June is already looking like a record month for loans for small business applications with the majority of sub £10k being passed and funded within hours. We have seen a substantial rise in loans for small business applications since our launch earlier in the year with small business and SME’s making up the majority of loan applications.
The typical loan value averages out around £13,000 but we have help fund recent loan applications of £50k, £75k and £130k loans.
Loans for small business have increased in June
In the USA where the loan product was developed (and called a Merchant Loan advance) it has had considerable success so it’s no wonder that it’s also succeeding here too. The government have certainly helped with the awareness of the business cash advance product by ordering high street banks to make it mandatory that they re-direct their declined customers to sources of alternative lending.
The media have picked up on this and are now helping business source either a business cash advance or a crowdfunding alternative lending option. The good news is for UK businesses that there are options, something that is being discussed at the International Festival for Business being launched today in Liverpool.
“It’s about options for small businesses. All too often they approach their local high street bank and are refused loans for small business and find they are declined with no other options available. It could just be funds for replenishing stocks or basic cash flow – both of which vital to the trading of that business.
By giving the business owner options and an array of investors and funding solutions away from the banks alternative lending is certainly looking like the way forward. ” MLA
The business cash advance model is a fantastic loan product in that it’s unsecured so your assets are safe, has no APR and the loan is repaid at an agreed percentage on future card sales.
The funds are released in some cases same day. You don’t have to switch your PDQ card terminal supplier, you simply fill in the simple application form and we do the rest.
If you are looking for Loans for small business you have found a great service that is literally taking the UK by storm.