Are you looking to modify the entrance to your building to ensure wheelchair access? Or are you refitting a factory? Or saving money by installing solar panels? All of these projects require capital funding but not every business has access to this sort of finance. Business owners wanting to take advantage of special supplier offers, or to build on the enthusiasm of stakeholders by making an immediate start are often left frustrated by major banking institutions. In many cases the projects get shelved completely because of this lack of cash.
If this sounds familiar, then it may be time to consider MCA funding. Merchant Cash Advance funding is a flexible form of finance business owners of all sizes can access.
The Benefits of MCA Funding
Merchant Cash Advances have many benefits for business owners looking to build their businesses. First, they can enable projects to get off the ground quickly and take advantage of existing supplier discounts. Second, there is no legal charge over a business’s property or other business assets, something which is unheard of when banks are lending money to business. Third, there is no long-term commitment: although repayments are usually tied to business profits and the loan takes longer to pay off during lean times, Merchant Cash Advances are still short-term loans, so you won’t have debt hanging over your head for many years.
Speed Fund is dedicated to lending money to business owners who would otherwise struggle to obtain cash. We are flexible and, depending on your circumstances, you can choose either to pay your advance back on a fixed schedule or to link repayments to your monthly takings.
Notes on eligibility
Speed Fund assess an application on its own merits rather than on a rigid set of criteria. As long as you’ve been in business for a minimum of three months and are turning over at least $6,000 a month you will probably qualify for funding. Fill out our ‘Getting to Know you’ form and our friendly team will be in touch to see how we can help you with your MCA funding needs.