22 July 2021

Synchronised lending helps merchants fund improvements and keep the cash flowing…

Written By Card Industry Professionals

Synchronised lending helps merchants fund improvements and keep the cash flowing…

As the high street once again opens up to customers without restrictions, retailers’ thoughts will soon turn to restocking, upgrading and investing in new staff, fixtures and fittings. 

Now, thanks to CIP Capital, a new partnership between Card Industry Professionals (CIP) and YouLend, CIP merchants can access funding quickly and effortlessly, to help make improvements and keep the cash flowing in their business.

Offers of funding are calculated using a merchant’s previous card transaction history which through anonymized reporting generates pre-qualified amounts that can be passed on to each merchant to consider and have access to. This eliminates the need for complicated forms, endless questions and delays in processing applications. Advances can usually be agreed within 1 – 5 days. 

Repayments are taken directly from a merchants’ card payment transactions at an agreed daily percentage of takings; more on a good day’s trading, and less on quieter days to match the ups and downs of trade within independent merchants. Everything is seamlessly automated in the CIP system to make the process of accessing funding as smooth as possible and there are no set up fees, no late repayment fees or fluctuating interest to be confused over. 

Ciaran Savage, Director at CIP explains:

“Here at CIP our merchants are always our first priority. Everything we do is designed to make their lives easier, provide ongoing support and ensure that their businesses are successful. 

“Many merchants have had a tough time over the past year, particularly during lockdown months, and we know cash flow is always at the forefront of merchants’ minds. We are delighted to introduce CIP Capital through the partnership with YouLend, which means we can offer our merchants an effortless way to raise funds and protect their cash flow without the long application forms and additional fees, interest or penalties encountered with a traditional bank loan.”

Max Shave of YouLend said: 

“Our mission at YouLend is simple, it is to make business funding as accessible as possible to business owners, rather than going through a burdensome task to obtain business funding. Especially in the current economic climate where working capital is the lifeblood of SME’s. 

We are delighted to Partner with CIP to support their customer base to grow and thrive as we navigate out of national restrictions.” 

You can find out more about CIP Capital here!

Up Next ...
30 July 2021

A day in the life: Olga Miler, SmartPurse

This week we caught up with Olga Miler, Co-Founder and ...

30 July 2021

Bud adds subscription management feature 

Bud has developed a new feature for its business customers ...

30 July 2021

Former Klarna execs found BNPL platform Biller 

Former senior managers from Klarna and Mollie have founded a ...

30 July 2021

Paxos raises $40mn from Bank of America, Coinbase 

Blockchain infrastructure business Paxos has added $40mn to its Series ...

More in Payments

Former Klarna execs found BNPL platform Biller 

30 July 2021

Former senior managers from Klarna and Mollie have founded a ...

Swift launches Swift Go for low-value payments 

28 July 2021

Swift is moving into low-value cross-border payments with Swift Go. In ...

Payl8r raises £40mn funding 

28 July 2021

UK buy now, pay later platform Payl8r is set for ...

Santander to expand PagoNxt payments 

27 July 2021

Santander’s payments FinTech PagoNxt is expanding into 30 European countries. In ...

White Papers Payments

Make payment optimization a part of your core payment strategy

27 July 2021

According to the Federal Reserve Bank of San Francisco 62% of purchase transactions in 2018 came in...

Articles Payments

Mobile and digital payments continue upswing

20 July 2021

The way people pay continues to evolve. Still, many people aren't aware of the paymen...

Articles Payments

Central bank digital currencies for cross-border payments

13 July 2021

The G20 has made enhancing cross-border payments a priority and endorsed a comprehensive programme t...

Articles Payments

Payee scams are on the rise

13 May 2021

Payment industry report calls for collaboration to combat the problem, with customer education, tech...

There are no Events in this category