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An Off Licence Business Cash Advance works by looking at what you take in the way of card payments. If you take an average of £15k per month then the business cash advance would advance you that amount.
The money is paid back in a way that is comfortable for you and your business cash flow, it’s designed to work alongside your busy and quiet periods. An agreed percentage is deducted on each days card takings until the balance is repaid. For example if you borrow £15k they might agree that 20% of your card sales would be kept for repayments – the percentage stays the same throughout good and slow times.
So for example each £100 that you put through your PDQ machine, £20 is kept by the lender and £80 remains with you. Even if you took £1 or £500 the lender still takes the same percentage only getting paid back when you make the sales. Traditional loans can hit you with the same set amount each month regardless if you have had a poor month or not.
An off license needs stock especially at busy seasonal periods, your off license may also need to expand and open up another location before the competition realise the opportunity there too. Where better and quicker to find the capital required? The loan amount is unsecured which means your assets are safe and because you only have the one off charge to pay back the repayments can only ever go down in line with your sales!
Our alternative funding solution is the perfect for an off license business. Cash advances are taking the UK by storm and are championed by the government as an alternative to going to your local High Street Bank who let’s face it are not ‘that’ local anymore.
Apply today and one of our team will contact you back with all the information you need to make an informed decision.
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