Merchant Funding Advance

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FAQs

Frequently Asked Questions

Find answers to common questions about our merchant cash advance product.

How do I know how much of my advance I've paid off?

You’ll receive monthly statements to keep you informed of your repayment progress.

How can I apply?

Applying is easy! Just click the “Apply Now” button on our website to access the quick and straightforward application form.

Will the application affect my credit rating?

While some lenders may conduct a credit check, each application is assessed individually.

What can I spend the cash on?

You can use the funds for any purpose, including stock purchases or business premises refurbishment.

Can you help my start-up business?

While your company needs to have been trading for at least 3 months, we’ll do our best to assist you.

How long can I borrow for?

Repayment timeframes vary based on your business performance. Typically, it’s 6 to 9 months, but can be as short as 4 months or as long as 18 months.

Is this a secured loan?

No, it’s an unsecured product, keeping your assets safe.

How long does it take to get the advance?

The time varies depending on how quickly you provide the necessary information. On average, funds reach your account within 5 days of application, and in some cases, even within 24 hours.

Do I need a card terminal?

Yes, a credit/debit card terminal is required for repayment. The provider deducts a small percentage from future card sales.

How much can my business borrow?

Discover your borrowing potential by applying now. Loan amounts range from £5,000 to £1,000,000, based on your monthly card takings.

Will my business qualify?

Ideally, your business should have been trading for at least 3 months and have a monthly card sales turnover of over £3,000. We strive to find solutions even if you don’t meet these criteria.

How much will it cost?

Pricing is unique to each business. You agree on a fixed percentage of your future card sales upfront, ensuring clear and simple costs.

Are there fixed monthly payments?

No, there are no fixed monthly payments. It’s not a traditional loan, and there’s no fixed term or APR. You only repay a small percentage of your future card sales.

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