Merchant cash advance in Coleraine.
Coleraine is the main market and university town of the Causeway Coast, with trade focused on the Diamond, Church Street and the riverside Coleraine shopping centre, plus the retail parks that draw shoppers from across the north coast. Its cafes, salons, pubs and independent shops benefit from Ulster University's campus and from the summer surge of visitors heading to Portrush, Portstewart and the Giant's Causeway. These card-taking businesses fit a merchant cash advance well, since it advances a lump sum repaid as a percentage of daily card takings. Strong tourist and term time weeks repay faster, while off season lulls ease the pressure. That helps a Coleraine restaurant, barber or clothing shop fund a refurbishment or seasonal stock without a fixed monthly commitment. Merchant Business Loans arranges this commercial finance across a panel of funders rather than lending itself. Every advance carries a fixed cost agreed before you accept.
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.
Coleraine sectors we fund.
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Up to 90% approval for qualifying businesses