Unsecured Business Lending based on your future card terminal [PDQ] transactions
Business Cash Advance – is not a loan, because there are:
- No APR’s
- No Fixed term contract
- No change to bank account –customer still retains own bank account
- No Early Repayment Charges or Penalties
- No Upfront Fee
- No Fixed Payment –lender gets paid when you get paid
- No Collaterals or Audited Accounts required
- A Factor Rate of 1.15 - 1.35 will be added to the total advance.
Repayment
Repayment is simple as there is no interest rate payable; the amount advanced is repaid automatically through the card terminal. So no direct debits or standing orders. For each pound that is taken through the card terminal, a percentage is automatically forwarded onto the finance provider, which means if the takings go up you automatically repay more.
In quiet trading periods less is paid back. So, another advantage of Cash Advance is knowing that the repayment terms are flexible so if you experience a quiet month, your repayments can be adapted as there is no requirement to be tied into a fixed lump sum repayment.
The funds, which are made available quickly, can be used for any purpose and you won’t have to prepare a business plan in order to go cap in hand to the Bank Manager.
How does it work?
Business Cash Advance provides you with business funding by effectively purchasing a small percentage of future card sales.
The amount you will be advanced equates to an average of one month’s card income generation.
A mutual agreed percentage of your future card sales are then deducted from each sale until the amount has been repaid [up to 20% of each card transaction]
The collection process is fully automated through your card processor, eliminating any requirement to write cheques or send money [e.g. if you take an average of £5,000 each month in card payments, our lender can advance you £5,000] once you have received this advance you start to repay the money each time a customer makes a card payment.
So, if a customer paid £100 for goods, the card terminal would automatically forward up to 20% to the lender and the remaining 80% would transfer to your bank account.
Funding Criteria
Qualification is SIMPLE, you need to:
- Take a minimum average of £2,500 in monthly card sales
- Provide most recent 6-12 months of card processing statements
- Provide three trade references
- Have a minimum of 1 year remaining on your retail lease
The Benefits
Our goal is to provide the working capital you need to grow your business…FAST. We’ve eliminated the red tape required by most capital providers allowing a rapid solution to your short-term cash needs.
The money can be used for any purpose including purchase of intangible goods, pay bills, settle debts, refurbish and expand/develop your business.
What do I need to do?
If you are interested in finding out more, you need to:
- Complete the Questionnaire
- Obtain 6-12 months of card processing statements [emailed copies are acceptable]
It takes approximately 10 working days to complete a deal [once we are in possession of all the necessary supporting information].
Same day funding also available!
Most advances are repaid within approx 12 months.
You will need to be utilising a Lloyds TSB card terminal [if not, there will be a requirement to change]. There is absolutely NO NEED TO change your bank account – your bank account will stay the same!
The maximum advance available is £300,000.
All card transactions are eligible [with the exception of Amex and Diners cards]
0% Unsecured Business Cash Advance Comparison Chart
| Attribute | Bank Loan |
Credit Card |
Lease |
Personal Loan |
Business Cash Advance |
| Same day funding available |  |
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| No business plan | |
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| One simple cost, no fees or hidden costs | |
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| 90% approval rate | |
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| Pay back only as you earn | |
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| Unsecured (home & assets are safe) | |
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