fast funding for small businesses with simplypay business funding
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grow your business with flexible business funding!
what is simplypay business funding?
Simplypay Business Funding is what is known as a ‘Merchant Cash Advance’, which is an alternative finance model with much faster funding decisions than the banks. Rather than waiting 60 days for a traditional bank to extend a new loan, the entire application process takes up to 72 hours and provides fast access to a cash injection with repayment options that match the earning power of your business.
Traditional bank loan
Merchant cash advance
this is not like a traditional bank loan
If you get funding, repayment will begin via your card machine or e-commerce website. When a customer pays you on a card, a flat percentage of that transaction is used to repay the advance. This percentage stays the same – regardless of the transaction value, so you’ll always repay proportionately to your earnings.
You won’t be tied in to fixed monthly repayments and your physical cash intake will remain unaffected. Typically, a cash advance takes around 9 months to repay and there’s no compounding interest.