Business Cash Advances
Although only available in recent years, for a few years, Business cash advances are increasingly popular with retail and service businesses and in the leisure sector.
Quick Quote
If your business accepts payment from customers using card terminals, a business cash advance is a useful way to increase your working capital. Because it is tied to the level of card sales and not dependent upon security being given, it is particularly useful to businesses like retailers, pubs, cafés and restaurants who don’t normally have a large number of other assets.
The amount advanced is usually expressed as a percentage of monthly card sales. The amount borrowed it then repaid as a fixed percentage of your daily card sales, which means that repayments can feel relatively painless and reflect the amount of cash taken every day.
Because the business assets are not required as security for a Business Cash Advance, they are available to other lenders effectively increasing the amount that may be borrowed, so It’s possible to get other types of finance for your business at the same time as a business cash advance.
