United Kapital, provider of solutions for small and medium-sized business enterprises in the UK, has announced a new £30m credit line to provide more capital to small and medium-sized enterprises (SMEs) through its Merchant Cash Advance programme.
A merchant cash advance is available to any business that accepts payments by debit or credit cards, enabling business owners to leverage these future card transactions to raise much-needed working capital to invest in their business.
"The United Kapital brand has been built on customer testimonials, which speaks volumes in terms of how well it works for business owners and how it works perfectly alongside their business activities and cash-flow fluctuations," said managing director Tony Pegg.
"Over the years we have built up and continued to grow a solid base of customers who we continually help with raising working capital for their business needs. We look forward to continued growth in our business and staff, and accelerating our already increasing support of the SME community, which is truly under-served by the more traditional business lending institutions."