Merchant cash advance in Great Yarmouth.
Great Yarmouth is a well known Norfolk seaside resort, its Golden Mile along Marine Parade packed with amusements, cafes, takeaways and the Pleasure Beach through the summer months. Regent Road and the seafront carry the card taking trade that defines the town, with fish and chip shops, pubs and guest houses filling up when the visitors arrive and quietening once the season ends. A merchant cash advance provides a lump sum up front and is repaid as a share of daily card takings, which suits a resort where summer is intense and winter is slow. More is repaid during the busy weeks and less in the off season, so the funding moves with the trade rather than fixing one monthly figure. Cafes, takeaways and small hotels use it to get ready for the season or to carry out repairs. Merchant Business Loans arranges the finance through a panel of funders rather than acting as the lender. It fits the seasonal, card led businesses along the front.
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.
Great Yarmouth sectors we fund.
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Up to 90% approval for qualifying businesses