Merchant Cash Advance – cash against card terminal transactions
Merchant Cash advance is different from a business loan. The loan is made on future card terminal transactions. The repayments are agreed in advance, so there is no hidden charge or further expenses. This product has the benefit of flexible repayment and repayments will work according to the seasonality of the business.
The biggest advantage is there are no fixed monthly repayments. If the turnover of the business is high in Christmas, you will pay more payments and loan will finish quickly. Similarly of the turnover is low in any month, you will pay less monthly repayment giving you total flexibility to manage cash flow for the business.
Advantages of Merchant Cash Advance
- No fixed monthly repayment
- Repayment percentage agreed in advance
- No hidden charges
- Help business seasonality’s
- No late fees
- Adverse credit acceptable
- No business plan requirement