MERCHANT CASH ADVANCE
Corporate Business Loans offers a simple, easy-to-administer merchant cash advance scheme, called ‘cash advance for businesses’ in England & Wales. Merchant cash advance is a fast and flexible alternative to traditional unsecured loans. It is available to businesses that receive payments through credit and debit card terminals.
Merchant Cash Advance-Perfect for businesses with fluctuating cash flow
A merchant cash advance is perfect for small to medium-sized businesses and retailers that process more than £3,500 of card income through their merchant terminals each month. The flexible repayments mean that your cash-flow is not impacted, so you don’t have to worry if you have a quiet month. The merchant cash advance scheme is particularly beneficial for seasonal trades and businesses that experience highs and lows in their monthly cash-flow.
No repayment deadline and no monthly interest rate
The repayments you make are an agreed monthly percentage of your future card transactions, which you make until the total amount is repaid. There is no repayment deadline to meet and no monthly interest rate.
Your borrowing facility is based on your average monthly card income. For example, if your monthly income is seasonal with highs in the summer months and lows in winter, but your annual card income is £150,000, then you will be offered a facility in the region of £12,500. This can be repaid as a percentage of future card income, regardless of what that income may be. If you do not receive any card income in any one month, then no payment is expected.
The merchant cash advance scheme has no hidden fees or charges
With our merchant cash advance scheme, there are NO hidden fees – NO charges for applying, NO charges to renew and NO fees for collecting the repayments from you each month.
When 50% of your merchant cash advance has been repaid, you will be eligible to re-apply to use the facility as an ongoing source of immediate business funding.