Merchant Cash Advance FAQs


 

 

Merchant Cash advance faqs

How does a merchant cash advance differ from a business loan?

A merchant cash advance is an better alternative to a bank loan.

The main difference between a merchant cash advance and other types of business funding is that you only repay when you get paid.

The two other differences between a merchant cash advance and a business loan are:

No fixed repayments: A merchant cash advance works by taking a small percentage of your daily card takings until it is repaid in full.

No fixed term: How much and how quickly you repay is directly tied to how much you have been paid.

When things are going well, you will pay back more. But if the business is having a leaner period, you will pay back a smaller amount

This is done automatically via your card terminal – so you don’t have to worry about remembering to make repayments.

Our flexible and automated repayment system offers peace of mind for busy business owners and many
types of business with fluctuating or seasonal revenue.

 

What is the Interest Rate?

There is no interest rate as such or APR but there is a fixed cost as a small percentage for the finance.

For example, a business receiving £10,000 could look to repay a total of £12,500 and the funder will simply
take a small percentage of each of your card sales until the £12,500 has been repaid.

The actual % amount will be agreed with you at the offset, depending on how quickly you wish to pay it off

 

Merchant cash advance

Get an instant decision and approval within 24 business hours.

 

What are the criteria?

You must have been trading a minimum of 6 months, and have a minimum monthly turnover of £3,000 in card sales.

 

How much could you get?

This will depend on your monthly turnover and card sales with some of our partners able to fund up to 150% of card turnover.

 

How soon can I get funded? 

Deals can be processed in as little as 24 hours but typically you’re looking at between 3 – 5 working days

 

Will you need to switch your card terminal provider?

No – our flexible funding solutions are designed to work around your current arrangement and keep paperwork and set-up to a minimum.

But we can also look at your current card processing pricing to see if we can help there also

 

How does this Merchant Cash Advance differ from other providers?

How much we can lend is based on the total business
turnover (and not just card revenue) – so there’s a higher chance of being approved for a larger amount.

 

With very little paperwork, our process is also one of the fastest and simplest.

 

Business Cash Advance

 

Apply now

 

i would like some more information 

Please use the contact form below and we will get back as soon as possible. 

Email us
info@businessmoneymatters.co.uk

 

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