Modern Retail

Merchant cash advance: a post lockdown saviour

Lockdown across the UK has put a lot of unwanted pressure onto businesses of all shapes and sizes. Financial difficulties are unfortunately a guaranteed outcome of COVID-19 for businesses, both large and small. The vast majority of companies have had to close their doors for the foreseeable future, meaning no funds from customer sales can be received during this out-time.

For the companies that manage to make it through the lockdown and plan on re-opening to the public, they’ll undoubtedly need a boost of funding. The merchant cash advance is a product that can supply interrupted businesses with the funds they need in order to get them back on their feet. The merchant cash advance is something that many business owners have looked to utilise in the past, before lockdown, and it has lead to countless success stories. PDQ Funding are a market leading merchant cash advance provider, and applying for the product through their website couldn’t be easier.

Nice and easy

The application process when dealing with PDQ Funding is quick and easy, allowing you to get your funds as soon as you need them. They operate in an online space, meaning you can fill out an application form directly online, as long as you have the correct documentation to hand that relates to your business.

They will require you to provide recent bank statements and credit card statements during the application process from your business. This is so they can do general checks that any merchant cash advance provider would need to outtake.

There are further positives to the recent trend of merchant cash advances however, including the fact that clients’ credit scores are not affected. This is because you’re not taking out a loan, you’re simply selling future credit card sales for upfront cash. As a result of this, you will never have to worry about making monthly payments, as you’ll only be repaying when your business is booming.

What about credit score?

As it isn’t a loan, you won’t have to worry about the current state of your credit score either, which is a positive for many clients’ stories we’ve heard so far. Knowing that you credit score won’t receive any negative effects is a huge boost for business owners, and something that often leans them towards merchant cash advances, rather than going down the tedious and often disappointing route of high street banks.

New business owners

If you’re the owner of a new business, this is the perfect product for you. We fully understand that building a business takes time and unfortunately a lot of funds. But, the merchant cash advance has grown in popularity over the last year, with roughly 8% more business owners choosing this alternative funding solution.

If your business is mere months old, but you’ve seen a key way to improve it, don’t allow funding to hold you back. With the merchant cash advance from PDQ Funding, you’ll only make repayments when you’re making sales.

After lockdown

If you believe the merchant cash advance is a product that may help your business once lockdown finally comes to an end, you should contact PDQ Funding today, and allow a member of their expert team to guide you through the options that are available to you.

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