Merchant Advance Loans
Merchant Advance Loans
Merchant Advance loans are an alternative form of short term business finance. Merchant advance loans give businesses fast and easy access to working capital. These loans are available to businesses whose primary revenue comes from card sales in person (POS machine) or online. Merchant advance loans are essentially a cash advance. This gives businesses access to a lump sum in return for a proportion of future card sales / receivables. Repayment is on a daily basis as a percentage of daily card sales. These loans are perfect for retail, restaurants, cafes, bars, aesthetic clinics, hair salons e-commerce and more.
Why get a business loan with Santiago SME Finance
Our merchant advance loans are flexible and repayments are based on your revenue. We take seasonal fluctuations into account meaning that when you are earning less, you are paying less.*a minimum daily repayment amount will apply.
We aim to have a credit decision within 24 hours* based on having received a complete application form. From time to time, we may require some more information from you which may delay the decision.
Our merchant advance loans are digital loans. The whole loan process is facilitated online. We streamlined it to make it as easy and short as possible. You can apply for our merchant loans via your computer or phone. The application form will only take you 5 minutes.
We pride ourselves on our fair and affordable business loan rates.
Trusted growth partner
We want to be your go to funding partner, helping your business to reach its potential for all of your funding needs.
The loan pays itself off automatically, no need for manual repayments and no nasty chunks!
Merchant Advance Loans are suitable to
Maintaining a healthy cashflow is very important for SMEs. Many businesses at some point will need a quick cash boost injection. Merchant cash advance loans can offer a fast infusion of capital for SMEs with immediate cash flow needs.
Investment into Marketing
Effective marketing strategies enable SMEs to differentiate themselves from competitors, reach their target audience, and foster long-term customer relationships, ultimately contributing to business growth and profitability.
Upgrading business equipment can contribute to operational efficiency, cost savings, competitiveness, and employee satisfaction, all of which are vital for the success and growth of SMEs.
A quick injection of cash provides opportunities to freshen up the space. Upgrading the premises can enhance the brand image, attract customers, boost employee morale, and support business growth and profitability.
Hiring new staff
A new team brings fresh skills, expertise, and perspectives. This can drive innovation, improve customer service, and tackle new opportunities, ultimately propelling the business forward and supporting sustainable growth.
A business may need a short term loan to provide opportunities for expansion, reach new customer segments, increase visibility, and support business growth in new locations or markets.
How to get a merchant advance loan?
Steps to getting a merchant advance loan with Santiago
1. Register for an account with us
2. Log in and start the application form
3. Fill out some details about you and your business
4. We’ll ask you to upload some relevant documentation and connect to open banking. We use open banking to speed up this process.
5. We’ll review your application and let you know if you have been approved within 24 hours
*depending on whether we have received a complete application and do not require any additional documentation
6. Once approved, you’ll be set up for our flexible loan repayments and then we’ll send you the funds.
What you need to get started
We accept applications from SMES in a variety of industries such as professional services, e-commerce, hospitality, health and wellness, retail, trades, and franchises.
The minimum criteria that we ask for is:
You must generate revenue from credit/debit card or online sales to be eligible for a merchant advance loan
You must be an Irish CRO registered limited company
Minimum 1 year in business
Directors must be over 18 years old
Please accompany your application with:
6 months merchant / bank statements
Tax clearance cert
We use open banking to ensure that this process is as seamless as possible.