What is a merchant cash loan?
A merchant cash loan is a business loan from £3,000 to £300,000 for businesses that either need to borrow urgently or have not been able to get loans agreed elsewhere, the amount borrowed is directly related to your level of card sales. Typically, you can borrow the equivalent of between one and two month’s card turnover but this varies depending on the sector your business operates in. We have a 90% approval rate for applications.
Who is suitable for a merchant cash loan?
- Limited companies.
- Trading for a minimum of 4 months.
- Looking to borrow a minimum of £3,000
- Take card payments with minimum sales of £2,500 per month
- Even if you have some credit issues or have been declined for loans, this type of funding may be suitable
How does it work?
You can usually borrow somewhere between one and two months of your businesses card sales.
Repayments are then calculated as a % of your card terminal turnover.
Every time you take a card transaction some of your loan is repaid. Loans are usually for 6 – 9 months but the term can vary.
If your sales reduce, so do your repayments, if your sales increase the loan gets paid off quicker
What can I use the loan for?
The funds can be used for most purposes. The most common ones we see are:
- Purchase stock
- Refurbish premises
- Cash flow
- Funding new staff
What industries are suitable?
Most industries that take card payments can apply for a merchant cash loan. Popular ones that we often fund are:
- Bed & breakfasts
- Coffee shop
Merchant Cash Loan Query Form
Fill out the below form and a broker from Beacon Finance will get back to you to follow up your query.
How do I apply?
Please complete the online application from on this page, this should only take a few minutes to complete in most circumstances. Once you have completed the form a broker from Beacon Finance will be in touch to discuss your requirements in more detail.
What are the timescales to get my loan?
We work as quickly as possible; we have some lenders that can provide a loan in 24 hours but most will complete an advance within one week from application.
Why use Beacon Finance to organise a loan?
With extensive experience in securing SME finance we have the ability to get loans agreed quicker and cheaper than going direct. Some lenders on our panel insist on the application being processed by selected brokers so you cannot go direct.
- We offer transparency
- Exceptional Customer Service
- We do all the legwork and Negotiating
- We have relationships with multiple lenders, so we know what they what.
It is key to select the correct lender to work with and we are able to assist in this decision. We use multiple lenders and select the most suitable based on your application. We have secured millions in funding for our clients.
What do I have to pay Beacon Finance?
Nothing. For merchant cash loans, we receive an introductory commission for the loan meaning we are a free service for your business.