Business Lines of Credit
Flexible finance designed as an alternative to traditional bank loans.
What is a Business Line of Credit?
An ever-present credit facility and source of funds, that reduces the requirement on a business owner to continually reapply for credit is often referred to a line of credit or business line of credit. One of the greatest challenges facing todays small businesses is cash flow and the seasonal fluctuations that may impact on a positive cash balance and access to working capital, a business line of credit enables a small business to continue to operate with a degree of confidence even during the quieter periods.
A business line of credit is a financial product predominately designed to meet the short-term cash needs of a business, to prevent them from having to struggle during periods when business is slower, however this type of credit facility is often employed by small business owners as a means of growing and developing a business without having to put undue pressure on cash reserves or cash flow.
Do I Qualify?
Qualification for our business cash advances is simple: Contact our customer services team to see if you are eligible.
In business for at least
12 months
Monthly credit and debit card turnover of at least
£10,000
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Explore our guidesThe flexible alternative to loans
Differences between a Business line of credit and a business cash advance.
- Unlike a Business line of credit where the interest on the borrowing is aligned to the current market rate. A business cash advance has no APR and a fixed fee is charged to the borrower receiving the cash advance.
- Repayments on a line of credit are based on how much credit has been accessed or drawn down in previous months whereas repayments on a business cash advance mirror the credit and debit card transactions of the business.
- A business line of credit is flexible in its approach to how much is drawn down at any given time, even though a total amount is made available to the business based on its financial position. Usually with a business cash advance a business will have access to between £5000 and £200000, depending on its monthly credit and debit card sales.
Lines of Credit for Business Growth
Does your business need a traditional loan alternative?
A business cash advance offers the following benefits to businesses searching for working capital loans due to the fact they have bad credit.
Agree one, upfront all-inclusive cost that never changes.
- Funding in days
- One simple all-inclusive cost
- No fixed term or fixed monthly payments
- No admin fees
- No APRs
- A dedicated relationship manager
- A simple requirement that the business has been trading for 6 months
- A requirement that the business transacts £5000 through its credit and debit card terminal.
A merchant cash advance program for your business
As a business acquiring a line of credit requires some research, and the business owner will need to do some homework to ensure that the product is the right type of credit at the right time for his or her business. A business looking for a line of credit should have a thorough understanding of its current credit position. A business line of credit is better suited to and more likely to approved if a business has a positive credit history, being able to demonstrate this fact will help expedite the application process. A business with poor credit or a less than perfect history would be better served looking for lenders who specialise in this type of poor credit finance.
How a Merchant Cash Advance Works
A merchant cash advance is an ideal type of no credit check loan. Instead of relying on your credit score, we assess your business’ recent debit and credit card transactions to determine affordability and produce a funding offer tailored for your business. Get in touch with our team today to receive a tailored quote. The loan application process is quick and easy, and we can give you a funding decision within 24 hours. There is no need for you to provide collateral or business plans, and we only conduct a soft credit check that does not affect your credit score. From this, we’re able to make a funding decision without running a hard check that will show on your credit report. Unlike a traditional bank loan, there are no interest rates or fixed monthly payments to worry about. Instead, repayments are taken from a small percentage of your future debit and credit card payments. We don’t require any APR as there is no fixed fee, just one all-inclusive cost that’s agreed on at the start, which never changes.
Repayments mirror the ups and downs of your business
A business processing £10,000/month in card sales can receive an unsecured cash loan of the same amount, with no interest rates or fixed terms. Repayments are automatic and based on a small percentage of monthly card sales.
How Rev&U™ repayments work
1
Agree fixed percentage
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)
2
Make card sales
Sell to your customers on your credit and debit card terminals.
3
Automatic repayments
The pre-agreed percentage is automatically deducted from your daily transactions at point of sale and you will.
4
Get money into your account
This is automated so there is no change to the time it takes for you to receive your money.
5
Daily sales reduce balance outstanding
The daily amount deducted then reduces the balance outstanding on the business cash advance.
6
Collections stop automatically
Collections stop automatically once the cash advance has been repaid in full.
Am I eligible for a Rev&U™ cash advance?
Has your business been trading for a minimum of 6 months?
Does your business’ monthly credit and debit card sales exceed £10,000?
You’re eligible
Get a quoteYou must take at least £10,000 per month in card sales and have been trading for at least 6 months
Request a callbackBehind thousands of SMEs in the UK
We’re supporting thousands of SMEs in the UK, helping them to build a solid foundation for long term business success.
How much capital does your business need?
Use our calculator and see how Rev&UTM could help your business.
£60,000
funding received
£100
for every card transaction
85% = £85
goes to your account
15% = £15
goes to 365 finance
A simple and secure way to finance your business
Apply in minutes
Complete the application form. It takes less than 5 minutes!
Relationship manager
Be allocated a relationship manager to assist with any queries.
Approval under 24h
A decision will be made under 24h.
Get your cash advance in days
Funding directly into your business bank account within days
We have utilised 365 on a number of occasions mainly to service our requirements through the autumn and winter periods. The type of facilities suit the pattern of our business and I will always consider this to be our first port of call.
Grahame, Business owner
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