Many small to medium sized businesses, particularly in dentistry, have needed extra support regarding cashflow to keep their doors from closing permanently during the pandemic.

Small businesses are increasingly looking to 365 Business Finance for flexible finance to help them, with the average merchant cash advance being slightly higher now than in previous years, at £20,000, up 10% in the last 12 months.

In addition, 365 Business Finance - a London-based lender - has reported that they are now getting more merchant cash advance enquiries from businesses that have already taken government loans via the Bounce Back Loan Scheme (BBLS) and Coronavirus Business Interruption Loan Scheme (CBILS).

With a merchant cash advance, funding between £5,000 and £200,000 is still available even if a business has accessed BBLS or CBILS government support. The benefits include no APRs or fixed monthly payments.

To find out how businesses can survive the pandemic in 2021 with the current range of business funding options available to them, read 365 Business Finance's guide - which examines and compares the government schemes and grants on offer in the UK, as well as detailing how a merchant cash advance is an alternative or additional finance option for dental practices.

https://www.365businessfinance.co.uk/blog/2021/01/12/planning-2021-what-financial-support-available-businesses/