Two words can keep any small business owner awake at night: cash flow.
With recent circumstances adding to the financial strain, growing your business to the level you desire can often feel like a pipe dream.
It might just be that a cash injection is all that’s needed to reduce your cash flow issues and fuel your progress.
However, while our research earlier this year showed 72% of UK small businesses have seen a rise in overall revenue compared to just 46% in April 2021, many have faced hurdles to secure the financing they need to grow.
Here at Elavon, we want to support your aspirations. That’s why we’ve partnered with Liberis1 to offer a simple funding solution designed around the needs of your small business.
Introducing business finance from Elavon.
What is business finance?
Effectively, it’s a cash advance to help you unlock your business potential. Eligible business owners are given a minimum of £2,500 up to £300,0002 to inject into their business how they see fit. Perhaps it’s to buy new stock? Or to hire new staff? Maybe refurbish your premises?
We don’t need to see your business plan, and the application process is simple and fast. You can be approved and have the money in your account in just a few days4.
How does it work?
Once you’re approved, you only have to pay back the advance when you transact on cards3. You pay in line with your cashflow as a percentage of your card takings3.
There are no fixed monthly fees. In busy periods you’ll pay more, and in slower periods you’ll pay less – perfectly in line with your cash flow.
You’ll also have access to a portal to view your statements and monitor your balance whenever you need to.
What are the fees?
The cost of finance depends on your circumstances and business needs. We will agree an offer up front that works for you. There is just one cost of finance, no hidden fees or creeping costs3. Ever.
And that’s it!
Is my business suitable, and eligible?
Except for small businesses operating in a select number of industries, such as financial services and real estate, yours will be eligible if it meets the following requirements:
You accept card or online payments
You’re a current Elavon customer and have been transacting with us for at least four months
You meet a minimum of 10 transactions and a value of £1,000 per month
You’re trading in an eligible industry sector (exclusion list includes financial services, travel agents, estate agents, booking agents, charities, social services, government services, insurance sales and underwriting, car sales, schools and NFP Companies)
You have an immediate need for funds
If you’re unsure, talk to one of our specialists before you apply.
Who is Liberis?
Liberis is a fintech company active in seven countries across three different continents, and has provided more than $700 million in funding to more than 17,000 businesses to date. We’re pleased to continue our partnership first established as part of our Opayo brand, then Sage Pay, in 2018.