- 08 Nov
Business Cash Advance Against PDQ Machine Receipts
If your company takes card payments you could receive an unsecured loan that is repaid as a percentage of your future receipts through your PDQ machine (Process Data Quickly). This product has just been launched by one of our funding panel and is called Business Cash Advance (BCA).
Cash Advance Against PDQ Card Payments
This type of cash advance against your PDQ card payments could be made available to:
- Retailers and shops (B2C).
- Businesses that sell to other businesses (B2B), taking credit card and/or debit card payments.
You can use the money that you release within your company, for any purpose. This could include:
- Working capital for expansion.
- Improving your premises.
- Purchasing stock.
- Paying unexpected bills.
- Recruiting staff.
- Improving your cash flow.
Maximum Loan Value
You can borrow up to a maximum loan value of 120% of the monthly value of the card payments that you receive. The maximum advance is £150K+.
Flexible Repayment Terms
The cash advance is paid back via a small fixed percentage of your card payment takings. For example, you might agree to pay it back say 10% of your takings.
The beauty of this arrangement is that it accounts for fluctuations in your trading volumes. For example, if you have a bad trading day, you still only repay the same rate of 10% of your takings (in this example). This means that you don't have a fixed loan repayment that you have to meet that doesn't account for trading fluctuations. In this way, this kind of finance is ideal if you have trading fluctuations that might cause you to worry about repaying a traditional bank loan.
You need to be taking at least £4,200 in card payments each calendar month, and this should be over a minimum of 10 separate transactions. You must have been taking card payments for at least 4 months. Full criteria and terms will be provided by the funder.
If you like the idea but you don't quite fit the model described above, still get in touch as there are other providers that offer similar services - and other type of funding that might be more suitable.
For details call Sean on: 03330 113622 or request a call from FundInvoice.