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!