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A business cash advance, often referred to as a merchant cash advance, enables you to borrow funds based on your future debit and credit card transactions.
A business cash advance is available to all businesses who accept credit and debit card payments via a card terminal for their products and services. This short-term, unsecured and flexible source of funding provides a fast and convenient cash boost for your business.
Repayments are aligned with your cash flow and based on a percentage of future card sales. There are no fixed monthly repayment terms nor restrictions on how you use the funds to grow your business.
A business cash advance is an unsecured funding solution tailored to adapt to the peaks and troughs of your business activity and repayments are aligned with your actual card sales.
The amount you can borrow is based on your average monthly turnover of credit and debit card transactions and a repayment structure is agreed to suit the needs of your business. A small percentage of each future card transaction will be repaid automatically via your card terminal to the lender until the balance is cleared.
As there are no fixed monthly repayment terms or penalties, a business cash advance removes the pressure associated with traditional business loans and gives you complete peace of mind. During your busiest periods, you will pay off more of the business cash advance. You’ll pay less when it’s quiet, as you only repay the advance when you accept a card payment.
You can use your business cash advance to quickly grow your business, whether you’re looking to refurbish your premises, invest in stock or boost your cash flow. The repayment term is relatively short, typically within nine to twelve months. Repayments are taken automatically at the time of sale; an agreed percentage will go to the lender and the remaining amount will be credited to your business within three working days.
A business cash advance offers businesses a quick, convenient and transparent funding option.
As an unsecured form of alternative finance, you will not be required to provide a commercial or personal asset as security against the advance.
Repayments are transferred automatically to your lender as your card transaction is being processed. You won’t have to complete additional paperwork, make separate repayments or change your merchant PDQ machine or provider. It really is that straightforward. You simply borrow from a percentage of your future card sales. Repayments are made in line with your monthly takings, so you won’t have to worry about penalty charges.You only repay the loan as and when you accept credit and debit card payments via your PDQ facility. You will not, therefore, be under pressure to repay a business cash advance when business is slow.
As repayments are only made via card transactions, you keep 100% of your cash sales.
If your business accepts payments for products and services via a PDQ merchant terminal, you could qualify for a short-term, unsecured business cash advance. You must operate a UK-registered business that has been trading for a minimum of three months. Traders with a poor credit history will be considered but may be required to provide a longer trading history. You will be asked to declare your monthly turnover of credit and debit card transactions.
If you do not meet these criteria, we can help you find the finance you need to grow your business via our range of other funding solutions.
A business cash advance offers one of the most flexible funding options for UK retailers and merchants. Find out if you qualify by applying online for a business cash advance today. You will receive a free, no obligation quotation within 24 hours.