Today, Merchant Loan Advance have spoken with The Boar’s Head in sunny Plymouth. They wanted to explain to us how the Merchant Cash Advance product works with their pub’s cash-flow. Opening their doors in 2010, owners Janine and Derek Price have experienced many ups and downs.

Like many pubs in South West England, the Boar’s Head had an uncertain future during the dark days of the recession. Less people were willing, or indeed able, to spend on nights out. Even pub food sales were down across the country, according to official statistics.

We asked Janine and Derek how they coped during the downturn. “2008 was a time of uncertainty. Friday and Saturday nights simply weren’t the same as they were before”, Janine told us. “We had to cut back on staff and even lost the great rates we had with suppliers as we were simply buying less”.

Like many pubs at the time, cash-flow became a large problem for the Boar’s Head. The Merchant Cash Advance product wasn’t on their radar at the time, however. “We had staff wages to pay and no customers through the door! We had negative cash-flow and we couldn’t see an end in sight”.

After three years of cutting back on staff and reducing costs, we asked Janine’s husband Derek how he would handle financing in the future. “I think the market is going through more uncertainty right now. We use the benefits of a Merchant Cash Advance because it works in-line with our cash-flow and growth.”

“The Merchant Cash Advance lender advanced us the funds we needed. We now pay the loan back as a fixed percentage of our future card sales. This means that we pay the loan back quicker during the busier months. We would strongly recommend this product to other pubs”.