Golf club finance
There are many types of options available for golf clubs looking to raise funds. In this instance, we look at how a merchant cash advance has helped many golf clubs raise funding quickly and easily. Many golf clubs have a bar and restaurant facility and catering is a top priority when it comes to making the venue successful. Many clubs choose to offer function and event facilities including parties and weddings, maximising revenue opportunity.
Golf clubs usually always have a golf pro shop selling everything golf related. These golf shops are a special place to learn more about the equipment too and have experts on hand to advise. Golf shops need funding from time to time and again a business cash advance is a great way to raise funds easily and quickly.
Golf Course booking fees are also processed both offline at the golf shop or online via the golf club website. These fees can also be taken into account when applying for a cash advance.
Golf Club Finance via a merchant cash advance
You see with a merchant cash advance your club can raise funding against credit card sales. Those sales from over the bar, from the restaurant, the pro shop, the course fees and website transactions.
You can easily raise an equivalent amount to the turnover of your card sales and in some cases, the lender will also take into account your cash sales when looking for a larger advance amount.
For example, your golf club credit card sales monthly turnover is £20,000. You could be eligible for £20,000 in funding. The lender takes a small percentage of each future card sale to repay the advance plus their fee. For example, a restaurant customer bill of £100 and they pay on their credit card via your golf club merchant facility (PDQ machine), 15% – 18% of the sale (£15 – £18) is repaid back the lender as the sale is made. This means that when your club has a quiet month on sales you pay back in line with those sales. A truly flexible approach to repayments.
The percentage of each sale are negotiable with the lender until a comfortable proportioned percentage is agreed for both parties.
The advance can be used for any purpose, development, course alterations, golf club marketing, bar development, restaurant build costs, club shop improvements and cash flow, website design and more.
A merchant cash advance can be used as part of a wider range of golf club funding. If you’d like to find out more we’d be delighted to give you more details. See also https://www.merchantloanadvance.co.uk/golf-club-business-loan/