Liberis describe themselves as the business friendly finance company. They believe in helping UK small businesses with unsecured funding. Liberis is one of the larger fintech business to enter the alternative business funding.
As long as you’ve been business has been trading for over 4 months and take at least £2.5k in customer card transactions per month you can take out a Business Cash Advance.
As a MCA Direct lender can offer cash advances from £2,500 – £300k for your business’ needs, which you pay for as customers pay you. Liberis are also accredited under the Coronavirus Business Interruption Loan Scheme (CBILS) and can offer term loans from £50,001 – £150k.
Who are Liberis
Liberis are pioneers of business cash advance in the UK since 2007. It’s their mission to liberate lending for small businesses by bringing a breath of fresh air to the industry. They are helping small businesses get access to the finance you need in a simple, business friendly way which is why we have nothing like penalty charges, late fees or fixed monthly payments.
Providing the financing are previous backers British Business Investments, Paragon Bank and BCI Europe, along with new partner Silicon Valley Bank (SVB). It brings the total funding raised by Liberis to £200 million, including more than £50 million in equity funding. “The new funds will be used to fuel company growth, launch new products and markets, and provide additional customer financing solutions,” says the fintech.
To date, 2007-founded Liberis has provided over £500 million in financing to 16,000 SMEs across Europe, the U.S. and the U.K. (the product is available in five new countries: U.S., Finland, Sweden, Czech Republic and Slovakia). However, lending has really picked up lately, with £250 million lent in the past two years alone.
In fact, you only pay us when you get paid. Finance can provide an immediate injection of cash of between £5,000 and £200,000. A business cash advance works by taking a percentage from your credit and debit card transactions. There’s one simple cost, agreed up front (no APR). Plus you keep 100% of your cash transactions.
Cash Advances from Liberis UK
A Business Cash Advance UK comes with the following benefits :
- Apply in minutes for £2,500 – £300,000 and get a decision in as little as 24 hours
- You pay back only when you earn
- Clear cost agreed upfront (no APR)
- No hidden fees, charges or costs
- No monthly penalties as there is no such thing as a late payment
- Over 75% of businesses are approved for cash advances via our simple and hassle-free application
- You can rest easy, knowing that we are supported by the UK Government
How Could a Business Cash Advance for Liberis Help My Business?
Business cash advances for Liberis are used to fund working cash flow, fund business growth or simply purchase stock. If your company needs a capital injection, a business cash advance can be ideal. This option can usually be completed quickly, meaning you can react quickly to any unexpected expenses or opportunities. The improvement in cash flow can often lead to an increase in profit for the business.
The flexibility offered through Liberis business cash advances is often highly beneficial to business owners in the UK. The usual strain of finance costs during quieter periods is no longer a problem with your agreed repayments always staying in line with cash flow. You keep all of your non-card income, meaning you don’t have to make any payments on top of the agreed card payments.
Who Do they Fund
They support any business that has been trading for over 4 months and has been accepting over £625 in credit or debit card payments from their customers per week. Popular in such sectors as hospitality, retail, health and beauty and other high street services. Business cash advance works very well for seasonal businesses.
The also offer funding and support to the professional trade with their dental practice business loans and opticians business finance.
You can apply in minutes; online or on the phone and we can give you a decision straight away. Paperwork is minimal and over 70% of applications are approved. If necessary, you can have the money within 24 hours too.
Some of the features and benefits of Liberis’ merchant cash advance.
- Tailored loan service
- Funding from £5,000 – £200,000
- Repayments based on your daily card takings
- A fixed percentage from as little as 9%
- Quick and easy process
- Flexible and affordable repayments
- Unsecured loan
- No hidden fees or charges
- Funding decision made within 24 hours
- Highly rated on Feefo
Business Cash Advances are an advance of cash based upon future credit and debit card sales. Repayments are only made via a pre-agreed percentage of your business card transactions. As payback is directly linked to card takings, you’ll only pay back your advance when your business earns. And unlike many other forms of business funding, company or personal assets aren’t required. There are no penalties or fees added, because there’s no such thing as late payment. A business cash advance is there to boost capital when you need it most.
Some finance providers it can take a while to hear if your loan application has been accepted. With Liberis Business Finance there is no lengthy application process. If you are looking for a quick loan alternative they can often make a decision in principle for you on the phone. Providing all the information they need, you can have a final decision in as little as 24 hours. A card terminal is needed for this type of funding and a merchant account. Examples of merchants accounts are : Worldpay or Barclaycard
The have found that over 80% of eligible customers renew their funding with them to continue supporting their business growth. The company also now offers a peace of mind guarantee. Should you change your mind within 14 days, you can hand the money back without incurring any costs. The compony operates an online portal for renewals and to check your repayment status called My Liberis.
What are the sources of finance available to a business
As Liberis offer two types of business finance for small businesses, its worth talking about different sources of finance for small business. The different types are really dependent on what type of business you operate.
If you are a retail business say, My Liberis is the perfect fit to fund this type of business, If you don’t take card payments and say you are a cleaning company, invoice Factoring my be the way forward.
As these two different types of business are completely different, they can still apply for a business loan, if you are unsure how a lender can finance your business please give us a call to discuss further.
How do we get a Business Cash Advance
Liberis offers their business cash advance service to businesses that have been operating for at least four months and with a minimum monthly card transaction amount of £5,000. Their loan application is quick and easy with a decision in principle straight away and a final response within 24 hours.
PDQ Funding are a leading introducer for Business Cash Advances to My Liberis in the UK. Our services are free of charge as Liberis pay us a commission. To get started the process is simple. Complete the online enquiry form and we will do the rest.