To be eligible for our business financing service, your business must meet the following requirements:
- You need to have already been processing transactions with us for at least 3 months. This gives us the time to develop a better understanding of your business.
- You must be processing a volume of at least £1,000 per month for the last 3 months.
- You must be based in the UK and processing payments in British Pound Sterling (£).
The final financing decision is made by the provider of the funds, YouLend.
If you meet these requirements, click here to apply.
If your application for financing is accepted by YouLend, they will send you an email containing a link to the financing offers available to you. Please review these offers carefully to ensure they are right for your business. The financing offers are provided by YouLend are subject to their terms and conditions (link to external site).
YouLend is an embedded finance provider that partners with payment platforms, such as Trust Payments, to offer tailored financing options to their merchants. Since their founding in 2016, YouLend has been used to help thousands of businesses across the UK, Europe and USA.
Trust Payments are partnering with YouLend to offer our merchants this product. Through this partnership, we are able to offer preferential rates on the fixed repayment fee and a more streamlined sign-up process.
To access this financing, you will need to pay a fixed fee, which YouLend will deduct from your settlement. For YouLend to do this, you will take out a new bank account (IBAN) with Banking Circle, YouLend’s banking provider. We will settle funds at their usual frequency into this new bank account, from which YouLend will deduct their percentage to go towards repayment, then settle the rest into your original bank account.
You will need to pay back the full financing amount and also a fixed fee for facilitating the service over the course of the financing period. Both the fee and the length of the financing period are agreed with YouLend once your application has been accepted.
Repayment will be deducted from the sales you process with Trust Payments. The percentage you pay remains the same regardless of how many sales you process, so you will only repay a proportionate amount to your earnings. If you don’t make any sales in a given period, you won’t repay anything to YouLend during said period.
- The value of the fixed fee depends on the length of the financing period but is typically between 10-20% of the financing amount.
- The typical financing period is between 6-12 months.
Consider this example:
Suppose you are pre-qualified for up to £10,000 of financing.
In addition to repaying the amount in full, you are asked to pay an additional fixed fee of £2,000.
As agreed during onboarding, both the financing repayment and the fee are paid gradually over the span of 12 months through deductions of up to 20% of your sales revenue.
So, in this example, after 12 months have passed, you will have repaid £12,000 in total (£10,000 financing + £2,000 fee).
There is no interest charged on this financing product.
There is only a single, fixed fee applied to cover the financing provided, which is agreed upfront and doesn't increase.
When you accept a financing offer, YouLend will set you up with a new bank account through their banking partner, Banking Circle. Trust Payments will continue to settle funds at their usual frequency into this new bank account. YouLend will then deduct the agreed percentage of your settlement to go towards repayment, then settle the rest into your original bank account.
Trust Payments will settle into your new Banking Circle bank account that you take out through YouLend. The terms and frequency of settlement will remain the same. YouLend will then deduct a proportion of the settled funds to go towards repayment of the financing before settling the remaining funds into your original bank account.
- If your account with Trust Payments uses a gross settlement model, note that your existing obligations to pay required fees to Trust Payments will remain in place.
- If your account with Trust Payments uses a net settlement model, we will deduct the necessary fees as usual before settling into the Banking Circle bank account.
YouLend will conduct a soft search when you make an application. This will not affect your credit score.
There is no interest charged on this financing product. There is only a fixed cost of financing associated with the product, i.e. the fixed fee, which is agreed upfront - this doesn’t increase.
There are no additional fees charged for early repayment. Both the financing and associated fixed fee can both be paid off early.
YouLend are ready to help if you have any questions or concerns about your financing agreement.
