the contracts are signed, within hours the consultant can have the needed fund deposited in their bank and they are back in business.

You will also want to make sure to look up things about the company you are considering. For example, look up Cresthill Capital complaints and reviews to see what former clients have said about the business and how they conduct themselves.