Merchant cash advance in Romford.
Romford is one of east London's most energetic trading towns, famous for its historic market and a nightlife scene that keeps South Street and the surrounding bars and clubs busy well past midnight. The Liberty and The Brewery shopping centres pull daytime crowds, while the pubs, late bars, restaurants and takeaways around the market place and station take a heavy volume of card payments across the evening. Barbers, nail bars and beauty salons run a full book through the week, and the convenience stores and off-licences serving the wider borough rarely see a quiet till. A merchant cash advance works well for this kind of card-led trade, advancing a lump sum up front and recovering it as an agreed share of daily card takings, so repayment moves with weekend peaks and midweek lulls. The cost is fixed and set before you draw anything. Funds usually go towards refits, equipment, stock or steadying cash flow. Merchant Business Loans arranges this commercial finance and does not lend 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.
Romford sectors we fund.
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