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Opinion: The Quick Way To Boost Your Cash Flow

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Access to finance remains one of the biggest challenges a small business owner will face. 

Small businesses are finding it increasingly difficult to access much-needed funding to manage cash flow and to invest in growth. In a recent UK wide survey, business owners identified cash flow as the single biggest issue for UK small businesses and nearly a third are losing sleep over it.

The survey also showed that, due to strict conditions applied by traditional lenders, 30 per cent of businesses are still relying on personal funding. Banks require comprehensive business plans and forecasts to demonstrate growth and repayment strategies, and there are even stories of perfectly eligible businesses being refused credit from their bank. Our customers often tell us it isn’t feasible to take time away from their business to make appointments at the bank.

This is why a business cash advance has become the simplest alternative to traditional finance methods. 

We provide small businesses with an instant short term cash injection, allowing them to make investments for growth quickly and easily. The basic principle is that you’ll receive a cash advance from as little as £500 up to the equivalent of one month’s credit and debit card turnover. The advance is then paid back through card transactions; an agreed percentage is deducted at the end of each day, meaning repayments are barely noticeable and you won’t need to struggle to find a fixed monthly repayment. 

One of the best features of a business cash advance is that it’s much quicker and easier to secure than a bank loan. The application process at Quick Capital, for example, is simple: there’s no need to supply business plans or forecasts, and funds are transferred in as little as 72 hours.  Repayments are much more flexible, since they move up and down in line with your daily credit and debit card sales.

Our customers love the speed and flexibility that short term finance offers them. A business cash advance typically only takes six months to repay and a funding top-up is offered towards the end of the repayment, which nearly half of our customers have taken advantage of.

A business cash advance can be used by almost any industry that accepts card payments, for any reason at all. Some of the most common uses of a cash advance are to purchase stock, refurbish premises, pay for unexpected outgoings, or to simply boost cash flow. 

Mike Prendergast is the Finance Director of Quick Capital. If you feel a business cash advance could be the flexible alternative you’ve been looking for, call 0800 3777 402 or visit www.quickcapital.co.uk to find out how much you could raise.