Unsecured Business Finance
In the present economic climate there are fewer and fewer options available for businesses who are looking to obtain finance.
Whilst banks remain reluctant to lend there is an increasing need for a product that will help provide business owners with immediate additional working capital in the form of a cash advance.
What is it?
Fast, flexible, unsecured finance from £3,500 to £150,000 dependant on circumstances. In most cases finance is available within 7 working days.
Who can apply?
Any business owner who has traded for at least 12 months and turns over a minimum of £3,500 in credit / debit card sales.
Typical businesses would include:
- Restaurants / Bars
- Pubs
- Hotels / B&B
- Automotive – repair / MOT
- Florists / Garden Centres
- Off licences – Mini supermarkets
- Dry Cleaners / Laundromats
- Gift Shops
- Pet care
- Bicycle shops – Motorcycle shops
- Dentists – Pharmacies – Opticians
Why unsecured finance?
This product is ideal if you cannot raise funds through more conventional methods because of a reluctance to lend by the banks. It will also suit someone who needs cash in a hurry. Perfect if you need to settle a VAT bill or raise capital to purchase stock. In fact any business purpose is acceptable.
No collateral needed. No audited accounts required. Fast application process.
What’s the interest rate and how will this work?
There is no interest rate on this product. It’s an advance, not a loan. You get an advance based on your credit / debit card business – and you are charged a one time fee. You repay the advance through a small percentage of your future credit / debit card transactions, until your balance is settled. That’s it.
For example, if you took a cash advance of £10,000 and agreed 15% of your future credit / debit transactions will go towards repayment, every time a customer swipes their credit card for £100, 15% (or £15 in this example) would act as a repayment until your account was settled. The good thing is that if you have a slow month of business, you’re not penalised. Your balance never gets higher. It is completely flexible and carries none of the headaches of a traditional loan where you must meet payments every month irrespective of how the business has performed.
Interested? More questions?
Then please give us a call on 0800 118 2254
