“Money is honey”, is a well-known saying but when it comes to Business growth and development it’s eventually sweeter and more essential than honey. As we all know the whole world is facing a pandemic situation due to COVID-19 and lockdown is everywhere, people are not allowed to come out, shopping are done online only, shopping malls, offices, high street shops etc. all are temporary closed. Even though everyone knows and suffering through this but still expenses are here. Business owners have to pay their rents, bills, mortgages, insurances, and many more other liabilities. Somehow governments are doing as much possible as they can to help out businesses and economy but still it’s not as much easy as it seems.
Recently, many people are experiencing a great hurdle in getting overdrafts, loans, new credit cards from their banks which were available even a couple of months before. All this unavailability of new allowances is just because of recent downfall of world’s economy.
While taking a note of world’s most well-known and well-developed countries, the United Kingdom is among the topmost countries who are affected badly in this whole scenario. On the top, Brexit also happened just a couple of months before. European companies are still not sure what to do, some are taking off permanently from the United Kingdom. Under all these critical situations, anyone can imagine how hard is now to develop or run a business either on smaller or larger scale.
If you are also a business owner and looking for some financial help, then here is a new promising option available for you and many more other business owners i.e. Merchant Cash Advance.
What is Merchant Cash Advance?
It’s a simple and unique concept of short-term loans without any annual APR charges. You can run or develop your business without any hesitation or worries of paying back a heavy loan for several years. The company will lend you an amount of money according to your needs and requirements which you have to pay back via a part of your earning. This whole process will work in a different manner. You will get funds against your upcoming expected sales which will be paid back with each transaction your customer will pay. The repayment session will typically last for 6 to 9 months and after gaining an adequate sales transaction history you can apply for further funding as well.
How Merchant Cash Advance will work?
Every time you made a sale via PDQ card machine provided by the company a portion of that transaction will directly goes to the lender. A fixed percentage will be set on which both lender and business owner will agree, most probably it will be about 10% only.
For example, if you get a transaction of £100 then you will get your £90 and remaining £10 will go to the lender. In this case you are not paying any interest but repaying your loan in smaller installments.
Who will get this Merchant Cash Loan?
- Company or business must be United Kingdom based
- Company must accept credit and debit card payments
- Have a history of 6 months trading
- Must have a monthly transaction of £5000 per months via card payment
Why you should go for Merchant Cash Advance:
- Apply and get funds in only couple of days
- No hidden extra charges
- Application process is simple and easy for all
- No fixed time period to return the loan
- No fixed monthly payments
- Only pay when you sell something
- Get a personalized manager who will deal with you specially
- No application fees
- No annual charges
- Bad credit check and history is not a problem
- Get cash advance from £5000 to 200,000
- 90% application approval rate
Getting a right financial help at right time is a most essential and desirable thing for every business owner and company. Making a right decision while knowing all facts on a right time is the only beneficial move for every business. Growing your business in any kind of hard or critical condition is the most important point but many of the companies face entering administration or become bank corrupt. Making a decision to get Merchant Cash Advance will defiantly a good choice to increase the cash flow and company’s history.