Merchant cash advance in Scarborough.
Scarborough is a classic seaside resort, with the harbour, the South Bay seafront and the amusements pulling in holidaymakers through the warmer months. Its fish and chip shops, cafes, guest houses and hotels do the bulk of their business in a concentrated summer season, taking card payment after card payment from day trippers and staying visitors. Pubs, restaurants and gift shops along the front and up towards the town centre share in that seasonal rush. A merchant cash advance is well matched to this pattern, because it hands over a lump sum up front and then collects repayment as a share of daily card takings. Repayments run higher through the busy summer and ease off over the quiet winter, moving in step with the resort's trade. Merchant Business Loans arranges the finance from a panel of funders, so a Scarborough business can spread the cost of stock, refurbishment or seasonal preparation. The total cost is fixed and agreed before anything is signed.
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.
Scarborough sectors we fund.
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