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Nucleus

Business Cash
Advance

Business Cash Advance

A Business Cash Advance (BCA) is a type of lending based on future revenue, calculated on your card takings. With Nucleus, you can borrow up to 125% of your monthly card volumes, from £3,000 to £150,000 and above. Read on to find out how a BCA from Nucleus could benefit your company.

£3k to £150k+
Up to 125% of monthly card takings
Flexible repayments

What is a Business Cash Advance?

If your business takes card payments and needs a cash flow boost, then a Business Cash Advance (BCA) is the perfect solution. A Business Cash Advance – also known as a Merchant Cash Advance – is a type of lending based on future revenue and works like a business loan but with flexible – instead of fixed – monthly repayments. 

With a standard business loan, you will receive a lump sum at the beginning of the term and continue to pay interest for as long as the amount is owed. This means that the total cost of the finance will vary depending on how long it takes you to pay the loan back.

The difference between a standard business loan and a BCA is that, with a Business Cash Advance, the total cost of finance is agreed upfront. Repayments are taken from your revenue, and as this method of repayment is proportional, you will pay back more when your revenue is higher and less when things are slower. The total cost of finance, however, does not change.

The funding can be used for any business purpose and is calculated on your business card takings. If you’re looking for the best Business Cash Advance loan, you’ve come to the right place. With our Business Cash Advance loans, you can borrow up to 125% of your monthly card volumes, from £3,000 to £150,000 and above.

We combine the stability of bank finance with the flexibility and speed of alternative lending platforms and continue to support growing companies with the finance they need to flourish.

What can BCA be used for?

 new premises  growth  stock  new equipment  working capital

Download the Business Cash Advance Fact Sheet

How can BCA help?

Fast

Same day decision and funding, with a full packaged application.

Flexible

Tailored to your business. Your business only pays back what you can afford, with no fixed borrowing term.

Simple

Apply in minutes. Hassle-free repayments, calculated automatically.

Human

Dedicated account manager. We understand your business and how to help with growth.

Applying For a Business Cash Advance With Nucleus

We want to help make life easier for you. That’s why we’ve made the process of applying for a cash advance in the UK as simple as possible. Below are the criteria you need to meet, the documents we’ll ask for and the steps for you to follow

STEP
-1-

You identify that your business needs funding.

STEP
-2-

We confirm that your business meets the eligibility criteria.

STEP
-3-

We agree a repayment split as a percentage of card takings.

STEP
-4-

We advance the money to your business in a few days.

STEP
-5-

You use the merchant finance to achieve your business goals.

APPLY NOW

Eligibility criteria

  •  Takes payments by card
  •  Trading for 4 months
  •  Registered in England and Wales

Required documents

  •  Minimum four months' card statements
  •  Typically 3 months' bank statements
APPLY NOW

Getting a Merchant Cash Advance can give you the financial support you need in a variety of situations. There are many reasons why businesses often require access to extra funds, including: 

New premises

 Have you got plans to refurbish or extend your existing space, or perhaps even open another premise? A small Business Cash Advance could help you do just that.

Growth

If you’re looking to expand your business, merchant finance can be used to grow your team. Utilise a Merchant Cash Advance by hiring new staff or investing in your existing employees’ development.

Stock

A Business Cash Advance can provide you with the opportunity to get your hands on whatever stock you may need, whenever you may need it. 

New equipment

 If you’re looking for new equipment to extend your offering, or would like to upgrade existing technology or machinery, look no further than Nucleus as your Merchant Cash Advance lender. 

Working capital

 If you’re starting up, a BCA could cover set up costs and help to get your initial idea off the ground.

We have already lent over £1billion to UK SMEs – and yours could be next. Here are just some of the reasons why we’re seen as a premier Business Cash Advance lender:

Fast service

If you are looking for a Merchant Cash Advance in the UK and you need it quickly, you’ll be happy to hear that we offer same-day approval and funding with a full packaged application. Apply online in minutes and receive a quick decision.    

Flexibility

Our Business Cash Advances are tailored to your business. Your company will only pay back what you can afford, with no fixed borrowing term.

Simplicity

The application process is simple, and you can apply for a BCA in minutes. With us, you can expect hassle-free repayments, which are calculated automatically.

We’re human

We have an expert team that are always on hand to help. When you apply for a BCA with us, you will receive a dedicated account manager. Our team understands your business and knows how to help you grow.

Range of funding

Depending on your needs, we can offer Business Cash Advances from between £3,000 and £150,000+.

FAQ's

Yes. Both terms are often used interchangeably to describe the same business funding product.

If your application for a Business Cash Advance is approved, you could have the funds in your account within 24 hours.

To qualify for a Merchant Cash Advance, you will need to have been trading for at least four months.

Your Merchant ID Number is the number attached to your processing account (i.e. Lloyds/Barclays/Worldpay) and is used to identify your business for card payment processing. It is very similar to an account number on a bank account.

When you apply for a Merchant Cash Advance, you will come across the term ‘factor rate’. A factor rate is the multiplier to determine the price of your merchant loan. For example, if your factor rate is 1.4 on a loan of £10,000 over twelve months, you’ll pay back £14,000. It is a fixed price and does not fluctuate like interest rates.

When you apply for merchant finance for your business, the split % is the amount of card sales repaid to Nucleus, i.e. 20%. This means 20% of your customers’ daily card transactions will be sent to Nucleus’ bank account as repayment.

A card processer, or acquirer, is a company that provide businesses with card processing accounts/card terminals. Key examples include Worldpay, Lloyds/Cardnet, FDMS/First Data, Barclaycard, Elavon, HSBC/Global Payments, AIB.

After you have applied for a Business Cash Advance, the director or sole trader of the business will have to sign a Sales & Purchase Agreement (SPA), which states the terms of the agreement. By signing it, you will be providing confirmation that Nucleus will have control of your card receivables throughout the contract.

A guarantee & indemnity form is a contract that must be signed by you when you apply for your Business Cash Advance. By signing it, you are providing confirmation that if your business does not or cannot pay, you will personally guarantee any outstanding repayments.

A mandate form is a document that must be signed and completed for each Merchant ID Number (MID) by the customer. It instructs the card processor (i.e. Worldpay) to divert the card terminal revenue into the Trust Account.

Processing statements, also known as card statements or acquirer statements, are monthly breakdowns of the revenue coming through each Merchant ID Number. For example, October 2019’s statement may show you that your business took 20 transactions, which totalled £10,000.

If your business has multiple Merchant ID Numbers (MIDs), then they can sometimes be grouped together under the Head MID/HQ. Any MIDs that sit under the HQ/Head MID are called Outlets.

More Information