Read the latest news about alternative business finance.
In less than a year, debit card payments will become the most common type of transaction. Customers now expect to be able to pay using their card wherever they go. Having a card terminal is vital for businesses of all sizes, with some shopkeepers reporting a loss of sales due to not accepting card payments.
We’ve previously spoken about some of the issues that independent businesses are facing. Currently, entrepreneurs are concerned about how Brexit will affect their company financials. This has led to rising costs of stock and produce, which is affecting the hospitality industry. Day-to-day running costs are also on the rise, with inflation at the highest rate it’s been in over three years.
As a result, entrepreneurs across the UK are looking at alternative ways to finance their businesses. If you’re regularly taking card payments, a business cash advance could be the ideal solution!
The amount you can raise through a cash advance is equivalent to your monthly card turnover. Therefore, if you take £10,000 each month, you can receive an advance of up to this amount. Depending on the amount you take on cards each month, you can raise between £500 and £300,000.
Your repayments rise and fall in line with your card turnover each day. This means that you will never struggle to find the money to cover a fixed monthly cost. Unlike a loan there is no fixed time limit to pay back the advance, however a business cash advance is designed to be a short-term funding option so your repayments will be tailored according to your business.
If you find that taking card payments is expensive, or haven’t started taking cards yet, we can put you in touch with a reputable and cost-effective provider. Handepay offer a wide range of terminals at cost effective prices and no hidden fees. In most cases, they can even cover any switching fees you incur by changing providers.
What’s more, they offer a Price Challenge, and if they can’t save you money on card payments you’ll receive £1,000! To take the Handepay Price Challenge, visit their website today!