Business Finance provided by YouLend
By clicking here you will be re-directed to YouLend's website to start your application directly with the lender
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…
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
Available to existing Handepay merchants receiving acquiring services though one of Handepay’s preferred acquiring service providers. If you do not receive services through a preferred provider, and alternative may be available.
What exactly is Business Finance provided by YouLend?
The business funding is provided as a cash advance on your future card receivables. You sell a specific portion of your future card receivables to YouLend for a fixed price, which is the funding amount.
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
Cash advance product explanation:
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.
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 their preferred acquiring service provider, either with a card machine or online via an e-commerce payment gateway. If you don’t use a preferred provider, 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.
Prequalified offers are indicative only and are calculated using up to 12 months’ trading activity of a business of a similar size and type. These are intended as a guide only, and, as part of the application process, the final amount of funding you are eligible to receive shall be confirmed by YouLend in their sole discretion.
The cash advance product is not a regulated loan or credit agreement is therefore not subject to the regulation and legal protections applicable to loans that are consumer credit or regulated mortgage contracts. Handepay’s activities in relation to the YouLend product does not constitute regulated credit broking. All applications are processed directly by YouLend Limited the funding provider.