Obtaining a cash advance is a very attractive prospect for many small businesses that need finance to help secure company goals by promoting and extending the business. Receiving a loan in the traditional sense implies fixed monthly payments, early repayment fees and strict application criteria.
However, a more alternative solution would be a small business cash advance which is ideal for small businesses such as hotels and bars across London, Manchester and the UK who process more than £3,500 in credit or debit card payments each month. The repayment of the cash advance is made using a fixed percentage of each credit or debit card transaction which is made at your business until the full amount advanced has been settled. This is an attractive alternative loan solution for many small businesses. It is great alternative to an unsecured loan or short term loan which is not secured to any asset.
Acting as a flexible alternative to traditional lending, the repayments can be checked regularly by logging onto your account and checking daily or monthly statements, available to view any time of the day.
Many small businesses benefit from this type of small business loan by using the money to refurbish premises or purchase new stock. This helps the business to gradually grow and if required the cash advance can be extended providing you are in good stead with your current repayments. You may also use the finance to buy new premises which is something that many people would like to do but simply do not have the capital.
Applying for the small business cash advance is simple as it can all be managed online. With high approval rates the decision can be made quickly and if approved the cash may be in your bank account in less than fourteen days!
