How does Cash Advance work?
If available, Cash Advance offers are shown in the Cash Advance section of your SumUp profile or sent to you by email. Offers will contain all the relevant terms, including the rate of the one-time fixed fee.
Once accepted, you'll receive the money within 5 business days either on your SumUp Business Account or on your third-party bank account, depending on your payout settings.
Am I eligible for a Cash Advance?
You are eligible for Cash Advance depending on some factors related to your business activity:
You must successfully complete the know-your-customer (KYC) process before becoming eligible.
Consistent and higher sales increase your chances of qualifying and being eligible for Cash Advance.
Using more than one SumUp product, such as the Business Account or POS Lite, can positively impact your eligibility for Cash Advance.
Due to regulatory requirements, there are incompatible businesses. To qualify for a Cash Advance, your business must fall within one of SumUp’s supported businesses.
Meeting the eligibility criteria does not guarantee an offer. Once you become eligible, you will be able to check Cash Advance offers in your SumUp app.
How do repayments work?
Repayments are made as a percentage from your daily card payments. You can also repay early with a one-time card payment or bank transfer if you’d prefer.