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Finance for small businesses: Debunking the myths surrounding business cash advances

Ever since the financial crisis in 2008, it’s become increasingly difficult to access much-needed finance for small businesses in order to fund growth and expansion.

Finance for small businesses is changing, and alternative finance has gained in popularity over the past few years. This is expected to continue growing to a projected £12.3 billion by 2020.

In spite of this remarkable growth, finance for small businesses is still seen as difficult to access. Some businesses still treat banks as their first port of call for finance, due to confusion around less familiar alternative finance methods.

We’re here to offer clarity over common misconceptions about business cash advances, an increasingly popular type of finance for small businesses.


A lot of paperwork is involved

Compared to more traditional methods of finance for small businesses, one benefit of a cash advance is that it is quick and simple to apply. There’s no need for business plans and forecasts, all we need to see is your recent card processing statements – meaning the application can take minutes.

Funds take a long time to arrive

With a cash advance from Quick Capital, you can receive the funds you need in as little as three business days.

I’ll be charged if I miss a payment

With a cash advance, you pay back only when you earn. As the repayments are automatically deducted from your daily credit and debit card sales, there’s no need to worry about missed repayments!

My business doesn’t take much on cards; I am not eligible for this type of finance for small businesses

We typically advance up to one month’s card sales, so as long as you take at least £500 per month on cards, you’re able to receive a cash advance.

Paying a cash advance back takes a long time

Business cash advances are described as ‘short term finance’ and are typically paid back within six months. You can even apply to top up your cash advance once you’ve repaid 60 per cent!

I can only receive a large lump of cash from a bank

Depending on how much your business takes on cards, we can advance up £300,000 in one lump sum.

I have to provide a detailed summary of what I need the money for

You can use a business cash advance for any purpose. Our customers have used their cash advance for stock, cash flow, advertising/marketing, purchasing equipment and even refurbishing their business.

I don’t have a card machine, so I can’t get a business cash advance

It is necessary to accept credit and debit card payments through a merchant account in order to qualify for a business cash advance. Don’t worry if you don’t currently take card payments, we can put you in touch with a reputable provider who offer extremely competitive rates.


If you’d like to find out more about alternative finance for small businesses, or want to discover how much funding your business can raise, get in touch with one of our friendly advisors today!



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