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Merchant Cash Advance
Merchant Cash Advance with Grow Funding
Business Borrowing That Allows You To Pay Back As You Earn!
Business borrowing that allows you to pay back as you earn!
Merchant Cash Advance allows your business to borrow money against your future debit and credit card takings, and pay back using a percentage of your merchant card transactions.
If you are a business struggling to obtain finance merchant cash advance could be the solution for you.
Grow Funding are specialist in businesses finance and funding.
Here is how our Merchant Cash Advance option works.
1. Your business needs to borrow some money, this can be for any reason!
2. You contact us, here at Grow Funding and we ask how much you would like to borrow, and we advise you based on your average monthly card transactions if this amount is achievable
3. We will ask for some documentation to confirm the lending criteria
4. Grow funding will provide you with a fixed interest charge based on the borrowed amount
5. The borrowed amount will be paid back through your merchant transaction account, an agreed percentage of each transaction will be taken to repay the borrowed amount.
6. This means that you only pay back the borrowed amount once YOU have received money
7. There is no time allocated to repay back the borrowed amount as you pay back as you earn. Merchant cash advance is a flexible way or managing payments compared to a business loan with fixed payments and fixed time frames.
To find out more on our merchant cash advance solution contact our friendly team today!
T: 01903 660091
E: expert@growfunding.co.uk
Read our current client case study...
"We were given a referral from one of our introducers for a local pedal and electric bicycle retailer based in West Sussex, who needed to enhance his cash flow. We established that they took around £100,000 per month on card payments and identified that through Merchant Cash Advance we could secure the funds they needed. We were able to arrange a £65,000 loan, with an option for a £15,000-20,000 top up in the next few months, to be re-paid over an open-ended period from a percentage of their card payments. We began the process with this lender on the 2nd January and funds were paid out by the 10th, which the client was really pleased with".
Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.
Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.
Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.
Here is one of our case studies of asset-based invoice finance –
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.
The Advantages:
• Credit insurance to protect you against bad debtors
• The funds are secured and valued against your assets
• Funds can be used for any business needs
• There is the possibility of being flexible in comparison to loans and overdrafts
Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB
01903 660091
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