That we have been able to support so many small and medium sized businesses shows how valued and useful a product the Business Cash Advance is.
London, UK (PRWEB UK) 3 June 2013
On the back of recent high profile lenders, such as the Co-operative bank, pulling out of new business lending, there is an increased need for support, particularly for SMEs.
Paul Mildenstein, Managing Director, said: “We’re delighted to have reached this landmark figure. That we have been able to support so many small and medium sized businesses shows how valued and useful a product the Business Cash Advance is.
“In the current climate it is proving exceptionally difficult for SMEs to get the money they need to develop their businesses from traditional sources.
“We were the first business in the UK to offer businesses a ‘cash advance’ which provides a refreshingly simple way for companies to repay the money as they earn. So they only repay once they have the takings to do so. No other borrowing instrument or loan product is this flexible.
“We understand that time is precious and so is cash flow. There are no complicated forms and we approve over 90% of applications. With the repayment as an agreed percentage of card takings, it’s friendly on the cash flow, because if the business doesn’t get paid, we don’t either.
"In this way it’s a true partnership and explains why over 70% of our customers will stay with us after their first advance.”
There’s no security taken as the money is granted against future debit and credit card sales. With an upfront fee agreed, there are also no hidden charges or penalties.
One customer who has benefited from a Business Cash Advance is owner of The Glassblowing House, Ed Stevens. Creating the perfect atmosphere for drinking and dining has been key to his success.
He said: “The Business Cash Advance has been ideal for us because they specialise in providing cash advances for smaller and independent businesses. It’s quick, easy and works far faster than a bank.”
A Business Cash Advance is repaid through card receipts. So the busier you are, the faster you repay, and the quicker you can move on to the next project.
To find out more about Merchant Cash Express or to see whether a Business Cash Advance could help your business visit http://www.businesscashadvance.co.uk