If you are looking like so many others for fast business funding keep reading as we explain what makes a merchant cash advance the ideal funding option for speedy cash flow.
What is fast business funding?
Business Funding is a line of commercial finance for businesses based in the UK. There are many types of business funding available via banks and non-bank alternative business finance.
There are many types of alternative finance available some of which don’t require asset security. Some of these products such as a cash advance offer a fast route to access the cash your business needs to grow.
The application for a merchant cash advance is straightforward, simple and doesn’t require complex business plans and long-winded application forms. We just require simple business details to verify if your business qualifies.
Once qualified, usually within a few minutes, our team will ask you to send over a copy of your merchant statements (usually three in total) so best to dig these out ready if you are looking for a speedy solution. They will calculate with you how much you are able to borrow and agree with you a percentage of each future credit and debit card sale that will be repaid on the advance.
This is where a cash advance differs significantly to other forms of business finance. With other types of business loans, your business will be expected to repay a set amount each month until the loan and interest are repaid. A business cash advance works differently.
It will only repay as and when you make sales. So when your business has a poor month on sales then you will be paying back less for that month. This obviously has many advantages for business owners who have seasonal changes or peaks and dips in sales. By using this product they don’t put the business under stress to repay a monthly figure that maybe difficult to reach.
Another positive is that the product is a fast business funding solution. From start to finish you can expect funds in just a few days, sometimes less. The application is fast and the process is explained throughout the process. There is no need in most cases to change merchant provider too, most of all merchant service providers are compatible with the business cash advance product.
So, whether you are looking for fast business funding for restaurants, hotels, cafe’s, retail shops, MOT and tyre shops and more, obtain a free no obligation quote today. We’d be delighted to help.