Business Cash Advance
What is Business Cash Advance?
A means of releasing your average monthly takings as a cash sum which is then repaid via every card transaction taken through the card terminal.
Business Cash Advance
Thanks to business and merchant cash advances, businesses all over the UK are being given the opportunity to grow.
There are many reasons why small businesses often require access to capital: New equipment, refurbishments, hire additional staff or invest in advertising. However, if you’re a small business and your application has been rejected by the bank, you might worry that your company’s success is in jeopardy if you are unable to finance these necessary expenses.
Thankfully, there is an alternative finance source available – a Business Cash Advance from KJM Card Services & our partner lender. But just what is a business cash advance, and why should you come to KJM Card Services to discuss your cash advance options? While we aim to provide the answers to any questions you might have on this page.
KJM Card Services have partnered with the largest lender for Business Cash Advance. With a 5 star customer feedback rating, and with over £300m provided to over 10,000 SME’s, we think we have found the ideal partner.
How does it work:
• The lender – Liberis – takes a ‘split’ from each card transaction until the advance is repaid
• There is a specified amount advanced, and a specified amount to be repaid
• There is no APR
• No interest
• No end date
• The advance is repaid in line with your business flows
Business Cash Advance
If you have a card terminal this is a way of releasing cash. You have quiet times and busy times. The way that this is repaid means that it fits in with your business model exactly.
From Pax, Ingenico, Spire, Epos Now, E-Commerce and Virtual Terminals, KJM Card Services provide every option available to ensure you have the correct option for your business.
KJM send texts to your customers who have opted to receive them and together we will find ways of ensuring that they return much more frequently. Your sales should increase year on year.
KJM can buy today’s rates at today’s prices and lock them in. This means that when your existing contract ends you won’t get hit with a massive price rise. We can forward contract you up to twelve months ahead.
From Pax, Ingenico, Spire, Epos Now, E-Commerce and Virtual Terminals, KJM Card Services provide every option available to ensure you have the correct option for your business
Bring back customers more frequently and increase sales.
KJM Card Services provides a comprehensive text marketing system. The texts are issued with your business name as the header. Sales should increase by more than 20% in year one.
What sort of incentives should be used?
- One restaurant in Edinburgh city uses a weekday incentive – ‘Return with three of your friends on Wednesdays or Thursdays and receive a complimentary bottle of wine for the table’. This incentive proved so popular that the business owner had a record number of opt-ins, and because the customer was receiving a free bottle of wine the owner found that they were buying more wine again for the table. He ended up selling a lot more wine than usual and he is filling seats on quiet days.
- One city centre coffee shop uses a different incentive every time – ‘As a reward for joining Honeycomb & Co reward scheme, please use this text to claim your free scoop of gelato’.
The idea is to get customers to return much more frequently, especially on quieter days.
One multi-outlet restaurant chain in Edinburgh sends a text to all 9,000 customers (who opted in). The text goes out in late December and offers a ‘buy one get one free’ incentive during the entire month of January. The owner of this business knows that they will be quiet in January, so he mitigates this early. His view is that they would rather have 50% of something that 100% of nothing.
Contact us now for a consultation.
We can give you ideas, costs and an idea of your anticipated return. Existing customers of KJM Card Services are offered a free, three month trial period. To qualify you must have used KJM Card Services for your either your card terminals, merchant cash advance or your energy switching.
KJM can buy today’s rates at today’s prices and lock them in. This means that when your existing contract ends you won’t get hit with a massive price rise.
Meet the team…
Keith: He has over 20 years in the financial services sector. He began with the sale of regulated funds and investments to independent financial advisers. Latterly however, his experience has been within the card acquiring and payment processing arena. KJM’s vision is to ensure that small to medium-size business owners benefit from the low costs and charges that larger, multi-outlet business owners benefit from.
With extensive professional experience in the banking and hospitality sectors, Tamling has a full understanding of the need for business owners to reduce costs and increase profitability. Tamling provides individual consultations and ensures that our product is built around your business model. From choosing the best card processing system to increase sales, Tamling will provide clear and concise advice.
A degree educated teacher turned businessman with over 30 years experience of building businesses and driving them forward. Simon’s expertise – also gained within the hospitality sector – means that his knowledge has been forged at the coalface. With this background, Simon has a thorough understanding of the needs of SME’s both in merchant services and business funding.
An all-in-one payments partner
'KJM Card Services have always been very attentive and focused on my business needs and requirements and have always come through for me. I can't recommend them highly enough.' Nicola Bald Photography
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KJM Card Services provides support when doing your PCI Compliance questionnaire. Many customers have been caught out by either failing to complete the questionnaire or completing it incorrectly which usually leads to a ‘Non-Compliance’ charge. We will do it for you to ensure full compliance.
Should your card terminal become faulty, you have a 24hr replacement service.
We provide full training on how to use the card terminal.