Merchant cash advance in Colchester.
Colchester, one of Britain's oldest recorded towns and now a city, blends a historic High Street with the shops of Culver Square and Lion Walk and the independent quarter around the Dutch Quarter. As a long standing garrison town it supports a lively evening economy of pubs, restaurants and bars, along with the salons and independent retailers that keep the daytime tills busy. A merchant cash advance advances a lump sum and is then repaid as an agreed share of daily card takings, so what comes back each day reflects how trade is really moving. For a Colchester pub or restaurant with strong weekend and payday peaks, that keeps repayments in proportion to takings. Hairdressers, barbers and independent shops use the same funding to refit premises or bring in new stock. Merchant Business Loans arranges the finance through a panel of funders rather than lending directly. It is well matched to the card taking hospitality and retail trades across the town.
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.
Colchester sectors we fund.
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