Cresthill Capital

Every business needs funding. You might have started your small business with a collective fund from friends and family or your own nest egg. But, in the long run, you will need financing to grow your business. However, today the biggest hurdle for small business owners is to secure finance to grow their businesses.

The traditional options have stringent rules and want the small business owners to be stellar performers to get their finance request approved. Alternative financing comes to rescue for all those small business owners who are stuck and in dire need of cash flow. There are different types of alternative funding – each has its specific criteria and benefits. In this quick guide, we will talk about different alternative lending options for your small business.

Merchant cash advance: It is a type of alternative financing that is available online and is easy to get with a fast approval rate. Merchant cash works this way – it is an advance payment that is given by the lender based on your future earnings. The lender will then recoup the advance and the interest based on your daily sales. So, you pay more if you have more sales and pay less if you have fewer sales. In short, the amount will vary depending on your daily sales.

Line of credit: This works similar to a credit card. You are approved for a large amount and can withdraw a certain amount of money from this limit when you have a cash crunch. You need to pay the interest only on the amount you withdraw. Line of credit is a good online financing option if you don’t require a specific amount of lump sum cash but have an occasional cash crunch. For example, to meet payroll during the offseason.

Equipment financing: The term is self-explanatory. You can use this type of financing if you need to get equipment to run your business. If you are looking to purchase a piece of equipment for long-term use, you can borrow money for the down payment of the equipment. If you are looking for a piece of equipment for short term use or if you need to upgrade it frequently, an equipment leasing is the best bet for you. Both options come under equipment financing.

Invoice factoring: It frees up cash from outstanding invoices. The factor or an invoicing purchase company will buy your unpaid invoice with an upfront payment of a part of the invoice. The factor will then collect the due amount against the invoice from your customers and will send you the remaining amount after deducting a fee. If you frequently face cash crunches due to delayed or slow payments from clients, then you can benefit from invoice factoring.

Crowdfunding: Crowdfunding is another alternative financing option where you raise funds from your friends, family, and network online. There are different types of crowdfunding models – debt, rewards, equity, and charity. However, crowdfunding is only appropriate for a handful of business types.

If you’re looking for alternative funding, Cresthill Capital is the best place to begin your search. Read the Cresthill Capital reviews before you make any financial decisions.

A business line of credit resembles a safety net! What’s more, similar to all safety nets, it is generally helpful for entrepreneurs. This kind of funding offer is regularly utilized as working capital for meeting month-to-month expenses, for example, purchasing additional stock or payroll.

• What is a Business Line of Credit all about?

This is a popular type of funding offered by alt-fin companies like Cresthill Capital. It is given out to small or medium scale business owners as cash so that they can use it as and when they please. There is no single-time payment. Rather, it works like a credit card or credit account.

You don’t need to utilize the funds until you actually need it, however, you understand that a specific sum of cash is accessible to you all of the time and you can get it whenever you wish. The sum you pay back is again accessible for lending at flexible cost structures.

• How Can It Help SMEs?

As most businesses plan in advance, they purchase stock and get the raw materials in bulk. This needs a forthright investment, yet the cash just starts coming in once the item is sold. There are also other fixed costs, for example, utilities, insurance, and wages that must be met each month. In both these scenarios, according to Cresthill Capital Reviews, a business line of credit could be vital to keep the business running, particularly, for SMEs without much cash reserves.

It’s quite similar to having pre-approved money in your account, but not costing you a penny. It very well may be utilized by small business owners as working capital, expansion funding, etc.

• Where To Get A Business Line Of Credit From?

The simplest route is to fill an online application with an alt-financing company like Cresthill Capital! That is the quickest and the best method to set up a business line of credit.

To make a business line of credit simple to qualify for and to use, Cresthill Capital Reviews all the application details, annual revenue figures, and business history provided by the businessmen closely. This process helps in deciding the amount of money that can be offered to them.

Such renowned alternative lending companies work quickly and offer super flexible credit limit choices, and have few of the most aggressive cost structures in the industry.

So, going with the conventional funding option is constantly a choice, yet let’s face it, that course is not just slow but also unsteady. According to studies, very nearly 1 out of 10 entrepreneurs had their line of credit brought in right on time by the bank, and 29% had the same decreased over the recent four years.

Thus, in case you are searching for a relentless source of working capital for your small and medium scale business, and you need it immediately, do call at 800-828-0452 now. Get ready to choose sensible and flexible rates and repayment terms like never before!

Cresthill Capital

A quick guide to help you find the right alternative lending option for your small business

Help Your Small Business With A Business Line Of Credit