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.