How Alternative Funding Is Helping Business Owners In Growing Their Businesses

Alternative funding has turned out to be a blessing for SMEs. In the past decade, this service has supported millions of small businesses across America and has helped them to grow and become a changing force in their respective fields.

Hence, the topic of discussion here is how alternative funding is helping hospitality service owners in growing their business with the help of funding firms. Let's see with the help of some case studies:

Has Helped Businessmen In Opening Their Branches In The City.

Sebastian is a successful 37-year-old pharmacist and is a pharmacy owner in New York. He opened his first pharmacy five years ago, and its successful run has allowed him to plan his franchise by opening another store.

However, his struggle began when he wanted to purchase the place in his preferred area. He first approached banks for financing but only to know that the banks were only going to finance the mortgage charges for his medical store. This led to a question, and that was, what about the stocks, equipment, and staff? This is where he referred to Cresthill Capital for a significant financing offer.

After going through his existing business transactional data, Cresthill Capital approved a business line of credit to cover his entire medical store expense. Sebastian used this line of credit service judicially like a credit card and is now planning to open another branch.

Extending A Trucking Business Service

Mark owns a trucking business that operates in New York and its adjacent places. For years he has complemented the family income by his leftovers from the trucking service. Owing to the seasonality of the business and continuous cash crunch, Mark was thinking of elevating his business by getting more vehicles so that he can get more from what he does. Thus, after a chance conversation with his brother-in-law, he came to know about the benefits of alternative online funding. And, this got him thinking about exploring this option to get funds for his business.

As he is looking to strike a balance in his business, he consulted Cresthill Capital and took out a merchant cash advance from a funding company against his trucking service. This has helped Mark to get the balance he was looking for; further, he has hired more staff for his business and is now thinking of expanding his service to other states.

Helps In Remodeling

Todd wanted to remodel his retail shop. In this day and age of technology, Todd had a traditional retail shop. Due to this, the millennial population of his area skipped him for super-mart in the mall. And, this made things difficult for him in terms of making a profit. So, he decided to remodel it. However, he had enough money to change the look of the shop.

He knew what he wanted to do, but he needed money for the equipment and stocks. This is where he explored a few alternative online funding options, and after going through Cresthill Capital reviews decided to call in and discuss the prospect of the firm's role in his plans with a team member.

He concluded that he wanted to opt for cash advance for the store's remodeling. Since the outlook changed, the sales are increasing, and the profits are back.

These are just a few cases where alternative funding has played a crucial role in the success of a business. Therefore, it is good to say that alternative funding works well for SMEs.

Alternative Funding And Financing Tips For Women Small Business Owners

Over the last few years, the number of women-owned businesses in the U.S. has grown by 45%, which is five times faster than the national average in the country. The data indicates that more women are coming to the forefront to start their businesses. So, it makes sense to have alternative funding options, specially designed to encourage women, small business owners.

(Read through Cresthill Capital reviews for more insights). Going the traditional way has become difficult for small business owners since the 2008 recession has hit us hard. A Dun and Bradstreet and Pepperdine University study reveals that only 30 percent of women small business owners get successful in passing through the traditional way as compared half of all the business owners.

With all these in mind, if you are wondering how to kickstart your small business with limited funds or give your business a little bit of extra boost, then alternative funding is the best way to go forward. Take a peek at Cresthill Capital offers to get details.

Alternative funding options for women-owned small business owners

There are plenty of online lenders and alternative funding options where you can find ample funding options to give that extra little push to your small business. If you’re skeptical about them, read Cresthill Capital reviews and see what other business owners are saying.

Designed for women or not, most of these alternative funding options are perfectly designed to meet your business goals. From short to long term with favorable repayment terms, alternative funding comes as a boon. Let’s understand the different alternative funding options available for small business owners.

Merchant cash advance: If you are going through a short cash crunch, a merchant cash advance may come in handy. Different merchant cash companies offer to lend you cash – the amount could be anywhere up to $200,000. If you have an immediate cash requirement, then go for a merchant cash advance. Since the approval time is minimal (no more than 24 hours), you can expect to have the cash in your hand within a day.

It is a perfect solution when you lack a few hundred or thousand dollars to give help your business. The repayment terms are flexible and easy, usually lasting only for a couple of years. The working principle of merchant cash advance is simple. It lets you take the benefit of your future income to access cash in the present. Once you receive the fund, you can repay it by a percentage of your daily credit card deposits, which is usually withheld by the cash lender.

Equipment financing and leasing: This is another form of alternative lending that helps many small business owners, including women small business owners. If you think you need equipment to do your job better, then you can make use of this financing option to purchase the equipment. On the other hand, equipment leasing is a perfect solution for those who don’t want to block their cash inflow by purchasing a piece of equipment that might not be in use long term. Equipment leasing is the best option for them.

Check out Cresthill Capital for all your alternative funding queries - they run a very minority centric business model that encourages and supports diversity in business. They have gone the extra mile to design several women-centric funding offers that offer extremely good rates.