Advance
Money made available ahead of expected income, repaid from future takings.
A business can see the amount it qualifies for, the cost, the repayment schedule and how long approval takes before applying.
Repayments are taken from takings as they arrive, so there is no fixed date to miss.
Also called: business loan, cash advance, working capital.
More in Business
- Zero-fee paymentsAccepting payments with no card processing fee during the introductory period.
- Scan & GoScanning items yourself as you shop, then paying from your phone without joining a queue.
- Exit checkThe quick door check that confirms a self-scanned basket was paid.
- Merchant accountThe set of tools for accepting payments, included with every gFinOS account.
- TerminalThe device or phone a business uses to take a payment in person.
- InvoiceA request for payment with a due date, sent to a customer to pay in one tap.