Merchant cash advance in Truro.
Truro is Cornwall's only city and its retail capital, with card trade focused on the boutiques and department stores around Boscawen Street, the cobbled Lemon Street and the shops and cafes surrounding Lemon Quay and the Pannier Market beneath the cathedral spires. It serves shoppers from across much of Cornwall, so independent fashion, jewellers, restaurants, salons and beauty studios here draw a wide catchment on top of tourist trade. A merchant cash advance advances a lump sum and is repaid as a percentage of daily card takings, so quieter weeks cost less while busy Saturdays and summer months clear the balance faster. That suits a city where local shopping combines with seasonal visitor spikes. Owners use the funds for a refit, new stock or equipment while keeping everyday cash intact. The cost is fixed and set out at the start. Merchant Business Loans arranges the finance rather than lending it 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.
Truro sectors we fund.
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