What you need to know about business cash advances

A business cash advance is an advance against future credit and debit card sales, providing a flexible, easy and affordable alternative funding option for companies taking card payments, helping them to quickly access business capital.

Unlike traditional bank loans, business cash advances provide access to capital quickly because of their speedy application and approval process. Businesses will be able to benefit from a business cash advance in the following circumstances:

 An unexpected opportunity, such as stock, equipment or inventory that requires a quick purchase and turnaround

 Making an investment that improves and enhances the business, such as a change in location

Requiring funds quickly and having little or no time to visit the bank to complete a lengthy loan application

How to re-pay the advance

A business cash advance works by taking a percentage directly from your company’s daily credit card sales. This means that your repayment amount is always directly proportionate to your sales figures.

All about timing

A business cash advance can prove beneficial in most situations, especially when you’re trying to grow your business. The advantage is they can bring financial relief quickly and effectively, with affordable repayments. Equally, they can be used for important steps forward, for example taking the step to diversify your products or services.

 How to apply

 It’s essential to find a funding partner who will work with you to ensure your project achieves a healthy outcome. The company you work with should play a consultative role and offer easy to understand application and approval processes.

Quick Capital provides business cash advances to businesses taking card payments through their merchant account, providing an alternative to difficult to secure bank loans. To find out more, visit www.quickcapital.co.uk or call 0800 3777 402.