Merchant cash advance in Stevenage.
Stevenage pairs a long-standing pedestrian Town Centre with the popular Roaring Meg retail and leisure park, giving local traders two very different pools of footfall to draw on. The cafes, takeaways and convenience stores serving the town centre and the surrounding residential neighbourhoods keep card machines ticking over daily, while the barbers, nail bars and beauty rooms run a steady book of appointments. As a town shaped by post-war growth and a strong engineering and commuter base, Stevenage has plenty of hard-working service businesses that take most of their money by card. A merchant cash advance fits them well, advancing a lump sum now and then collecting repayment as a set share of each day's card takings, so the amount paid rises and falls with real trade. The cost is agreed and fixed before anything is drawn. Owners tend to use it for equipment, refits, stock or to steady cash flow when takings dip. Merchant Business Loans arranges the finance 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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