Merchant Cash Advance – Get approved & funded with in 24 to 48 hours **
A Merchant Cash Advance is an unsecured business loan substitute. It’s an instant & short- term cash booster between £5,000 and £200,000, which works by you to funding your cash flow and business needs. Contrasting old-style finance products, there is no APR* or hidden costs! Merchant only agree on a simple, comfortable cost that is paid back, typically over 7 to 12 months as a fixed percentage of your future credit card and debit card sales – simple!
With flexible repayments and no fixed term, a merchant cash advance can offer many benefits over traditional bank loans and other forms of business finance.
There’s no need to change your existing card terminal (PDQ) machine, everything stays the same**.
You automatically repay when you sell to your customers – There’s no fixed payment terms.
The advance is unsecured.
You agree a simple, comfortable cost that you pay back as a fixed percentage of your future credit and debit card sales.
Your monthly average of credit/debit card terminal turnover.Though in some cases amount may warry as it is on the discretion of lenders underwriter.
7% to 20% of your daily credit/debit card terminal turnover. **
Credit/debit card terminal & Bank Statement.
6 months to 12 months card terminal (PDQ) machine statement.
6 months of business bank statement.
ID Copy of Director
Photo of original UK driver’s License or passport copy.
Proof of Address
Copy of your utility bill (not older than three months) or your Lease copy or Business Rates.
Any other Documents
In some cases, Lenders may ask for some other documents.
What happens Next.
We will submit the documents to lender and get the Loan Offer for you.
And once you accept it you shall get the contract/agreement from Lender to sign. And will receive Funds within 24 to 48 hours in your business bank account.
Pay2day acts as a commercial finance broker and will get paid brokerage fees from lender.
** Subject to submission of all required documents and outcome is on lenders desecration.
