Business Cash Advance UK

//Business Cash Advance UK

Are Business Cash Advances The Best Option For My Company?

What are Business Cash Advances and what are the best options for my company? The number of companies using a business cash advance is growing, but what is it, how does it work and is it the best option for your business? Access to finance is a critical issue for businesses of all kinds. Ever since the financial crisis, banks have been reluctant to lend money. The options if a business needs a short-term injection of cash can become quite limited, which leaves businesses looking around for options. One of the best option’s are business cash advances.

What are business cash advances?

Business Cash Advances best option

What are my companies options with a Business Cash Advances in the UK.

Business cash advances effectively allows you to borrow against your future card sales. Providers only look at the amount of revenue you receive through your credit and debit card sales. They will advance a lump sum based on past performance which you can put to any use you like.

They recoup their money by taking a cut of your future revenue until the sum has been paid off. In good times, when card sales are busy, you’ll pay it off more quickly, and in slower times, your payments will decline making everything a little more manageable.  

Why use a business cash advance in the UK

There are many ways you might want to use a business cash advance in the UK. It could be a good way to give yourself a cushion when you’re coming into a fallow period. Many businesses in the UK will be seasonal and can experience peaks and troughs. Like squirrels preparing for winter, they will be looking to build capital during the busy periods in order to see them through the quieter times. If they can’t, for any reason, it might be difficult to get through winter. A merchant cash advance UK can keep you in business until better times swing around.

You might also use it for more positive reasons such as investing in business improvements. We live in a fast-paced digital world and, if you’re not moving forward, you’ll be heading backwards quickly. You need to innovate to survive, but that takes money. You may use the capital from a business cash advance to invest in new infrastructure equipment or people. This means that, even if you don’t have much money in your account, you can still capitalise on developments which can move your business forward.

The best alternative option to loans

One of the biggest attractions for small businesses is the thought of using a different option in place of business loans. If you have a poor credit history, you might not qualify for a small business loan. There may well be some providers who will specifically offer loans for companies with a bad credit history. However, these can be expensive and may do nothing other than force you deeper and deeper into debt.

A business cash advance is quicker and lighter on the paperwork. Because this is an advance, the provider will not need to know as much about you as your bank. They can process the money and have it in your account on the same day.

Business types that can use the best advance

The cash advance for business works best for companies in the UK that take card payments. A card payment terminal is requested for the cash advance. Merchant cash advances for pubs, Merchant cash advances for MOT Centres, Merchant cash advances for hairdressers, Merchant cash advances for retailers. this list is endless to the types of business that this finance product can support.

Getting hi tech

We are also seeing some of the best business cash advances providers getting ready for the digital future. Two companies, Swift Payments and Bitty Advance are pairing up to offer a virtual merchant cash advance service. This provides users with instant access to virtual funds after they have secured a business cash advance. These funds can then be paid into a mobile wallet such as Apple Pay.

Are they worth the money?

Of course, there is one drawback: money. The best business cash advances with no credit checks will inevitably cost money. You’ll be paying a daily retrieval rate until the money is paid off and you’ll also have to pay fees. These may vary from provider to provider so it is important to shop around and secure the best deal possible.

Ultimately, the question revolves around whether or not you will receive a decent return on investment. The answer depends on how you use it. A good way to use a merchant cash advance is to inject working capital into an otherwise healthy business which is running into a cashflow brick wall. In this situation you only need to stay afloat until business picks up.

However, if the fundamentals of your business are not quite as strong, you could simply be postponing the inevitable. An advance may squeak you through this crisis, but you may find yourself facing another, bigger one, before long. If that’s the case you could be throwing good money after bad.

A merchant cash advance, then, is a lot like any other financial product. Whether it is value for money or not will depend to a large extent on how you use it. 

Get the cash flowing

If you feel business cash advances can support your business, the best way to get started is simply  complete the online enquiry. Once its received a funding expert will contact you.

GET A QUOTE

By | 2019-02-17T20:07:28+00:00 February 4th, 2019|Business Cash Advance UK|0 Comments

Why Business Cash Advances in the UK may work for you

If you need a short-term capital boost, business cash advances for the UK may well be the answer you’re looking for. Here’s why. Every now and again a time comes when your business needs an injection of capital. It may be because you want to invest and drive the business forward. Sadly it may be something less pleasant such as a cashflow crisis. Either way, you may find yourself in need of a capital boost to ensure your business moves forward, but where can you find one?

With banks increasingly reluctant to lend, business cash advances in the UK may be the perfect solution.

How do business cash advances work in the UK

Business Cash Advances in the UK

Business Cash Advances in the UK

Businesses face a number of pressures. An increasingly uncertain economic climate means many are operating on tight profit margins. Furthermore, banks continue to be reluctant to lend which means many firms may find themselves unable to access capital.

That could be an enormous problem if you need money in the short term. The solution could lie in alternative forms of finance such as a business cash advance.

Unlike bank loans, a bad credit score will not be a huge problem for the simple reason that this is not a loan. It is, as the name implies, an advance made against the future performance of your business. You will receive a lump sum. In return you will pay the provider a proportion of your future credit or debit card sales until the money is repaid.

The amount you can receive will depend on your previous sales. The best business cash advances provider in the UK will use this data to calculate how much they would expect you to earn for the duration of the contract. You will then pay back a percentage of that revenue and an agreed fee.

Why use a business cash advance

The main attraction for businesses is the speed with which you can arrange a cash advance. In some cases, you may be able to get the cash you need within a few hours. In comparison it could take days or weeks to get a decision on a bank loan. There is less paperwork to manage, which also reduces the time you spend on administration and frees you up to work on growing your business.

It is also more accessible. Business cash advances typically have high approval ratings. A bad credit history, for example, will not be as much of a barrier as it would be for securing a loan. It is also more flexible. Because payments are structured as a percentage of your sales, you only pay back as much as you can afford. If business is not as good as you expect, for some reason, your monthly repayments will be lower.   

How to use it

You may use the cash advance in any way you wish. For some this is a chance to solve a short-term cash-flow crisis or cope with a large bill which needs to be paid. If money is tight, this could help you meet your obligations, manage your payroll and keep going until your money comes in.

Equally, some businesses may use it to invest in their future. The world of business is evolving rapidly and becoming more competitive. In many cases, you may face an unenviable choice between moving forward or facing oblivion.

For example, the rise of digital technology offers a host of opportunities to improve business performance. If you don’t adopt this technology, your competitors will, in which case they will be able to deliver services more quickly and cheaply. In the long run that could put the health of your business in jeopardy.

A lump sum will give you the capital you need to make this investment and ensure you keep pace with the competition. Cash advance loans are offered though a business credit card machine is relatively new type of business borrowing in the UK. Alternative finance has seen an explosion over the last five years.

Choosing the right merchant cash advances in the UK

When used in the right way, merchant cash advances can have enormous benefits for UK businesses. That said, it may not be for everyone. The contract will only be made on your revenue from credit or debit cards. It would be a particularly good idea if you’re a retailer taking card payments over the till. On the other hand, if you are paid in a different way, such as a bank transfer, this may not be the best option for you.

The fees can be quite high so it’s important to shop around. Make sure you understand all the costs you will be charged so you have a clear idea of how expensive the deal will be. Browse the market and spend time finding a provider offering the best terms for you and your situation.

As with anything, a merchant cash advance UK should be approached in the right way. You should weigh the costs against the benefits, research the market and make sure you have a clear plan for how you intend to use the money. If you have all that in place, this could be a crucial tool for the future of your business.

How do we get a cash advance for business

If you feel that a cash advance for business may help support your UK based business. It is so simple to raise business finance working capital with the cash advance. To apply for unsecured business funding of up-to £200,000 in a few days. Complete the online enquiry form to get started.

 

By | 2019-02-04T18:59:39+00:00 January 7th, 2019|Business Cash Advance UK|0 Comments

Business Cash Advance UK | Business Cash Advance Lenders

Business Cash Advance UK is an alternative funding solution that uses your card payment machine.  If your company takes card payments you could receive a business cash advance unsecured loan that is repaid as a percentage of your future receipts through your PDQ machine. This alternative short term financial product is ideal for companies that take lots of card transactions via their PDQ Machine. if your company would like financial support up to £200,000 then a business Cash Advance UK would fit the gap!

PDQ Funding are one of the UK’s leading Business Cash Advance Leaders. We have supported over 1000 business with cash advances. Given this flexibility of repayment, a Merchant Cash Advance or a Business Cash Advance UK as it is sometime know is very suitable for the hospitality sector. Other business types like retail also benefit greatly from this product. The funding could be used for anything but most invest in stock, equipment or refurbishment. Those simply needing help with cashflow or trying to plug a gap with other mainstream financial solutions.

BUSINESS CASH ADVANCE

Business Cash Advance Funders in the UK

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

Business Cash Advance Companies

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 with no credit checks 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 – Cash Advance

Business cash advances are 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. The cash advance for business is not a loan product. This is due to the product 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.

Qualification Criteria

You need to be taking at least £5,000 in card payments each calendar month.  This should also be spread over a minimum of 10 separate transactions. The business should 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 Credit Card Cash Advance

Need more information on business cash advance UK? The process is so simple, quick and easy. Just complete the online enquiry form. Once it has been received a cash advance specialist will contact you. They will talk though all the aspects of a business cash advance UK funding product.

GET A QUOTE

By | 2019-02-17T20:12:23+00:00 February 5th, 2018|Business Cash Advance UK|2 Comments