Merchant Cash Advance UK is an alternative business funding product, cash advances are linked to your average card transactions taken over the last 6 months of trading via your PDQ machine. You only pay back a pre-agreed fixed percentage of your card takings each month. This means if the month is not going great, you pay less of a percentage as if you had a great month, so you’ll always know where you stand. You must be accepting a minimum of £2,500 per month in credit & debit card sales to apply for this product and businesses trading for over 6 months benefit from this funding solution with cash advances up-to £200,000
What is a Merchant Cash Advance UK
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Merchant Cash Advance UK
When your business need a traditional loan alternative?
Merchant cash advance UK, is an alternative business funding solution, an alternative form of borrowing for business that are based in the United Kingdom. Business that have traded for more than six months can raise between £5,000 and £200,000 of unsecured cash advances. The repayment structure of a cash advance is such that it will mirror your cash flow, so when your sales are up the repayments made are higher.
All Fees agreed upfront, all-inclusive cost that never changes.
Approval rate of 90% for a Cash Advance
24 hours Approval for funding
No APR or other hidden charges
No guarantees or security needed
Merchant cash advance UK can be applied for online
Repayments are flexible and based on your debit & credit card sales
Benefits of a unsecured Merchant Cash Advance UK
PDQ Funding offer unsecuredmerchant cash advances to UK based small and medium sized businesses. A merchant cash advance UK is an alternative business funding solution with no APR or fixed-payment term. Flexible monthly repayments that work hand in hand with the cash flow of your business.
Repayments on a unsecured cash advances depend entirely on your companies monthly credit and debit card sales. Paying back the advance is based on your monthly card transactions the more your company takes the more is paid back..
A merchant cash advance works perfectly when cash becomes short due to the speed it takes to implement one! so helps when businesses are faced with unexpected bills and cash flow challenges.
Can I get a Merchant Cash Advance?
Any UK based business that use a card payment terminal to take payments from customers can apply for a merchant cash advance. This is regardless if they are a Limited Company, Partnership or Sole trader. The lender and the card terminal provider work hand in hand so they have visibility on what’s happening. This is done due to the lender can see how much money is flowing through your business card machine on a monthly basis. That means that unlike other types of business lending, there’s no need for business plans and cashflow projection.
This means any business that takes debit and credit card payments via a card terminal can get a merchant cash advance. The cash advance lender can quickly see what the business card machine turnover is for an average month. An unsecured cash advance amount can be agreed and a repayment schedule can be offered much faster than with other options. This is a great funding option for businesses that don’t have fixed assets or need business funding in a short time.
Whatever is shown as your average monthly card terminal turnover is typically what you can get in way of a cash advance. The repayment is the amount plus a fee by agreeing to give a small percentage (usually 10-15%) of all card receipts to the advance provider until the unsecured finance is paid off. This is done automatically at the card payment terminal with each transaction and you don’t have to change your card processor or merchant to be able to get a merchant cash advance.
How do I get a Merchant Cash Advance UK
PDQ Funding have funded over a 1000 UK based business with our Cash Advances. Here is a few examples of business types we arranged funding for : Merchant Cash Advance for Pubs & Bars &Business Cash Advances for Restaurants .
As one of the leading business cash advance companies in the UK, you can be assured that we will try our hardest to arrange the funding your company needs for growth. To apply is really so simple.
Complete the online enquiry form and a member of the Cash Advance team will contact you and hopefully answer any questions you may have about the product.