Business finance is becoming harder to come by, especially since the recession. Approval rates for traditional business loans are low and interest rates are high. However, United Kapital has developed a new kind of borrowing which offers a more flexible and easier approach to access business finance.
A merchant cash advance is a type of finance which “advances” you a cash sum of your future earnings. This is repaid sensibly and regularly through a percentage of your future credit and debit card transactions.
As most hair dressers and beauty salons process payments in this way, repaying the cash advance could be completed sooner than you think.
You could be advanced anywhere from £3,500 to £150,000 which might be used for some essential company improvements or the purchase of new equipment. This might also involve the refurbishment of your salon or a complete new relocation. Some hairdressing companies decide to invest the money in rebranding or adverting, an important way of promoting a business.
Other salons use the finance as a way of proving healthy cash flow when paying off bills or negotiating bulk orders with suppliers. The possibilities and opportunities are endless!
The advance itself is unsecured and approval rates are high - unlike traditional business loans. Repayments can be checked and monitored whenever you like by logging onto your online account. This puts you firmly in control of your finances and in some cases you may qualify to extend your advance further, if required.
