Business Cash Advance

• What is a Business Cash Advance?

  A Business Cash Advance is a flexible alternative to a business bank loan and a quick way to raise capital for your business. It's set up for businesses that process payments through a card machine or online payment system. You repay as an agreed percentage of your future card sales, mirroring your cashflow so there's no fixed monthly payments.

  This means when you have a period where sales are slower, the amount you repay will reduce in line with your card sales to give you breathing room. Equally, if your business is doing better than expected, your repayment amount will increase, but the percentage that is retained will always remain the same. The more card payments you process, the quicker your Business Cash Advance is paid off. 

• How do I apply for a Business Cash Advance?

  If you meet the eligibility criteria and have opted in to receive Marketing communications, we'll email you with an offer. To view this offer and apply, simply swipe left on the Account Overview screen within the Cashplus Bank app, or visit the 'add-ons' section in Online Banking.  

• How do I repay my Business Cash Advance?

  Unlike bank loans, there are no complicated APRs and repayments are only ever taken as a fixed percentage of your future credit and debit card sales. This works particularly well for seasonal businesses with a fluctuating cashflow, as when business is quiet, you’ll pay back less. And if business is busy, you’ll be paying back more - always the same percentage of your card takings.

• What if I can't afford my Business Cash Advance repayments?

  If you find your financial situation changes and you’re struggling to keep up with your repayments, you should contact us straight away to discuss how we can support you.

  Alternatively, if you’re experiencing financial difficulty, you should consider contacting the Citizens Advice Bureau who may be able to help you with free information and confidential advice. Please visit www.citizensadvice.org.uk or call 03444 111 444.

• Can I opt out of receiving credit offers?

  Absolutely, if you don't want to receive any future credit offers from us, just let us know by emailing us at [email protected].

  If there's a specific product you don't want to receive offers about, please include that in the subject line, so we can let you know when you're eligible for other suitable products.