Merchant cash advance in Redditch.
Redditch is a Worcestershire new town, built around the large Kingfisher shopping centre and known historically for its needle and fishing tackle manufacturing. Today the everyday economy runs through the shopping centre units, the surrounding retail parks and the independent takeaways, salons and gyms that serve the town's neighbourhoods. These are card led businesses taking a steady flow of payments through the week. A merchant cash advance fits that by advancing a lump sum and repaying as an agreed share of daily card takings, so busier weeks clear more of the balance and quieter weeks cost less. There are no rigid monthly instalments to find, and the total is set as a fixed cost agreed before you commit. Merchant Business Loans arranges this finance through its panel of providers and does not act as the lender.
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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Up to 90% approval for qualifying businesses