Business Cash Advance UK
Business Cash Advance UK is an alternative funding solution that uses your card payment machine, which means if your company takes card payments you could receive an business cash advance unsecured loan that is repaid as a percentage of your future receipts through your PDQ machine (Process Data Quickly) or commonly known as a card payment machine. This alternative short term financial product is ideal for companies that take lots of card transactions via their PDQ Machine.
Given this flexibility of repayment, a Merchant Cash Advance or a Business Cash Advance UK as it is sometime know is very suitable for hospitality, general retail and businesses looking to invest in stock, equipment or refurbishment – or for those simply needing help with cashflow or trying to plug a gap with other mainstream financial solutions.
Business Cash Advance UK And Your PDQ Card Payments
This type of business cash advance is available to anyone who takes PDQ card payments.
- Retailers and shops (B2C). like Take Aways – Hairdresses – Florists
- Businesses that sell to other businesses (B2B), taking credit card and/or debit card payments. Like Accountants – Tool Hire
You can use the money that you release within your company, for any purpose. This could include:
- Working capital for expansion.
- Improving your premises.
- Purchasing stock.
- Paying unexpected bills.
- Recruiting staff.
- Improving your cash flow.
- Paying HMRC
Maximum Cash Advance Value
You can borrow up to a maximum cash advance of 100% of the monthly value of the card payments that you receive. The maximum advance is £200,000 for a business cash advance in the UK.
It’s so simple and transparent. A business cash advance UK is an unsecured advance of cash based on future credit and debit card sales and is repaid via a pre-agreed percentage of your businesses card transactions from your card payment terminal.
Flexible Repayment Terms
The business cash advance UK is paid back via a small fixed percentage of your card payment takings. For example, you might agree to pay it back say 10% of your takings.
It is not a loan product, its is a cash advance product and as such does not have an APR or fixed monthly repayments.
The beauty of this arrangement is that it accounts for fluctuations in your trading volumes. For example, if you have a bad trading day, you still only repay the same rate of 10% of your takings (in this example). This means that you don’t have a fixed loan repayment that you have to meet that doesn’t account for trading fluctuations. In this way, this kind of finance is ideal if you have trading fluctuations that might cause you to worry about repaying a traditional bank loan. This type of finance suits any business that regularly use PDQ transactions, such as those in retail, ecommerce or hospitality.
An upfront fee, sometimes known as a factor rate, is applied to the requested sum and then the business pays back this total amount via an agreed percentage of their debit/credit card takings. These payments are usually taken back on a daily basis and, as such, follow the business performance, thus a Business Cash Advance UK is cashflow friendly.
Repayment time is dependant greatly on the amount of revenue you earn – making APR comparison difficult. All repayments for the business cash advance are adapted to your cash flow – they come from a small percentage of the business card takings instead of a fixed amount each month.
Business Cash Advance Qualification Criteria
You need to be taking at least £3,000 in card payments each calendar month, and this should be over a minimum of 10 separate transactions. You must have been taking card payments for at least 6 months. Full criteria and terms will be provided by our funder, should you wish to apply for a business cash advance UK.
Apply For A Business Cash Advance UK
Need more information on business cash advance UK? The process is so simple, quick and easy. Just complete the online enquiry form, once we have received it, a cash advance specialist will contact you and talk though all the aspects of a business cash advance UK funding product.