How can I get merchant cash advance?

How can I get merchant cash advance?

Merchant cash advances are a convenient and accessible option for SMEs because the way they are designed can make them easier to manage. As the unsecured finance is repaid via card payments, it can also be a more affordable and adaptable option.

Business borrowers don’t have to navigate fixed monthly payments as they would with a traditional business loan. Every time a customer uses the card machine, a percentage is automatically transferred to the lender.

As such, the more money the business earns through card payments, the quicker it pays off the cash advance. Of course, it works the other way around too.

One of the first things to consider is how much you want to borrow for your business. This depends on what you plan to use the money for.

For instance, if you need to buy some equipment or a specific product or service you can make a fairly accurate estimation. However, if you’re planning to use it for a renovation or business growth you may need to do a little more planning.

The lender will take your average monthly turnover into consideration to work out how much you’ll be able to repay comfortably. There are a few options out there and each provider offers something different. For instance, repayment lengths can vary, as can interest rates and TCs. Funding Options can help you search the market to find an option that aligns with your needs and circumstances.

Why choose Funding Options for a merchant cash advance? Read More