banner-merchant-cash-advance

Whether your business is facing a cash flow problem or you intend to grow your business financially, a merchant cash advance is a type of business loan that can help the best!

For many businesses getting a Merchant Cash Advance has never been easier before. But with 24/7 Business Finance, if you own a business that uses a card terminal to take payments from customers, you can apply for Merchant Cash Advance within no time. We being the pioneers of alternative financing, believe in the ease of our customers and hence provide short and straightforward solutions to apply for finance.


Contents:

  1. How does Merchant Cash Advance work?

  2. What you need to know about Merchant Cash Advance! 

  3. Is my Business eligible for Merchant Cash Advance?

  4. Why should you choose 247 Business Finance? 

  5. Pros of Merchant Cash Advance 

  6. Bottom Line

  7. FAQs

 

For many businesses getting a merchant credit card, or advance loan has never been easier before. But with 24/7 Business Finance, if your business uses a card terminal to take payments from customers, you can apply for Merchant Cash Advance within no time. We being the pioneers of alternative financing, believe in the ease of our customers and hence provide short and straightforward solutions to apply for a quick business cash advance.


HOW IT WORKS

We work at the ease of our clients

24/7 Business Finance helps small businesses to get merchant cash advances from several lenders for a certain amount of funding and gives you a lump sum amount of money right away. You can then quickly repay the money you receive with fees, using a percentage of your future sales. So, don’t get into the hassle of filling out long applications and submitting so many documents and get the business merchant loans by following three simple steps here.

Apply Now -1

Apply

Apply for the Business Finance now and get a quote in less than 2 minutes.

Approve - 2

Approve

Get an instant financial plan and sign the credit application.

Receive - 3

Receive

Receive the money within next 24 – 48 hours.

240+

Satisfied Clients

See what our customers have to say on our alternative business finance.


What you need to know about Merchant Cash Advance!

A merchant cash advance is a cash advance for business owners that allows businesses to access cash quickly. The lender gives the company a cash advance, which it repays using a percentage of its customers’ card payments processed through a card terminal. A merchant cash advance is a unique type of alternative business financing where businesses use a card terminal to secure lending. So, if you are looking for business finance without assets but have a high volume of card transactions, you are at the right place!

Apply for Merchant Cash Advance

 

Is my Business eligible for Merchant Cash Advance?

Getting a merchant cash advance is easier with 24/7 Business Finance. You must be trading for 3 months minimum and have a maximum turnover. Please read below the eligibility criteria and apply for a merchant cash advance now to make it simple and clear.

  • Your business is trading for 3 months minimum.
  • Your business should have a minimum £25k annual turnover.   
  • You must be an owner or partner of the company.
  • Your business must be based in the UK.  

Why should you choose 247 Business Finance? 

Usually, when a business applies for finance, its credit score got affected. But with 24/7 business finance, we believe in soft-checking of credit points which doesn’t affect your business’s credit score in any way. 

A merchant cash advance is customized to your company and the quantity of money it generates, providing you more confidence in your capacity to repay the loan. The amount you can borrow is determined by several factors, including your average turnover and the lender’s assessment of your ability to repay the loan.

We have a range of merchant cash advance lenders at 24/7 Business Finance, and we can help you find the best one for your business. Don’t hesitate to contact our team right now to begin your merchant cash advance application here.


Pros of Merchant Cash Advance  

 

Business Loans include different types of loans to facilitate small business growth. But Merchant Cash Advance is a very convenient type of business loan because it provides a way for small businesses to pay off their debts, or at least part of the debt, without having to wait years until the government can make sure they don’t default. 

So, keeping in mind we see many benefits of merchant Cash Advance  As not all small businesses can obtain business loans from the banks to complete all of their objectives but merchant cash advance is ideal for a small business that needs more funds to improve its competitiveness and overall functionality.

Pros

There are several benefits to merchant cash advances. They might prove to be a helpful option if your business needs to swiftly raise finance or seize an opportunity. Even, this quick turnaround can help if you have a serious cash need and have no other options. 

  • An MCA can be secured within a few days, and often in less than a week. Cash advances can also be very useful when you have an incredible opportunity with a short deadline.
  • The approval rates for cash advances are extremely high, and obtaining this sort of funding is comparatively simple. Basic business details, an application, and a few months of bank statements are typically all you need.
  • Cash advance companies (MCA) do not require upfront assets as collateral. The main requirement is to have a good sales track record and a strong potential for future sales. 
  • You do not need to have high assets to get funded by an MCA.

Bottom Line

There are numerous advantages of merchant cash advances. They can, however, cause issues if utilized improperly, just like any other financial product. But to make you cover we are here to give personalized guidelines to your business to tell you how these transactions are funded and if or whether this is the best course of action for your business. Ideally, we suggest you only think about getting a merchant cash advance  only if you can afford to pay for it.


FAQs

  • Can I get a merchant cash advance?

If you run a business that uses a card terminal to take payments from customers, you can apply for a merchant cash advance from 24/7 Business Finance. 

  • Does the merchant cash advance affect my credit score?

No, with 24/7 business finance, your credit score will not be affected.

  • Is merchant cash advance reliable for personal investments?

No, a merchant cash advance is allocated explicitly for small or medium-sized businesses. 

  • How long should my business be trading to get a merchant cash advance?

Your business must be trading for 3 months minimum. 

  • What can you use a merchant cash advance for?

A merchant cash advance is usually used to solve the cash flow problems, but you can cover various short-term expenses utilizing a merchant cash advance. 

  • Are merchant cash advances tax deductible?

Merchant cash advances and the money utilized to repay the cash advance provider are not tax-deductible. In most cases, the borrower can deduct the cost of the loan’s interest. 

  • Being a startup business, am I eligible for a merchant cash advance? 

We have multiple other options for startups to be a part of your new venture. Start your business, and when you reach 3 months of trading, we are here to provide you with a merchant cash advance. Contact us at [email protected] for more details.


Check Our All Premium Business Financial Services
Official Website of UK Financial Services

Are you still confused?

which business loan type suits your business’s needs

Don’t worry!

Select your business’s requirement and find out which business loan type is more appropriate for your business.



              We have multiple lenders on our panel who are eager to help SMEs grow their businesses. So, whether you’re looking for a merchant cash advance, working capital loan or unsecured business loan - we deal with all major financial products!