GRID’s Cash Advance Facility is a short-term finance solution that works with your business and its existing credit debit card machine. You can borrow up to €500,000 per facility over a maximum of 12 months. Multiple facilities are available. Repayments are made daily as a small percentage of your future card sales until you have repaid the full amount.
Following draw down of your funds, your repayments will be made daily using a portion of what comes through your credit/debit card machine. Unlike a fixed monthly repayment loan, daily flexible repayments work with the natural ebb and flow of your business, reducing pressure on your cash flow.
*The cost of capital is the lender fee paid to the capital provider of your cash advance loan.
This fee is not annualised. A GRID Fee plus VAT will also be deducted prior to drawdown.
**A 2 month maximum rebate is available.
Cash advance is frequently used for:
- Premises expansion
- Paying off existing debt
- Purchasing equipment
- New website
- Hiring new staff
Benefits of a cash advance include:
- Repayments are made daily
- Flexible repayments
- Security taken on card receipts
- 100% fulfilled by institutional lenders
- Rolling credit facility
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GRID Finance is an Irish owned company transforming banking and financial services in Ireland by providing an online platform of modern financial products which have been redefined and transformed to meet people’s changing financial needs. We are providing access to inexpensive, transparent and uncomplicated financial products and services as well as giving the support and tools for individuals and business owners to enhance their financial wellbeing. Whether it be a loan to grow your business or an investment product to provide for your personal financial future, the GRID is the place to be.