Merchant cash advance in Aberdeen.
Aberdeen is the Granite City, a north east hub where energy money, tourism and a busy student population all pass through the tills. Union Street and the Union Square and Bon Accord shopping centres draw steady retail footfall, while Belmont Street and the West End keep bars, restaurants and coffee shops trading late. Hotels around the harbour and Dyce cater to visiting workers and offshore crews, and the salons, barbers and independent shops of Rosemount and Bridge of Don live on regular card custom. A merchant cash advance gives one of these businesses a lump sum up front, then takes its repayment as an agreed share of daily card takings. That means quiet weeks cost less and busy ones clear the balance faster, which suits the swings that come with an energy led economy. For an Aberdeen operator planning a refurbishment, new equipment or a stock push, it is funding that moves in step with the card machine. Merchant Business Loans arranges this commercial finance rather than lending itself.
How a merchant cash advance works.
A merchant cash advance (MCA), also called a PDQ cash advance or card machine loan, gives your business an upfront lump sum repaid as a small percentage of your daily card takings. There is no fixed monthly repayment and no interest rate, just one fixed cost agreed upfront. MCA is unregulated commercial finance, business-to-business, and is unsecured against business assets. Most lenders ask for a personal guarantee from a director.
- Advance£10,000 to £1,000,000
- Fixed cost1.10 to 1.50
- Term3 to 18 months
- Daily repayment10% to 22% of card takings
- DecisionTypically 24 to 48 hours
Eligibility.
- Sole traders and UK limited companies.
- At least 6 months trading history.
- Active card machine (PDQ terminal) or online card processor.
- Typically 6 to 12 months of card transaction data shared with lenders.
Eligibility differs by lender. We compare a panel of UK MCA funders on your behalf to find the right fit.
Aberdeen sectors we fund.
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