What is a Business Cash Advance?
A Business Cash Advance is an unsecured alternative finance product providing cashflow to businesses needing short term finance.
It is not a loan product and as such does not have an APR or fixed monthly repayments.
An upfront fee, sometimes known as a factor rate, is applied to the requested sum and then the business pays back this total amount via an agreed percentage of their debit/credit card takings. These payments are usually taken back on a daily basis and, as such, follow the business performance, thus a Business Cash Advance is cashflow friendly.
Given this flexibility of repayment, a Business Cash Advance is very suitable for hospitality, general retail and businesses looking to invest in stock, equipment or refurbishment – or for those simply needing help with cashflow or trying to plug a gap with other mainstream financial offerings