Cash Advance

A Business Cash Advance or Merchant Cash Advance is effectively a fast business loan of flexible, unsecured cash into your small business.

If you are looking for working capital of between £5,000 and £100,000 to spend on anything you want like refurbishments, re-stocking, new equipment, paying off debt and emergency repairs and the bank isn’t helping then this may be the answer.

It’s an especially good product for businesses that need money quickly to make more money.

How does cash advance work?

It differs slightly between lenders but the essence of business cash advances are that is a flexible facility, whether you can borrow a month’s takings and pay it back as you earn, through a percentage of monthly credit and debit card sales.

In slow months you pay less and in busy months you pay more very handy for seasonal businesses.

So you won’t have to make a payment you can’t afford as it’s based on your business performance.
Unlike a business loan, there are hoops to jump through & you don’t need to have a squeaky clean credit record either you just have to simply demonstrate the level of takings usually averaged out over a six or 12 month period.
Also once you have repaid a certain amount you can go back and top up the facility.

A good overdraft alternative

We find it works well for new businesses with 6 months trading, as well as established businesses including:

Restaurants, Hotels, Salons, Clothes Stores, Garages, Florist, Butchers, Dentists, DIY Stores ,Garden Centres, Opticians, Pet Shops, Pubs, in fact any credit and debit card handling businesses, whether you are a limited company, partnership or sole trader, which is fairly unique.

Call Access Business Finance on 01744 333001 for more information or to arrange a quick quote.