Does your small business accept Stripe payments? Supercharge your growth with a Merchant Cash Advance and repay against your future Stripe card transactions.
- Get funding in as little as 48 hours
A Merchant Cash Advance, also known as a business cash advance, offers swift and flexible access to funding.
If your small business uses Stripe to process debit and credit transactions, you can leverage your future expected card revenue through Stripe to secure funding.
Unlike conventional business loans, eligibility for a Merchant Cash Advance relies on your business's transaction history and anticipated revenues through a card processor like Stripe, rather than solely on credit scores or collateral.
mycashline Merchant Cash Advance example:
Imagine your business needs £20,000 for an upgrade.
After reviewing your credit card transactions, a provider offers this amount with a factor rate of 1.20, resulting in a total repayment of £24,000. If you agreed to return 10% of daily card sales and make £1,000 daily in card transactions, you'd automatically repay £100 daily.
The advance gets fully paid back in approximately 240 days, given consistent sales.
The funds can be utilsed to bolster various aspects of your business, from optimising cash flow and supporting daily operations to fueling expansion initiatives.
By paying back your Merchant Cash Advance through Stripe, you gain the flexibility and agility necessary to thrive in today's dynamic business landscape. Here are ways Stripe customers use a mycashline Merchant Cash Advance:
Inventory purchases
Equipment upgrades
Expansion projects
Boost online marketing
Cash flow gaps
You only need a minimum of six months of transaction history through Stripe, with a monthly volume of at least £10,000 to qualify for up to £100,000.
Additionally, you need to process at least 10 card transactions a month through Stripe.
Even if you use Stripe alongside another card processor, you can still get a Merchant Cash Advance with mycashline. We look at your total number of monthly card transactions.
A finance option like a Merchant Cash Advance, which takes a proportion of your daily Stripe card transactions, might be the best option for your business. Especially if your income varies throughout the month.
However, if your income is through other forms of payments such as bank transfers you might want to consider other finance options. This is because the amount you can borrow with a Merchant Cash Advance will be based on just the value of your card transactions, through Stripe or other payment processors. You may also prefer to pay fixed monthly repayments.
The good news is that we offer access to unsecured business loans too.
Stripe is a payment service provider designed to facilitate the acceptance of various forms of payment by merchants. Its primary offering, Stripe Payments, caters particularly well to businesses heavily engaged in online sales, offering a range of features tailored to this domain.
Stripe supports payments from Visa, Mastercard, American Express, Discover, JCB, Diners Club, China UnionPay, and debit cards. Additionally, it accommodates payments from mobile wallets and buy now, pay later services, across multiple currencies. For in-person transactions, Stripe Terminal provides a point-of-sale solution.
Stripe payment processing involves several steps:
Overall, Stripe's system ensures secure and efficient payment processing for businesses and customers.
To start accepting payments via Stripe, users must follow three steps: create a Stripe account, provide business details including address and legal structure, and link a bank account for receiving payouts. However, initial payouts are subject to a waiting period, typically seven days after the first payment, or up to 14 days in certain industries.
mycashline is not associated with Stripe, we offer small businesses access to Merchant Cash Advances for Stipe Merchants.