Beyond Merchant Capital Review (2021)

  • Updated: 06/08/2021
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🗺️ ProductsBusiness Loans
Merchant Finance
💰Funding Amount$10,000 to $300,000
📊 Loan TermsBusiness loan - No fixed term
Merchant finance - 9-12 months
or based on sales
Min. Trading Period6 Months
Min. Trading Turnover$10,000 a month
🛍️ Unsecured/Secured Unsecured
💳 Funding Speed24-48 hour approval
Funding 24 hours after approval
Beyond merchant capital logo with words beyond merchant capital review under ut

Beyond Merchant Capital (BMC) offers a choice of two lending products, unsecured business loans and merchant cash advance finance facilities. The lender’s primary market is digital natives who require funding fast, with a simple application process and cost structure.

Both BMC’s finance products allow you to access capital between $10,000 and $300,000 with a loan term typically 9 and 12 months. You can apply online and have your application approved within 24 hours with the funding accessible to you within 48 hours.

Loan ProductsUnsecured business loanMerchant Cash Advance
Loan Terms & Funding Size
💰 Loan Amount$10,000 to $300,000$10,000 to $300,000
⏳ Loan LengthVariable repayments
(no fixed term)
Typically 9 to 12 months (fixed) or variable based on % of sales.
📆Payment scheduleDailyAgreed % of daily EFTPOS sales
💳 Line of Credit Option?
Loan Costs
💸Fees (exc. interest)Choice of origination feesChoice of origination fees
﹪Interest Rate TypeFactor fee based on loan amountFactor fee based on loan amount
🔓 Unsecured Loans?✔️✔️
👍 Early Repayment✔️ (No fees or penalties)✔️ (No fees or penalties)
Loan Qualification
🎓 Qualification BasicsABN or ACNABN or ACN
🛍️ Min. Trading Qualification6 Months6 Months
📅 Min. Turnover Qualification$10,000 per month avg$10,000 per month avg
🗎 Low Doc Loans
😕 Bad Credit ok?Credit check on business
& all directors
Credit check on business
& all directors
Approval & Funding Speed
🏍 Approval Speed10 minute application
Approval with 24-48
10 minute application
Approval with 24-48
💨 Funding Speed24 hours after approval24 hours after approval

Beyond Merchant Capital Pros and Cons

Good for

  • Choice of unsecured loan or merchant advance
  • Redraw options
  • No hidden costs. One factor fee only
  • No direct debit fees
  • 80% approval rate
  • Xero integration
  • Variable repayments with no fixed terms

Not so great for

  • Not for startups (6 months min. trading)

Products – Types of financing available

Beyond Merchant Capital offers merchant cash advance and unsecured business loans.

Merchant cash advance which the lender calls merchant finance is their primary product. It is suitable for businesses that make their sales through EFTPOS, credit cards, and debit cards.

If your business does not rely on EFTPOS sales, then unsecured loans may be a better option.

Both forms of finance give you a lump sum loan, the difference a merchant finance advance requires you to repay the loan using a portion of your EFTPOS and card sales.

  • Unsecured business loan
  • Merchant Cash Advance (Merchant finance)

Beyond Merchant Capital unsecured business loans

Beyond Merchant Capital overview of unsecured business loans

Unlike merchant finance, unsecured business loans are suitable for all businesses regardless if the business makes their sales through EFTPOS and credit or debit card or not.

Unsecured business loans require no collateral to secure the loan however, because of this, interest costs may be higher than a secured loan.

To ensure costs remain manageable for small businesses and as a responsible lender, BMC has a loan term of 9 to 12 months, most businesses will pay their loans in 3 months.

Beyond Merchant Capital unsecured business loan qualification:

Beyond merchant capital unsecured loan qualification

Beyond Merchant Capital keep eligibility for a loan very simple, the lender will approve your loan as long as you satisfy the minimum application requirements. This means the business needs to have been trading for at least 6 months, as you will need to show at least six months of bank statements.

This process allows the Fintech to see if the business averages at least $10,000 a month in revenue, a strong indicator the business has the financial health to honour the loan repayment terms.

The business will also need an ABN or ACN number, as you will need to show the loan is for business purposes and not personal reasons and give permission for the lender to allow them to check the credit score of the business and all directors. Directors will need to provide a personal guaranteed on the loan.

Unsecured business loan funding size and loan terms:

Beyond Merchant Capital funding size and loan terms

The loan amount you can borrow is $10,000 to $300,000 and you can expect Beyond Merchant Capital to approve about one month’s worth of turnover.  If you require a larger loan, the lender offers personal service with a customised solution, so you can expect a lending specialist to help you find the best option for your needs.

The payment term will vary depending on the financial health of the business, the loan amount, and your personal preference. Loans will typically be between 9 and 12 months.

Unsecured business loan costs and fees

Beyond Merchant Capital only has two sources of fees for their unsecured business loan, these are a one-off origination fee and a factor fee.

The origination fee is the upfront charge most lenders charge to process your application, while the lender does not advertise their origination fee,  2 to 3%, which is an industry standard in Australia.  Beyond Merchant Capital offers flexible origination fee arrangements, this can include larger upfront fees with lower loan rate or origination fee spreads across your repayment term. Your origination fee will be included as part of your factor rate.

The factor rate is the other cost you will have, the lender applies this factor rate instead of interest rates. The factor rate is a decimal figure, so to calculate how much you will need to pay, you multiply the principal loan amount by the factor rate. This type of payment does not compound and does not change like variable interest does, which means you can easily determine how you will pay each pay period.

Merchant Finance

Beyond Merchant Capital Merchant Cash Advance overview

Beyond Merchant Capital’s main financial product is merchant financing, which is commonly known as a merchant cash advance. This type of finance is a financing alternative to traditional loans for business owners as the business receives an advance (not a loan) in return for a percentage of future earnings of the business.

If your business makes the bulk of sales through EFTPOS transactions, then a merchant cash advance allows you to align your loan remittance to a portion of your daily or weekly card sales. This means you pay back more for the loan when sales are high and less when sales are low, making it a great option for businesses with seasonal cash flow such as retail and hospitality.

Merchant Cash Advance eligibility / qualification:

Beyond merchant capital advance eligibility

Beyond Merchant Capital’s Cash Advance have the same qualification as for their unsecured loans. As long as your business is a registered Australian business and has an average of $10,000 in turnover for the most recent 6 months, the odds are high that Beyond Merchant Capital will approve the loan. The lender approves about 80% of applications.

Merchant Cash Advance funding size and loan terms

Beyond merchant capital cash advance funding and terms

Beyond Merchant, capital will approve about a month’s worth of turnover as a cash advance.  A loan specialist from the lender can work with you to find an arrangement that suits your loan requirements. If you need more in the future, the lender allows for easy redraw.

Merchant cash advances do not have regular repayment commitments. Your business pays back an agreed percentage of credit card and debit card sales, so when sales are high you pay the loan faster, when sales slow, you pay less. You should expect the cash advance to be  80 to 100% of your monthly card turnover.

As you are paying a % of your sales, you don’t need to be concerned with a meeting scheduled payment obligations nor do you need to pay the cash advance before the end of a loan term. This means there are no late fees. Your advance is closed when the required advance amount is paid off through a deduction of the % of card sales made by the business.

No Hidden Fees with beyond merchant Capital

Merchant Cash Advance costs and fees

Beyond Merchant Capital costs

Beyond Merchant Capital gives you a choice of origination fee plans. You can agree to a larger origination fee, which can mean a better repayment rate, or have your origination fee spread across the life of the loan. The loan specialist from the lender will explain to you how this works and take you through the benefits of each arrangement.

You can borrow up to 100% of your average monthly EFTPOS transactions, with 80% being the average. Of the amount you borrow, a small percentage will be taken from your EFTPOS sales on a daily or weekly basis before the rest is released to your bank account. A cash advance has no fixed term regardless there are no hidden fees. So all your costs are included in the interest rate that forms part of your EFTPOS remits.

What is a merchant cash advance

Funding Speed

Beyond Merchant Capital Funding Speed

As long as your business satisfies Beyond Merchant Capital’s minimum qualification requirements, then you can have a provisional approval straight away. Formal approval will usually be given within 24 hours, and delays will only occur if the lender finds any issues that warrant further investigation. Once the lender has given approval, you will have access to working capital within 24 hours. This means from the time you apply to the time you receive funding should all be done within 48 hours.

What can you use the loan for?

How you intend to use the loan or advance will affect which type of finance lending is best for your business.

Unsecured business loans and merchant cash advance for any purpose you like, as long as it is for your business. You cannot use the loan for personal purposes or non-business related reasons. While an unsecured business loan is suitable for any business, a merchant cash advance is only suitable for certain businesses. These businesses must make sales through EFTPOS, businesses that use EFTPOS normally include retail, hospitality (restaurants, hotels), spas, cinemas, auto repair shots.

Typical example one might use a business loan include:

  • Purchasing stock
  • Paying staff wages
  • Buying/hiring equipment and inventory
  • Managing business cash flow
  • Payment of invoices

Ease of application and application process

The loan application process takes minutes to complete and is as easy as can be. You just need to provide the following information:

  1. Photo identification for the director or owner of the business
  2. Evidence that you trading as an Australian business for at least 6 months
  3. Bank statements that show you generate an average minimum revenue of $10,000 or more per month
  4. Link your bank account to Proviso (or similar tools) or the most recent 3 month months of bank statements
  5. 6 months of Merchant statements (for Merchant cash advance)

This can be done online or via a call with a loan specialist from Beyond Merchant Capital

Beyond Merchant Capital Trustpilot and customer service

This business lender has a score of 4.7 from 60 reviews. Reviews left on Trustpilot consistently mentioned how happy clients are with the quick and easy application and approval process. Many reviews speak of the exceptional customer services the lender provides, with many mentioning who their consultant was that they dealt with, which reflects the great impression the consultant made.

Beyond merchant capital trustpilot

Our Beyond Merchant Capital review conclusion

Beyond Merchant Capital specialise in merchant finance or cash advances. Regardless if your business is a bricks and mortar store or an online store, if you make the bulk of your sales by card, merchant finance is a good option.

With this product you get the following benefits:

  • Lump-sum payment that is repaid your EFTPOS sales
  • Flexible repayments based on your daily POS transactions (BMC call this “pay as you trade”)
  • Repayments with no fixed term
  • High chance of approval (80% success rate)
  • Fast approval with little red-tape
  • No hidden costs – no monthly charges, no direct debit fees
  • Ability to redraw (most clients do)

A merchant cash advance is not suitable for all businesses. If you are looking for a standard business loan for your small business and don’t have security then an unsecured business loan might be a better option, Unsecured business loan offer:

  • Loans up to $300,00
  • Good chance of approval
  • a variable repayments that have no fixed terms (most are 3 months but 9-12 month is common)
  • High chance of loan approval 80%
  • One factor fee and one origination fee – no other charges.

About Beyond Merchant Capital

Beyond Merchant, Capital was started in 2016 by Larry Prosser to be a lender that provides cash advances to borrowers in several countries around the world. The business was formed as a partnership between RMI Holdings Ltd and Capricorn Capital Group, which share a wealth of experience in the Fintech industry.

SME’s seeking Small business loans with Beyond Merchant Capital should expect fast, simple, and honest financial services backed with a superior user experience. These features form part of the lender’s goal to break down barriers for small and medium businesses that struggle to get loans through traditional funding methods.

The company is located in Brisbane, Queensland, at the following address

Address: Level 4, 11 Finchley Street, Milton, Queensland, 4064, Australia

with the following registration:

Beyond Merchant Capital Pty Ltd ACN 604 670 662  Registration number: 2012/217256/07 ASIC – 604 670 662