If you are a UK businesses that takes payments using GoCardless, then you could apply for Merchant Cash Advance finance or a Merchant loan. A cash advance is a type of business finance that allows you to borrow money for your business.
GoCardless is a popular payment processing solution for both one off and recurring card payments.
If your business takes credit/debit card payments via GoCardless online or in store, then you could apply for a “Cash Advance”.
Disclaimer: We are not affiliated with GoCardless
GoCardless Cash Advance Funding
We work with a number of independent providers that offer a Merchant Cash Advance on GoCardless card payment revenue.
A Merchant Cash Advance is a type of business finance, similar to a business loan, where the lender purchases” a percentage of your future card takings. This is usually for a fixed cost and is repaid as a percentage (10-20%) of future card takings from your merchant sales.
You can apply once you have been trading for 3 months and could still be accepted with poor credit.
Borrow up to 200% of average monthly GoCardless revenue, via one of our trusted lending partners.
Most business sectors covered and funds can be used for any legitimate business purpose.
Minimum card turnover of £3000/m is required.
Average Monthly Card Sales: £22,900
Amount of Finance: £35,000
Factor Rate: 1.19
Total Repayment: £41,650
Repayment Sweep: 12%
So in this example you borrow £35,000 and then repay 12% of your future card takings until you repay £41,650. Could be subject to minimum payments.
GoCardless Business Loans
If you are a GoCardlesss merchant, there may also be business loan options from our panel of lenders.
Apply For a GoCardless Cash Advance or Business Loan
As an independent business finance brokers, we help businesses who accept payments via GoCardless to source finance. Even if you have been declined by another lender.
Fill in the form below to start your application.