Getting the funding required for your travel agency or tour operator business has become easier with the arrival of a new type of business finance.
A merchant cash advance, otherwise known as a business cash advance, is the perfect business loan option if your travel agency takes credit and debit card sales.
A cash advance is unlike any other type of business loan in that it only takes your credit and debit card sales into account when calculating how much you can borrow. And, more importantly, it offers a unique way for your travel business to repay the loan.
Each time you make a sale and take a booking from a customer who pays with their credit card through your merchant gateway, a percentage of that sale will automatically be repaid back to the lender.
This is a great way to repay your business borrowing as it is fluid with your day to day sales. If you have a quiet week on travel bookings, you will be paying back less for that week, and on the other hand, if your overall month is a good one, you will be paying off the loan quicker.
A flexible business loan for a travel agency with a difference
This is a great product in that it does not put your business under financial pressure to repay a fixed amount each month. In most cases, the common business loan requires fixed monthly payments regardless of how your business has performed. As a tour operator, you know that seasonal change can have a significant impact on sales. Summer holidays, winter sales and other seasonal changes can peak your bookings both ways. A business cash advance helps over these times, with repayment requirements being lower when your sales are low.
You can use the funding for any purpose. Whether you are looking for marketing funding, expanding your travel agency with new premises, employing more staff, office refurbishment or just general cash flow, a merchant cash advance could be the perfect funding option for you.
We have helped tour operators, travel agencies, coach travel tours, specialist tour attractions, holiday company, and theme parks. All have had a requirement for cashflow and development finance, and the cash advance product has been the perfect fit.
The funding is unsecured, too, which means you don’t have to secure any personal or commercial assets such as your property to obtain the funding. The process is quick, simple and transparent each step of the way. We offer a free no obligation quote based on your business requirements, and our team is ready to help you today.