Apply now

What can you use Merchant Cash Advance for?

Published on 5th July 2017 - Last update on 17th March 2020

For many businesses, a Merchant Cash Advance can often deliver a much-needed lifeline. Versatile and far-reaching, this means of business finance is unique in its flexibility and ability to support key areas of your business with ease. However, with so much scope and potential on offer, it can be a challenge knowing where to start. As such, to help get you started we at Rangewell are offering you our 5 top suggestions for making the most of Merchant Cash Advance.

What can you use Merchant Cash Advance for?

Merchant Cash Advance solutions are an excellent way of supporting your business, much like a traditional business loan but with none of its constraints. But, as well as the product’s flexibility, what makes this particular finance solution differ from the rest is the speed in which it can be applied and put to use. From the moment an application is submitted to a potential lender, the time it takes for a decision and for funds to be transferred is often within the space of 48 hours. As such, this makes Merchant Cash Advance one of the fastest finance products in the business finance market. But as for its use, well the answer really lies with the scope of your imagination and steadfast determination for success. Nonetheless here are 5 ways to support and improve your business with a fully customisable Merchant Cash Advance solution.

1. Emergency aid

Throughout the course of our business’ operational life, we will encounter any number of challenges to our survival and long-term success. Sometimes obstacles can arrive from external factor whilst, other times, they can originate from within. However, there can also be situations that befall our business that aren’t anybody’s fault but affect us all the same. For example, what would you do if your business fell victim to vandalism, a burst gas pipe, flash flooding or unexpected tax bill? Of course, you could turn to friends, family and your insurer, but that money will take time to procure. This is exactly where Merchant Cash Advance can prove its worth, granting you access to the funds you desperately need, often within 48 hours of applying, straight to your business’ current account. A fast response precisely when you need it most.

2. Subsidising seasonal trade fluctuations

With many UK based businesses, there will be times when we experience seasonal trading highs and lows. It is something we must come to accept and brace ourselves for, but sometimes the strain piled upon business finances can become too much to bear. However, with the support of a Merchant Cash Advance you use the lump sum acquired to subsidise seasonal trade fluctuations, by using this solution to carry and support your business until you reach a stronger trading period, saving you from causing undue damage to your business’ capital.

3. Supporting new or existing business projects

Whether it’s improving your IT, adding extensions to your premises or carrying out refurbishments, sometimes projects can run into unforeseen difficulty. Perhaps a certain task is taking longer than expected, essential materials are slow to arrive or are weather conditions delaying progress? Regardless of what the cause may be, we’re still having to pay bills, staff wages, the cost of equipment and so on. With essential funds trickling away, there may be a real possibility of not seeing the concerned project through to the end. Again, this where Merchant Cash Advance can come into play and rapidly offer your business project the boost it sorely needs to ensure success.

4. Hiring Professional Services

A Merchant Cash Advance is also a great way of acquiring the funds necessary to obtain outside expertise. More and more businesses are, on occasion, choosing to procure the expertise of professional marketing agencies, IT technicians, online security experts and freelancers when the skills and expertise aren’t already present within their business team. With the help of a Merchant Cash Advance solution, you can use the funds transferred into your account to help pay fees, wages and contractual obligations.

5. Purchasing Assets

Another emergency that our businesses may face could involve the procurement of essential business assets. Of course, you could turn to a hire purchase solution, but what happens if you require the asset at short notice? Perhaps you need to replace an existing asset? Maybe you need quick cash to acquire an asset you may not have realised was essential for an upcoming business opportunity? Whatever it may be, a Merchant Cash Advance solution offers you the funds you need to quickly repair, replace or secure assets for your business, without the usual constraints posed by other finance products.

Our values are simple – We’re on your side.

At Rangewell, our services are clear and transparent. We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.

Share this article

Discover your range of finance. Every type of finance for every type of business.

Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.

Find Funding
David Harrison

David Harrison

Content writer
By using our services, you agree to Rangewell's Cookies Policy.