Merchant Cash Advance to Petrol Retailer
£300,000 Merchant Cash Advance for Fuel Retailer
Sector: Retail
Solution: Merchant Cash Advance
The Client
A successful fuel operator business, running two very busy petrol stations in different areas of the country. The business uses three different card merchants, taking 95% of their income via debit/credit and fuel card payments.
The Challenge
We were asked to raised £300,000 to assist the next phase of expansion and refurbishment of the current sites on an unsecured basis. We had to liaise with client and lender to ensure all three merchants switched the clients’ accounts at around the same time to avoid any delays in drawdown.
The Solution
A £300,000 Merchant Cash Advance facility was approved very swiftly and within a matter of days, documents were signed, and all three card merchants had authorised the switch over to our lender. Funds were paid two hours after the final merchant confirmation.
Summary
A perfect product fit for the client’s requirements. Funds were very quickly drawn down after documentation was completed resulting in another very happy Liquid Corporate Finance client, who has since recommended two further business to fund.
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