Alternative Business Funding is a none designated high street banking business funding product e.g Unsecured Business Loan. Merchant Cash Advance or Business Cash Advance as it is also know is a new form of alternative funding that UK Businesses are using. This type of alternative funding uses a PDQ card payment machine and its future credit & debit card receipts as a way of funding a cash advance from £5,000 – £200,000.
Quick turnaround rates in about 48 hours it is a preferred funding option to 65% of merchant business owners across the United Kingdom. Partnering with PDQ Funding one of the UK’s leading Cash Advance company you are safe in the knowledge we have your interests at heart.
Types of Alternative Business Funding
- Unsecured Business Loan
- Invoice Finance
- Asset Finance
- Property Finance
- Crowd Funding – Peer to Peer Lending
- Merchant Cash Advance UK
Alternative Business Funding – Cash Advance
If your customers pay you via card payment terminal (PDQ Machine), a merchant cash advance gets you a cash advance sum based on future credit & debit card sales, generally up to a month’s revenue. So if your monthly revenue is £10,000 though your PDQ Machine you can get a cash advance of £10,000. Quick, straightforward, and a good fit for businesses with a high number of low-value transactions like lots of small amounts. Repayments are taken at source, making it simple process to get unsecured business funding.
Usually the repayment amount is about 15% of a card transaction. These can go up and down proportionally with your business’s income. That means in your busy times, you pay more back each month, but if the business is slowing down due to holidays or seasonally adjustment you’ll pay a smaller amount. It’s a good arrangement for many companies, because unlike fixed payment finance, you can have more reassurance that you’ll be able to make payments should anything not go to plan.
Where an Merchant cash advance really sets itself apart from other forms of traditional lending is how the product is aligned with the cash flow of the business. There is no APR attached to the cash advance and an all-inclusive fee is charged.
Merchant Cash Advance Has The Following Benefits For Business:
- Only pay back on future credit and debit card sales
- Works in line with your cashflow
- Unsecured cash injection (no assets required)
- No fixed monthly terms
- No business plan required
- High approval rates 90 – 95% acceptance
- Less paperwork and hassle
- Works with your existing PDQ Machine provider
- Cash Advance of £5,000 to £200,000
- Same day decision and funding within 48 hours
- Your cash sales are safe, only card payments are used to repay
Do I Qualify For A Merchant Cash Advance?
To qualify for a merchant cash advance, your business must:
- Must be based in the UK or Ireland
- Limited Company, Partnership or a Sole Trader
- Be trading for at least 6 months
- Accept credit and debit card payments
- Process at least £5000 in monthly card sales
A PDQ Cash Advance Loan can be ‘topped-up’ once you have paid back about half or two-thirds of the advance you’ve taken. It remains a facility you can dip into in the future if you need more business funds.
I have a CCJ and my personal file has historic bad credit, will I still be accepted?
There are no guarantees, however due to the flexibility of this loan, CCJ’s and adverse credit can be considered, and many past cases have been approved with bad credit in place. There is an 90 – 95% acceptance rate on this product.
Should you wish to discuss different funding options available to your business, the process is so simple.
- Complete the online enquiry form.
- Once it is received an alternative business funding expert will make contact with you.
- You can discuss the product and they will answer any questions you may have.
- Hopefully if everything if everything goes to plan, you will have your funds in the business bank account within 48hours.