Targeting smaller retailers with new credit facility product
Targeting smaller retailers with new credit facility product
United Kapital has recently revealed a new product for small-to-midsized enterprise (SMEs) and independent retailers in the UK who accept credit and debit card payments from customers, called Business Cash Advance.
Offering an innovative way for SMEs and independent retailers to access working capital through their electronic point-of-sale (EPoS) or static platforms, United Kapital is a financial services business that said it can help small businesses realise their expansion and development aspirations and plans.
By looking at an asset that retailers may not even realise they have – future credit card and debit card sales from customers – United Kapital can offer funds of up to £150,000. The new service is applicable to retailers that operate and process monthly sums of at least £3,500 in credit and debit card sales from customers.
Advance access to funds
United Kapital’s Advance provides a lump sum of money to retailers to invest in their business. Introducing a dedicated card payment system in-store, United Kapital receives repayments from the retailer through a fixed percentage from future credit card and debit card sales.
Tony Pegg, founder and managing director of United Kapital, said: “We have undergone two years of extensive research and are now in the ideal position to reveal United Kapital’s Business Cash Advance to the UK market.
“Challenging traditional business banking methods, and specifically targeting SMEs and retailers, we have designed a dedicated card payment system that can easily be installed instore, from which the United Kapital advance is repaid.
“In keeping with the latest EPoS systems, we are also in talks with a number of EPoS providers with a view to creating a button on the system that introduces United Kapital’s Business Cash Advance as an option. By doing so, retailers can request working capital for expansion and development direct to United Kapital from its EPoS system.”
Integrated to EPoS system
Simple and straightforward, United Kapital can raise funding in 10 days, with retailers typically repaying the advance in six to nine months.
Unlike many others financial products, the advance is not a loan and does not rely on credit scores or personal guarantees. It is an unsecured financial product based on United Kapital purchasing a fixed amount of future credit card and debit card sales from businesses at a discount. Repayments are flexible and work alongside the ebb and flow of the business.
In the current economic climate, where SMEs and independent retailers have found it difficult to obtain working capital to grow and expand their businesses, the launch of United Kapital said its Business Cash Advance product has come at an opportune time.
