MyCashLine

Who is MyCashLine?

MyCashLine, established in 2018, aims to provide a refreshing alternative to traditional business loans. They specialise in flexible and unsecured financing options tailored to the needs of small businesses.

What financial products does MyCashLine Offer?

MyCashLine offers three types of business loans, here’s a summary of each:

Small business loans

MyCashLine’s small business loans are designed to provide flexible financing without the burden of early repayment fees or charges. They offer unsecured loans ranging from £5,000 to £100,000, with terms spanning from 1 to 24 months. These loans can be used for a variety of purposes, including:

• Evening out cash flow

• Funding expansion plans

• Seizing new business opportunities

• Bridging funding gaps

• Investing in new technology or systems

• Enhancing marketing efforts

Merchant cash advance

For quick and flexible finance, MyCashLine’s merchant cash advance might be the perfect fit. This option offers several key benefits:

• Funding available in as little as 48 hours

• Approval not based on collateral or business credit score

• Flexible repayment terms

• Repayments are made as a percentage of daily credit card sales, providing a repayment structure that aligns with the business’s income. During busy periods, businesses repay more, and during slower times, less.

Short term business loans

For fast and flexible access to short term finance, MyCashLine’s short-term business loans are a great choice. They can arrange loans from £5,000 to £100,000 in as little as 4 hours, helping businesses achieve their ambitions without delay. Their terms range from 1 month up to a maximum of 24 months with no early repayment fees.  

Cash flow business loans

MyCashLine’s cash flow business loans are designed to keep businesses thriving by providing quick access to the funding needed. These loans are tailored to meet specific needs, ensuring continued success and stability.

What do you need to be eligible to apply for a loan with MyCashLine?

To be eligible for a loan with MyCashLine, you’ll need

• At least 12 months of trading history

• Be a limited company in the UK

• A turnover of at least £15,000 per month

• A good business credit score

You’ll also need to provide the following documents as a part of your application:

• Your latest filed accounts

• Your business’s last 3 months of bank statements

• A passport or driver’s licence

How much could you borrow with MyCashLine?

MyCashLine loans range between £5,000 up to £100,000. The amount your business can borrow is influenced by various factors such as your business credit score and revenue. To get an estimate of your borrowing capacity, you can use our Business Loan Calculator. This will help you gauge how much your business can afford to borrow by giving you an estimate of your monthly repayments. 

Pro tip: Keeping a good business credit score improves your chances of loan approval and obtaining favourable interest rates. Regularly checking and reviewing your business credit score can significantly boost your chances of a successful loan application.