As a Handepay customer, your business can free up capital to enable business growth with no disruption to cash flow.
With fast funding from £3,000 - £500,000 and flexible repayments, a cash advance is perfect for businesses who take card payments with Handepay.
Only available to existing Handepay customers using EVO Payments.
If you do not use EVO Payments, an alternative may be available.
"It is so refreshing to find a lender who is prepared to review your business in a practical and sensible way and deliver on what they promise. We were looking for a short term business loan secured against a robust income stream quickly and at reasonable rates and that is what we got, simple, honest and straightforward. It is great to know that we now have a lender in the background should we need short term business loans quickly in the future."
A business cash advance 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.
Find out more and arrange funding
Perfect for businesses with little personal or business assets, but a good volume of card transactions.
Unsecured funds up to £500k
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 advance
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 £3,500 in card transactions per month. All Cash Advance and Loan Advance applications are processed by our dedicated provider, YouLend ApS.
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 and not a loan, there is for example no maturity date.
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 (1) incorporated entities (private limited companies, public limited companies, limited partnerships and partnerships where 2/3 of all partners are incorporated entities also known as bodies corporates), and (2) unincorporated entities (sole traders and partnerships where less than 2/3 of all partners are incorporated entities) seeking to obtain more than GBP 25,000 in financing. 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.