A merchant cash advance, popularly known as business cash advance, is a type of short-term, very fast and favorable cash source for business. You may, very often, find yourself in trouble while trying to secure a traditional cash loan. On the other hand, when you want a cash injection or capital for your business without a heap of troubles, there are a lot of Merchant Cash Advance Lenders in the UK to aid you efficiently.
Actually, a merchant cash loan is repaid from future credit and debit card sales. It is paid in proportionate to the amount of card sold. Put simply, the repayments depend on your business’ card sales. It functions on a mutually agreed percentage for every card sold.
As a matter of fact, when you are planning to take a merchant cash advance, you must know about the Merchant Cash Advance Lenders in the UK. You are supposed to know about their terms and policy. Most importantly, you are required to find the best Merchant Cash Advance Lenders UK. This article is going to help you do that.
Here are the best Merchant Cash Advance Lenders in the UK:
- Liberis – Merchant Cash Advance: Liberis is a very well-known merchant cash advance service provider. Moreover, Liberis is the UK government that backs up Liberis. Once you have been provided with its cash injection, you cannot go for another attempt.
- It required that you have traded for 4+ months and make at least £2,500/month, or you are not qualified to get the loan.
- Unsecured loan
- Funding from £2,500 – £300,000
- Affordable and repayments are on your daily card takings
- Unspecified repayment time
- Make a funding decision within 24 hours
- Highly rated
- Merchant Money: A merchant cash advance service is one of the services provided by Merchant money. Usually, they provide loans on a mutually agreed repayment rate, which is on your card transactions.
- You are must be using a traditional PDQ machine
- They expect you to have traded for 6+ months with an average monthly card turnover of £5,000+
- Fixed repayment time, which is 3-14 months
- Flexible funding solution
- Funding from £5,000 to £500,000
- Highly rated on Trustpilot
- Variable repayments based on how your business is doing
- Nucleus: Amongst a huge number of business financing solutions, merchant cash advance service is one of the prominent services of Nucleus. And like others, it also deals in card takings.
- Funding from £5,000 to over £150,000
- Simple application process and decision is made within 24 hours.
- No specified date of repayments
- Affordable repayments
- 365 Business Finance: The most important fact about 365 business Finance is- it offers an alternative to bank loans. Besides, it provides suitable loans for small businesses.
- Borrow from £5,000 to £200,000
- No fixed monthly payments
- Requires no security
- Short application process and takes very little time to make decision
- Flexible and affordable repayments
- Suitable for small to medium-sized business
- Approve rate is over 90%
- Boost Capital: The services provided by Boost Capital include a merchant cash advance service too. You can get a merchant advance loan very easily. But it needs you to have traded for at least nine months.
- Funds from £3,000 to £500,000
- Fast and flexible funding solution
- Repayments are on debit/credit card takings
- Variable and affordable payments
- Decision is made within a day
- Highly rated on Trustpilot
- Capify: In a true sense of words, Capify is an ideal avenue for a business that needs merchant cash advance service. It will help you grow your business very efficiently.
- Flexible funding option for small businesses
- Repay on card takings
- Variable repayments
- Available to sole traders, partnerships and limited companies
- A simple and quick method for getting a cash injection
- Highly rated on Trustpilot
- UK based support team
- Quick Capital: Like the other lenders, Quick capital enables you to get a merchant cash advance easily on card taking, and a mutually agreed amount. But the main drawback is-it takes about 72 hours to come to a decision.
- Funding from £500 to £300,000
- Flexible for small businesses as well
- Repayments on card takings
- Decisions made within 72 hours
- Allow top-up loans to be made
- Highly rated on Trustpilot