Business Finance provided by YouLend
The Handepay Loyalty Programme partner YouLend can give you access
to fast and flexible funding at a time when your business needs it the most.
With YouLend, your finance is uniquely repaid via your card machine or e-commerce site…
By clicking here you will be re-directed to YouLend's website to
start your application directly with the lender
Fast funding and flexible repayments
- Advances between £3,000 - £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
By clicking here you will be re-directed to YouLend's website to start your application directly with the lender
Only available to existing Handepay customers using EVO Payments.
If you do not use EVO Payments, an alternative may be available.
What exactly is Business Finance provided by YouLend?
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.
Find out more and arrange funding
By clicking here you will be re-directed to YouLend's website to start your application directly with the lender
How it works
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.
The Benefits
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
FAQs
- Your business needs to have been trading for 3 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.
All Cash Advance and Loan Advance applications are processed by our dedicated provider, Youlend Limited T/A Youlend.
The funding offer is not connected to the funding offered by the UK Government.
Handepay’s activities in relation to the YouLend products do not constitute regulated credit broking.