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.