Cashflows to offer flexible, fixed-fee loans to businesses
By Gloria Methri
Cashflows, the platform simplifying payment acceptance for businesses has launched Cashflows Advance – a new service that enables merchants to access frictionless funding without fixed monthly repayments.
Cashflows Advance, created in partnership with Recap, offers merchants a pre-approved cash advance based on historical sales data. This eliminates lengthy application processes and delivers funding to merchants when they need it most.
A fixed percentage of a merchant’s daily sales is taken as repayment, meaning that during slower business periods, repayments are lower.
Hannah Fitzsimons, CEO of Cashflows, said, “Businesses must be able to access the funding they need when they need it, but inflexible repayment plans leave many unable to invest in their own growth. By giving our customers the opportunity to access funding and make repayments directly aligned to their sales figures, we are once again demonstrating our commitment to the growth of small and medium enterprises.”
“At Cashflows, we understand how difficult the current economic landscape is and want to do everything in our power to help merchants continue to thrive. That is why we have partnered with Recap to launch Cashflows Advance, and why we will continue to launch innovative new products that leverage our payments expertise to help British businesses grow.”
Joining Anytime Settlement – an existing Cashflows product that uses payments to help businesses invest in their own growth – Cashflows Advance offers eligible merchants pre-approved funding of up to £150,000 to fuel the growth of their business. There is no interest charged; instead, a transparent one-off fee is charged on top of the advance amount.
The amount owing is paid back by deducting an agreed percentage from daily settlements, making repayment more convenient than ever. There are no hidden costs or fees to worry about, and it is the business owner who decides how the funding will be used, giving them the flexibility, they need to thrive.
Jonathan Field, Managing Director of Recap, said, “We are delighted to unveil our partnership with Cashflows, offering eligible customers truly pre-approved funding at the click of a button. Cashflows Advance removes funding rejection anxiety for merchants and empowers businesses to capitalise on growth opportunities with real-time offers, even when they are presented with a challenging economic environment.”
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