Last updated on May 16th, 2022 at 11:35 am
If your business is taking card payments via Square, then you may be eligible to apply for a Merchant Cash Advance.
A cash advance is a type of business finance, secured against your future card takings. To borrow money you only need to have been trading for 6 months and take over £2500/m via Square. This can be online or from in store card takings.
As Square is very popular with UK merchants for taking payments, there are a number of cash advance lenders available to apply with.
Call us on 0161 5469128 or fill in the form below to apply.
Square Cash Advance & Business Loans
A Square Merchant Cash Advance is an alternative to a business loan where the lender “purchases” a percent of your future debit & credit card sales. This is for a fixed cost and is repaid as a percentage (between 10% & 20%) of future card sales.
Your business needs 6 months taking card payments.
Business owners may still be accepted with poor credit.
Borrow up to 200% of average monthly Square sales, via one of our trusted lending partners.
All business sectors covered and funds can be used for any legitimate business purposes.
Square Cash Advance Example
Average Monthly Card Sales: £19,000
Amount of Finance: £19,000
Factor Rate: 1.23
Total Repayment: £23,370
Repayment Sweep: 12%
So in this example you borrow £19,000 and then repay 12% of your future card takings until you repay £23,370. Could be subject to minimum payments.
Apply For A Square Merchant Cash Advance
As an independent business finance brokers, we help businesses who have use Square POS source finance cash advances and business loans. Even if you have been declined by another lender.
Call us on 0161 5469128 or fill in the form below to get a no obligation quote.