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Merchant cash advances

Merchant Cash Advances, Business financing, Manchester, Cheshire, Lancashire, UK

XL Business Finance is one of the leading specialists in short term unsecured business and retail finance using merchant cash advances

Merchant cash advances are a way of raising finance based on your future credit and debit card sales. If your business accepts credit/debit cards and processes at least £3500 per month and you meet a few basic qualifying criteria, then it may be possible to obtain unsecured cash advance for your retail business. Apply online

1. Funding available

Advances of £3500-£185,000 repayable over 6 months.  Based on the value of monthly transactions passing through your PDQ machines, repayment comes from utilising a percentage of credit and debit card takings and is geared to be repaid within 6 months. However unlike conventional loans there is no fixed sum repayment, just a fixed percentage of each repayment.

2. Qualifying Criteria for merchant cash advances

  • Your business has been trading for a min of 12 months ( 18 months for advances over £25,000)
  • You have at least 12 months PDQ statements
  • At least one year remaining on lease
  • Must average at least £3500 per month on card sales
  • Must be good standing with terminal provider- reference taken
  • Trade references required for advances over £25,000

3. Suitable for

Restaurants, Hotels, Bars Pubs, Hair and Beauty, Florist, Automotive Repair, Pharmacists, Dry Cleaners, Shoe repairs, Sports shops, Cycle shops, Butchers, Green Grocers, Garden Centres, Cash and Carry, Off Licences, Pet Care, Builders Merchants, Dentists, Vets , Convenience stores, petrol stations

4. What can I use the cash For

Stock, refurbishment, Vat payments, marketing and advertising, any  legal purpose.

5. Do I have to switch my card processor?

For deals up to £25,000 it is possible to stay with your existing card processor. For deals of £25k and over you may have to switch your card processor. There is the possibility that that switching your card processor could save you money on your processing charges.

6. Benefits

Repayments fluctuate with sales through your PDQ terminal

Cash sales are not taken into account

Proceeds can be used for deposit on larger items

Can be used to finance things bank won’t touch

7. Can I renew?

Subject to satisfactory performance the facility can be renewed used on a rolling basis

8.  Example

Petrol Retailer taking £15000 per month through PDQ machines wants to upgrade shop

Advance                              £11,500

Term                                    6 months

Repayment                        16.5% of card sales

Total Repayable                £15,000

Illustration purposes only.

9. How do I apply

You can apply online - click for further details.



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