The most flexible finance facility on the market
A Merchant Cash Advance or PDQ Cash Advance is a quick and easy alternative to a bank loan which secures lending using your business’ card terminal. Repayments are taken from the transactions processed through a PDQ machine (card machine). This type of loan is ideal for businesses that operate seasonally as loan repayments are minimal on months with a low turnover and more substantial on months with a high turnover.
A PDQ cash advance is an unsecured advance of cash, based upon future credit and debit card sales. A pre-agreed percentage of your business’s card transactions are taken to repay the loan, until the confirmed total payback has been met. As payback is directly linked to card takings, you’ll only pay back your advance when your business earns.
Tell us how much you’re looking for, and what the business is intending to do with the funds.
Fill in app form and send back relevant info.
We will search the market for the most competitive offers for your business.
Approval within 24 hours.
Currently have an 85% acceptance rate
The money can be in your account within a matter of days.
Generally speaking, most limited and non-limited companies, including partnerships, are eligible. The main requirement is that they have been taking card payments for at least 4 months through a PDQ terminal.
To qualify for a cash advance, you do not have to be a homeowner and will not have to secure anything against a property. There are no specific sectors that are exempt from this type of loan. Providing you take regular card payments and fulfil the monthly threshold of £2,500, you should qualify.
If you have a CCJ and your personal file has historic bad credit, there are no guarantees that you will qualify for a PDQ Cash Advance. However, due to the flexibility of this loan, CCJs and adverse credit can be considered, and many past cases have been approved with bad credit in place. There is an 85% acceptance rate on this product.
We work with all merchant acquirers. However, some are easier to deal with than others. The lenders we have access to work directly with are FDMS, Elavon, Worldpay and Lloyds Cardnet. If you have an acquirer that is not one of these we can still work with you, but it may be a good idea to think about changing for the future.
As mentioned, Merchant Cash Advances are loans which are repaid through a business’s transactions via a PDQ machine.
A PDQ Cash Advance doesn’t have to be used for emergency situations. Due to the loan being unrestricted, you can use the funding to go towards any business expense. Most customers use this for growth; refurbishments, equipment purchase, increasing staff, marketing, etc.
The splits will be taken automatically by setting up an escrow account that will sit alongside your merchant account. Every transaction that is made through the PDQ terminals will be re-directed into the escrow account where the split will be deducted, the rest of the sales will be directed into your merchant account and then onto your bank provider. In most cases there will be a delay time of around 2-3 days.
There is no fixed term on this product, as the loan is directly related to how many sales through the card terminals are made each month. However, all loans are paid back within 12 months. Loans can be arranged same-day if everything is sent back quickly. However, on average, this takes around 5 working days dependent on your acquirer.
In this type of loan, you don’t have to worry about knowing which date your payment will be taken or whether you have enough in the bank. This is because the repayment is ‘taken at source’, meaning it won’t go into your account in the first place. The lender works with the card terminal provider directly, meaning there’s no middle man (that’s usually you), and the payments are taken automatically until the entire debt is paid.
It’s simple, really; the more you earn, the more you pay back. If you have a super busy Christmas period, you might end up paying a lot of the loan back during this time. In contrast, a quiet period would see you paying less. This means you don’t have to worry as much about whether you’ve got enough to cover the repayments should you come into a quiet spell or experience difficulties out of your control. The repayments are proportional and are made as a percentage of your business revenue each month.
While it may be difficult to secure more than one regular business loan, having a Merchant Cash Advance doesn’t hinder your ability to have another type of finance at the same time. You can use your PDQ Cash Advance for general cashflow while having a different type of business loan for other vital business needs.
This type of loan might seem like a win-win situation on paper, but it’s not the most suitable finance option for everyone. If your business deals mostly with cash, invoices or bank transfers, it’s likely that you wouldn’t benefit as much from a PDQ Cash Advance. This is because the repayments are made through card transactions, so it’s most beneficial if this is your business’s most used form of payment.
There is also a limit to the amount you can borrow based on your monthly turnover. You’ll usually be able to borrow the equivalent of your average monthly revenue, but it would be difficult to obtain this kind of loan for a larger sum. This is because it must be paid back via card payments, so if your company isn’t making enough money, you wouldn’t be able to pay it back.
If you need any more details on the PDQ or Merchant Cash Advance agreements we offer, call us on 01371 870815 or email us at email@example.com.
T: 01371 870 815 E: firstname.lastname@example.org Address: 104 Bellefield House, New London Road, Chelmsford, CM2 0RG
Registered in England: Trading under Timali Ltd
Registered Company No: 08401705