You work hard to create business opportunities, but making the most of them takes a ready source of cash. Here’s what you might need it for, and how to get it…
Accept bigger orders
Buying stock for growth
Getting products made offshore
Scaling up for larger orders
It’s tough to be involved in creating and making products. You need the right team and ideas, and then you have to spend money on stock, materials, and manufacturing (be that in-house or off-shored). But you don’t get to see any reward until you’ve delivered the goods and issued an invoice.
This can be a difficult dynamic to manage. The opportunity is there, but you need cash to stock up and deliver to your customers. Sadly, high-street lenders are often too slow and unresponsive to your needs.
InstantAdvance is different
We provide short-term loans specifically developed for companies that design and make products. We understand your needs, and we’re here to help.
We can give you up to 2x your monthly turnover for a fixed fee. There’s no other interest, and repayments are a proportion of your sales, so you pay as you profit instead of being locked into a fixed term. And yes, you can use it for advertising your products or services.
Works for many industries, including
We use data (from your bank and/or accounting system) to offer any business an advance. Unlike a merchant cash advance, you don’t need specific card machines or e-commerce systems.
No lengthy setup process or hidden fees.
When we say we make finances simple, we mean it.
your accounting and banking data
your credit limit with regular auto-updates
cash on demand and it will be in your account the next day
as a proportion of your sales
You are in safe hands
Previse uses data and smart technology to make finance simple for our customers. We pride ourselves on making life easier with:
- Quick and easy applications
- A friendly team that understands small business
- Flexibility that makes finance simple
years supporting SMEs
transactions every day
From the InstantAdvance blog
2021 has been yet another tough year for British businesses of all sizes. As the pandemic continues and the wider economy works to build back better, it is SMEs who are impacted the worst, whilst larger companies are seemingly faring much better.
What you need to get started
To apply you must:
- Be a limited company based in the UK.
- Provide the contact details of someone approved to make your financial decisions.
- Supply your company name as registered at Companies House.
We also require basic details about your business such as your bank statements from the last year. Or you can link your account via Open Banking. It’s up to you.
Frequently asked questions
InstantAdvance offers start at £10,000 and can go up to double your monthly turnover (up to a maximum of £250,000). How much you choose to finance is up to you, subject to assessment and approval. Anything up to £100,000 does not need any form of security.
There is a flat fee that starts from 3% of your InstantAdvance. There are no other administration or interest charges, as long as you keep to the terms of our agreements. This means you know the actual repayment amount before you agree to the advance. Your repayments will change, as they are a proportion of your revenues.
If you wish to apply for an InstantAdvance, your business must:
- be registered in the UK
- have UK resident Directors
Your contract provides the full terms, however, an InstantAdvance typically operates as follows:
- We will work with you to agree on an affordable InstantAdvance size
- We decide your fee (starting from 3%), so you know the exact cost
- We agree on the percentage of your revenue that we will take for repayments. If your revenue goes down, you pay less.
- Your payments and fee are collected via Direct Debit
- We will need regular access to your bank account and management accounts information to calculate the repayments. We prefer to set up an automated data feed to make this as simple for you as possible, but other methods are possible.
Other conditions may be agreed upon with you on a case by case basis.
Should you want a new InstantAdvance at any time, please contact your relationship manager and we can fast track your request (as you’re already set up).
- Apply online, and we will check that you comply with our basic eligibility requirements.
- Connect (or provide information about) your bank accounts and financial accounts to allow us to set your loan limit.
- If you don’t need a loan immediately, apply now and we can provide a limit that is refreshed regularly.
- When you are ready to borrow, sign your contract, direct debit mandate (for repayments), and we’ll do some final checks before typically paying cash into your account next business day.
- We will then begin to collect repayments based on your revenue.
Applying for an InstantAdvance will not impact your business or personal credit score.
Your repayments are linked to your revenues. We typically collect between 5 and 20% as repayment until the full amount and fee have been paid down. Whilst the actual duration of your InstantAdvance will depend on your revenue, there is an upper limit of twelve months for repayment. Should your circumstances change or you wish, you can pay in full at any time.
An InstantAdvance is a single contract that ends when it is fully repaid. There is no auto-renewal, you simply apply for another InstantAdvance.
If you are experiencing financial difficulties, please contact your relationship manager who will be able to provide you with support. They can be reached at email@example.com or by calling +44 20 8158 8638 (lines are open Mon-Fri 9am-5pm, calls charged at the national rate).
The InstantAdvance loan is designed to minimise the risk of you running into arrears. However, please note that if you fall into arrears we may record the details with a credit reference agency, which could damage your business credit rating and may make it more difficult for you to obtain credit in the future.
Failure to make your repayments when they fall due may also result in us taking legal proceedings against you, which may result in an enforcement action to recover the monies that you owe.
InstantAdvances are structured so that your repayments automatically adjust up and down as your revenue changes. You pay less when your revenue reduces and more when your revenue increases.
Normally, InstantAdvances can only run for a maximum of 12 months. If you think you may have trouble repaying within that timeframe, then please contact us on 020 8158 8638 during UK business hours (9 am to 5 pm, Monday to Friday) as soon as possible so we can discuss your options and support you.
Please note that missing payments could lead to your business being put into default, which can affect your credit rating.
In the event that you don’t make payments due in accordance with the terms of your loan, we will contact you to discuss alternative options where reasonable. However, if you do not respond to our requests or we cannot find a mutually acceptable solution, then we may employ third-party agencies to recover the amounts due from you, and in some cases, we may need to take the matter to court for resolution.
Your data is transferred using industry-standard 256-bit TLS encryption technology. Your InstantAdvance Account is hosted within an EU-based data centre, configured with multiple firewalls and network intrusion detection technology. Our business is ISO 27001 certified for data security.
No data will be shared without your consent.
We always strive to give the best possible service to our customers but if you are not happy, please contact the Relationship Team at firstname.lastname@example.org or by calling +44 20 8158 8638 (lines are open Mon-Fri 9am-5pm, calls charged at the national rate).
There is no third-party accreditation required at this time.