How much capital does your business need?

Business funding in the UK can be a confusing market place and knowing where to go for your ideal funding solution, will take some of the pressure out of the process. It is important to understand the differences in the products available, as that will provide a starting position. Should you wish to go down the route of a bank loan, you could approach the high street banks by popping into a branch or doing an online search.

Alternatively, you could work with a financial advisor or a broker who could aggregate the products on the market and suggest the best funding solution. There are however alternative business funding solutions on the market and a thorough online search or a conversation with a broker will help you identify whether a merchant cash advance or traditional bank loan is most appropriate for your business requirements.

We understand that as business owners and entrepreneurs, your time is important and you need quick answers so that you can focus on your core business.

That’s why we've designed our merchant cash advance funding process to be fast, simple and hassle-free. We don’t require business plans or security for our alternative business funding, and your cash advance will be approved in under 24 hours. The processing of the repayments happens automatically so there is no disruption to your business.

The mechanics of business funding will be dependent on the source of the business funding, as different products will have varying repayment plans. In most cases the provision of business funding is for growth and as such the lender or firm advancing the cash sum will have its own terms of repayment.

In some cases where a business loan is the chosen product, the loan will need to be repaid over a fixed term, with an agreed APR or interest rate. In the case of some alternative business funding a business may receive a ​merchant cash advance​ in which case a percentage of credit and debit sales will be used to repay the advance. In all cases failure most business especially, smaller business will require funding for growth. To find out more on the range of alternative funding products available, read more here. 

The answer to the above will depend on the source of your business funding, or your chosen business funding solution. In some cases, a lender may require security and wish to look at your business plan. Some financial institutions will have a thorough look at your credit file and consider your credit history.

Should you choose to fund your business with a cash advance, very often no security or business plan is required, but credit history is considered. A cash advance will in most circumstances require you to be transacting with a credit or debit card terminal and be generating a minimum amount of revenue through these terminals.

Alternative business funding in the UK does exist for businesses with poor or bad credit history.  Small businesses who have previously had financial difficulty do have recourse to business funding sources but may be required to provide security or a business plan.

There are products on the market which differ from bank loans in that the repayments mirror sales and as such there are no associated APR or late payment fees. These alternative finance solutions known as unsecured cash advances, place far less pressure on cash flow and as such may be easier to procure than a bank loan.

An unsecured cash advance is a form of funding the growth of your business without the risk of having to provide security. An unsecured cash advance usually requires the business to be generating a minimum amount via credit and debit card terminals.

This type of funding mirrors the sales of the business and as such puts no pressure on cash flow, which in most cases means security will not be required. This alternative business funding solution is often preferred by small businesses in the UK, as business owners are personally not liable should the business fail.