A Business Cash Advance is an unsecured cash boost for your business
There may come a time where your business needs an unsecured business loan. Perhaps you’re expanding, or you need to increase your marketing budget. You’re likely to turn to your bank – but is this your best option?
Recent reports reveal just how high the numbers of rejections from high street banks to Small Business Loan applicants are; declaring that only one in ten small businesses are now able to secure a loan from their bank during their first year of trading, whilst one in six resort to a high interest, payday loan to fund their business.
Benefits of an unsecured business loan?
We know small businesses like unsecured loans, because they don’t require property or other assets as collateral. With an unsecured business loan you’re safe in the knowledge that your home will never be at risk.
But these loans often come with things that are disadvantageous to small businesses such as APR, fees, hidden charges and fixed monthly payments.
Our Business Cash Advance has all the benefits of an unsecured business loan and none of the downsides. It’s a refreshing alternative.
Business finance solutions
Unlike typical repayment business loans, an unsecured business cash advance is paid back through a simple, cost-per-transaction system. In other words, you only pay us back when your business earns.
Other reasons it’s much friendlier for businesses:
- One clear cost, agreed up front
- No fixed repayment schedule
- No late payments – and, of course, no late payment charges or any other extra costs
- Repayment mirrors your cash flow, so it’s ideal for seasonal businesses
To be eligible for a cash advance, we ask only that you have been trading for over 4 months, accept card payments through a terminal, and take an average of more than £2,500 a month via card transactions.
How we can help?
When it comes to applying for a loan, the application process can take some time, which can hinder your plans when you need capital fast. If you’ve don’t have a perfect credit score or the time to wait for a business loan to process, a bank might not be your best option.
Imagine waiting 12 weeks, only to find that a poor credit score has let you down!
Here at Liberis all we need from you is one phone call. Dependent on the information you supply, we can even give you a decision the same day, ranging from £2.5K to £300K. Our cash advance is unsecured, meaning that we won’t ask you to risk your assets as collateral, and we won’t judge your suitability by your credit score.
How it works
A Business Cash Advance is an unsecured advance of cash based on future credit and debit card sales. You could receive a cash boost for £2,500 up to £300,000 which is repaid via a pre-agreed percentage of your businesses card transactions - work out your eligibility with our Business Loans Calculator.
Because payback is directly linked to card takings, it only happens when your business earns. And unlike many other forms of funding, company or personal assets aren’t required. If for some reason your cash advance takes longer to pay off, the originally agreed repayment cost remains the same. No penalties or fees are added, because there’s no such thing as late payment.