Swiftfund Finance

Promising easy access to working capital, Swiftfund is a specialist in Merchant Cash Advances. See if this lender is suitable for you in this independent overview by Rangewell. 

Swiftfund is an alternative finance provider offering merchant cash advances to businesses across the UK. With credit ranging from £5000 to £250,000, Swiftfund may be the ideal solution to your cashflow challenges. However, as with all lenders, it pays to know as much as you can before you apply.

Here at Rangewell, we’re experts in finance and have worked with every UK lender. We’re lucky enough to have great relationships with each and can therefore help match borrowers to the best lender for them without any cost on our part. 

If you’re interested in a Swiftfund loan, you’ve already applied in the past, or you’re just looking for cashflow loan options, you’re in the right place. Read on to learn more about Swiftfund and its offer or click the banner below to contact our team, and we’ll help you make sense of the available options and help you successfully finance your business.

What is Swiftfund? 

Swiftfund is a merchant cash advance specialist, offering loans from £5000 to £250,000. The entire business is focused on offering fast and efficient finance, with decisions made quickly and funds issued within 24-48 hours. 

Headquartered in Cheshire, the lender also offers services under the ‘Bizlend’ name. 

 

What types of loans does Swiftfund offer?

Swiftfund provides working capital loans through a merchant cash advance – which is when you’ll be issued a lump sum and then make repayments as a percentage of your sales taken through card payments. 

Loans come with limits between £5000 and £250,000, with your rates dependent on business performance and creditworthiness. 

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Are you eligible for a loan from Swiftfund?

As with most forms of finance, lenders will only provide credit to the businesses they deem suitable for their product. Swiftfund is no exception, and to be eligible for a merchant cash advance, you’ll need to meet their team’s criteria: 

• You’ll need to have a business turnover of £20,000 per month.
• Your business must have been operating for at least six months, with bank statements covering this length of time at a minimum.

Having a bad credit score won’t prevent you from getting a loan offer from Swiftfund, though your rates may be affected. 

What information do you need to provide? 

As with all lenders, you’ll need to provide certain information about yourself and your business before taking on a Swiftfund loan. The lender keeps things relatively simple, asking for basic information about your business during the initial application. 

However, you will also need to submit some core information, such as a copy of your ID and copies of six months’ worth of bank statements. 

Due to the unsecured nature of a merchant cash advance, the lender will request a personal guarantee from a Shareholder. If you have poor personal credit, you won’t be able to sign a personal guarantee, so be aware of this before applying. 

What are the rates and terms? 

Swiftfund offers advances with terms between three and 12 months, making them an ideal solution for short-term cash injections. Unlike many other loan agreements, however, no interest rate is applied to your credit. Instead, the lender will decide on a fixed fee charged on top of the advance, so pay close attention to your offer before accepting. 

Want different rates or terms? 

If a merchant cash advance doesn’t suit your requirements, choosing a longer-term business loan across more than a year can help you borrow larger sums and keep repayments manageable. Speak to our team today if you’d like to take out a different type of loan. 

What are the fees and charges?

The fees in Swiftfund’s credit agreement are fixed from the beginning of the advance – they’ll simply charge a fixed fee on top of the credit. There’s no fee for topping up your advance once you’ve paid off a certain amount if you’d like to increase your credit in future. 

How do I apply?

Applications can be completed on the Swiftfund website, with the whole process taking minutes. All you’ll need to do is fill out some basic information about you and your business, and the lender will then request any documents its team requires. 

Following this application, you should receive a decision quickly – the lender can then issue funds within days, making it a great choice for plugging cashflow gaps quickly. 

What if you are rejected by Swiftfund? 

If you’ve been turned down for an advance by Swiftfund, there are plenty of options still available to you. Your business may fall short of some key expectations from the lender, so it may just be a case of identifying why you were rejected, fixing your credit rating and applying again in future – or you can simply look to a different lender and alternative style of financing such as a business loan. 

In either case, speak to Rangewell if you’ve been rejected. We can help you understand why and show you which options are best for your business and financial future. 

What to do if your Swiftfund loan is coming to an end

You can take out a new advance with Swiftfund once you’ve paid off your last one, or you may be able to top it up as you progress through repayments. However, if your loan is coming to an end and you’ve yet to agree on an extension, speak to Rangewell first and see how we can help you maximise the value of your next loan – whether that’s with Swiftfund again or a new lender. 

Need more funding? 

Merchant cash advances tend to have a fairly low credit limit. Swiftfund’s £250,000 cap may not be suitable if you have higher capital requirements – so reach out to Rangewell today and see how we can help you arrange loans into the millions of pounds.