UK Businesses that take payments using Paymentsense card readers or online payments, could apply for Merchant Cash Advance finance. A cash advance is a type of business finance that allows you to borrow money for your business.
Paymentsense is a large provider of both PDQ card reader terminals and also online payments for UK businesses.
If your business takes credit/debit card payments via Paymentsense, then you could apply for a “Cash Advance”.
Paymentsense Cash Advance Finance
We work with a number of independent providers that offer a Paymentsense Cash Advance.
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 6 months and could still be accepted with poor credit.
Borrow up to 200% of average monthly Paymentsense sales, via one of our trusted lending partners.
Most business sector covered and funds can be used for any legitimate business purpose.
Average Monthly Card Sales: £15,000
Amount of Finance: £15,000
Factor Rate: 1.26
Total Repayment: £18,900
Repayment Sweep: 10%
So in this example you borrow £15,000 and then repay 10% of your future card takings until you repay £18,900. Could be subject to minimum payments.
Apply For a Paymentsense Merchant Cash Advance
As an independent business finance brokers, we help businesses who accept payments via Paymentsense to source finance. Even if you have been declined by another lender.
Call us on 0161 5469128 or fill in the form below to apply.