iZettle Advance – Merchant Cash Advance UK

Last updated on May 16th, 2022 at 11:50 am

Did you know that if you accept card payments via iZettle, you may be able to access iZettle Advance business finance?

A Merchant Cash Advance is a type of business finance, similar to a business loan. It is used by businesses that have card machine terminals or accept card payments online.

Its a potential finance option for businesses that take card payments via an iZettle card reader.

The way it works is that you can lend up to 150% of your average monthly card takings. You then repay a fixed amount via a percentage of your daily takings until the funding is repaid.

This means that this type of finance is for a short period and is usually repaid in less than 10 months.

Get in touch to arrange a quote by calling 0161 5469128 or completing the form below.

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iZettle Merchant Cash Advance Finance

Whether you run a shop, takeaway, pub or any business with a PDQ machine, you may be able to apply for a iZettle Merchant Cash Advance.

Even if you have been declined for a business loan with other lenders, you may still be able to apply.

  • Access funding in as little as 48 hours
  • iZettle Advance Alternative
  • Borrow up to 150% of average monthly iZettle turnover
  • Fixed Repayment Amount
  • Repay percentage of future card machine takings
  • High acceptance rates
  • Do not need to be a home owner
  • Bad credit considered

The way is works is, the lender makes you a offer based on your average monthly card turnover.

iZettle Advance Example

Finance Amount: £10,000

The charge for the finance is usually a fixed amount, based on a factor rate.

Factor Rate: 1.25

Repayment Amount: £12,500

You then pay a percentage of your future PDQ card takings until the finance is repaid. For example a 10% sweep would be taken at source until the full £12,500 is repaid.

Important: There may be other terms and conditions agreed with the lender when taking out the finance. We are broker not a lender and may receive a commission for introducing you to a lender(s).

Eligibilty Criteria For Merchant iZettle Advance

Different Merchant Cash Advance funders have different criteria when applying for funding. Below we have laid out the minimum criteria required, although this will vary between lenders.

  • Must take credit/debit card payments via iZettle or other Merchant Service Provider
  • £2500 average card sales per month
  • Minimum trading period of 4 months

Acceptance rates are high for eligible businesses. This is because the repayments are taken at the source, rather than a weekly/monthly direct debit. In some instances this may involve redirecting your iZettle settlements to a client account, set up by the lender.

iZettle Advance

Zettle (formerly iZettle) has been recently acquired by Paypal. As such they have now stopped offering their Zettle Advance product.

However we do have a range of third party funding options in the UK, to get a cash advance against iZettle cards takings.

Apply Today For iZettle Cash Advance Finance

At Bolton Business Finance we an independent Merchant Cash Advance broker. We can search the market to find a lender that meets your criteria.

We do not charge any brokers fees for Merchant Cash Advance applications.

So why not get in touch today to speak with one of our Commercial Finance experts.

Fill in the form below and we will be in touch straight away or call 0161 5469128.

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