Read the latest news about alternative business finance.
Research has revealed around a third (36%) of UK businesses have put their growth plans on hold because they have been turned down for funding by their bank.
Many business owners need to be aware of the options available when looking for finance for future growth plans as many still think big banks are their only secure place for finance. The study finds around half of “high-growth” small businesses – those that have seen annual revenues grow by more than 20 per cent over the last three years – have found it more difficult to grow because they have been unable to secure finance from a big bank.
A merchant cash advance for businesses could be the perfect solution for small business growth as it has several key features tailored to your needs. Unlike a bank it has a quick and simple application process which is a lot less stressful because there is less paperwork involved.
As there is less paperwork involved it means you can access your cash within days of application. A merchant cash advance from Quick Capital allows you to access your funds within three working days of your application approval.
Another key feature of a merchant cash advance is that the repayments are flexible, the repayments are made by deducting a pre-arranged percentage of your credit and debit takings. As you only pay back as you earn you don’t need to worry about missed repayments. There is even an option to top up your merchant cash advance when you have almost repaid.
The main aim of a merchant cash advance for businesses is to help business growth. There are no restrictions as to how you use it, however, most small businesses use their merchant cash advance to refurbish their business, purchase additional stock or boost their cash flow.
If you would like to find out how a merchant cash advance can help your business grow, get in contact with one of our advisors on 0800 3777 402.