A merchant cash advance (MCA) is good way to manage your business’s seasonal cash flow fluctuations. It is an unsecured, short term product which provides you with an advance on your future card sales. It has proven popular within the retail and leisure sectors, and was designed to help businesses gain access to their cash in a flexible way. Repayments are taken out of a proportion of a businesses’ revenue.
Take a look at our guide to our top merchant cash advance lenders, and the type of facility they offer.
Merchant Money
Merchant Money specialise in flexible funding and their MCA is one of their main products. They offer fast funding, available in 24 hours and top ups are available after 4 months.
Merchant Money offer MCA’s of up to 100% of your average monthly card transactions between the values of £5,000- £500,000. This means that if you earned £6,000 per month through your cash machine, you could qualify for a MCA of up to £6,000
Merchant Money will agree on the repayment rate with you, based on your business card transactions and factor rate starting at 1.15%. Unlike some other lenders, they work with card terminal providers.
Find out more here.
365 Business Finance
365 Business Finance offer a fast and flexible Merchant Cash Advance. A business that processes £10,000 per month in credit and debit card sales, is eligible to receive £10,000 in an unsecured business cash loan, with no interest rates or fixed terms. Repayments are automatic and deducted as a small percentage of your monthly credit and debit card payments.
The lender promises that you can apply in minute and receive the advance in days. You will then receive a lump sum directly into your bank account.
Find our more here.
Nucleus
The ‘Nucleus Merchant Cash Advance’ allows you to up to 125% of your credit and debit card sales to help with any business need. They suggest that you can use the funds for any business need and pay them back, when your customers pay you, this allows you to repay at pace that suits your business’s performance.
The amount advanced is based on your card volumes, you can receive up to 125% of your monthly takings, with finance from £3,000 up to £150,000 or more.
Find out more here.
To find out more about merchant cash advances here, or take a look at some related articles.
