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If you are interested in taking a Merchant Cash Advance then you’ll be pleased to know the process for getting one is relatively simple. You don’t require much documentation.
As long as you have been trading and taking card payments for at least 6 months you will likely be eligible.
Not necessarily. 90% of Merchant Cash Advance applicants are accepted and this includes ex-bankrupts, companies in a CVA, those with CCJs/Defaults and other adverse credit. Because the repayment is taken off your ‘top line’ (i.e. a percentage of every transaction take from your card machine) the finance provider doesn’t need to rely on people making weekly or monthly direct debits so for this reason they can be much more flexible in who they lend to.
No. Sole traders, partnerships and limited companies are all eligible.
No. A Merchant Cash Advance works seamlessly with all UK registered card processors.
No and No. This is an unsecured source of finance though you will be asked to give a Personal Guarantee as is standard in almost all types of finance.
This depends on your card provider. It can be as little as 3-4 days but usually takes 2 weeks.
No. There are no extra legal, administrative, broker, set-up or any fees.
MerchantCashAdvance.co.uk is a trading style of Choice Money Ltd, Beech House, Knaves Beech Business Centre, Davies Way, Loudwater, Buckinghamshire, HP10 9SD. Company number 07313805; Authorised by the Financial Conduct Authority (FRN 667915); Data Protection license Z2337466