SME Business Loans
Flexible finance designed as an alternative to traditional bank loans.
The Ideal Finance Solution for SMEs
SME loans are loans specifically designed for the individual needs of small and medium enterprises (SME). However, what officially constitutes as an SME in the UK has always been unclear. HMRC, Companies House, and the Department of Business all have different classifications for SME, which has a negative impact when these types of businesses try to source funding, as every bank or lender also has different definitions and criteria for SME finance.
If your company does meet the SME standards of a bank or lender, there are different finance solutions available for your business:
- SME Loans and other Small Business Loans
- Merchant Cash Advance
- Invoice Finance
- Credit Cards
- Overdrafts
It’s obvious that there are many options for SME financing that are worth looking into. Just keep in mind that your perfect SME loan or finance option depends on your business, its current situation, and the goals you’ve set for the future.
One financing solution that is ideal for SMEs is a merchant cash advance, as traditional benchmarks like the number of staff and annual turnover are less relevant to the funding decision.
Do I Qualify?
Qualification for our business cash advances is simple: Contact our customer services team to see if you are eligible.
In business for at least
6 months
Monthly credit and debit card turnover of at least
€10,000
Funding to Help Small Businesses Grow
Securing business finance can be tricky, but here at 365 finance, we can provide your UK SMEs with unsecured funding between €10,000 to €400,000 with no APR, fixed monthly payments or hidden fees. Instead, repayments are based on your monthly credit and debit card earnings, so you only repay when your customers pay you.
Our merchant cash advance serves as a flexible alternative to SME loans and is responsive to the cyclical challenges commonly faced by small businesses in the UK. When sales are up, you will be able to pay off more of your balance. When sales are down, you will be able to repay a smaller amount, causing less strain on your business’ cash flow.
Further advantages of this SME loan alternative include a fast application process, with an acceptance rate of more than 90%, and simple requirements for approval, as you don’t need to submit business plans or collateral to access funds through revenue-based finance.
Request a non-binding offer now. Our merchant cash advance offers a swift and versatile alternative to traditional SME loans and overdrafts.
How Merchant Cash Advance Works
A revenue-based finance solution or ‘merchant cash advance’ is an ideal type of no credit check loan. Instead of relying on your credit score, we assess your business’ recent debit and credit card transactions to determine affordability and produce a funding offer tailored for your business. Get in touch with our team today to receive a tailored quote. The loan application process is quick and easy, and we can give you a funding decision within 24 hours. There is no need for you to provide collateral or business plans, and we only conduct a soft credit check that does not affect your credit score. From this, we’re able to make a funding decision without running a hard check that will show on your credit report. Unlike a traditional bank loan, there are no interest rates or fixed monthly payments to worry about. Instead, repayments are taken from a small percentage of your future debit and credit card payments. We don’t require any APR as there is no fixed fee, just one all-inclusive cost that’s agreed on at the start, which never changes.
Repayments mirror the ups and downs of your business
A business processing €10,000/month in card sales can receive an unsecured cash loan of the same amount, with no interest rates or fixed terms. Repayments are automatic and based on a small percentage of monthly card sales.
How Rev&U™ repayments work
1
Agree fixed percentage
Agree a fixed percentage of your credit and debit card sales to repay the business cash advance (typically between 5% and 15% of your card sales)
2
Make card sales
Sell to your customers on your credit and debit card terminals.
3
Automatic repayments
The pre-agreed percentage is automatically deducted from your daily transactions at point of sale and you will.
4
Get money into your account
This is automated so there is no change to the time it takes for you to receive your money.
5
Daily sales reduce balance outstanding
The daily amount deducted then reduces the balance outstanding on the business cash advance.
6
Collections stop automatically
Collections stop automatically once the cash advance has been repaid in full.
Am I eligible for a Rev&U™ cash advance?
Has your business been trading for a minimum of 6 months?
Does your business’ monthly credit and debit card sales exceed €10,000?
You’re eligible
Get a quoteYou must take at least €10,000 per month in card sales and have been trading for at least 6 months
Request a callbackHow much capital does your business need?
Use our calculator and see how Rev&UTM could help your business.
€60,000
funding received
€100
for every card transaction
85% = €85
goes to your account
15% = €15
goes to 365 finance
A simple and secure way to finance your business
Apply in minutes
Complete the application form. It takes less than 5 minutes!
Relationship manager
Be allocated a relationship manager to assist with any queries.
Approval under 24h
A decision will be made under 24h.
Get your cash advance in days
Funding directly into your business bank account within days
