365 Business Finance Loans Review

365 Business Finance is a business loan provider in the UK . It offers unsecured cash advances to businesses with poor credit score in UK. They lend to large, medium and small enterprises and also online businesses. Repaying the loan is convenient since customers can pay it back little by little through customer card transactions.

Quick Facts About 365 Business Finance

  • Ideal business funding option for businesses with bad credit score in the UK. The loan will not affect your credit score.
  • 365 Business Finance does not charge APRs, interest rates, or late fees. It charges a percentage, typically between 5% and 17% of credit card or debit card transactions.
  • You can qualify for business funding of between £5,000 and £200,000.
  • No business plans or security needed.

Eligibility Requirements for 365 Business Finance Cash Advance

To qualify for 365 Business Finance funding, your business must have:

  • Been trading for at least 6 months
  • Have a monthly credit and debit card sales of at least £5,000
  • Your business needs to be transacting with a credit or debit card terminal
  • Your business should be based within the UK

How to Apply for 365 Business Finance

To apply for 365 Business Finance, you can make an application through their website or call them through 0207 1000 365. 90% of applicants are approved to get 365 Business Finance loans. These loans don’t have fixed rates and instead, you will repay the loan as a percentage of your business’s card transactions.

Merchant Cash Advance

Merchant Cash Advance is unsecured business finance that allows businesses to get £5,000 to £200,000 for business funding. For this kind of funding, there are no interest rates for loans advanced, and instead, repayments are deducted from debit card and credit card payments by your customers. It is a great way to repay the loan since when your business is not having adequate transactions, you pay less. Merchant Cash advance is ideal for businesses that process payments through an online payment system or a card machine.

How Cash Advance Works

To apply for a Cash Advance with 365 Business Finance, you just need to visit their website. Then click “Get a Quote”. You will be given a relationship manager that will guide you through the process of applying for the loan. You will have to agree to a repayment percentage on your debit or credit transactions. The percentage you agree to be deducted will be automatically be deducted from debit or credit card sales. Then, the remaining percentage will be deposited into your business account. The deductions will reduce your outstanding balance. The deductions will then stop when you have repaid the loan in full. 365 Business Finance does not charge APRs, late fees, or interest charges.

365 Business Finance Fees

The cost of the 365 Business Finance loan will depend on factors like your business creditworthiness, the amount you apply for, how your business is performing and the percentage of your card sales you agree to repay. Unlike many other business lenders, 365 Business Finance does not charge interest rates. It charges a percentage of your credit card or debit card sales. Normally, the percentage is usually between 5% and 17% of credit or debit card transactions.

Features of 365 Business Finance Cash Advance

  • Cash advance. You can get a cash advance of between 5,000 and 200,000. The size of the loan you can qualify for depends on the creditworthiness and profitability of your business.
  • Unsecured loans. You don’t need to provide an asset to secure your business loan.
  • Repay a percentage of your sales. You get to repay a percentage of between 5% and 17% of your debit card or credit card sales.
  • Simple and fast approval. Once you have applied for the loan, you will get a decision in 24 hours and funds can be deposited into your account within 48 hours. 365 Business Finance has a 90% approval rate.

365 Business Finance Alternatives

You can use the following services as an alternative to 365 Business Funding.

Conclusion on 365 Business Finance Loans

Whether you are looking for funds for starting a business or to boost your business, 365 Business Finance can help you a lot to boost your business. It will help you get a quick loan very fast. It is easy and straightforward to apply for a business loan with 365 Business Finance. You will be allocated a relationship manager to help you apply for the loan.

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