We offer a type of business loan called a merchant cash advance which differs from a traditional loan in its repayment method. Unlike loans with fixed monthly payments, cash advances involve repaying a portion of your daily credit card sales towards the advance.
This flexibility ensures that you repay only when your customers make payments to you. Repayments align with the seasonal ebbs and flows your spa encounters - during quieter trading months, you pay back less, however, during peak times your pay back faster.
For example, when a customer pays £100 for a spa package using a card, and an agreement is in place to repay 10% of the card revenue to the lender, you'd retain £90 while the remaining £10 goes towards repaying the advance.
This type of funding is unsecured too which eliminates the need to provide specific collateral.