Merchant Cash Advance

Get access to quick funds and repay the loan via your card terminal sales!

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Merchant Cash Advance

A merchant cash advance is a product designed for businesses that use a card terminal to take payments from their customers and which don't have a lot of assets.

 

We tend to find this type of product works best in the retail and leisure industry were customers purchase on cards.

 

Simply put, you use your card terminal to secure lending, and repayments are taken as a proportion of your revenue.  This type of product is better suited for businesses that process card transactions daily to ensure a higher volume for the lender to deduct their repayments from.

 

You will not need to change your card terminal provider. The product is designed to work around your current set up.

Would it work for me? And how much could I borrow?

Unlike traditional business loans, merchant cash advances are not solely dependent on a credit score.  This is because the lender ordinarily works with the card terminal issuer and will have the ability to monitor your monthly takings.

 

The amount you can borrow is dependent on your monthly card terminal sales. Ordinarily clients can borrow between £5,000 and £500,000 quickly and easily with funds being sent to you within 24 hours of approval.

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What are the pros and cons?

 You will be able to repay the loan in affordable monthly amounts that are agreed and deducted from your monthly card terminal sales, without even needed to change card terminal providers.

 

However, there are some disadvantages to using this type of finance:

 

  • Your monthly card sales dictate the amount you can borrow
  • It only really works if the majority of your sales are taken via card
  • Not all terminal card providers are accepted

 

A Working Example

Lets say you own a coffee shop, and your espresso machines breaks down.  You need to access funds quickly to purchase a new one but don't have the £10k needed, so:

 

  •  You apply to MyInfintiy Finance and we look at your last 3 months card sales
  •  We then approach our lending panel and secure you the best merchant cash advance deal
  •  You get the funds within 24 hours so you can purchase your espresso machine
  •  The lender then takes manageable monthly deductions from your card takings to repay the loan

 

Its quick, easy and hassle-free

If you would like to know more about a merchant cash advance or would like to apply please use the options at the top of this page.

Why choose us?

We are fully authorised and regulated by the FCA

We charge no up front fees

No obligation

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© MyInfinity Finance Limited - All Rights Reserved.
Co. Registration No:
08469710

Authorised and Regulated by the Financial Conduct Authority, Ref: 672182

Data protection act Reg No: ZA002246

 

Trading/Registered Address: MyInfinity Finance Limited: Suite 20, River drive, Cookson House, South Shields, NE33 1TL

 

MyInfinity Finance Limited acts as a credit broker and are not a lender.

Applicants must be aged 18 and over. Terms and conditions apply. Guarantees and indemnities may be required.

We do not charge our clients for any of our services but will receive commission from any lenders that we are successful in obtaining you finance from.  We will never ask you for any upfront payments. Our services are for UK businesses only.

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0191 300 9124

hello@myinfinityfinance.com