Small Business Finance
Flexible financing to grow your business. In partnership with YouLend. Simple.
Grow your business with flexible funding
Cashflow is the lifeblood of all businesses. Many of our small business owners have been flexing their finances with a new cash advance scheme offered through our alternative finance provider - YouLend.
Access funding up to £1,000,0001 to grow your business and pay back when you make money2. Simple.
What is a cash advance?
An advance payment made to your business as a lump sum.
This is then repaid as an agreed percentage of your future card transactions. This percentage can vary from 5% to 30% of your daily takings.
Unlike a traditional bank loan; you don’t need any collateral to secure a Loan Advance. Qualification is based on your average earnings from card payments. This information is taken from your latest merchant statements.
You could access funding to grow your business and pay back when you make money. Allowing you to be 'financially flexible' in your decision-making. Managing your small business’s stability and growth.
Do I qualify?
There are some basic criteria before we can put forward a customer for cash advance funding:
- Have been in business for at least 12 months.
- Currently accept card payments from your customers via a card machine or secure e-commerce gateway.
A minimum monthly card turnover threshold of £3,000 per month, based on at least of 3 months’ worth of trading.3
What funding is available?
If you know your monthly card turnover, this will give you an estimate to the size of advance you could receive. (this can be found on your recent merchant statement).
Typically, you can get an advance at 100-110% of your monthly card turnover. E.g. a monthly card turnover of £15,000 will equal around a £15,000-£16,500 advance.
This isn't like a traditional bank loan
Traditional
Traditional Bank Loan
Up to 75 days to extend new loan- Fixed monthly repayments
- Administrative fees for an application, as well as early repayment fees
- Assets at risk if you default
YouLend
Merchant Cash Advance
- Decision in as little as 60 minutes
- Funding in 1-4 days
- Your assets will remain safe
- Funding is unsecured
- Pay back as you earn
- No hidden fees, all costs agreed upfront
Did you know over 83% of customers renew their advance? On average customers renew 3 times to continue to fund the growth of their business.4
How does it work ?
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