United Kapital, a provider of merchant cash advance solutions for small- and medium-sized businesses in the U.K., announced on Wednesday a $46.6 million credit line that will allow the company to lend more to businesses.
A merchant cash advance is available to a business that accepts debit and credit card payments, allowing business owners to leverage future card transactions to raise working capital to invest in their business.
Over the past five years, United Kapital has seen 100 percent year-over-year growth and has grown to include more than 35 full-time sales staff. The company will also launch a new website in coming months, allowing business owners to apply for a merchant cash advance using a simple online application.
Founded in 2008, the company was one of the first to market merchant cash advances in the U.K. Today, United Kapital is the largest provider in the U.K.
“The United Kapital brand has been built on customer testimonials, which speaks volumes in terms of how well it works for the business owners and how it works perfectly alongside their business activities and cash flow fluctuations,” United Kapital Managing Director Tony Pegg said. “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.”