PDQ cash advance is a short-term unsecured business funding product. Its name derives from a PDQ Card Payment Machine, this is where repayments for the PDQ cash advance are taken from at source. The repayments for the advance are charged at a percentage split. This is usually about 7% of each transaction goes towards repaying the unsecured cash advance. Some businesses, like the hospitality industry have the seasonal cash flow this funding product is a perfect fit. It is suitable for businesses which take a percentage of their sales via card terminals .
If your business takes card payments and needs an unsecured business funding, then a business cash advance may be the right solution. It works in a similar way to a business loan but with flexible, instead of fixed, monthly repayments.
The cash advance is normally paid back within a twelve to eighteen month period, but you may apply for a top up cash advance in month four.
To qualify for a PDQ Card Terminal Loan, you generally only need to have been trading for 6 months. Ideally the business needs to take £5,000 or over in credit and debit card payments. If your business done not meet that criteria, don’t worry! We may still have funding options available to you.
With a PDQ Card Terminal Loan, the lender works with the card payment terminal provider so they have an understanding of how much cash is being processed through your business. That means that unlike other types of borrowing, there’s no need for credit checks.
Repayments are automatic and calculated as a pre-agreed percentage of a company’s future credit card & debit card takings. You only have to pay back the cash advance and fee when the sales come in.
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