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Most businesses require finance at times, and the traditional way of raising finance through a business loan, may not always be viable.
Well due to more and more people paying via card, as opposed to cash, an alternative type of finance is becoming increasingly more popular.
This would be in the way of a Business Cash Advance.
This is a type of alternative finance that allows merchants to raise funds based on their merchant card sales, the funder will apply a fixed agreed amount in the beginning and then a fixed % of future merchant card sales.
Business Cash Advance
- Borrow £3,500 – £500,000
- Minimum of 4 months trading
- Minimum turnover of £2,500 per month through card terminals
- Non-homeowners considered
- Our funders can work with all card terminal acquirers
- No fixed repayment period
- When the business is quiet, you pay less, you only pay as you trade
Business Cash Advance Example
Amount Funded: £20,000
Factor Rate: 1.12
Amount Repayable: £22,400
Monthly Repayment: 10%
In the illustration below, when a card transaction is made the funder receives their agreed split of 10% on every sale made.
This is not interest, the interest has already been agreed and added upfront, this is the percentage of merchant card sales that you will repay.
The Funding Store have a panel of lenders that can assist with your search for that right business loan. Once you have decided what best suits your business needs then why not contact us on 01908 880420 or request a call back at a more convenient time.
It is a really flexible type of funding to take as you have no hidden charges, no early or late fees and the repayments are based on your card transactions. So when business is good, you repay more sooner and when your business has a dip in sales, you repay less.
Business Cash Advance Funding
There is no single funding solution that works for every business, so we tailor our service and support to your needs. We work with a wide range of reputable lenders to bring you choice and competitive finance options.
Contact us today to discuss how a Business Cash Advance would work for your business
We work with all types of businesses in the UK. Apply for finance via the form on this page or contact us, 7 days a week, to discuss your requirements.
Our UK based account managers are experienced in business and finance and can talk you through your options and build a tailored solution that works for you.
