Merchant cash advances

Get a quick, lump sum advance to spend on whatever your business needs

An overview

Get a quick cash advance of up to £1 million or more, based on your card sales.

Only pay the advance back when you make money: There are no fixed monthly payments to worry about, and agreed percentage repayments are tied directly to future card sales.

Key borrowing facts

  • Get a quick cash advance of £4,000 to £1 million, more for larger businesses
  • Repay only when you make money, calculated as an agreed % of future card sales
  • Suitable for new businesses: Just three months of trading needed
  • No possibility of late repayments
  • Unsecured: No property or other asset needed as collateral
  • Same day decision, cash in your account in as little as 24 hours
  • Simple application process with 80% approval rate

Frequently asked questions

What is a merchant cash advance?

A merchant cash advance is a lump sum payment, offered to a business based on its average debit and credit card sales. The business pays back the advance by giving the funder an agreed percentage of its future card sales.

My business is new, so we don’t have a long history of card transactions. Can I still get a merchant cash advance?

Merchant cash advances can be the perfect option for new businesses. Our unique relationships with specialist funders mean we can organise merchant cash advances for businesses that have traded for just three months. To be eligible, your business needs to be turning over a minimum of £2,500 a month in card sales.

Is credit history taken into account?

A merchant cash advance is worked out primarily based on the value of average card sales. This makes it a good funding option for newer businesses, without a long-established credit history. While your credit score is also taken into account, this model also makes it a feasible option for businesses with imperfect credit ratings.

How much will I have to pay back?

With a merchant cash advance, you only pay the loan back when you make money. Repayments are made as a set, agreed percentage of future card sales. This means you never have to worry about making a late repayment. It also helps ensure payments are always affordable, because they go up and down in line with your company’s income. During periods of very successful trading, you can clear your loan more quickly, while in the months you make fewer sales, you pay back less. If you make no card sales one month, you simply pay nothing back.

What can I use a merchant cash advance for?

You can spend a merchant cash advance on anything relating to your business, for example to buy new stock or equipment, to expand a business premises, or to pay employee wages.

When finding merchant cash advance deals, which lenders do you work with?

We are specialists in merchant cash advance funding and cover the whole of the market, so you can be confident we can access the best deal for you.

If my application is successful, how soon will the money be in my account?

Once an application has been approved, we can have the cash in your account within 24 hours.

Apart from the fixed % repayments, are there any other fees to pay to get a merchant cash advance?

At Cashback Business Loans we never charge the client a fee. The only upfront cost for a business is an agreed, one-off fee to the funding supplier for use of funds. The good news is that we give cashback on these advances.

I need to borrow more than £1 million, what should I do?

We don’t set arbitrary limits on the amount of funding we can organise for our clients. We assess every application on its merits, and regularly organise funding solutions worth several million pounds.

If you’re looking to borrow more than £1 million, get in touch and we can run through the best options for you.

 

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Get in touch

If you'd like to apply for business funding, or find out more about any of our products, just get in touch using our contact form.

Alternatively, you can contact us by:

Phone: 0800 009 6622

Email: info@cashbackbusinessloans.com