The Merchant Cash Advance specialist is funding over £200,000 a week with the average transaction size of £20,000 per customer.
Latest figures show that the UK currently boasts around one million micro businesses, firms with an annual turnover of less than £2.5 million, but most would not fit the funding requirements of typical alternative lenders.
“We provide funding in as little as five days, which is a lot quicker and more flexible than traditional loan options”, said Richard Morley, Director of European Development at Liquid Finance.
“Micro businesses are integral to the future prosperity of the UK economy and it is vital that these businesses have access to the necessary funding they require, in order to grow and prosper.
“Our approach to funding means it is in our interest for micro businesses to succeed and prosper.”
One micro business that has benefited from Liquid Finance’s cash advance is The Stags Head owned by licensee Robert Willoughby who remarked: “I really like the concept of the Liquid Finance cash advance and it suited my needs very well.
“You get a cash lump sum to help your business grow and then you pay it back through a percentage of your card takings.
“They don’t take too big a bite, if you only process £50 through your card machine, then they only take a percentage of the total,” Robert explained.
“The advance helped us get through a difficult patch and also upgrade in crucial areas such as signage, in the kitchen, toilets and bedrooms.”
Over the past two years, Liquid Finance has seen rapid progression, growing to 34 staff across two locations (Fetcham & Cambridge).
The company is about to move into new premises in Epsom in May and has also launched its new website this week: www.liquidfinance.co.uk.
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