Why Alternative Finance is the Best Option to Fetch Funds for SMEs Growth?

Financial barriers are like strong water waves that create fluctuation in the growth of small and medium enterprises. The worse part is that these SMEs have to face them. To add to this, the policies laid by traditional channels after the Great Recession in 2008 mobbed SMEs path towards success.

However, does anyone know what the fun part is? The fun part is the presence of alt-financing firms like Cresthill Capital. They are like surf-board that help an SME owner to surf his way through these damping waves. These firms understand the pain and struggle of an SME. The people who are providing help, and are working to ensure that they stay up-to-date with the change in the financial sector, are one of those SME owners who faced a lot of rejection to get the necessary Vitamin-M for their ventures.

Yet, here they are working hard to ensure that other SME owners don’t have to worry about their working capital. In a credit-centric market, they are the ones who have a different outlook to gauging a client’s business approaching them for help.  

With a decade’s experience in their kitty, firms like Cresthill Capital are here to ensure that small and medium enterprises obtain what they deserve, and that is Funds! They want to see them grow, thereby, see themselves grow with them.  

In case of wondering why alt-fin service and not traditional channel, we will urge you to read this below-mentioned points to answer the why’s:

Credit and Collateral is a Thing of Past

What are the points one can lay when it comes to defining reliability of a businessman?  For sure a good credit score and heavy collateral is the first thing one can think of. However, the scenario has changed. Having these two is not the only criterion to fetch funds, at least from alt-fin firms.  

Innovation took over the financial sector and alt-fin firms like Cresthill Capital reviews the transaction details, expenses, and many more aspects to measure the creditworthiness of a businessman.

You Get What You Want or Better than You Want

There has been a taboo over the fact that traditional channels are still not comfortable in providing the exact amount as stated by the SME owner. Despite showing their trustworthiness, these SMEs have to listen to many different and inconclusive reasons before receiving the lump sum amount. 

However, the same is not true for alt-fin services. Precisely, they are customizable services working to help SMEs grow. Since firms like Cresthill Capital work and partner with big businesses, they are able to boost a profound pocket which ensures that SME owners get what they need.

With an integrated framework that prioritizes adaptability, these alt-fin firms are able to design a deal that is efficient or more than efficient to provide quick relief or a sudden growth or whatever their customers are looking to with the funds.

They are really quick!

Unlike traditional channels, they believe in delivering funds in real quick time. With an ML/AI amalgamated system, they ensure:

●        Quick Application processing

●        Fast Documentation

●        Speedy Reimbursement

If in case, their client has an urgent requirement, they work to provide funds within 24 hours! Now that’s rapid. 

Funding is the most important aspect of growth and success. Besides, the timing of funding is something that is way more crucial than anything else. This is what they understand and firms like Cresthill Capital reviews the application in a way that they don’t have to give an opportunity to their owners to call them twice or thrice for a reminder.

5 small business trends you should be prepared for in 2020

The Internet has turned local markets into global ones. Globalization and eCommerce have made competition harder but, at the same time, opened broader and newer markets for everyone. Now even small retailers can reach customers on the other side of the globe, but must also contend with rivals spread across continents. Hence, it is critical that you keep your finger on the pulse of changes happening around you.

I recently put together a list of some critical trends that EVERY small company must invest in. Now depending on your particular industry and business, you can decide how much investment you want to expand on each of them – but one thing is certain; you can't ignore any of them.

1. Personalized Customer service: Customers have come to expect and demand faster services and tailored solutions. They expect more than just a straightforward buy and sell arrangement, they want to know the business and be a part of its journey. They want to feel a connection. To create this intimacy, many businesses will have to implement some sort of solution that shows special love to their customers. This could either be excellent in-store customer service, focused ad campaigns, or hyper-personalized products – depending on your industry, you will have to come up with innovative ways to connect meaningfully with your target audience.

2. New digital media: Digital marketing has become more competitive in the last year or two. The field is getting increasingly crowded, and budgets must expand to get results. Also, 2020 sees some drastic changes - voice search is growing by leaps and bounds and is all set to be the next big disruptor; content marketing, albeit with video as big part of it, is going to take the lead in maintaining online brand reputations and organic traffic is losing steam. There are too many people putting out great social media content, you have to put in the money to get traction in the market.

In short, find new channels or put in more money.

3. Online reviews become even more critical: For many small businesses, especially the ones in retail, food, or entertainment industries, online reviews are now even more important than before. To make a 100% positive customer experience, in reality, you have to invest in online reputation management. Just like social media – trying to get organic reviews is an uphill task. You have to reach out proactively to customers, be exceptionally responsive and hire professionals to manage your online reputation.

4. Sustainability: The need of the hour is sustainability! It is critical for ALL businesses  - regardless of size and industry – to go green. It is vital to the environment, and the customers demand it. There is a huge uptick in clients inquiring about the sustainability credentials of businesses, and they are now willing to pay extra and change brands to help the earth.

5. Cybersecurity: While small businesses - especially the ones with a location or store - are usually more worried about their physical security, but now it is time all of us start thinking about cybersecurity too. It is reported that 43% of cyber-attacks are focused on small businesses, and no industry is off limits! You are not too small or too offline to escape, and it is imperative to put some safeguards into place.

Now, clearly, the only thing stopping business owners from keeping up with these trends is MONEY. Here I suggest you follow my example! I wanted to implement measures to keep up with my industry trends and approached New York-based alternative lender – Cresthill Capital for a financing offer! It turned out to be a sound decision! I have no Cresthill Capital complaints and recommend you try out alternative lending institutions too.

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.

Top 3 Services That You Can Outsource With The Help Of A Cash Advance

Most business owners would agree that running a small business is simply time-consuming. Managing inventory, production, serving customers, marketing, and dealing with staff are just some of the things that need constant attention. Where is the time to do anything else?

However, you could be using your expertise and mind space to think of new expansion plans, but that won't ever end up happening unless you take the time to think and experiment.

The answer to this dilemma is simple – outsource your work to experts with the help of fast, easy, and flexible cash advances from alternative financing companies like Cresthill Capital. So, here’s a list of some affordable business services that you can outsource to grow without compromising on quality:-

1. Customer support - While at the start of your business, dealing with customer calls in-house would have been manageable, with a growing business it can become more and more difficult for you and your staff to answer phone calls for several hours a day.

Here, applying for a quick cash advance for outsourcing to a call center with experienced staff is a great idea. Not only you get a trained professional handling your calls, but you also access the latest cloud-based call center software.

2. Marketing - There is little doubt that marketing is a specialized job. A quick look at the plethora of digital and social advertising options will be enough to convince even the most DIY business owner that hiring a professional agency or even a freelancer will get them better ROI on their advertising budget.

According to recent Cresthill Capital Reviews, while you might be able to manage social media posts and engagement in-house, utilizing a flexible cash advance for hiring a marketing agency will give you access to a professional team, strategic ideation, and the option of accessing add-on services.

3. IT - With new digital innovations bursting on to the business landscape with increasing regularity, it is not possible for you as a business owner to single-handedly find and leverage the best tools for your business. But thankfully, with several competitive IT service providers, you won't have to.

The only time and effort you have to spend on are applying for funds through an alt-finance company like Cresthill Capital and then hiring the right digital partner with that money. After that, it is their job to manage your existing business IT infrastructure and advise you.

So, if you feel that your business can profit from any (or all) of the services mentioned above, then don't waste time. Apply for a merchant cash advance now! As you know cost benefits will take some time to trickle in, Alt-funding can help with these increased costs.

Also, if you go through Cresthill Capital Reviews, you’ll find out that it is a company that is committed to helping small businesses grow by giving them access to timely, flexible, and fair business financing.

So, do get in touch and start expanding your business today.