We know that this is a worrying time for many businesses. With that in mind, we’re working with YouLend to offer our customers Business Funding. It provides fast and flexible access to finance, with repayments that are proportionate to your earnings.
This funding is only available to businesses that are currently trading. Repayments are taken as a fixed percentage of your card takings, which means you only repay as you take payment.
Once you’ve received your Business Funding, the repayments automatically begin when you take card payments. A percentage of every card transaction is used to repay the funding and this percentage is chosen by you.
How it works
Our experts will help guide you through the process.
For businesses that are trading, funding will typically be in your account within a few days.
Only pay back as you get paid.
A percentage of each transaction is used to repay the funding.
You’ll need to enter one of your Merchant IDs and provide some details about your business. Then select the funding amount and your repayment option.
For businesses that are trading, funds will typically be in your account three business days later.
Repayments will automatically be taken as a fixed percentage of your takings.
For more information, speak to a specialist on 0800 804 8109.
How much Business Funding am I eligible for?
The amount you're eligible for depends on your monthly revenue, and how long your business has been operating. You'll get an estimation once you input these details at the start of the application process.
How do I make repayments?
Once you've received the funds, the repayment process begins automatically. From this point on, a percentage of your card transactions will go towards paying off your advance. This is a percentage that you choose before the money is transferred, and stays the same regardless of the transaction value.
How do I check my balance?
As part of the application process, you'll set up a YouLend account with details of your Business Funding. You can log into this any time to check the progress of your repayments, and view the outstanding balance.
How long does it take to repay?
This depends on the size of the advance, the repayment percentage and your card turnover. The typical length to repay is 8 months.
Will I definitely be accepted?
Eligibility criteria will apply. Funding is only available for businesses that are still trading. Your pre-qualified funding amount may be adjusted to reflect changes to your regular trading. All Cash Advance and Loan Advance applications are processed by our dedicated provider, YouLend ApS.
What types of business finance do YouLend offer?
There are two types of finance products: