Merchant Finance is a form of unsecured finance supplied specifically to businesses such as hotels where a large proportion of revenue comes from customers paying on credit cards.
This is actually a discounting facility, where you are simply selling future income, today at a pre agreed rate. The lender is not a bank, there is no interest, no bank managers, no hidden fees
Typically this is one month’s worth of credit/debit card takings. Subject to a minimum of £3,500 and a maximum of £100,000.
The payback period is not fixed because it's based on your actual Visa/MasterCard receipts. More will be paid back when takings are high, less when takings are low. The average payback period is around 7 months.
In most cases, finance will be provided within 5- 7 business days of your application being received. You will receive monthly statements and you can check your balance daily.
To qualify for this form of finance, you need to have:
Pretty much anything you want, in our experience most hotels have used the money for :
The main issue to bear in mind that this is SHORT TERM funding, to enable you to get cash quickly. It will be repaid from your credit card takings AUTOMATICALLY over a 6 or 7 month timescale. This is not a long term finance facility.
But, it just might be the difference between success and failure.
Sterling Commercial Finance Limited is a Broker not a Lender.
Sterling Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority.
Sterling Commercial Finance Limited is entered on the FCA Register https://register.fca.org.uk under reference 733615.
The guidance and/or advice contained in this website are subject to the UK regulatory regime and are therefore targeted at consumers based in the UK.
Sterling Commercial Finance Limited is registered in England and Wales No. 3853461.
Sterling Commercial Finance Limited is registered for VAT No. 737604523. We are registered with the ICO Z7480727 and you can check via www.ico.org.uk. We source finance from the whole of market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.
Sterling House, 5 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham NG12 4DG
Tel: 0115 984 9800 Fax: 0115 921 5550
ANY PROPERTY USED AS SECURITY, INCLUDING YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
EARLY REPAYMENT CHARGES APPLY. A BROKER FEE MAY APPLY.