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!
