Whether you're thinking about applying for a business cash advance, or you've already received your funding, you can use our FAQ page to find the answers to your queries. Alternatively, our advisors will be happy to answer any questions you may have. Please call 0800 3777 402 or email firstname.lastname@example.org
A business cash advance is an agreed sum of money advanced to you and secured against your future debit and credit card turnover. Unlike a small business loan, there’s no APR or fixed monthly repayments. Instead, we agree one simple cost upfront and repayments are deducted automatically as a percentage of your daily credit and debit card takings, which means you pay us back as you earn. Unlike a loan there is no fixed time limit to pay back the advance. Our business cash advance is however designed to be a short-term funding product and so the advance and your repayments will be tailored according to your business and assumptions we agree at the outset.
If your business has been trading for at least 6 months and you turnover at least £500 per month on cards, you could be eligible for our business cash advance. If you have not been accepting cards for 6 months but your business has been established for longer we may still be able to help you.
We offer advances from as little as £500 and up to £300,000. The funding we provide is typically up to 100% of your monthly card turnover, so if you take £10,000 per month on cards, this would be the level of advance you could be eligible for in total. By looking at your recent card processing statements, we’ll be able to inform you of exactly how much you can raise.
Our simple application is completed over the phone and only takes a few minutes. All you need to provide is your recent card processing statements, and either a UK Passport, UK driving licence or utility bill. In most cases, we will make a decision the same day.
Our business cash advance is designed to help you both sustain and grow your business. We do not therefore place restrictions on how you use the advance within your business because you will know best how to do this. Most of our customers use their advance to purchase additional stock, cover seasonal periods, refurbish premises, boost cash flow and upgrade equipment. Read our customer case studies to find out more.
We will ask for your permission to undertake a search using a Credit Reference Agency which will be shown on your credit file, however, the outcome of the search and our company name will not be reported.
Yes you can. We look at every individual application on a case-by-case basis, however we will expect you to inform us beforehand of any adverse credit you are aware of.
There are no application fees or hidden costs with a business cash advance from Quick Capital. The amount you’ll repay is agreed upfront along with an agreed daily percentage which will be deducted from your credit and debit card takings.
It’s not completely necessary to switch your card machine provider. However, we’ve partnered with Handepay to offer customers the best possible pricing package. Handepay can save businesses 36%, on average on their card processing fees and they offer a £1,000 Price Challenge to customers who switch to them. In most cases however, Quick Capital can work around your current card machine solution to provide you with a business cash advance.
Once we have approved your application we can provide funding in as little as 3 business days.
Your repayments are deducted automatically by us from your credit and debit card takings before they are remitted to you each day. This process does not delay your settlement. We deduct a pre-agreed percentage of your total card turnover each day which means your repayments will rise and fall in line with your sales. Our business cash advance product is therefore totally flexible and designed for real business needs.
You’ll receive an email statement from us at the close of business each business day to show how much you’ve repaid and how much you have left to repay, so you’re always kept up to date. Quick Capital is unique in providing this level of daily detail to its customers.
If you need to repay your cash advance early, please contact us. Unlike small business loan providers, we won’t charge you a fee for early repayment of your cash advance.
You can usually apply for a top-up advance once you’ve repaid 60% of your existing advance. Over 70% of our customers decide to renew their business cash advance facility, helping them to continually invest and grow.