Merchant Cash Advance
Here at Card Cutters, we understand the frustration of looking for finance for your business, especially if you have been rejected by your bank for a loan or overdraft that will enable you to improve and grow your business. We are able to offer your business a Merchant Cash Advance.
We are pleased to offer your business our Business Merchant Cash Advance which is a safe alternative business funding option.
Unlike the more traditional form of lending from your bank, it works by funding your business based on your predicted future credit card sales for anything between £3500 and £150,000.
Some of the advantages of a merchant cash advance are:
> No personal or business guarantees required as security
> Minimal paperwork
> No business plan or forecasts necessary
> Flexible repayment options linked to turnover
> Poor credit rating still considered
> No early repayment penalties
> Quick decision
> Funds can be used for whatever purpose you wish.
A Merchant Cash Advance will allow you to make repayments on your original advance amount through a low cost, fixed percentage of your credit card sales, which will be based on a number of sales from your customers.
With a Merchant Cash Advance if sales in the month following you advance are slow you will pay back less. If sales increase you will pay back the advance quicker but you will keep the same percentage of your sales ensuring your business has the cash flow to operate.
The application process is simple;
> You will be asked some basic financial questions about your current business including the amount you wish to lend and your predicted sales.
> You will need to provide a copy of your most recent merchant statement to verify your turnover to predict your repayment plan.
> You will receive a response within 24 hours from a highly-trained adviser and your funds can be with you within five working days.