If your business takes chip and pin payment over £5k per month and has been trading for 6 months or more you could qualify for immediate cash funding to help you through these uncertain times.
Funding is super fast. You set the repayment rate but only as a fixed percentage of your card turnover when normal trading resumes.
Apply now to see how much immediate cash funding you could receive.
All businesses are facing unprecedented uncertain times due to the impact of Coronavirus and none of us know when normal trading will resume and how deep the effect will be on business or our everyday lives.
To help protect the future of your business, our funding partners have launched a Business Funding scheme to provide immediate cash-flow support to your business. They have already helped over 9000 businesses across the UK with over 250 million pounds of finance and demand right now has never been greater.
If your business has been trading for 6 months or more, you can qualify for immediate finance of between £5K and £500K. This will be based on your non- cash turnover, i.e. chip and pin card turnover, online payments via payment providers over the past few months.
Put simply, this is just a cash advance against your future trading - but you only start repayments when normal trading resumes!
If you qualify, you’ll then be entitled to an immediate cash sum to boost your business cash-flow that will help you deal with these uncertain time until things get better.
There are no hidden fees and the cost of the finance is fixed and agreed upfront. There is no interest payable on the cost of the finance fee and the amount you repay is spread over a term you agree (usually between 4 and 24 months) and is taken as an agreed % of your future card turnover.
You can repay early at any time and there is no early repayment charge. If you decide to use this facility again in the future, the chances are you would qualify for even better rates.
This type of Business Finance is designed to give you access to immediate cash, give you complete peace of mind and do so in a way that is flexible and affordable to your business.
There’s no need to change banks or current card providers and the application is very simple and you should have a decision within 24 hours.
Our funding partners are here to help and ready to do all they can to support you through these uncertain times.
What can I use for the finance?
Almost any business purpose. This includes wages, cash-flow, stock purchase, new equipment, hire staff, refurbishment, tax bills etc.
What are the key benefits of this type of finance for my Business?
- High approval rate
- Fast Funds to your Business account when you need them most.
- Your repayments will always be in line with your cash-flow
How much can I borrow?
On average, 1 x your monthly card and non-cash turnover. If your business turnover is £40k per month, then our funding partners will aim to approve finance of at least £40k.
How do I repay the facility?
The facility is repaid daily, by the lender automatically taking an agreed % of card payments through the merchant's card machines.
Early repaymant fees?
How long is the financing for?
Typically between 6-12 months, depending on cash flow.
When can I have a decision?
Within 24 hours.
When will I receive funds?
Typically within 2-5 days.
What is the cost of finance/APR?
All costs of providing business finance are disclosed upfront with no hidden charges. As each business is different it is impossible to state until you have made your own application.
What's required to submit a full application?
3 months card statements, 3 months banks statements and ID for Owners/Directors. Having this information will speed up the process and help you get funds delivered to your business account in the shortest time possible. The more information you can supply, the easier the approval process will be.