We offer business owners a specialist funding solution for shopfitting finance. Each week we help many small retail shop owners, restaurants, clothes stores, cafe’s, pubs and bars, and other high street shops find unsecured finance to refit their premises.
So why use a merchant cash advance as a form of shopfitting finance?
There are many advantages of using a cash advance for your business, especially for shopfitting. Finance, especially unsecured business finance, can be very difficult to find. Many of the banks and commercial funders also need a form of security to place the funds and have tight underwriting criteria. A merchant cash advance differs in that it doesn’t require security on the loan. This product also differs in that it only considers the sales you have made via credit and debit card transactions through your card terminal or PDQ machine.
The funding process is simple, especially efficient when you are looking to refurbish your premises. In fact, we have helped many businesses find the funding they need to refurb and fund new premises at new locations.
This gives you an idea of the loan values on offer. It works in a simple way. The lender will look at your card statements over the last few months and determine a loan value that would be comfortable with you and them. Then, you agree a percentage of each future card sale to be repaid back to the lender.
This gives you a true flexible repayment strategy. Unlike other business finance types, there is a requirement to meet a set monthly repayment value regardless of how quiet or busy you may have been on sales for that month. This can put the business under stress if, for any reason, you have had a quiet month, then repaying a large sum at the end of that month can be tough on your balance sheet.
A business cash advance only takes a percentage of those smaller sales values for that month, giving your business room to breathe. There are no hidden fees and charges with this type of finance. The UK government supports the product as an alternative finance product. The British Business Bank Investment arm has invested heavily into this product.
The funding application process is straightforward, simple and quick,with a decision to fund from the underwriting team usually the same day.
We have helped many small businesses with dedicated shopfitting finance. This product is well suited to retailers and small business owners who operate credit and debit card sales.