Here you will find answers to the most frequently asked questions (FAQs). Find out more about the merchant cash advance product that we offer.
The amount you can borrow will depend on your average monthly card takings. The amount of credit available is between £3000 and £300,000. Apply now to find out what you can get.
It’s a short-term funding product. The time it takes for you to pay it back is based on your business performance – in slow times, you pay back less, and in good times you pay back faster. Typical repayment timeframes are 6 to 9 months, but can be as short as 4 months and as long as 18 months.
Ideally, your business must be trading for approximately 3 months and turning over more than £3000 in card sales a month. Don’t worry if you can’t meet this requirement, we’ll do our best to work with you to find a solution.
A merchant cash advance is a repayable short-term alternative to a traditional cash loan. Every business is unique, so pricing is unique. The cost is clear and simple: You agree a fixed percentage of your future card sales upfront and this doesn’t change.
There are no fixed monthly payments. It’s not a traditional cash loan, so there’s no fixed term and no APR. You only pay back a small percentage of your future credit and debit card sales.
Some of the lenders we work with may do a credit check. However, all applications are assessed individually.
No, it’s an unsecured product so your assets are completely safe – there’s no worry.
This all depends on how fast the information is provided. On average it takes around 5 days after your application for the cash to reach your account. In some cases funds can be with you in less than 24 hours*.
Yes, your credit/debit card terminal is needed for you to pay back the money. The provider only takes a small percentage of future card sales.
You will always be kept up to date with a monthly statement on how your repayment is going.
You can spend it on whatever you like. The most popular uses are to buy in new stock or to refurbish business premises.
You can apply online. Simply click one of the purple ‘Apply Now’ buttons that appear on each page of our website. This will take you to our quick and easy application form. Once you have filled in the details required (this shouldn’t take more than 60 seconds) simply submit the application – it’s that simple!
Although your company must be trading for at least 3 months, we will do our best to help you.
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