A novel form of lending has opened up new opportunities for Northern Ireland’s retailers.

Holywood company Retail Finance NI is offering a cash advance service of up to £100,000 to retail businesses which are struggling to get credit through traditional routes. The unsecured advances are paid off based on future cashflow and are charged on a negotiated fee.
“We have an appetite for investment and are actively seeking businesses to support. We particularly like businesses looking to expand, refurbish, or buy in stock for Christmas,” Andrew Fraser, director at Retail Finance NI, said.
The cash amount is based on a company’s average credit and debit card transaction values and is typically equivalent to one month’s card sales of the firm.
“Small businesses are the lifeblood of our community and they need to flourish if we are to see the end of the recession. Loans are difficult to secure, overdrafts are now gone, businesses need cashflow,” Retail Finance NI director Rory Wallace said.