Business funding exclusive to Handepay customers
In partnership with YouLend, you have access to fast and flexible funding to grow your business.*
Whether it's stocking up, refurbishing your premises or simply boosting cash flow, you could access funding in just a few days.
Apply online for your pre-qualified funding offer and get a decision typically within 24 hours.
By clicking here you will be re-directed to YouLend's website to start your application directly with the lender.
- Apply online and get a decision typically the same day.
- Expert team on hand to help you through the process.
- Once approved you can access funds in just a few days.
- You repay a small amount each time your customers pay you by card.
Product Explanation: Two types of financing products are provided.
1) Cash Advance: This is a transaction whereby the merchant sells, and the purchaser purchases a specified portion of the merchant’s current and future card receivables through a sale and purchase agreement in consideration of a purchase price paid to the merchant. The sold card receivables are collected through an agreed fixed percentage of the merchant’s card takings. This is a sale of receivables only, not a loan.
2) Loan Advance: This is an unsecured amortising loan with a fixed maturity date. The loan is repaid (amortised) through the greater of (1) an amount equating to an agreed fixed percentage of the merchant’s card takings, and (2) a weekly minimum amount. This loan product is only available to incorporated entities (private limited companies, public limited companies, limited partnerships and partnerships where 2/3 of all partners are incorporated entities also known as body corporates). Any credit to be provided to a merchant as borrower is to be applied for business purposes relating to the merchant only and not for the benefit of any other person; The merchant borrower is being made aware that the loan agreement entered into by the merchant borrower will not be subject to the regulation and legal protections applicable to loans that are consumer credit or regulated mortgage contracts.
Benefits of Handepay Business Finance
Perfect for businesses with little personal or business assets, but a good volume of card transactions.
Unsecured funds from £3,000 to £1,000,000
Up to 2 x your average monthly turnover on card transactions
Fastest route to funding
Typically 1-7 days from application to receiving funds
Only pay back as you earn
Repaid as an agreed percentage of your future card sales
Online tracking of repayment process
Full transparency of your finance facility
No hidden fees
No late payments, monthly charges or hidden costs
Easy to renew
More than 80% of customers renew their funding
What exactly is Handepay Business Finance?
Your funding is repaid via your card machine or e-commerce site. When a customer pays by card, a fixed percentage of that transaction is used to repay the advance. This percentage stays the same regardless of the transaction value, so you’ll always repay proportionately with your cash flow.
Apply online and get a decision typically the same day.
By clicking here you will be re-directed to YouLend's website to start your application directly with the lender
Handepay Business Finance FAQ
- Your business needs to have been trading for 6 months or more.
- You need to be accepting card payments with Handepay via EVO Payments, either with a card machine or online via an e-commerce payment gateway. If you don’t use EVO payments, an alternative may be available but you’ll need to contact us.
- A minimum monthly turnover of £1,500 in card transactions is required.
The level of funding you could receive is dependent on your average card turnover. Typically, you could receive an advance of up to 2 x your average card turnover, so if you take £10,000 per month on cards you could be eligible for an advance of up to £20,000 in total.
Your advance is automatically repaid from your card revenue. When your customer pays by card either via your card machine or e-commerce site, a small fixed percentage of that transaction is used to repay the advance. This percentage is agreed when you sign up and will stay the same regardless of the transaction value, so you’ll always repay proportionately with your cash flow. This process will continue until the advance is fully repaid.
Only available to existing Handepay customers using EVO Payments. If you do not use EVO Payments, an alternative may be available. *Eligibility criteria will apply. Business must be trading for 6 months or more, with a minimum of £1,500 in card transactions per month. All Cash Advance and Loan Advance applications are processed by our dedicated provider, Youlend Limited T/A Youlend.
Prequalified offer is indicative, calculated using your last 12 months’ trading activity and intended as a guide only. Our funding offer is not connected to the funding offered by the UK Government.
Handepay Ltd is authorised and regulated by the Financial Conduct Authority (FCA) for Consumer Credit under FRN 673564. Handepay is a credit broker for consumer hire, not a lender. Handepay’s activities in relation to the YouLend products do not constitute regulated credit broking.