|Merchant Cash Advance – How it Works|
|Funding between £3,500 to £100,000|
|Up to 100% finance of average monthly card sales|
|Flexible repayment linked with your card sales|
|No card sales, no repayment|
|No interest rate charged to finance, no late payment fee|
|Pre agreed percentage of your card sales taken as repayment|
|Daily amount deducted reduces the balance outstanding on loan|
|No security or business plan required|
|Merchant Cash Advance – How to Qualify|
|Trading for at least 12 months|
|Minimum average monthly card sales of £3,500|
|Minimum 12 months lease term remaining on your business|
|You will need to install Lloyds Bank Cradnet terminal|
Merchant cash advance is a tailored funding solution to raise between £3,500 and £100,000 of unsecured funding for any business that takes payments via debit or credit cards. As long as you are trading for at least 12 months and your minimum average monthly card sales is £3,500, we will fund up to 100% of your average monthly card sales.
Repayment is completely flexible and is linked with your card sales. There is no interest rate linked with this funding instead agreed fee is charged. Loan repayment is deducted at an agreed rate on card sales through your card terminal. You don’t pay back if you don’t do any card sales.
Loan is normally approved within 48 hours and funding is paid directly into your business account within days.
We do not require business plans or security. This is suitable for any business that accepts card payments from customers.
We have been running our business for 4 years. We were looking for flexible cash flow funding options. Berks Finance offered us 100% Finance based on our merchant sales. There was no interest rate linked with the loan and we only had to pay back when we could afford it. This was an amazing solution and exactly what we were looking for. We had never known any lender offering this type of business loan.
ML Supermarket – Birmingham
I am a self-employed doctor. I had only 10% deposit and had been practicing for only a year. I had no financial accounts or tax returns to prove my income to lenders. Mortgage team at Berks Finance found a lender who had special mortgage scheme for professionals with no tax returns. Mortgage was approved within 72 hours and I was delighted to purchase my first house that I so fell in love with.
Dr S R – Slough
We contacted Berks Finance to assist us with the purchase of a retail business that required funding for purchasing of goodwill of the business. This was unsecured funding and considered high risk by all major banks. Even our own bank had declined our proposal for funding assistance. Credit team at Berks Finance did the risk assessment on our business and structured the deal in a way that bank agreed to lend the full amount that we needed to secure the purchase.
St. Marys Enterprises – Stoke City
I was referred to Berks Finance by a mutual friend. My case was complicated as I needed to take my sister’s name out of mortgage and add my wife’s name. It was not easy as I could not qualify for a mortgage on my income alone and due to the nature of my wife’s work no lender was willing to consider her income as regular and stable. Berks Finance found a specialist lender who not only approved my wife’s income for the mortgage, they also agreed to waive the valuation fee. We found Berks Finance very professional with access to niche lenders for cases like ours.
Imran Khan – Slough
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