When looking for cashflow finance or development finance to expand your skip hire business, you could find the perfect unsecured finance solution with a product called a merchant cash advance.
A merchant cash advance works in a way, unlike any other type of business finance product. It’s unique in that it uses your credit and debit card sales to calculate how much you can borrow.
It also uses future card sales to repay the loan each time you take a skip booking, and the customer pays on their card, an agreed percentage is repaid from each transaction to pay off the loan.
This allows you flexibility on your repayments. As we know, skip hire is seasonal, with sales shooting up in the spring with plenty of bookings through to September and a drop off thereafter.
A business cash advance takes this into account, so you only repay inline with your sales. It doesn’t put your business under financial stress by requiring a set amount to be paid back each month.
If you have a lower month on skip bookings, then you pay back less. If you have a busy period such as the Easter holidays or a busy lead up to a long bank holiday weekend, you will be paying off the loan quicker.
You can use the business cash advance for any reason, including buying more skips, taking on more staff, developing your recycling centre, expanding your operation or just simply a cash flow requirement.
A cash advance is the perfect skip hire business loan product. We know because we have helped fund skip hire companies across the UK and understand their business model.
There are no hidden fees, early or late repayment charges, and the decision is quick, with funds being available in just a few days. The loan is unsecured, too, which means there is no requirement from you or your business to use a personal or business asset as security. Enquire and apply today for an unsecured business loan for skip hire companies.