Cash Advances
Quick, short term, cash to use for any purpose and without involving your bank

Eligibility

• Your sales paid by debit/credit cards must total at least £50,000 over the past 12 months.
• Your business is due to remain at the current address for at least another 12 months.

How it works

Basically you sell a portion of your future card sales for a cash sum that you receive within 10 days or so

• Your cash advance is equivalent to an average one month’s card sales. For example, if your annual card sales are £480k then your advance can be anything up to a maximum of £40k.
• You repay the advance in monthly instalments out of future card sales.
• A fixed % of each future month’s sales is deducted automatically by your card processor until the advance has been recovered.

The benefits to you

• The advance is unsecured  - no charges over assets, no need for year end accounts to be shown, no front end or exit fees.
• Your repayments are not fixed - in a quiet trading month you pay less, in a busy month you pay more.
• You use the money in any way you want and for any purpose. For example, to cover unexpected demands from your bank or tax office, to buy stock at very advantageous prices, pay off creditors or co-directors. Especially suitable for seasonal businesses.