MERCHANT CASH ADVANCE UK
Merchant cash advance UK from PDQ-Funding could help your business to get ahead, quick funding in 48 Hours
PDQ Funding provides fast, short-term finance for businesses that take card payments via a PDQ machine.
Merchant cash advance UK is an alternative finance solution allowing a business in England, Scotland, Wales and Northern Ireland to raise finance using the receipts from card processing terminals as security for the borrowing facility. If you have processed debit and credit cards for more than 3 months, then you are potentially eligible for an immediate business cash advance, as simple as that!
This type of facility is generally related to the average monthly card turnover processed through your card machine with different providers offering different percentages. Some funders will also take into account your non card related income when agreeing their advance.
The normal minimum amount advanced is £3,500 up to a maximum of £200,000.
This is not a traditional business loan, but a business cash advance against future card payment takings. A fee is added by the funder to the advance made and you repay that advance by giving a percentage of your daily card receipts directly to the provider, so you do not pay it back if you are not earning.
Use is not restricted to shops, pubs, restaurants and take-away food facilities we just find it is most popular with those types of business, but we have also helped with unsecured finance for MOT stations, hairdressing salons, car dealers, solicitors, garden centres, Bed and Breakfast, hotels and many other small and medium sized businesses throughout the UK.
Ok, I’m intrigued. So how does a merchant cash advance UK work?
Most retail companies use card payment terminals for an increasing percentage of their sales. Electronic payments can be tracked and analysed easily. A merchant cash advance UK takes advantage of this.
Basically, a merchant cash advance UK is an unsecured advance of cash based on future credit card and debit card sales. The lender works with the card machine provider – the company which processes all your card transactions – to analyse your recent sales.
Because the electronic payment methods let the provider and user review sales data in a transparent fashion, the lender can get a clear view on the level of transactions flowing through your business. One of the real plus points of a merchant card advance is that because of this transparency there’s no need for a business to present a couple of years’ worth of trading accounts or to go through the dreaded credit check.
If you are a business within the UK and would like to request a merchant cash advance or simply wish to learn more about our alternative finance funding solutions, please complete the online enquiry form.