Worldpay Business Finance
Business funding that’s on your side
FastReceive business funding within two working days of successful application, once approved
EasyOne straightforward small business funding fee with no APR or additional interest
What is the payment process and how does it work?
Frequently Asked Questions
What is a Business Cash Advance?
The Business Cash Advance is designed especially for small businesses. It’s funding between £1,000-£300,000*, based on your business’s card transactions and potential. It includes just one fixed cost agreed upfront, so you know exactly how much you will pay. The advance is paid for via an agreed percentage taken from your customer card transactions processed by Worldpay. It happens automatically mirroring your cash flow – ideal for seasonal businesses.*
Funding can be used for many business purposes, including refurbishment, hiring staff, purchasing stock, expanding premises, equipment upgrades – whatever your business needs.
Who is Liberis Finance?
We’ve chosen to partner with Liberis Finance^ as it is one of the leading providers of Business Cash Advances in the UK. Liberis is a leading small business finance provider offering simple, flexible and transparent funding to help UK businesses achieve their ambitions. Established in 2007, in a space where traditional banking and loan models were unable to meet the needs of UK small businesses, Liberis provides finance based on business potential, not just credit history. Through its Business Cash Advance, an innovative form of funding, Liberis links payments directly to cash flow so businesses only pay when their customers pay them.*
^This product is provided by Liberis Ltd. Liberis Finance is a trading name of Liberis Ltd. Terms and conditions apply. Worldpay Business Finance is not an FCA-regulated product, it is provided by Liberis Ltd and Worldpay will receive a commission. Liberis Ltd is not affiliated with the FIS group of companies.
How does it work?
- You can either apply online or call the expert funding team at Liberis. You can then tailor the funding amount you want to receive.
- Liberis will then agree a percentage split that will be taken from your customer card payments processed by Worldpay. This percentage will be taken from your daily batched card transactions and will go to Liberis to pay the advance; the remaining balance will go to you. E.g., a split of 10 percent would see 10 percent of your daily card transactions go to Liberis and the remaining 90 percent to you.*
- To determine your overall payment amount, Liberis will agree a price with you, which is one fixed cost added to your advance amount, so you know exactly what you’ll be paying.
- Once Liberis finds a funding amount and price right for you, it will then process your application. During this process, Liberis will look at your business and conduct some checks, such as for affordability, credit and insolvency.
- Once approved, you could receive the funds usually within two working days of successful application** to use as you wish for your business.
- Worldpay will set the split up and your payments will be taken automatically from batched daily card transactions through Worldpay until your business cash advance and funding fee have been paid. This will happen automatically until the advance is satisfied.
How do I qualify?
If you are a Worldpay customer who takes at least a minimum of 10 credit and debit card transactions totaling +£1k month, you are eligible to apply. Ideally, your business will have been trading with Worldpay for over four months. However, if you have switched to Worldpay from another provider and can provide evidence of at least 12 months’ card takings, Liberis can look at your business and discuss with you whether you could be eligible for a Business Cash Advance.
How much could I get?
Liberis can provide eligible customers with funding between £1,000 to £300,000. The amount it funds will depend on your business. It’ll look at your monthly card transactions with Worldpay and provide a funding amount for your business.
You can check how much you may be eligible for without submitting a full application by looking on the cleverCheck tool from Liberis (see below “What is cleverCheck?”).
How much will it cost?
The Business Cash Advance comes with one fixed cost which Liberis will agree with you upfront, so you don’t need to worry about working out APR rates or additional activation or other fees.
No business is the same, so Liberis uses information from your business and credit history, and your future business potential to tailor the price to your individual circumstances. Intelligent pricing means that Liberis can adjust its rates for customers who have previously had a smooth ride with credit, and those who have less impressive credit histories.
What is cleverCheck™?
The simple cleverCheck tool, which you can find here, will look at your business’s circumstances and, in most cases, will be able to let you know if you’re approved by Liberis before you apply***. It will tell you how much funding you could be eligible for and give you a quote that’s tailored to your business. Your credit score won’t be impacted, and there’s no obligation to take the funding. Your credit score won’t be affected when applying but taking out a cash advance could affect your credit score.
Please note that the quote will be based on information about your business that is available at the time, and that the actual quote may differ depending on your circumstances at the time you submit your application. Business Cash Advances are subject to an underwriting process before any offer can be made. Liberis can assess business income not processed through Worldpay when assessing a business for funding.
Does my offer expire?
Worldpay and Liberis may from time to time send you a personalized letter and details of the Business Cash Advance that you may be eligible for and the cost of this. The letter will include details of the length the offer from Liberis is available for and within which time you are able to accept it (typically this is 30 days from the date of the letter). The amount and cost of any final offer, however, will be subject to final approval after your application and depend on your business circumstances and credit information and results of Liberis’ other checks at the time.
What credit checks do you perform, and will they impact my credit score?
When you submit a full application, Liberis will use a number of sources of information to help understand your business, including third-party credit bureau checks. It carries out both company and consumer credit bureau searches, which will leave a record of the search on both credit files, visible to other finance providers. Your credit score won’t be affected when applying but taking out a cash advance could affect your credit score.
What if my credit history isn’t squeaky clean?
Liberis considers applications based on business potential and your business performance by way of card transactions through Worldpay – not just your credit history. However, Liberis is committed to ensuring it acts responsibly so, just as Liberis does, you should think carefully about financial products for your business and seek appropriate advice when making decisions.
Do you take any security or collateral?
A Business Cash Advance is an unsecured way of accessing finance and is not a loan. This means your home is not at risk. Liberis will ask you for Personal Guarantees if you are applying as a limited company or limited liability partnership.
What documents can I submit as proof of identity?
Liberis accepts a number of different document types as proof of identity and you can find the full list below.
Please note that the documents you submit must be photocopies, scans or photos of original documents only. Liberis will not accept screenshots of these documents, and please do not send any original documents either.
- Current valid passport
- UK birth certificate issued within 12 months of the date of birth in full form including those issued by UK authorities overseas such as Embassies High Commissions and HM Forces
- EEA member state identity card
- Current UK or EEA photocard driving license
- Full old-style driving license
- Photographic registration cards for self-employed individuals in the construction industry – CIS4
- Benefit book or original notification letter from Benefits Agency
- Firearms or shotgun certificate
- Residence permit issued by the Home Office to EEA nationals on sight of own country passport
- National identity card bearing a photograph of the applicant
- HMRC correspondence that includes National Insurance Number
What documents can I submit as proof of address?
Below are the document types that Liberis will accept as proof of address. As with your proof of identity, the documents you submit for proof of address must be photocopies, scans, or photos of original documents only. Liberis will not accept screenshots of these documents, and please do not send any original documents either.
- Personal Bank Statement or Credit Card Statement
- Personal Mortgage Statement
- Utility Bill (gas, electricity, water, fixed landline telephone – not mobile phone)
- Residential Council Tax Bill (current year)
- HMRC Correspondence (e.g., PAYE coding notice/Tax Credit notification, etc.)
- UK Driver's License
- Land Registry Confidence of Address
How will I know how much I have left to pay on the advance?
Running a business is stressful enough as it is without having to chase up any financial payments – we get it! That’s why Liberis not only provides you with a clear monthly statement of how your payments are going, but also offers you the use of myLiberis, an online customer portal where you can keep up to date with your payments and balance anytime, anywhere.
You can also give Liberis a call – Monday to Friday, between 9:00 a.m. and 6:00 p.m. – and get your up-to-date balance over the phone (0330 108 8126).
What happens if I change my mind after receiving the funding?
You have the right to change your mind within 14 days of receiving the funding with no charge. The full amount of the Business Cash Advance will need to be paid to Liberis.
Can I pay the advance early?
You have the right to change your mind within 14 days of receiving the funding with no charge. After that, the fixed, upfront funding fee will still apply if you pay early, but there will be no early payment fees.
Is there a time limit to pay the advance?
The Business Cash Advance has been crafted as a funding product that is typically expected to be settled between four and 12 months, but the exact time it takes for you to pay it is ultimately down to how your business performs. Compared to business loans there are no varying fees so Liberis will discuss all options and the cost with you from the beginning, so everything is clear and understood. The total cost will be fixed, but you will only pay as your customers pay you.
Are there any fixed monthly payments?
No. Payments are made by way of a fixed percentage of your credit and debit card sales – so there is no fixed term and there are no other fees, penalty charges or hidden costs either. This works particularly well for seasonal businesses with a fluctuating cash flow as when business is quiet, you’ll pay less. And if business is busy, you’ll be paying more – always the same percentage of your card takings.
What can I spend the money on?
You can use your Business Cash Advance for many different business’s needs, whether it’s purchasing stock or equipment, refurbishment or repairs, or simply bridging a dip in cash flow.
*If you close your business or cease trading for any period of time greater than seven days and do not notify Liberis, then you may be contacted by its Collections Team. So, you must let them know in advance and they can discuss your options. Your credit score is unaffected when obtaining a quote. Taking out a Business Cash Advance may affect your credit score.
As of May 2020, 84 percent of successful applicants were funded within two working days.
Any preliminary approval will be based on the information about your business that is available at the time. You will get a final decision after submitting an actual application. All advances are subject to an underwriting process before any offer can be made as well as credit and other checks.
1 The Worldpay Business Finance cash advance product is provided by Liberis Ltd. Terms and conditions apply. The Worldpay Business Finance cash advance is not an FCA-regulated product. Liberis Ltd is not affiliated with the FIS group of companies. Subject to status at the time of application. Amounts and pricing may be subject to change, depending on your credit profile at enquiry. Offers for Worldpay Business Finance cash advances are subject to an underwriting process before any offer can be made. Liberis can assess business income not processed through Worldpay when assessing a business for funding. Subject to essential checks.
If you close your business or cease trading for any period of time greater than seven days and do not notify Liberis, then you may be contacted by its Collections Team. So, you must let them know in advance and they can discuss your options.
2 Your credit score is unaffected when obtaining a quote. Taking out a Worldpay Business Finance cash advance may affect credit score.