By Claire West
Business cash advance provider BoostCapital.co.uk has launched a £10 million fund to support the growth ambitions of retailers, hoteliers and restaurateurs in the South East.
As many small businesses continue to find it difficult to access finance from traditional sources, Boost Capital’s targeted strategy will enable the business cash advance provider to further develop its hands-on client relationships on a local level.
The fund will support businesses in a variety of sectors, including hospitality, salon and spa, restaurant and pub, garage, dental and independent retailers and provide an affordable alternative to bank lending.
David Abbott, Managing Director of Boost Capital, said: “SMEs and their advisers in the South East are in need of suitably-priced funding. We will work closely with our clients and their advisers in multiple sectors to raise awareness throughout these industries that there are other lending options out there.
“By establishing this fund, we have a great opportunity to make a real difference to many sectors in the South East by supplying SMEs with cash injections that can be used for any business expense, from renovations to acquisitions.”
Boost Capital enables businesses to use future credit card sales to access the unsecured funding that they may need to invest in new equipment, stock, marketing, staff or expansion.
Business owners who accept credit and debit cards as a form of payment can qualify for £5,000 to £500,000 in 24 hours and can receive funds in five to ten days.