Pubs, Bars and nightclubs that take debit/credit card payments, can potentially apply for Merchant Cash Advance commercial finance.
This can give quick access to funding for a range of purposes such as buying stock, renovations and general cashflow.
Merchant Cash Advances For Pubs, Bars & Nightclubs
Due to the pandemic and energy costs, its becoming increasing difficult to secure business loans for UK wet led pubs, bars and clubs in 2023.
High street banks are not supporting the sector and many other business lenders are avoiding bars, pubs, clubs and other drinking establishments.
However, its still possible to apply for a type of short term borrowing called a Merchant Cash Advance. Typically you can borrow around 100-200% of your average credit/debit card takings from your PDQ machines.
This is then repaid over a 6 to 12 month period as a percentage of your future card takings.
If you wish to apply, give us a call on 0161 5469128, or fill in the form below.
Features of a Cash Advance For UK Pubs & Bars
A Merchant Cash Advance could be used for a variety of business purposes. Such as pub refurbishments, buying in beer, wine or spirits, kitchen equipment, opening new venues and general cash flow purposes.
Funds can be in your account within a few working days.
- High acceptance rates for pubs, bars and night clubs
- Borrow up to 200% Average Monthly Card Turnover
- Fixed Repayment Amount
- Flexible repayments, percentage of future card sales
- No need to be a home owner
- Low credit scores accepted
This type of finance product may also be referred to as a Business Cash Advance.
This is not a long term type of business finance or loan. The capital and fees are typically repaid to the lender withing 6-12 months.
Future repayments are done as a percentage of future sales, normally 10-20%. A higher sweep percentage would usually mean the finance is repaid quicker.
You would need to get a bespoke quotation for your pub or bar to see what the exact cost and repayments would be.
Who Can Apply For A Merchant Cash Advance?
Most businesses that take regular card payments, on site and online, could be eligible. There are no restrictions on wet led licenced establishments. Including:
- Night Clubs
- Entertainment Venues
Apply For A Pub or Bar Merchant Cash Advance Today
As an independent business finance brokers, we can look at your full range of business funding options.
We are very experienced in Merchant Cash Advances for hospitality and
Call us today on 0161 5469128 or fill in the form below.