The best business advice, opinion, news and expertise in Greater Manchester and further afield.

Thursday, 20 November 2014

Member Blog: Alternative Finance – A hassle-free way to help SMEs flourish

By Tony Pegg, Managing Director at United Kapital

Alternative finance is a great way for small business owners to quickly obtain the finance they need, without fear of a high rejection rate. United Kapital’s innovative financial product, the Merchant Cash Advance, works as a flexible alternative to a traditional bank loan. It is an innovative method which enables business owners to carry out all of their plans straight away. It is a hassle-free system which is helping the SME economy to once again flourish.
United Kapital will offer a customer finance after looking at their monthly sales volume, taken through their credit and debit card machine. The merchant can raise up to 70% of that figure to grow their business. This works particularly well for the retail and hospitality industry, the card spend within these business types are typically very high. Generally companies within this industry need finance to keep their stock ‘on trend’ and modify their interior through refurbishment.

The repayment of a Merchant Cash Advance is extremely easy. It is completed through the credit and debit card sales a business acquires. A small pre-agreed percentage is taken every evening until the money is paid back. Many merchants love this innovative idea because the money is automatically withdrawn at the end of their working day, so they don’t have to struggle to save each month. It works alongside their business activity meaning if they have a slow day they payback less and if they have a busy day more is repaid.
Like many small local businesses, United Kapital has grown incredibly since its start-up, and for this reason it is the passion of each employee to help other SMEs do the same. The account managers have a keen interest in each business they deal with, and love to discover how the Merchant Cash Advance has had a positive and profitable impact.

Since launching into the financial market, United Kapital has grown year on year as business owners have become more aware of alternative lending options and their numerous benefits. The office, based in Altrincham, has a thriving sales team who offer exceptional customer service and one to one guidance. Their aim is to discover the individual needs of each customer, and support them through the process of acquiring a cash injection. United Kapital’s knowledgeable marketing team are responsible for creating educational pieces, to make the SME industry aware that this product is readily available. There is also a sales support team who oversee the process of obtaining an advance and ensure everything is completed in a timely manner. United Kapital’s Merchant Cash Advance is at the forefront of the alternative finance industry, and they pride themselves on their impeccable service, from building relationships with customers to ensuring money is swiftly transferred. The company has extremely good customer satisfaction, with over 90% of the clients stating they have found the service to be pleasing.
Over the years, United Kapital have lent millions of pounds to SMEs and independent retailers. They say it is rewarding knowing that the owners of these enterprises are able to thrive and elevate their businesses success using funding by United Kapital.

United Kapital is a Manchester based business which has offered finance to SMEs across the UK since its creation in October 2008.


 

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