Merchant cash advance in Nuneaton.
Nuneaton is a Warwickshire market town, with the Ropewalk shopping centre, the pedestrianised Abbey Street and a regular street market shaping its town centre trade. Together with neighbouring Bedworth it supports a solid base of independent shops, takeaways, convenience stores, pubs and barbers that run on card payments. A merchant cash advance suits this kind of local trading because it advances a lump sum and then collects repayment as an agreed portion of daily card takings. When the market days and weekends are busy you repay a little more, and on quiet midweek days you repay less. The whole thing sits under a fixed cost agreed before you sign, so you know the total in advance. Merchant Business Loans arranges this unregulated commercial finance through a funding panel rather than lending the money itself.
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.
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