| Hair
Salon Finance
IF YOU REQUIRE FINANCE FOR YOUR SALON AND NEED
AN ALTERNATIVE TO BANKS
· FAST ACCESS TO FINANCE IN 2 WEEKS
· NO BUSINESS OR PERSONAL SECURITY
· FUNDS CAN BE USED FOR ANY PURPOSE
· REPAYMENT LINKED TO SALES
· NO HIDDEN FEES
TO GOOD TO BE TRUE?
READ ON AND FIND OUT ABOUT MERCHANT CASH EXPRESS
A
new concept in raising finance for businesses, which
has been highly successful in the US for many years,
is now available in the UK. Bearing in mind the effect
of the credit crunch on the attitide of banks and asset
financers this could not have come at a more opportune
time for salon owners who are looking to raise finance.
Merchant
Cash Express (MCE) allows you to raise cash today against
future credit/debit card sales and David
Drew of Impact Business Consultants
believes that this can fill a much-needed funding gap.
The
major benefits are that the funding can be used for
any purpose. The application process is simple, no security
is required and the funds are normally in your bank
account within two weeks.
The
amount that can be raised is calculated on the average
monthly card sales over the previous 12 months period
and is a minimum of £3500 and maximum of £100000.
Applicants need to provide the previous 12 months card
statements, three trade references, and be up to date
with rent and have good standing with your card processor.
As
Lloyds Cardnet are MCE UK partners, it is necessary
to change to Cardnet but they will match or improve
the terms provided by the current card processor.
Repayment
is completely automated as Cardnet will deduct an agreed
percentage, usually 20%, for future card sales and pay
this to MCE until the amount advanced has been repaid.
As
MCE is a factoring company, not a bank, there is no
interest rate. Future card sales are purchased by MCE
at a discount, which means there is a fixed amount agreed
at the outset, but the repayment period is linked to
sales, if they increase repayment is quicker, if sales
fall then the period is longer.
There
are no hidden fees or charges. No requirement for accounts,
tax returns etc.
David
Drew regularly raises finance for salon owners as part
of his highly successful consulancy to salon owners
and is well aware how difficult it is to obtain finance
from banks, especially in view of the continued tightening
of credit policies and lending criteria. As David knows
all too well, banks will always look for security, which
usually mean your private property, they will only lend
for certain purposes, there is always a fixed repayment
which has no relation to how your business is performing
and fees are always taken out of the loan up front .
If
you can fulfil all of the banks criteria, it will still
be up to 2 months before the funds are released.
MCE
could not be more straighforward and David recommends
that salon owners should consider this type of funding
and will be delighted to discuss how the funding can
be used in your business.
For
more details contact
David Drew at Impact Business Consultants…………..
T/F: 01243 778598 M: 07768 242034
E: david[at]impactbusinessconsultant.co.uk
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