Ways to Upgrade your Medical Store with a Cash Advance

Medical stores have seen a decline in traditional prescriptions. To remain profitable, they need to look beyond conventional methods and find alternative streams of revenue. With the help of companies such as Crest Hill Capital that offers cash advances, pharmacies can now implement added services and programs that will increase revenue and keep customers happy. Here are a few ways in which pharmacies can upgrade their stores with a cash advance:

 

1.       Revamp Your Stores' Front-End

 

Working on improving your medical store's front end can produce tremendous results. With the advance of technology, pharmacies need to stay abreast of recent developments and implement them. As a medical store owner, you can cater to patient demographics and proactively order items based on the need in each area. You can also stock up on items or quickly deliver special order items for patients and customers. Clients who have made use of a cash advance have had no Crest Hill Capital complaints are quite satisfied and happy with the financing they receive.

 

2.       Invest in the Right Inventory

 

When you study the purchase pattern of customers, it can help identify products that are sold quickly, the right time to promote a certain product, and the products that are needed to be kept in stock. This would also help to recognize and retain loyal customers. If the medical store is located in a high-end area, you may see an increase in sales in products such as cosmetics, perfumes, and more. However, lower-income areas may sell more generic products. With a cash advance, you would be able to invest in buying the right inventory based on your customers' requirements. 

 

3.       Regular Maintenance

 

Simply revamping the whole store is not enough. It's important to maintain the building and the parking lot to attract customers and increase sales. Most pharmacy owners fail to invest in thorough maintenance but would rather do a quick job themselves. In order to maintain your store in good working condition, hire some external help to do the painting, or any repairs or other maintenance jobs that may be required. This is where Crest Hill Capital can help. It is impossible to find any Crest Hill Capital complaints as they help small businesses deal with their day to day operations and hence is the safest and quickest way to get the finances you need.

 

4.       Maintain a High Quality of Products

 

It is important for medical stores to maintain a high quality of products that are sold. High quality equals higher customer satisfaction, and this can lead to an increase in repeat orders. If a customer finds your products to be of lower quality, the chances are that they would try to find alternatives, and you may have lost them forever. If you have a budget constraint, you may end up compromising on the quality of products you stock. However, Crest Hill Capital can help with your financial needs so you can keep stock of high-quality products that won't let your customers down.

 

5.       Expand Your Horizon 

 

Cash advancement can also be used to help medical stores expand their services. With extra finances, you can invest in value-added services such as immunizations and vaccines, thus, helping communities around you. You can also invest in point of care testing. Many states allow pharmacists to administer tests for certain infections that produce rapid results.

There are many different ways in which you can upgrade your store with a cash advance. Go ahead and apply today to discover new ways in which you can take your store to greater heights. 

How to Grow Your Business in the Post-COVID-19 Era

The global pandemic caused by the novel coronavirus has taught us that far too many workers in America are only a missed paycheck away from financial wreckage. On the bright side, though, this pandemic allows us an opportunity to re-engineer our economic system to make it more inclusive and sustainable. We must respond and recover from COVID-19 by re-engineering a future around economy-boosting careers and businesses. And in order to have a positive impact on the upward trend of your business, the most important factor is adequate funding. Crest Hill Capital, a leading business finance lender, offers the best working capital solutions for small businesses.

Brief Summary of the Current Situation

The unemployment rate from February 2020 onwards has increased considerably. This basically means that there are millions of people who have become unemployed. Workforce reductions were primarily focused on places where there was more ‘person-to-person’ interaction, such as education, hospitality, retail, health services, and leisure. As social distancing reached its peak around April, consumer spending fell when compared with February. Everything from the car and light truck sales to mortgage applications declined due to this rippling effect. Typically, smaller and newer businesses were hit harder as they had a less financial cushion.

Online Presence & Digital Marketing

The COVID–19 pandemic is here to stay until an effective vaccine is found. This should not be a deterrent to run a successful business. This would be the right time to invest in technology where you make your presence known in the digital marketplace. In these trying times of the pandemic where social distancing is the new norm, customers prefer to make their purchases online, whether it is food, groceries, or even medicines. And this trend is set to continue until we get the vaccine. Not having a website or an online portal or an app where customers can efficiently and effectively make their purchases could have a detrimental effect on your business. You will need to invest in upgrading your technology as well as for digital marketing to reach out to your potential customers to make this entire experience a holistic and seamless one. With the convenience of opting for a cash advance from Crest Hill Capital Limited, you will be able to meet your financial requirements to keep you at the top of your game.

Meeting Day-to-day Expenses

In order to meet your fixed expenses such as staff salaries, inventory, utilities, and rent, you would require some amount of revenue. If these expenses are not met by revenues generated, they will pile up over time and cause stress and anxiety. In the best interest of your business, it is imperative that these expenses are not ignored. Timely financing in the form of a merchant cash advance is perhaps the best option at this stage, with flexible repayment terms as provided by Crest Hill Capital Limited. This will enable you to meet your financial requirements at critical times with a hassle-free process.

Fuel your Expansion Plans

You could look at expansion by opening a new store, adding more space to your existing store, or by diversifying your business, which will leave you with more opportunities to improve your portfolio. The best time to experiment with diversifying is when the market is down. From here on, the only way to go is up. The year 2020 has been a year of trials so far, but with a little planning and help, the well-experienced team at Crest Hill Capital can make the rest of the journey a very successful one for you.

How Have Alternative Funding Firms Outclassed Traditional Channels?

2008 was a year of great significance. The Great recession loomed over and threatened to shake the world's economy. With the world undergoing a state of panic, small and medium businesses were unsure of their future, like any other business. Although the big MNCs were adept in saving themselves, thanks to the help they got from traditional channels, small and medium businesses were made the scapegoat of the imminent financial crisis. 

They were neglected, and this was asserted by the rigid terms and conditions of the traditional funding. In a time where it was hard for MNCs to maintain their profit, the traditional channels demanded high credit scores and heavy collaterals from these SMEs. Moreover, the documentation was tedious and time-consuming. Perhaps, it is right to say that traditional channels created a boundary between its elite and regular clients, where the latter was subject to an act of time-wasting. 

From an SME owner's perspective, it was indeed a very tough time to endure. Nevertheless, as mentioned before, 2008 was the starting of something very important. Maybe, it was the time to look at things differently and change the way things were done. 2008 marked the rise of alternative financing. Firms like Cresthill Capital/Mantis Funding came into prominence. They provided a sigh of relief to the sufferings of SME owners. Alt-fin firm's model of funding gave importance to fast cash advance. They understood that SMEs have day-to-day tasks and challenges that may range from a hike in payroll to updating an inventory for the upcoming season. Hence, they introduced extremely flexible cost structures and repayment options. 

 

Furthermore, they developed policies that were meant to elevate the status of small and medium businesses. Their criteria were based on credit scores or collaterals. As per their model of financing, they gave importance to factors, like revenue stream, past bank transactions, social behavior, etc, that depict the true creditworthiness of the applicant.  

Moreover, alt-fin firms worked to create a pipeline to facilitate smooth and fast transfer of funds. They know that SMEs rely largely on money for their stable operations. And, the lack of it is nothing short of a nightmare for the owners. This is where firms like Cresthill Capital/Mantis Funding have been very successful. They have devised a range of funding options like that of a cash advance, trucking financing, nightclub financing, etc., to aid the different businessmen's needs. 

 

Also, to support the applicant, they have designed a documentation system that can be completed in a matter of few clicks. And once they are done with their background checks, which are powered by their AI/ML systems, they ensure that the funds are transferred within a matter of 3-5 working days. In cases of emergency, they will work to provide you funds within 24 hours! Yes, that's the level of their operations. Moreover, they have a team of professionals who diligently handle platforms like that of Cresthill Capital Complaints. Here they work to resolve any query or issue raised by their applicants as soon as possible. 

How Can Alt-Financing Help an SME in Developing a Stabilized Income Stream?

A business without ups and down is nothing! Always remember, smooth seas never made skilled soldiers. This is the reason why a small or medium businessman should not fret with any kind of financial obstacle. They should be brave enough to deal with it and find better ways to come out of it.

However, sometimes one is bound to wonder that do all businesses have the luxury to fight their financial crisis? Of course, the big league players know how to do it but what about the small and medium enterprises? How do they handle a financial avalanche? And, who is going to help them? Traditional channels are surely not the ones. If they were anywhere close to doing it then they wouldn’t have set such tough and rigid restrictions.

Hence, the question to this “who” is alt-financing firms like Cresthill Capital/Mantis Funding. They understand the various undeniable day-to-day financial variances a small and medium businessman faces. Besides, their quest for quick cash is something that only they can fulfill.  They go about their unique and ideal way of providing funds to them. These funds come with easy repayment options and act as a crucial supplement of growth in the venture of an SME.

Any businessman starting from a span of three months in the industry can apply for funds and ask an alt-fin firm to partner them in times of crisis. With customized deals and unique terms, these firms work to provide funds within 5-7 days of approval. In case the requirement is very urgent, they can make it a special case and process the funds within 24 hours! Apart from that, they have a 24 X 7 working hotline and customer help system in the form of  Cresthill Capital Complaints. This platform is solely made to resolve and clear any rising issues within the consumers.

How do I know I am eligible for their Cash Advance?

Before you go any further, you must and should know that they don’t consider the regular high credit score or heavy collateral criteria as a way to provide funds. Hence, anyone suffering from any or both the aspect are eligible to apply for funds.

However, what firms like Cresthill Capital/Mantis Funding really look for is how well are you regulating your income stream. Does it have too many fluctuations? How do they deal with these fluctuations? How exactly you are deriving your income? What is the client base? How do you intend to reinvest the working capital? Aside from this, they also listen to your reasons very carefully and try to figure out the sense in it. If they are satisfied with everything then there is no stopping you from getting approved.

A Vision to Secure SME’s Future!

Well-settled businesses don’t have to face those insecurities and instabilities that SMEsgo through. With appropriate cash reserves, they encounter every situation with ease and comfort. Besides, their heavy collaterals and good credit score are sufficient to impress the traditional funders.  However, the same is not true for small and medium enterprises. 

To bridge undue advantage and provide a fair chance to SMEs, firms like Cresthill Capital/Mantis Funding provide funds with a flexible repayment system that ensures that the SME owners don’t face the burden of repayment and the liquidity is smooth. This, in turn, works well to safeguard the future of the SME’s by improving their credit score.

Why There Is A Need For Businessmen To Make A Shift Towards Alternative Funding

The market is changing every moment. Further, the extensive use of the internet has made it necessary for businessmen to adapt quickly to the changing demands of the market. Thus, making survival a synonym of victory.

Market, today, is regulated with trends, and the constantly changing customer demographics demand constant growth and innovation.

Nevertheless, wanting to expand a business and literally expanding it are two different tasks. Though generating ideas, having a vision, and planning its execution cost less but putting it in action is!

This is where 90% of businesses falter due to money issues. However, online alternative funding has paved the way for the growth of many businesses. Let's see how:

Stepping in to provide funds for expansion of SMEs

Alternative financing is playing a pivotal role in the expansion of SMEs. As compared to traditional sources like banks, who were default choice for receiving funds, business owners are now looking for alternative financing firms like Cresthill Capital and Mantis Funding as their first preference to receive funds. 

One can denote these aspects for such a shift:

Providing funds in no time:

Expansion opportunities are time-bound and require quick approval and funds to begin the turnaround; however, traditional funding firms don't favor such a thing.

But the presence of companies like Cresthill Capital and Mantis Funding is changing the scenario of financing. They work at a pace that ensures that the approval process is efficient enough to help their clients with money within 2 to 3 business days. If there is any sort of urgency, then they make sure this process happens within 24 hours! Indeed they are fast.

Easy financing

Facing difficulty in getting funds is quite common among SMEs. Further, they need to grind a lot to get their credit score up to the desired level of the traditional financers.

Since improving credit scores require time; this itself further reduces their chance of getting funds from the traditional funders. This is where alternative financing firms like Cresthill Capital and Mantis Funding come into the action. They have flexible cost structures, and instead of looking for credit scores, they look at business transactional data.

By going over the Cresthill Capital Complaints, one can determine the expense pattern to know whether a company and its owner will be able to repay the funds.

Here for the SMEs

The business model of the banks is based more on the big firms who have been doing well over the course of time. They augur well for those ventures which have bigger needs or having collaterals.

This is, perhaps, a reason why they are a bit apprehensive when it comes to financing SMEs. Probably, this is why alternative financers came bursting into the scene. The business models of these firms are designed in such a way that they can serve the regular demands of SMEs and the individuals regulating it.

There is no hiding the fact that small and medium scale businesses are getting benefited by the presence of alternative financing firms. Days are not far where they will be the mainstream contender to establish themselves as the financial service giants.

MSMEs Continue to Thrive in the Alternative Lending Sector

Time and again, the alternative lending industry has proved to be resilient and robust. Economists are clear about the positive impact of alternative financial services on the health of medium and small enterprises, even when traditional banks seemed to have restricted themselves. This robustness has made alternative lending one of the top favorites among entrepreneurs and small business owners. But why and how? Let's delve.

Higher Approval Rates

Crain's Cleveland's report, back in 2013, created huge waves by highlighting the declining trend of traditional bank lending for small businesses, among other financing options. The trend has continued since then, and the primary reason cited is the higher approval rates.

When you are a businessman, running a medium or small business, grabbing the right opportunity at the right time matters more than anything. There is no luxury of trial and error, or let's wait it out. A business owner, when faced with the right opportunity for expansion, would need financing promptly.

The long, arduous approval process of traditional banks proves to be the most significant deterrent in these cases. The speed and the ease, with which alternative lenders like Cresthill Capital and Mantis Funding operate, prove to be more beneficial for expansion growth-seeking startups.

A Holistic View Of A Credit Seeker's Worthiness

Alternative lending models no longer rely just on credit scores to access the creditworthiness of the lender. In fact, companies like Crest Hill Capital and Mantis are preferred by businesses due to the varied sized cash reserves they offer independent of credit scores.

Alternative lending sources use other methods, including digital data, to assess risks of lending to a particular borrower. These non-traditional data sources provide a better and holistic view of borrower's financial performance. Income tax returns, sales, revenue, outstanding invoices, utility payments, and cash flow statements give a better view of the business than just one credit score.

This model is proving successful and reliable, leading to better performance by alternative lenders. And of course, the alternative data model generates hope for small businesses and startups who do not have a stellar credit score.

Greater Flexibility And Fewer Hassles

The alternative lending industry provides yet another benefit of greater flexibility. Since they aren't banks, they have no capital requirements like traditional banks and are mostly unregulated by the federal and state governments. This allows them to offer greater flexibility to their borrowers in the form of repayment schedules and exemption from collateral.

Companies like Cresthill Capital receive excellent reviews for their collateral-free flexible small business funding. Less documentation further accelerates the process. This flexibility and fewer hassles are like the holy grail for startups looking to expand operations but face restrictions in the form of collateral unavailability.

The alternative lending industry is no doubt helping medium and small enterprises boom. They are facilitating easy credit flow to the sector that has largely been dealing with capital constrictions. And with the dawn of a new decade, the modern technology-driven alternative credit industry brings more hope for them.