Funding plays a crucial part in the survival and success of a business. A business without funding will crash within its own expenses. And, this is true for everyone! It is a proven fact that the number of resources and the amount of funding committed for the development of an area of a small or medium business has considerably increased the quality of that area. Besides, it has also strengthened the country’s economy. Hence, it is really important to understand funding SMEs is a way of establishing the country’s economy.
Alas, there are a few financing sectors that don’t get this fact. Ever since 2008, the traditional channels have become rigid. They have tightened their terms and conditions, raised their criteria for a credit score, and increased their thirst for heavy collaterals. Besides, when the world is opting for faster and shorter methods of documentation, this financing channel is still an ardent follower of hours of long documentation. In short, the traditional channel has made itself a near-impossible option for SMEs to achieve.
For every problem, there is a solution. And, alternative funding is the answer to this problem. Firms like Cresthill Capital/Mantis Funding has evolved the financing sector in a way that no one imagined. Though, initially, there were some worrisome comments regarding the working and flexibility provided by these firms, but, their decade long existence and rising popularity among SMEs have ended the debate surrounding their funding culture.
Alt-fin firms are the reason why financing has evolved over the decade. With their AL/ML backed system, they have reduced the documentation time substantially. Besides, this is the reason why they are able to approve the funding amount for an applicant within 4-5 days or, in some cases, 24 hours!
Unlike traditional channels, their funding criteria are very different. They don’t consider the regular high credit score or heavy collateral as the sole measure of a businessman’s credibility; rather, they have defined parameters like social behavior, the expense patterns, transaction history, revenue stream, model of the business, reasons to claim the fund, etc.
Funding is done only after they have done a proper background check of their applicant. Also, they have a dedicated team handling platforms like Cresthill Capital Complaints to ensure that their customer’s queries and problems are solved as quickly as possible.
Why Cash Advance is the Best Method?
As mentioned, irrespective of the size, funds play a crucial role in the development of the business. And, there is no hiding the fact that SMEs go through a tough time in preventing their business from a famine cycle. However, in doing so, they are unable to keep up with their credit score and heavily face a loss in their collaterals. This is where funding like that of a cash advance can help them.
Firms like Cresthill Capital/Mantis Funding has designed this to help a businessman to overcome their worst nightmares. Cash Advance is an immediate relief provided in exchange of future debit or credit card sales. Apart from building a strong reputation, a cash advance can be handy in a situation like unexpected fare increase, a rent hike, demand in hiking of payrolls, a sudden expansion, etc.
Also, alt-fin firms ensure a flexible repayment schedule, in tandem with their client, while completing a deal. They know the troubles an SME owner has to go through and, hence, work to design repayment in a way that it does not hamper the pocket of their client.
Cresthill Capital Advisors | Cresthill Capital Finance 