Any big business starts with a small step: an idea. An idea that can help deliver products or services targeted to provide enhanced customer satisfaction or fill up the gap in the existing economic scenario. However, an idea cannot in itself make a dent unless and until it gets the support and cheer of the financing community.
However, post the financial debacle of 2008, most banks refuse to entertain credit applications from a business generating less than $2 million revenue and those which do are sadly unaligned with today's SME needs, which are profoundly affected by the slightest shifts in the economic environment, operate in risky waters and need quick funds at irregular intervals within the first year of business operation.
Banks need to adhere to stringent guidelines and take into account the creditworthiness of the company, which can show steady cash flow and offer assets as a guarantee against default and this does not augur well for the small business community.
Though the volume of Cash Advances to large businesses has steadily increased over the last few years, the funding extended to SMEs has shown a steady decline in the banks' balance sheets with less than one-fifth of the banking funds having been processed to this sector in the last few years.
The use of traditional scoring models to gauge SME requests and the lack of a quick and seamless process origination stand pitted against the requirements of this segment. Accessing cash advances once the business has just started off has been one of the biggest deterrents to SME operators in the last few years.
We, at CrestHill Capital, have been quick to ascertain this mounting gap and created our financial modules to synchronize our financing options with the emerging business models of SME.s.
1. Overriding The Need For A Lengthy Application Process:
We realize that SME owners need a working capital requirement of at least 3 to 6 months in hand to expand their customer base, promote their services and deliver what they are marketing. Therefore, unlike traditional financial options, no amount is too small for us to sanction and release. For more details, call up Crest Hill Complaints today.
2. Implementing New Age Models To Makes Cash Advances More Accessible:
New age analytics, psychometrics, social media behavior, and other dynamic factors help digital financers like us to originate more funding options at competitive rates and in quick turnaround time (often as less as 48 hours).
3. Tailoring The Funding Options With SME Requirements:
By virtue of Big Data, Business intelligence, and analytics, all of us in the Alt financing sector is redefining our entire financing structure, and the resulting outcome is a range of hybrid financial products with new and enhanced features, conducive to the interest of this entire growing segment.
4. Keeping Financing Options Cost And Time Effective:
The use of new-age modules like a single point working capital dashboard, which allows for seamless tracking right from funding application to disbursement on the digital platform, has allowed for maximum transparency and thus optimizing on time, money, and effort. Alt finance companies, like CrestHill Capital, keep their funding origination processes cost-effective and offer credit at more competitive rates than was earlier possible on this alternative platform.
5. Diversification of Cash Advance Options:
The traditional modules of availing funding are no longer applicable to this new digital platform. Today, in the Alt finance industry provide a range of Cash Advance options right from Invoice financing (against accrued invoices on account of non-payment by clients) to Merchant Advances (a lump sum advance to be repaid with an additional fee, in accordance with future sales) to Line of Credit (an open-ended credit based on mutual understanding between the lender and the borrower which makes capital available at scheduled, intervals to be repaid on convenient terms later) to Online funding (at never before rates amounting to as low as 6.5% and disbursed in as little as 24 hours to meet any financial exigency).
For further information, dial CrestHill Capital Finance today.
