If you’re the owner of a bike shop, you’ll likely be interested in the different ways you can fund your small business. Every business needs a helping hand in terms of their financials at some point or other, but it’s small businesses that often get left behind by government funding schemes and help in general.
Applying for a high street bank loan can be a tedious and difficult endeavour for small businesses and that’s the reason why we aim to help them more than anything else.
Take the next step for your bike shop with a business loan
The business cash advance makes acquiring a bike shop business loan a straightforward and easy process to complete. This product differs from a traditional high street bank loan as it is unsecured and based on future card transactions that your business makes. There is no APR and you’ll only make repayments when you make sales. This means if you have a slow sales month, the amount you repay that month will be lower than usual, whereas if you have a good month, the loan will be paid back quicker. This product offers your practice easy access to the capital it needs in order to succeed, unlike any other business loan.
If you’re the owner of a bike shop and you’re looking to grow, a business cash advance may just be the product to help you achieve your goals. There’s many reasons you could need a boost of cash, you may be looking to train staff, renovate your premises, or purchasing new pet care equipment, whatever the reason is, we’re here to help you.
The best time to own a bike shop is now
There isn’t a better time to be the proud owner of a UK bike shop than right now. You have a customer base ready and willing to shop with you now that we’re all generally trying to be more green and help the environment by choosing to cycle rather than drive. This is the new reality for many people and ‘bike to work’ schemes and the like are encouraging us to not only be more efficient, but also to get out in the open and exercise more, too.
Business Cash Advance for Bike Shops
An alternative to bike shop business loans is something that is know as a business cash advance. This is an advance on the money your practice is predicted to make in future debit and credit card transactions. After receiving an instant cash injection, you are then expected to make repayments via a pre-agreed, small percentage of customer card sales.
Small bike shop businesses can access between £5,000 and £200,000 with this product. The business cash advance is a perfect funding solution to retail business owners, repayments are always nicely in sync with your business cash flow. This makes repayments easy to manage each month!
Business expansion maybe something on your mind, maybe a partner is retiring or you have the opportunity to purchase another practice. Growth is something all business need to do to survive. There are specific financing options for bike shop owners that give you access to new equipment and assets your business needs as it grows. It depends on what your practice needs, and using unsecured finance is a smart way to do this. It means you get access to the equipment without having to pay large amounts of cash up-front. This helps keep the business in a good cash flow position.
If you are looking for funding for your bike shop, then our Retail Business Cash Advance is a perfect solution. Whatever the reason we understand that it’s not always that simple to get loan from the banks. At PDQ Funding we offer a simple and pain free solution to business lending. You won’t have to deal with the banks or pay a ridiculous amount of interest.
Business Cash advance rate example:
Funding Amount: £9,000
Repayment Amount: £11,700
Factor Rate: 1.3
- Registered and trading in the UK
- Business owner over the age of 18
- Business must be at least 6 months’ old
- Average monthly card sales must total £5,000 minimum
There are no fixed repayment periods with our retail finance and you keep 100% of the money you make through cash sales. Because you only pay back a small percentage of your daily card sales, repayments are always in sync with your business’ cash-flow.
We offer loans from £5000 to £200,00 and the repayments come solely from your credit/debit card transactions. There is no interest charged on the amount borrowed. Instead, you receive just one clear, all-inclusive fee making our short term loans perfect for any modern day bike shops in the UK.
Applying for a Bike Shop Loan
PDQ Funding application process has been designed to help busy bike shop owners access finance quickly. Our hassle-free application should only take a few minutes and can be completed entirely online. Applying for retail business finance may at first feel intimidating. Once you have completed the first stage we will assign a business account manager that will be more than happy to help with our finance solutions.
Click to get a quick quote now button. We have a panel of expert direct lenders, we will need more information about your business to ensure we match you to the lender most suitable. You will ask the following to be disclose:
- The name of your business
- The number of years trading
- Average monthly card sales or turnover
- The amount you’re looking to borrow to fund your bike shop
You will be redirected further down the page. We will also want to find out more about you as the business owner, so please tell us the following:
- Your title, first name and surname
- Position in the business
- Contact details / email and contact number
Once you have provided us with these details, click to accept the terms and conditions and then click ‘get a quick quote’. Your application will then be processed and assessed by one of our approved business bike shop finance suppliers.
One of our account managers will soon be in contact with you by either phone or email, to discuss the terms of your bike shop business loan or business cash advance agreement.
Please make sure you take time to carefully read through all of the terms of agreement, then sign the relevant documents and return them back to the direct lender. You should then receive the funding to your account within five working days.