The Small and Medium Scale enterprise sector is today the pivot of a booming economy, especially in a rapidly developing economy, like ours in the U.S, with a diverse population base, having a distinct set of needs.
Alternative financing is fast becoming the fulcrum in such a financial scenario, generating a transaction value of UD$33,513.5m in the year 2020 and slated to reflect an annual growth rate of 0.9% (CAGR 2020-2023), resulting in a grand total of US$34,399.9m by 2023.
Talking in terms of the U.S Alt Finance sector exclusively, Alt finance grossed a sum total of $34.5 billion in origination volumes in 2016, which marked an average of 22% jump year-over-year.
Why Traditional Banking Sector fell short of expectations?One of the strongest deterrents to the growth and expansion of the Small and Medium Scale Enterprises in the last few years of global expansion has been the lack of easy and quick access to traditional funding by the Banks. Both the Government and the Private banking sectors, were slow in their uptake to take advantage of this boom, which led to huge capital access gaps.
Limited collaterals, smaller asset size, and insufficient past financial record are few of the apparent factors cited by the traditional Banks, which had led to the SME sector become a less promising client base.
How Alt-Finance changed the game?
This is where Alt lending has stepped in and proved to be a game-changer of sorts in over-hauling and imparting fresh impetus to the SME sector. A not so distant, but maverick cousin of the conventional financial system, this technology driver, uber savvy, fast and easy method of financing has given SME sector in the U.S, the much-needed wind beneath their wings.
This is where Alt lending has stepped in and proved to be a game-changer of sorts in over-hauling and imparting fresh impetus to the SME sector. A not so distant, but maverick cousin of the conventional financial system, this technology driver, uber savvy, fast and easy method of financing has given SME sector in the U.S, the much-needed wind beneath their wings.
Alternative finance today refers to the entire gamut of financial channels, networks, and instruments that have mushroomed at an unprecedented rate in the last few years on the remote fringes of the traditional financial system. The sector is formulated with the specific objective to meet the needs of the “eager to aim bigger and fly higher” small and medium scale entrepreneur, who traditionally fall into the high-risk zone.
With the ease of availability of customized working capital loans and easy repayment options, small businesses never had a better financial ally.
Alternative lenders like Cresthill Capital in the U.S have revamped the entire SME sector with ease of Cash Advance facility, without correlation to past track records of the creditworthiness or collateral security. The facility of flexible cost structure allows for a range of convenient repayment options, which is easy on the pocket and business-friendly in its approach. Easy accessibility to Crest Hill complaints about detailed information and feedback, lends clarity and transparency to the entire process.
The expeditious processing time (as less as 4 hours to maximum 3 business days) and the absence of lengthy and cumbersome documentation makes Alternative lenders, like Cresthill Capital today, the first and most obvious choice for budding entrepreneurs and innovators who wish to accelerate the process of growth and expansion of their business. Additionally, the easy access Crest Hill complaints section helps in further streamlining the entire process.
How has Alt Finance actually revamped the dynamics of the SME sector?Small scale sector entrepreneurs struggle to access capital to thrive and grow. Alt Finance has come to the aid of many businesses based on their fiscal responsibility assessment more than their credit ratings. Determination of the growth potential of start-ups and the level of competition they bring to the business, along with the necessary skill guidance boost from experienced investor groups, are some of the key highlights of this alternative financing sector.
It is then no surprise that where big Banks have been responsible for allowing funding of only 27.3% of all small business requests in 2019, Alt finance has approved the lion’s share at a whopping 51.3% of SMB loan application requests.
So, if you require that extra dough to meet expense during payroll times or are facing a cash crunch to meet urgent tax requirements or need some cash in hand to override a lean business phase or looking to over-reach your business range and exposure, we, at CrestHill Capital offer you a range of cash advance options at an enviable rate of interest. You are our priority since we firmly believe that one of the critical elements of a growing economy is financial inclusion.
