Frequently Asked Questions

Our business cash advances (also known as merchant cash advances) are a quick and easy way to raise between £5,000 and £200,000 for your business. Unlike a regular bank loan, there are no fixed monthly payments - you simply pay back a small percentage of your credit and debit card sales, meaning you only pay us back when your customers pay you. There are no APRs, admin charges or late fees.

So if you’re having a quiet month, your repayments automatically reduce, which helps you manage your cash flow.

Agree a fixed percentage of your credit and debit card sales to repay the business cash advance (typically between 5% and 15% of your card sales).

Sell to your customers on your credit and debit card terminals.

The pre-agreed percentage is automatically deducted from your daily transactions at point of sale and you will receive the balance of your funds as normal into your regular bank account.

This is automated so there is no change to the time it takes for you to receive your money.

The daily amount deducted then reduces the balance outstanding on the business cash advance.

Collections stop automatically once the cash advance has been repaid in full.

We’ve designed our funding process to be fast, simple and hassle-free. This means you don’t need to supply business plans or security for a business cash advance. Once funded, the processing of repayments happens automatically, so there is no disruption to your business.

Apply in minutes

90% approval rate

Approval within 24 hours

No security or business plans required

Flexible repayments based on your card sales

One all-inclusive cost agreed up-front

Unlike a bank loan, there are no fixed weekly or monthly repayments; you simply pay back a small percentage of your credit and debit card sales. This means that, during a seasonal dip in sales for example, your repayments will go down to match the decreased in sales – so your cash flow remains stable.

Learn more about the differences between business cash advances and bank loans.

The process is fast and simple. You can speak directly with our expert, friendly team by calling 0808 1694 808. Alternatively, you can apply online by filling in our brief quote form, or email us at info@123businessfinance.com.

Our minimum requirements for eligibility are:

Your business has been trading for at least 6 months

Your average credit and/or debit card sales are at least £5,000 per month

For more information, please contact our dedicated customer support team on 0808 1694 808 to discuss your options.

There are no credit checks required for you to receive a provisional quote. Once approved for a business cash advance, a credit check will be carried out to comply with responsible lending regulations. This is known as a ‘soft search’ and will not impact your credit score, nor will it be visible to other lenders.

Unlike a bank loan, there are no interest charges or APR’s on our merchant cash advances. Instead, you pay a single, all-inclusive cost that is agreed at the start of the term. This cost is added to the cash advance and does not increase, regardless of the length of time it takes you to repay.

There are no application fees, admin charges, late fees or hidden extras.

Repayment levels will vary, depending on how your sales fluctuate – so if you have a quieter month than usual, your repayments for that month will be lower. There is no fixed term and no additional charges if the advance takes longer to repay than expected.

No - you do not have to provide security for your business cash advance and you do not have to supply a business plan. Our funding is a flexible alternative to bank loans, as we understand that the banks’ one-size-fits-all approach is not suitable for many small and medium sized businesses.

Yes – you can apply for ongoing capital funding for your business. If you have an existing merchant cash advance with us, please call us on 0808 1694 808 or email info@23businessfinance.com to discuss your options today.

A business cash advance is the ideal solution for many small and medium sized businesses, as the repayments mirror your sales, reducing pressure on your cash flow. No security or business plans are required, and you won’t be tied to lengthy terms with high APRs and fixed monthly repayments that may be the case with a traditional bank loan.

The Business Cash Advance is a fast, flexible and affordable form of alternative business funding.