PDQ Cash Advance

//PDQ Cash Advance

PDQ Cash Advance

PDQ cash advance is most commonly known as a merchant cash advance or business cash advance but what does that mean? Merchant cash advance loans are becoming more common within the UK for small businesses, so we’ve put together a simple guide to explain the benefits behind this new type of loan, and how it can work to your advantage should you need business funding.

What is PDQ merchant cash advance?

A PDQ cash advance is a short-term unsecured business loan. The repayments are taken at source from the transactions received from clients via the PDQ machine. These repayments are charged at a percentage split, usually 5%-25% of each transaction goes towards repaying the unsecured loan.

The loan is normally paid back within a twelve to eighteen month period. Benefits of PDQ Cash advance – merchant cash advance include;

  • No early settlement fees
  • Repayments are due when you earn, through your PDQ terminal – ideal for renovations or seasonal businesses
  • Merchant cash advance loans are quick to arrange and can often be deposited within five working days
  • Loans repayments are minimal on “bad” months with low turnover and higher repayments on good months

Merchant cash advances are generally offered with an agreed repayment amount upfront, for instance, an advance of £20,000 could have an agreed repayment of £24,000. They amount of time taken to repay the money is less clear, with repayments linked to your revenue. This can make an APR comparison slightly tricky, but is counterbalanced by the certainty of cost upfront.

To qualify for a PDQ Cash Advance, you generally only need to have been trading for 3 months and ideally be taking over £500 per month in card payments. If you don’t quite meet these points, don’t worry, we may still have options available to you.

Advances between £500 and £300,000 are generally available and you could be approved within hours. You keep all of your non-card income, meaning you don’t have to make any payments on top of the agreed card payments

Should you like to know more about PDQ Cash Advance please complete our online enquiry form and a funding expert will contact you by return.

By | 2018-03-10T15:16:32+00:00 February 14th, 2018|PDQ Cash Advance|0 Comments

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