£50,000 Merchant Cash Facility for a Catering Company

Background

This customer established their catering business in 2017 and has been serving the Midlands region with its culinary delights.

Since the end of covid the business has started to rebuild its customer base and has expanded its remit to include corporate events, weddings, and birthdays, as well as supplying a number of local food stores with their products.

As such they recently have found themselves turning away business due to the limited resources and capabilities of their current status. They need to recruit new staff and increase its stock purchasing capabilities.

As a business with regular outgoings such as wages and stock, and the impact of seasonal peaks and troughs, the business required a funding solution which could grow with them.

A merchant cash advance facility was the perfect solution. This type of funding facility enables the business to fund their business based on the revenue generated by their card terminal.

The Solution

The business required the influx of cash quickly and we were able to arrange a finance facility of £50,000 in just two weeks working with the customer and the merchant cash advance lender. The facility put in place is an initial 18 month term with a view for renewal or increasing funding levels as their business expands. The speed by which the funding solution was arranged has enabled them to immediately start their recruitment activity, purchase additional stock and accept every new business opportunity they are now presented with.