Merchant cash advance in Gillingham.
Gillingham is the largest of the Medway towns, a former dockyard community with the naval heritage of nearby Chatham and a densely populated, hard working local economy. Its high street and neighbourhood parades are full of takeaways, convenience stores, salons and independent shops that take regular card payment from a busy resident base. A merchant cash advance gives a business a lump sum and is repaid as an agreed portion of daily card takings, so the amount collected follows real trade rather than a set monthly bill. That suits Gillingham's takeaways, corner shops and salons, where sales are steady but rarely the same from one day to the next. A garage or restaurant can use an advance to fund equipment, stock or a refit and repay it in step with takings. Merchant Business Loans arranges this finance rather than acting as the lender, pairing each business with a funder from its panel. The total cost is fixed and clear before anything is agreed.
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.
Gillingham sectors we fund.
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