A Business Cash Advance is finance that's based on your current and future revenue/sales.
You can borrow up to 175% of your monthly card revenue/sales, with finance available from £3,000 up to £2M to help achieve your business dreams.
Decisions in minutes with our innovative, market-leading technology
Repayments are based on your card revenue, so you pay back little by little.
The entire cost is agreed up-front. No surprises or hidden fees, just one cost that won't change over time.
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:
Transform your business by completing our simple merchant loan application form.
Our award-winning technology will provide you with an offer in minutes.
Sign your documents effortlessly from anywhere, any time, using any device.
Get access to your Cash Flow loan the same day.
Use your funds to start changing your business for the better!
We help thousands of UK businesses achieve their goals every year
Getting a small business cash advance can give you the financial support you need in a variety of situations. There are many reasons why SMEs often require access to extra funds, including:
Have you got plans to refurbish or extend your existing space, or perhaps even open another location? A small Business Cash Advance loan could help you do just that.
If you’re looking to expand your business, merchant funding can be used to grow your team by helping you hire new staff or invest in your existing employees’ development.
Merchant business funding can provide you with the opportunity to get your hands on whatever stock you may need, whenever you may need it.
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 Business Cash Advance lender.
If you’re still relatively new, merchant lending could cover set-up costs and help you find your feet.
We have already lent over £2billion 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:
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 quick Business Cash Advances are tailored to your business. Your company will only pay back what you can afford, with no fixed borrowing term.
The application process is simple, and you can apply for a BCA in minutes. Unlike other cash advance companies, with us you can expect hassle-free repayments, which are calculated automatically.
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 fast Business Cash Advances from between £3,000 and £2m.
Yes. Both terms are often used interchangeably to describe the same product.
Kind of. Technically, all types of borrowing are a loan. However, there are a few key differences between a BCA and a loan.
Firstly, whereas some traditional loans are secured, a Merchant Cash Advance is not. This means that you don’t need to put up assets as collateral. So, you don’t need to be a homeowner to access this form of funding. Instead, the advance is secured against your current and future card takings.
Secondly, unlike normal loans, cash advances are flexible. During busy periods, you’ll pay off a larger chunk of your advance. During slower months, you’ll pay off less. In other words, the time it takes for you to repay the finance depends on your business performance. Another difference between a Business Cash Advance and a loan is that standard loans can incur large charges or penalties for early repayment. A cash advance doesn’t. Not only can you pay these back early without incurring a fee, it’s also impossible to make a late payment as the repayments are taken as a proportion of your card takings, rather than as a fixed amount.
Some of the benefits of getting a Merchant Cash Advance for your business include:
Although a Business Cash Advance is a great option, it’s not without its downsides:
You’ll repay a small, pre-agreed proportion of your card sales. This means the amount you’ll have to pay varies depending on how your business is performing. If you’re having a quieter month, for example, you’ll repay less. This helps you manage your cash flow accordingly.
You’ll be eligible for one of our quick Business Cash Advances if you take payments by card, have been trading for over 4 months and are based in England and Wales.
A Merchant Cash Advance can benefit all kinds of businesses, including:
We can offer Business Cash Advances of up to 175% of your monthly card takings, from £3,000 up to £2m.
One of the benefits is that you don’t pay interest or APR on a Merchant Cash Advance. Instead, you’ll pay a single cost which is agreed at the start of the advance. This fee is fixed and won’t change, even if you repay early.
As you pay back a pre-agreed proportion of your card sales, the time it takes for you to repay depends on the value of your monthly card sales. This is different to a traditional loan where you may have fixed monthly payments.
No, you don’t! One of the benefits of a small Business Cash Advance is that you don’t need to provide a security. Whether or not you’re approved for the loan is based on your card sales.
If your application is approved, you could have the funds in your account within 24 hours.
Yes – and there are no early repayment fees.
To qualify for a Merchant Cash Advance, you will need to have been trading for at least four months.
Taking out a cash advance should have no direct impact on your credit score. This is because your lender will normally only do a soft credit check. But it’s worth bearing in mind that if the lender has doubts as to whether you can meet your obligations, they may request a hard credit check. If this is the case, your credit score may be impacted.
Yes, you can. One of the benefits of a Business Cash Advance is that they are suitable for companies with less-than-perfect credit scores. Rather than assessing your suitability using only your credit score, we will look at other factors – such as your monthly card revenue.
Yes, as long as you meet the eligibility criteria, you can apply for a Business Cash Advance with us as a sole trader.
Like any other loan, if you default on a payment, the lender may take action to salvage their loss. If you have provided a personal guarantee, the lender might take possession of the borrower’s assets to recover the cost of the loan.
That’s why it’s important that you’re able to repay the loan before you accept the offer. If you’re not sure whether a cash advance is right for you, we might be able to help you with another form of funding.
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’. This is the multiplier to determine the price of your merchant loan. For example, if your factor rate is 1.4 on funding 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 provides businesses with card processing accounts/card terminals. Key examples include Worldpay, Lloyds/Cardnet, FDMS/First Data, Barclaycard, Elavon, HSBC/Global Payments, AIB.
You should be able to, yes. Most Merchant Cash Advance lenders will be able to work with your existing provider. If not, you may need to swap your current card machine to a different provider.
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, December 2021’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.
If you don’t think that a Merchant Cash Advance is right for your business, why not take a look at our other types of funding? As well as off-the-shelf solutions, we can also offer a customised combination of products, tailored to your needs.