For some businesses getting funding can be tricky especially when looking for bad credit business loans. If you do have any historic poor credit history within your business the chances are it may flag to some traditional lenders who may flag it as a risk when the deal enters their underwriting team.
We can help with bad credit business loans
Our merchant cash advance product is the perfect solution to those companies with a little adverse credit history. As the product works directly from your credit and debit card sales and doesn’t take in your total company revenue and more importantly past credit history.
Lenders in the cash advance space are keen to help all small business and SME’s in the UK find the unsecured funding they need. The cash advance product is endorsed and funded via The British Business Bank Investments arm and the UK government as an alternative lending solution for small businesses who operate credit card payments for their sales made.
With a merchant cash advance you can receive an offer to a similar amount as your monthly credit card sales turnover. The payback is a simple formula. You agree a fixed percentage of those future sales to be repaid directly back to the lender as and when you make sales via your PDQ credit card machine.
There are no hidden charges or fees to surprise you and the whole process is transparent from start to finish and in most cases there is no need to change your card processing provider.
Many businesses in the UK use this product as a form of unsecured business finance especially if you do have poor credit history. We’ve helped many companies with poor credit find this finance to work well for them. In fact we see those same companies use our services again and again and in some cases referring their business friends to explore the product for themselves.
If you do have poor credit history don’t worry. Just apply today and discuss with our team. We can help.