Handepay Business Finance



As a Handepay customer, your business can free up capital to enable business growth with no disruption to cash flow.

With fast funding from £1,000 - £1,000,000 and flexible repayments, a cash advance is perfect for businesses who take card payments with Handepay.



Repayments based on a fixed percentage of all your future card transactions



Fast funding and flexible repayments

 

  • Advances between £1,000 - £1,000,000
  • Funds sent to you in days
  • No interruption to cash flow
  • Expert team on hand to help you
  • Repayments based on a fixed percentage of all your future card transactions






Only available to existing Handepay customers using EVO Payments.
If you do not use EVO Payments, an alternative may be available.






 

 

 

 

 



What exactly is Handepay Business Finance?



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.



Handepay Business Finance



Find out more and arrange funding





 

How it works





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Benefits of a business cash advance



Perfect for businesses with little personal or business assets, but a good volume of card transactions.



Unsecured funds from £1,000 to £1,000,000

Unsecured funds from £1,000 to £1,000,000
Up to 2 x your average monthly turnover on card transactions

Fastest route to funding

Fastest route to funding
Typically 1-7 days from application to receiving funds

Only pay back as you earn

Only pay back as you earn
Repaid as an agreed percentage of your future card sales

Online tracking of repayment process

Online tracking of repayment process
Full transparency of your finance facility

No hidden fees

No hidden fees
No late payments, monthly charges or hidden costs

Easy to renew

Easy to renew
More than 80% of customers renew their advance





 

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, BCCAP Limited T/A Youlend.


Prequalified offer is based on the assumption of normal trading and card turnover / no temporary closures. If closures have affected your card turnover, a different amount will be offered and funding is subject to continued trading. If you have temporarily stopped accepting card payments we will be unable to fund your business at this moment in time, however, we will be able to offer funding as soon as you start to process card payments again in the future. Our funding offer is not connected to the funding offered by the UK Government

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 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.