Business cash advance/merchant cash advances are simple. You receive the money you need to grow your business in a quick & flexible way.
What’s being sold in a merchant cash advance is the revenue from future credit card receipts. A retailer estimates the value of credit card sales over a specified period and receives a proportion of those sales as a cash advance.
The funder then has the right to receive the cash from those sales as they are made.
In both cases the funder takes a fee which is linked to the amount of money they have advanced. The amount of the fee, and other associated costs, will vary from one agreement to another. The rates charged reflect risk and the level of flexibility offered by the lender.
There's no business plans as the decision is primary made on the history of takings through the merchant facility there is no need to put together a business plan whereas with a bank you need.
Business cash advances/merchant cash advances offer a number of advantages over a traditional fixed term bank loan. They can be easier to get hold of, particularly for firms that are new or do not have a strong credit history.
They can also be very flexible. The initial payment can be made very quickly and repayments are tied to the level of business. This means that if business comes in faster than anticipated, repayment is made more quickly.
Call MaxpayNow on 0161 928 2287 to see if you qualify for a merchant cash advance & you could be on your way to receive between £3,500 - £25,000