Best Merchant Cash Advance
PDQ-Funding offer companies in the UK the Best Merchant Cash Advance.
Best Merchant Cash Advance 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 with a merchant cash advance starts at £3,000 up to a maximum of £200,000 but maybe possible to go more.
This is not a traditional business loan, but a business cash advance or best merchant cash advance will utilise 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 best merchant cash advance 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 takes advantage of this.
Basically, a merchant cash advance 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.
Merchant Cash Advance Benefits to business
A merchant cash advance gives you access to business funds that may have been otherwise unavailable to your company.
UK Business, sole traders, partnerships and limited companies have access to a business cash advance with an 85 per cent acceptance rate. Sole Traders, Partnerships and limited Companies that qualify for the unsecure business cash advance can expect funds to be transferred to their account within 10 working days.
These business cash advances can provide a quick cash injection to a business, helping with funding growth, new equipment, stock, or anything else a business requires to function, taking away the financial short fall it may have.
Repayments of the Business Cash Advance
Repayments on this merchant cash advance are designed to be flexible and inline with your business cash flow. They can be based on a fixed direct debit payment, or an agreed percentage of future credit and debit card transactions, until the business cash advance is repaid.
If you are a business within the UK and would like to request a best merchant cash advance or simply wish to learn more about our alternative finance funding solutions, please complete the online enquiry form.