Merchant Cash Advance vs Bank Loan

//Merchant Cash Advance vs Bank Loan

Merchant Cash Advance vs Bank Loan

Card Merchant Cash Advance

Card Merchant Cash Advance is a flexible and easy alternative form of finance compared to traditional bank loans for business. Our application process is quick and easy, once we receive your application we will contact you with a range of lenders that are tailored to your card merchant cash advance. You could have the funds of £3,500 to £100,000 of funding within your account in 48 hours.

With a Card Merchant Cash Advance, we’ll advance you between £3 500 to £100,000 for any of your business’ requirements. The advance is then repaid by paying us an agreed percentage of your credit and debit card sales (typically between 5% and 20%). You keep 100% of your cash sales. Repayments are automatically processed and hassle-free with the deduction of the repayments taken from your daily intake.

Card Merchant Cash Advance

Because repayments are linked to your card sales, you only repay the advance when making sales to your customers, so you pay less in quiet months, and more in better months, but importantly the total repayment amount remains the same irrespective of the length of time it takes to repay. We only get paid when you get paid. It’s that simple!

 

Merchant Cash Advance vs Bank Loan 

MERCHANT
CASH ADVANCE
BANK LOAN
Interest rates and fees One clear, all-inclusive
fee for the duration of
advance. No admin
charges. No interest.
No late fees.
Interest charged
according to the length of
time loan is outstanding.
Admin charges and late
fees payable.
Repayment Period Flexible repayment
period depending on
your sales (typically
the advances are
repaid in 5 to 10
months)
Fixed repayment
period
Repayment Amount Flexible repayment
amount depending on
your business’
performance (you
repay a % of your card
sales)
Fixed repayments
irrespective of
underlying business
performance
Security required? None In most cases
Business plans required? No Yes
Pre-Approval Within 24-48 hours Normally weeks
Funding Within Days Normally weeks
Access to additional
Funding?
Eligible for additional
advance when 70% of
the advance is repaid
In most cases, the
original advance has to
be fully repaid

 

Card Merchant Cash Advance is available to any trader taking over £3,000 per month on a card machine in their business, should you like a quotation on costs please complete the online enquiry form.

GET A QUOTE

By | 2018-08-13T15:30:32+00:00 January 30th, 2018|Merchant Cash Advance|0 Comments

About the Author:

Leave A Comment