Merchant Cash Advances, also known as Business Cash Advances, are a quick and easy way to convert your future credit and debit card sales into immediate cash to spend on any of your business’ requirements. They are a simple alternative to unsecured bank loans and overdrafts.
At 365 Business Finance, they’ve helped businesses across many sectors get the finance they need. they’ve provided cash advances to cycle shops, convenience stores, butchers, greengrocers, pet care stores, garden centres, sports shops, off-licenses, shoe repairs, cash and carry, and just about any other business that accepts credit and debit cards.
As a business owner, are you considering expanding your store or making costly refurbishments? Are your suppliers unwilling to provide you with the credit line that you previously received? Or maybe you need to purchase stock ahead of a busy sales period? Perhaps you’d like to launch a new website or run an advertising campaign? Whatever the reason, you need cash now, but you’re not sure how to proceed. You’ve thought about a small business loan, but some banks have imposed tighter restrictions, some require security and detailed business plans, and even if you do qualify, you may have to wait for months to get the funds.
With our Cash Advances, you can avoid some of the hassles of a traditional business loan by utilising your future credit and debit card sales to secure thousands of pounds of ongoing finance for your business. Our unique repayment plan takes a percentage of your daily card sales (typically between 5% and 20%) until the advance is paid off. A traditional loan requires fixed monthly payments irrespective of how your business is performing, but our financing process is designed to match your business’s performance, so during quieter periods, you pay back less. The process happens automatically so there isn’t an extra bill to keep track of each month. Our application process is fast and simple, and you can have your money in days.
Here are a few examples of how our cash advances can be utilised:
- Equipment purchases;
- Bulk stock purchases;
- Marketing and advertising;
- Website development;
- Recruiting staff;
- General working capital needs
3 Steps to Growing Your Business
1. Monetise your future card sales
They will buy a fixed amount of your future (credit and/or debit) card sales
2. Get your cash in days
You’ll receive the lump sum directly into your bank account to use on any business requirement.
3. Watch your business grow
You repay a small percentage of your card sales. Repayments are automatically processed and hassle-free.