It can be difficult for many small businesses such as hotels, cafes and restaurants to expand or promote their businesses in this difficult financial climate. Often, a cash injection is required but usually difficult to come by especially if applying for traditional small business loans.
Traditional bank loans can be difficult for small businesses to obtain and repay because of their low approval rates, fixed monthly payments and early repayment fees. However, a new alternative type of lending offered from United Kapital can help many small businesses to gain valuable finance for essential company goals
The alternative type of lending is a merchant cash advance and unlike traditional small business loans it is unsecured and provides quicker access to funding than a short term loan. This is because the advance, which can be anything from £3,500 to £150,000, can be repaid more efficiently using a fixed percentage from each of your future credit or debit card payments you take from customers rather than having a fixed monthly business loan repayment fee. This means you may even pay the advance off quicker than anticipated, with no early repayment fee, the Merchant Cash Advance is a more sensible and flexible way of borrowing money than traditional small business loans.
Qualifying for the cash advance, you must be processing more than £3,500 a month in credit and debit card sales, which is something that many small businesses do. Accepting card payments are now one of the most popular ways of processing customer payments in small businesses across London, Birmingham, Manchester and across the UK.
Applying for a merchant cash advance is simple and can be made online or by calling one of our helpful advisors. Your repayments can also be tracked to help you keep on top of your borrowing and repayment progress with our secure online merchant account access available 24/7.
Many small businesses use this valuable form of business cash injection to:
