What Is A Business Cash Advance?

After the economic downturn the UK experienced back in 2008′, borrowing from banks is proving more difficult for companies who are looking to obtain capital to pay for a specific job or to finance a forthcoming exhibition at short notice. Stringent checks are often carried out, making it a stressful process and deterring individuals as a result. With the restrictions in accessing finance from traditional sources such as the High Street Banks, the market has seen the emergence of new and innovative ways to raise short term working capital. One of which is probably unknown to many businesses is the business cash advance. A recent survey produced, showed that 90% of applications made for business cash advances are accepted.

With the majority of UK businesses now accepting card payments, and this figure set to increase in 2016′, the business cash advance is another option available to them, without the need for security or any other commitment by the business.

Business Cash Advance

It’s extremely simple, the advance is based on the volume of card payments taken by the business and repaid out of the future card receivables taken by them via their Card Machine. In other words you can have an advance today, and have the funds in your account in as little as 24 hours, and pay this amount back each month at a percentage of the amount received through the Card machine.

The product is designed to give businesses a financial boost, and help unlock future sales potential. It is also extremely popular with exhibitors who have costly outlays in the lead up to an event.

The cash can be used for any business need, whether that’s working capital, pop up stores, flash sales, renovating or refurbishing existing premises, marketing literature, forthcoming exhibitions, purchasing equipment, branding, stock purchases,additional stock, wages or any other business needs they might have.

As Autumn approaches, more and more people are opting for a business cash advance to give their company a much needed boost.

Unlike a traditional bank loan there are no up front fees, no fixed monthly payments, high approval rates and there is a very fast turnaround with many customers seeing funds in their account in less than 24 hours, and best of all there are no complicated APR’s.

The loan can be extended or used again at any time to ensure an on-going source of capital as a business grows. The emphasis on a business cash loan is you only ever have to pay back when your customers pay you. Head over to our Business Cash Advance Page for more information or contact us today.