You don’t need to write off 2020 just yet. If you continued trading through lock down or you recently reopened, we could help provide your business with unsecured funding (with no risk to your assets) to support you through this difficult period.
‘Merchant Cash Advance’ is an alternative finance model with much faster funding decisions than the banks. Rather than waiting 60 days for a traditional bank to extend a new loan, the entire application process for cash advance takes up to 72 hours and provides fast access to a cash injection with repayment options that match the earning power of your business.
If your facility is approved, repayment will begin via your card machine or e-comm website. When a customer pays you on card, a flat percentage of that transaction is used to repay the advance. This percentage stays the same regardless of the transaction value, so you will always repay proportionately to your earnings.
You will not be tied in to fixed monthly repayments and your physical cash intake will remain unaffected. Typically, a cash advance takes nine months to repay and there is no compounding interest.
Prepare for business recommencing
- Rescue working capital
- Purchase new stock
- Unlock cash flow
- Redeploy staff
- Buy PPE & control measures
- Cover a one-off cost
If you would like to discuss Merchant Cash Advance and how it can help your business, get in touch with Dan Moremon, Business Development Director, on 07702 551 384 or via email at dan@pmdbusinessfinance.co.uk.