Business Finance

Merchant Cash Advance

Smart business funding –  How does it work?

Rather than a loan, we offer unsecured funding by purchasing a portion of your future card sales.

This smarter money management provides flexibility not only catering for your existing requirements but for your future needs. This means you can scale your business your way. And because you’re not tied to any fixed amount, you repay less when things are slow and more when business is flourishing.

Moreover, eligibility is simple; based on your card sales history, your business can access finance equalling its average monthly turnover of credit card transactions. And unsecured funding means you won’t need to use an asset such as a property to secure against borrowing.

There are no interest charges, no hidden fees, no need for a perfect credit score and because it’s not a loan you credit score will not be affected. 75% of all applications are successful and a pre-approved decision is made on average within 24hrs with funds received in 5 days.

Small business finance
Merchant cash advance

Merchant cash advances: Example case

  • A restaurant has a oven/cooker break down in the middle of a busy spell — it needs to be replaced as quickly as possible to maintain sales and reputation.

  • Merchant cash advance is approved based on the previous months card payment transactions.

  • Funds released immediately, so the new equipment can be ordered and installed  on site.

  • Repayments made as a percentage of each card transaction over the agreed period.

A merchant cash advance is a type of business funding that is designed to help businesses gain access to the cash they need in a flexible way. The lender provides the business with a sum of money which it pays back through a percentage of its customers’ card payments. Merchant cash advances are one of the most innovative products in alternative business finance. The concept has only existed for a few years, but it’s already proving very popular with retail businesses and the leisure sector.
Merchant cash advance

 

FPMS can provide an up-front cash injection for your business simply by arranging the purchase of future debit and credit card transactions. You choose the amount you need – anything from £2,500 to £300,000 based on your card takings history.

The cash advance is paid back to the purchaser at a mutually-agreed percentage of your daily receipts (up to 20%).

There are no interest payments and no hidden charges just one fixed cost which is agreed up-front. Moreover, you don’t need a perfect credit score to be approved, and because it’s not a loan you credit score will not be affected.

Merchant Cash Advance is an extremely competitive product in the market place.

The streamlined qualification process could hardly be easier. You could receive funds within as little as 5 days.

Get in touch today to discuss your requirements or if you have any further questions on a merchant cash advance, visit our FAQ section

Quick Enquiry

SALES

01276 782 222

CUSTOMER SERVICES

01276 605 690

EMAIL

[email protected]

firstpayments.co.uk

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Head Office

The Meadows Business Park

Blackwater

Camberley

GU17 9AB

Northern Office

The Atrium Building

20 Wollaton Street

Nottingham

NG1 5FW

Contact Us

Customer Services

01276 605 690

Sales

01276 782 222

[email protected]

Office Hours

Mon-Fri: 9am - 5pm
Sat-Sun: Closed