Could my business be eligible for a merchant cash advance? If your business accepts debit or credit card payments, then merchant cash funding might work
Merchant cash advance companies, as the name suggests, are lenders that offer advances against the future debit or credit card payments you will receive from your customers. A merchant cash advance isn’t technically a loan, so it’s not bound by some of the restrictions which cover traditional loan lending.
If your company accepts credit or debit card payments for goods or services, then you may be able to access a cash advance against future card payments. The advanced sum is influenced by variables such as business turnover, track record of customer payments and amount of funding required. Interest is payable on the advance; this is repaid along, along with the advance, by taking a set percentage of the credit or debit card payments received for however long is needed to clear the debt.
For companies that feel this type of finance may work for them, we can explain in more detail how it operates, as well as find lenders who provide this type of product. Why not get in touch and take advantage of our no-obligation quote service for merchant cash advance programmes?