A merchant cash advance is an innovative alternative finance product for the business. They have only been around for the last few years. But they are proving to be very popular, particularly with the leisure sector and retail businesses.
The ways a merchant cash advance works are simple. Using your card terminal you can ‘secure’ lending. This is ideal for any business that has few assets, but which may have a significant volume of card transactions each month.
Because repayments are taken as a proportion of revenue, this is an easy and quick source of funding for many SMEs.
Merchant cash advances are available to any business that takes payments with a card terminal. The way it works is that a lender will combine with the provider of the terminal so they can monitor what is happening. This enables the lenders to see how much money flows through your business. It means that there’s no call for credit checks or a detailed investigation into your accounts.
Because lenders can see what a business makes in an average month, agreeing a loan amount and repayment plan can happen much faster than with many other options.
If you tell Funding11 how much you are needing to borrow, we can find the most suitable lenders for you.
The benefits of merchant cash advances include:
Scalable and flexible finance, which means repayments are proportionate to your income. When things go well, you pay back more, but when times are lean you pay a smaller amount
Easy and almost painless repayments because the percentage taken for repayments is taken at source
Opens a new line of credit, which frees up your business to seek other forms of finance
If you think a merchant cash advance arrangement is for you then talk to Funding11 and we can tell you what is the best arrangement for your business.
Have Any Questions Regarding Our Cash Advance Loan?
Call us or you can apply online we aim to provide you with an approval within 1-2 business days.
The company must be trading for at least 6 months to qualify for our cash advance loan.
We need a minimum monthly turnover of £5,500 plus on your card terminal to qualify for our cash advance loan.
- If the business is trading for more than 1 year than we need last 12-month merchant card statement.
- if the business is trading for only 6 months then we need last 6 months merchant card statement.
No, we do not require a business plan or cash flow statement.