Ashley launched a new finance package for businesses who take credit/debit card payments

  • Anil Kanda
  • 06 Feb, 2013

Manchester firm Ashley has launched a ground-breaking cashflow finance product aimed at relieving some of the short-term financial pressures being suffered by SME’s.

Ashley Business Cash Limited provides businesses with cash injections of £10,000 minimum up to £100,000 based on future credit/debit card sales.

It provides lump sums – or cash advances sometimes referred to as merchant cash advances – based on future revenue.

Customers then make repayments through debit and credit card sales, typically over a 6-month period, using the business’s existing PDQ terminal.

Head of Ashley Business Cash, said: “These are challenging times for businesses in the retail sector, particularly when it comes to accessing finance, because many of the banks are still reluctant to lend money.

“Many bonafide small businesses are coming under increasing pressure and, whilst the Government is doing its bit to try to help, business owners are still finding it difficult to access funds.

“Our cash advances are designed to give businesses a shot in the arm and ultimately help them to unlock their future sales potential.

“The cash can be used for any business need, whether that’s working capital, opening additional locations, renovating or refurbishing existing premises, purchasing equipment or additional stock, PAYE, VAT, wages or any other business needs they might have.

“Unlike a bank loan there are no up front fees, no fixed monthly payments, high approval rates and a fast turnaround.

“You can also extend the loan at any time to ensure an ongoing source of capital as your business grows.”

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