Merchant cash advance in Enfield.
Enfield spreads across north London from the shops of Enfield Town and the Palace Gardens centre to the busy retail stretch of Southbury Road and the diverse high streets of Edmonton and Ponders End. The cafes, restaurants and takeaways serving these neighbourhoods take a large share of their money by card, while the barbers, nail bars and beauty rooms across the borough keep a full book through the week. Convenience stores, off-licences and independent shops line the main roads, all of them ringing up card payments day in, day out. A merchant cash advance works well for this trade, advancing a lump sum now and recovering it as an agreed percentage of daily card sales, so repayment flexes with how the tills actually perform. The cost is fixed and agreed before you commit to anything. Owners tend to use the funds for equipment, refits, stock or to keep cash flow steady through a slow spell. Merchant Business Loans arranges the finance and does not lend directly.
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.
Enfield sectors we fund.
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