Compare Merchant Cash Advance UK
What is a merchant cash advance?
Compare Merchant Cash Advance UK is a innovative products in alternative business finance but we compare the right merchant cash advance for your business, saving you time and effort. Business Cash Advance has only existed for a few years in the UK, but it’s already proving very popular with retail businesses and the hospitality sector. Compare merchant cash advance UK uses your card terminal to ‘secure’ lending — perfect for businesses without many assets, but who have a good volume of card transactions every month. Repayments are then taken as a proportion of your revenue, making it a quick and easy funding solution for many SMEs.
Raising working capital can be a challenge for small businesses for many reasons, turnover, credit history this list is long. You may not have the cash flow right now to apply for a bank loan. You may not have been in business long enough for a bank to view your companies credit record. The strong business plan you have may simply seem too risky to a bank as you have no security. What many business owners don’t know is how to use alternative business lending to finance their businesses.
A merchant cash advance is an unsecured finance option that is generally short term and quite flexible. It is used for cash flow management, growth, refurbishment or purchasing stock.
Loans are offered with an agreed total amount repayable. This figure is based on your business’ annual revenue to ensure repayments are manageable and you only pay as you earn. With a merchant cash advance, repayments are generally taken as a fixed percentage of revenue through PDQ terminal payments.
Who Could Benefit From a Merchant Cash Advance?
This type of finance suits any business that regularly use PDQ transactions, such as those in retail, ecommerce or hospitality. Repayment time is dependant greatly on the amount of revenue you earn – making APR comparison difficult.
If you choose not to use bank funding for whatever reasons, a merchant cash advance can be a good idea. These are seen as a fast and flexible form of alternative business finance, with most borrowers receiving a lending decision within 24 hours of applying. The way a business cash advance works is that a business owner applies for a certain amount of credit, and then is required to pay the money back when it starts making sales. So, in effect, you are receiving a business cash advance that is repaid through transactions in the future. Merchant cash advances of up to £200,000 have been know to be advanced to companies in the UK.
The amount you can borrow will be based on your revenue, but generally you can borrow anything up to £150,000. Unlike most loan solutions, the repayment amount is decided upon beforehand – for instance, for a £10,000 loan could have an agreed repayment of £13,000, and the amount of time this takes to pay back will depend on your revenue.
Compare merchant cash advance will save you up-to 20% by using our service, every funder is different, most are set to different sectors, some like retail, some like hospitality. As a leading merchant cash advance broker we get preferential rates that will save you up to 20% on your business advance.
Get Business Funding with PDQ Funding
PDQ Funding is a business loan alternative that gives business owners some much-needed liquidity in their businesses. This money can then be used to pay for expenses like payroll or bills and is an excellent way to reduce debt in the short run.
Lenders base your ability to repay them on your history of cash flow, so you kind of need to be making money to get more. Again, this is a good choice for those who have an established business say six months and over, so new starts are sometimes left out!
We will work with you to find the best lead to fit your business, time to repay, cost and customer satisfaction. Please feel free to contact the compare merchant cash advance UK team should you need more information.