Questions You May Have
What is a Merchant Cash Advance?
It is a simple solution to business funding, based on advancing you funds against your future customer credit and debit card payments.
It enables access to between $2,500 and $60,000*, and you pay as your customers pay you. You can use your Merchant Cash Advance for any of your business needs, whether you want to purchase more inventory, upgrade equipment or help with cashflow.
*Subject to status. Eligibility criteria apply.
Who is Liberis?
We’ve chosen to partner with Liberis as they are one of the most innovative providers of Merchant Cash Advances. Liberis is a multi-award winning finance provider, offering simple, flexible and transparent funding to help small businesses achieve their ambitions. Liberis provides finance based on business potential, not just credit history. Through its Merchant Cash Advance, an innovative form of funding, Liberis links payments directly to cash flow so businesses only pay when their customers pay them.
How does it work?
- Apply using our online application form.
- You can select the amount of funding you’d like and how quickly you’d like to pay it back.
- This determines the overall payback amount, and the percentage of your future Worldpay debit and credit card transactions that will go towards payment of the Merchant Cash Advance, which we’ll agree with you upfront.
- Receive the funds in as little as 2 days.
- Your payments will be taken automatically from each of your future card transactions through Worldpay until your Merchant Cash Advance has been paid.
How do I qualify?
If you are a Worldpay customer who accepts cards and takes at least $1k of credit and debit card transactions a month through Worldpay you are eligible to apply. Ideally, your business will have been processing with Worldpay for over 4 months. However, if you have switched to Worldpay from another provider and can provide evidence of at least 4 months’ card takings, then you may also be eligible for a Merchant Cash Advance.
Liberis, the provider of the Merchant Cash Advance, has typically approved over 70% of applications.*
*As of September 2019.
How much could I get?
Liberis can provide eligible customers with anything between $2,500 and $60,000. The actual amount will depend on your average monthly card takings with Worldpay; but typically, Liberis will advance up to 100% of this amount - so if on average you take $10,000 per month via card payments, this is how much you may qualify to be advanced.*
When you apply for a full Merchant Cash Advance, you can select the amount of funding you’d like and how quickly you’d like to pay it back. This in turn determines the overall payback amount and the percentage of your future Worldpay debit and credit card transactions that will go towards payment of the Merchant Cash Advance, which Liberis will agree with you upfront.
* Representative example only. Actual rate may vary based on circumstances.
How much will it cost?
Our Merchant Cash Advance comes with one fixed cost which Liberis will agree with you upfront, so you don’t need to worry about working out APR rates or additional activation or other fees.
No business is the same, so Liberis use information from your business and credit history, and your future business potential to tailor the price to your individual circumstances.