Merchandise Loans Terms

1. Introduction

Welcome to FasterLoans UK. By accessing or using our merchandise loan services, you agree to comply with and be bound by the following terms and conditions. Please review them carefully before applying for a loan. If you do not agree to these terms, you should not use our website or services.

2. Eligibility

To be eligible to apply for a merchandise loan through FasterLoans UK, you must:

• Be a registered business in the United Kingdom.
• Have an active card payment processing system.
• Be at least 18 years old.
• Hold a valid UK driving license.
• Have a consistent history of card transactions in your business.

3. Merchandise Loan Offer

FasterLoans UK offers merchandise loans based on your business’s monthly card transaction volume. The key details of our merchandise loan offer are as follows:

• Loan Amount: You can borrow up to 90% of your average monthly card transaction volume. For example, if your monthly transactions amount to GBP 20,000, you may qualify for a loan of up to GBP 18,000.
• Interest Rate: A fixed interest rate of 11% applies to all merchandise loans.
• Loan Term: Flexible repayment terms, usually aligned with your monthly transaction cycle.
• Repayment Method: Repayments are typically made as a percentage of daily card transactions until the loan is fully repaid.

4. Loan Utilization

The merchandise loan can be used for any legitimate business-related purpose, including but not limited to:

• Purchasing new inventory.
• Expanding product lines.
• Covering operational expenses.
• Upgrading business equipment.

5. Application Process

To apply for a merchandise loan, you must provide the following documents and information:

• Driving License: Clear pictures of both the front and back of your UK driving license.
• Bank Statements: Bank statements for the last three months in PDF format.
• Merchandise Account Details: UberEats, JustEat, Deliveroo, or the Card Machine currently using for processing payments.

FasterLoans UK reserves the right to request additional documentation or information if needed to assess the loan application.

6. Loan Repayment

Repayment terms for merchandise loans are based on your daily card transactions. A fixed interest rate of 11% will be applied to the loan amount, and a percentage of each card transaction will be automatically deducted until the loan is fully repaid. The repayment schedule and percentage will be detailed in the loan agreement.

Failure to make repayments may result in additional fees, penalties, or legal action.

7. Termination and Breach

FasterLoans UK reserves the right to terminate or modify the loan agreement if the borrower breaches any of the terms and conditions outlined in this document or in the loan agreement. In case of a breach, legal action may be taken to recover the loan amount.

8. Privacy and Data Protection

We are committed to protecting your privacy. All personal and business information collected during the loan application process will be handled in accordance with our Privacy Policy, which is available on our website.

9. Liability

FasterLoans UK shall not be held liable for any direct, indirect, incidental, or consequential damages arising out of the use or inability to use our services or the website.

10. Changes to Terms

FasterLoans UK reserves the right to modify these terms of service at any time without prior notice. It is your responsibility to review these terms periodically for any changes. Continued use of the website and services following the posting of any changes constitutes acceptance of those changes.

11. Governing Law

These terms of service shall be governed by and construed in accordance with the laws of the United Kingdom. Any disputes arising from these terms shall be subject to the exclusive jurisdiction of the courts of the United Kingdom.

12. Contact Information

If you have any questions or require further clarification regarding these terms, please contact us at:

FasterLoans UK
Phone: 07380927729
Email: info@thefasterloans.co.uk

By using our services, you acknowledge that you have read, understood, and agree to be bound by these terms of service.