We help UK businesses apply for a Sumup Cash Advance or business loans, based on their card sales revenue.
If your business has a SumUp card reader, you could apply for a Merchant Cash Advance or business loan. A cash advance is a type of finance that allows you to borrow money for your business and repay from future card revenues.
SumUp is a fast growing merchant service provider, with over 3 Million merchants using their services.
If your business uses a SumUp PDQ card reader, then you could apply for a “Cash Advance”.
Disclaimer: We are not affiliated with SumUp, we are an independant finance broker offering cash advances on Sumup revenues.
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SumUp Cash Advance Finance
We work with a number of providers that offer a SumUp Cash Advance, based on your card revenues.
A Merchant Cash Advance is a type of business finance 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 4 months and could still be accepted with poor credit.
Our Minimum Requirements
- 4 Full Months Card Revenue
- Minimum of 4 Months Over £5000 Card Revenue
- Taking Payments Via Card In Store or Online
Borrow up to 200% of average monthly SumUp sales, via one of our trusted lending partners.
Most business sector covered and funds can be used for any legitimate business purpose.
Minimum card turnover of £5000/m is required.
You may be required to give a personal/directors guarantee when taking out a merchant cash advance. This could put your personal assets at risk.
SumUp Cash Advance Example
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.
How do I do a cash advance on SumUp?
We work with a number of specialist UK business finance providers that provide a Cash Advance on SumUp card revenues. You can typically borrow between 100 – 200% of your average monthly card takings.
Repayments are made via a sweep of future card takings, this usually ranges from 10% to 20% and could be effected by how much funding you decide to take.
It usually takes 24-48 hours to get an apporved lending offer for your business. To apply simply fill in the form at the bottom of this page.
SumUp Loans For Businesses
We can also look at a range of revenue based business loans for SumUp merchants. To get SumUp loans based on your past card takings, you will need to meet the criteria below:
- 4 Full Months Card Revenue
- Minimum turnover of £10,000 per Month
Revenue based loans work differently form a merchant cash advance and usually have a fixed repayments amount, rather than a sweep of future card takings.
Apply For A SumUp Merchant Cash Advance
As an independent business finance brokers, we help businesses who have a SumUp card reader to source finance. Even if you have been declined by another lender.
We have already helped many satisfied customers with a cash advance for their business.
Get in touch by filling in the form below.
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