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Flexible funding for business expansion


365 Business Finance, a financial provider to small and medium sized companies, has revealed that MOT garages are among the top ten business categories taking up merchant cash advances to expand, with the direct lender experiencing a 40% increase in MOT test centre customers in the last 12 months.

When it comes to getting the finance to grow their businesses, many garages and vehicle repair workshops are turned down by high street banks or are required to secure loans against their business or property, supply business plans and commit to lengthy terms. A merchant cash advance is designed to match a businesses’ cash flows, with repayments taken as a small percentage of debit and credit card sales, so funding is only paid back when customers pay them. The cost is fixed up-front regardless of how long it takes to pay, with no late fees or hidden costs.

365 Business Finance Managing Director, Andrew Raphaely, said, “We’ve seen strong growth in demand from MOT garages as they seek funding for expansion, to acquire new equipment and stock, or to keep on top of cash flow. These business owners are increasingly looking for alternative finance and a merchant cash advance offers a fast, flexible solution. Unlike a traditional bank loan, repayments are taken as a small percentage of their card sales, so they only pay back the funding when their customers pay them.”

The company funds UK businesses with merchant cash advances from £5,000 to £200,000. Eligible businesses must have been trading for six months and take at least £5,000 per month in debit and credit card transactions.


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