Merchant Cash Advance sales increase
Many businesses across the UK have received a boom in sales since the recent general election. Reports gathered across the country have calculated that online businesses have received one of the biggest success increases so far.
Within the UK business industry, one area that has seen a surprising level of growth is the popularity of the Merchant Cash Advance. This type of product is designed to be an alternative funding solution which allows any business to acquire financial funds. It lets any business that uses a PDQ terminal to get an advance of cash against future credit/debit card receipts.
You may find yourself asking, “What is a merchant cash advance?” Well, it’s a product that essentially gives businesses extra funding for purchases and improvements they need to make in order to achieve growth. The funding is then paid back as that business makes sales, meaning that if they have a slow sales week, they won’t be met with a nasty surprise loan payment waiting for them.
PDQ Funding are a company that have found great success with the product since the turn of the new year, and have actually reported a 37% increase in sales of their merchant cash advance product. The company are based online and have a history of helping businesses all around Britain to gain new funds they can use to cover whatever needs they have. Past success stories have included companies that were wanting to expand upon teams of staff, purchase new stock to sell on, and even more to an entirely new location.
A spokesperson for PDQ Funding named Lee Jones, has recently had his say on the positive situation. He stated that, “The rise in popularity of this particular product has coincided with the turn of the new year very positively. Since the results of the general election in November, we have received a major rise of merchant cash advance funding options being taken by our clients, which has handed our company a real boost, while hopefully helping the fate of many other businesses along the way”.
The merchant cash advance product is popular with business owners that have a negative credit score, as this is often not taken into consideration by companies that supply the service. Here’s what Jones had to say on the matter, “We see the merchant cash advance as a product that can help businesses that really need it. If you see an exciting development that would take your venture to the next level, but don’t have the funds to activate it, we can help you with that. There is no need to shy away from potential business success when you have funding options that are easily accessible to you”.
Merchant cash advances are particularly popular with smaller-scaled companies and new start-up businesses. This is because the added funds can help them to grow their audiences, clients, and customers; ultimately profiting in the long run.
This product is set to continue its success throughout the year, with offerings of it from numerous businesses. While PDQ Funding are clearly the market leaders in this new business trend, the popularity of the product will likely see many more businesses trying their best at replicating it or coming up with similar ideas of their own.