Hotel and restaurant owners are being offered a new type of short-term cash advance based on their future sales.
The new service has been launched by Ashley Retail Finance and it offers businesses in the sector cash advances ranging from ?3,500 up to ?25,000.
What makes this package unique is that the finance is paid back via credit and debit card sales made using the businesses? PDQ terminal.
Businesses are given a lump sum based on their future sales. This is then paid back ? typically over a 6-month period ? through credit and debit card sales made using the PDQ terminal. The service is available to businesses in England and Wales.
Colin Samuels of Ashley Commercial says: ?We know ? despite what the government says ? businesses in the sector are finding bank loans hard to come by and, even when they agree to lend money, they often come with unworkable caveats.
?This sort of finance package can help with everything from short term cashflow difficulties through to new signage for the business.
?Ashley Retail Finance is different because for qualifying restaurants, pubs and hotels the cash advance can be used for any business need. From a refurbishment, marketing activity or purchasing stock, through to paying a tax bill, wages or even buying out a partner.
?Ours is a very flexible offer with a simple application process. It?s a short-term advance based on the business?s PDQ records. If a business qualifies we supply the funds in 48 hours.?
Under the terms of the offer there are no fixed monthly payments, no early settlement fee and no risk to the business?s assets.
Ashley Commercial Finance Limited is part of the Ultimate Finance Group plc. It has been providing finance services for all types of businesses since 1994.
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