Flexible , unsecured funding for retailers

Merchant cash advances are a relatively new method of raising finance based on future credit and debit card sales. Eligible businesses will be in the retail sector, accept credit/debit cards and process at least £3500 in sales revenue per month.  Once this and other basic qualifying criteria is met, then it may be possible to obtain an unsecured cash advance.

Based on the value of monthly transactions through 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.  Advances of between £3500 and £185,000 are available and repayable over 6 months.

Typical eligibility criteria includes:

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

Eligible businesses include Restaurants, Hotels, Bars, Pubs, Hair and Beauty, Florists, 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 and so on.

The cash raised can be used for any business purpose such as Stock, refurbishment, VAT payments, marketing and advertising.  For deals up to £25,000 it is possible to stay with your existing card processor and the facility can be renewed on a rolling basis.

We can provide advice and guidance on all aspects of merchant cash advances. Why not contact us for a no obligation chat through the options.