Business Loans for Taxis & Private Hire Companies
Get £3k to £300k in 24 hours*
- Pay back through future card sales
- Unsecured – there’s no worry
- Same day business funding
Quick Decision with No Obligation
Get £3k to £300k in 24 hours*
Quick Decision with No Obligation
Whether you are an individual taxi driver looking to expand your fleet or a taxi company aiming to upgrade your vehicles, a business loan in the form of a merchant cash advance can provide you with the quick capital you need to help drive growth and achieve your goals.
Unlock funding from £3,000 up to £300,000 against your customer card sales.
Automatically repay a small percentage when customers purchase by card – There are no fixed payments.
The advance is unsecured, so your business assets are safe.
A quick decision and process mean you can access your money in just 24 hours* after approval.
The cost of the finance is made clear to you upfront. There are no hidden costs, confusing APR’s or other nasty charges.
Apply at any time - We can process your application 24 hours a day.
Quick Decision with No Obligation
Like any other business, taxi companies often face various challenges in a competitive market. With 289,400 licensed taxis and private hire vehicles (PHV) in England in 2023, accessing quick capital can help you to improve operations and stay competitive.
With a business loan, a taxi business can invest in new vehicles, diversify services, such as airport or corporate transfers, or help cover occasional cash flow challenges during daily operations. Whatever the purpose behind seeking financial support, we can help you unlock the capital you need with a merchant cash advance (MCA).
This type of unsecured finance is well-suited to taxis, black cabs, chauffeurs and private hire businesses. As taxi companies often receive a substantial portion of their revenue through credit and debit card transactions, an MCA offers a fast and flexible way to unlock cash against card sales to support your business goals.
Whether you're a self-employed taxi driver managing your own business or you operate a larger fleet of private hire vehicles, our tailored funding solution can cater for a diverse range of business types and needs within the UK's thriving taxi industry.
If you would like a quick, no-obligation quote, simply fill out our quick and easy application form.
Apply NowQuick Decision with No Obligation
A business loan for taxis is a funding solution designed to support private hire taxi operators and businesses in the transportation industry. A business loan can be used for many purposes, such as upgrading your taxi fleet or helping improve your cash flow.
We offer a merchant cash advance, a type of taxi business loan with a repayment structure that works differently from a traditional loan.
Instead of fixed monthly payments, repayments are flexible and are based on a percentage (usually 10%-25%) of future card sales. This aligns with the fluctuating nature of taxi income and provides you with the necessary funds without the worry of meeting fixed monthly payments. Your cash sales are unaffected because repayments are solely based on card sales.
For example, if a customer pays £30 using a credit card and you agree on a 10% repayment rate with the lender, only £3 will go towards repaying the advance. You will keep £27. This continues on every card sale until the full amount of the advance is repaid.
We offer funding from £3000 up to £300,000. However, the amount a taxi business can borrow with a merchant cash advance is based on several factors, including the business's monthly credit/debit card sales.
For example, if your business processes around £3,000 a month in card sales, you'll be eligible to borrow up to the amount of £3,000, or sometimes more, depending on your circumstances and affordability.
If you wish to apply for finance, your business will need to meet the below minimum requirements:
If you can meet all of the above criteria, you can start your application here. If your business doesn't completely meet this criteria, don't worry! We might still be able to help!
Yes, you can get a business loan to buy a taxi. However, we can only help businesses already trading who are looking to expand their existing taxi fleet.
If you're not trading yet and want to purchase your first taxi vehicle, a merchant cash advance won't be suitable for you.
Unfortunately, if you're a self-employed Uber driver or Lyft driver, we are unable to help with a merchant cash advance at this time. However, there might be alternative business loan options that could be more suitable for your needs.
Quick Decision with No Obligation
"We have helped many Taxi businesses across the UK receive funding to grow"
£20+ Million
Total Funded to Businesses
90%
Application Approval Rate
The process is fast, simple and straightforward. It's hassle-free, meaning there's no complicated paperwork to complete so you can focus on growing your business.
Apply online for a cash advance from £3,000 up to £300,000 for any business purpose.
The merchant cash advance can be with you in as little as 24 hours* after approval.
You simply pay back a small percentage of your future card sales as they happen. You only repay when you sell.
Quick Decision with No Obligation
