As a business owner there are many funding options available. However, not all of them may be suitable and are dependent on different circumstances.
Obtaining business finance
Success for small businesses is about winning and retaining customers by differentiating products or services and staying ahead of the competition. This often means changing product ranges, making refurbishments, buying new equipment and recruiting. However, obtaining finance may be an obstacle.
Some funding options involve lengthy or tiresome processes. They are likely to depend on credit ratings or historical performance. If a business has previously failed to secure finance elsewhere and they have a poor credit rating then they will probably need to shop around.
NetPay has partnered with Liquid Finance to help solve this problem, providing an unsecured business finance product offering £3,500 to £250,000 based on (and up to 100% of) monthly card turnover.
There are no payment deadlines or penalties, as a percentage of daily terminal takings is used to pay back the advance and fees.
NetPay customers already have transaction details stored on NetPay’s Revolution platform, reducing the amount of time needed to establish background information when applying for finance.
• Easy to apply
• The application process is simple - fewer documents than when using a bank
• No collateral/security is needed
• The Revolution platform identifies merchants that are showing growth trends
• Fast approval – usually less than 7 days
• Cash flow friendly – capital keeps pace with card takings
• Payback as you earn - no repayment deadlines; pay back as sales go through card terminals
• Small daily repayment amounts
• Personalised repayment plan and transparent pricing – no hidden charges