Page 38 - MarketTimesOctober2014
P. 38

  NEWS
Market Times • October 2014
New financing solution
for members
...in time for Christmas
  Chip & PIN Solutions has launched a new financing solution, Merchant Fund, that is now available to all NMTF members.
Merchant Fund is a business cash advance that can provide traders with a cash injection from £2,500 to £500,000.
Unlike traditional financing products, Merchant Fund has said goodbye to standard financing restraints such as required security, penalty charges, late fees and fixed monthly payments.
Typically NMTF members will be able to borrow up to one month’s average card sales.
So, for example, if you take £2,500 in card transactions, your maximum cash advance would be
£2,500. The amount repayable is agreed at the beginning and paid back as a fixed daily percentage of credit and debit card sales.
Chip & PIN Solutions Managing Director David Maisey said: “As a business owner I understand the importance of maintaining a healthy cash flow by having access to the cash needed to help their business grow.”
Because the cash advance is directly linked to a trader’s credit and debit card takings, members will benefit from the certainty that the cash advance is affordable, meaning traders can concentrate on using the cash to grow their business.
With Christmas not far away, Merchant Fund could be perfect
for financing additional stock to make the most of this important trading period. The application process is very quick and in most cases will already be auto- approved for advances up to £15,000.
Whilst standard business financing involves credit checks and assets to secure a loan, Merchant Fund brings a breath of fresh air to the process. There are no credit footprints and no security required to take advantage of this new members’ benefit.
The only requirement to take advantage of this scheme is that market traders accept in the region of £2,500 a month in card sales and have six months of
merchant statements.
For further details about this new
members’ product please call Chip & PIN Solutions directly on 0800 881 8104 or visit www.chipandpinsolutions.com.
Chip & PIN Solutions Managing Director David Maisey
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