A delicatessen is a perfect business for a merchant cash advance as many process credit and debit card sales from customers. The card turnover that a deli business processes can be raised as a cash advance – usually up to 150% of the deli business total turnover for a single month period. The business then repays the loan against each future card sale that the business makes. This percentage is a comfortable amount for the business owner.
A merchant cash advance is classed as an alternative commercial finance product which has had significant investment from the British Business Bank part of the UK government drive to actively invest in alternative finance products.
There are many aspects of a cash advance that justify its popularity amongst retail traders such as deli’s, restaurants, cafe’s, bars and bistros. It is unsecured meaning there is no need for an asset to secure against the borrowing. There are no hidden fees or charges that quite often pop out of traditional commercial funding.
There are no early or late repayments penalties. But most of all it is the versatility of the product on repayments that make this funding product the perfect deli business loan. You see if your deli has a quiet month on sales then your business will pay back less. And, if on the other hand, your business has a good month on sales then you’d be paying off the advance quicker.
We have helped many delis, small sandwich shops and cafe’s find the funding they need. We have an impressive acceptance rate based at 90% plus. We have also helped when a business or business owner has a poor credit history as the product doesn’t take this into account at all.
A business cash advance is a great way to fund your deli whether you are looking to refurb, expand or buy new premises. In fact, a cash advance can be used for many different purposes. Make a simple application today and see if your business qualifies. Our team would be happy to give you more information and explain the process further without any obligation to proceed.