Want to know more?
What type of funding does Forward Advances provide?
We provide fast, flexible and non-dilutive growth funding for eCommerce and SaaS businesses. We purchase a percentage of your future revenue so you can receive this cash upfront to reinvest into growth activities for the business, helping you scale faster. Once received, our advance can be repaid by fixed instalments or revenue-share.
Our funding is interest free, equity free with no hidden fees.
How much capital could I get from Forward Advances?
Our loan sizes vary between £10k - £1 million, with the amount of capital we are able to lend depending on the businesses monthly revenue.
Each business is reviewed by our underwriting team before crafting a tailored offer. Our minimum funding criteria is for the business to be a UK-ltd online business, older than 6 months with MRR of over £25,000.
Will applying for funding impact my credit score?
No - applying for our funding does not affect your credit score.
How can I disconnect my open banking or platforms?
You can request to disconnect your account at anytime. Simply log in to your account, and click 'Request to disconnect'. From here, our team will be notified and will action your request in the next 5 working days.
Once complete, your account manager will be in touch to confirm you are disconnected. If you need any help or have a question, please email us at email@example.com
Can you fund pre-revenue businesses or early-stage start-ups?
Given the nature of our funding being unsecured, we use existing business performance (at least 6 months of sales data) to predict future revenue. This makes our type of funding not suitable for pre-revenue companies, we are ideal for more established businesses looking for an extra boost to help them scale.
What geographies do you work in?
At the moment, we only fund UK-based companies.
Why do I need to connect my open banking and what access does this give you?
Given the nature of our funding being repaid based on future sales, we use your business performance to understand how much capital we can give you. In order to verify this and receive an offer from us, we need your open banking. We understand how important your data is to you, and keep this secure and completely confidential at all times.
The type of access you are granting is read-only, meaning we can't edit or delete your data, or see any personal customer information. The information we can view is transaction ID, amount, date and time.
Want to learn more about our application process? Read more here.
What is growth capital?
Growth capital is a form of finance to support your marketing spend or inventory. The amount offered is based on business performance and we charge a fixed fee agreed in advance rather than taking equity. Repayments are made at a fixed percentage of revenue agreed when the capital is offered meaning repayments fall if your revenue falls.
What do I need to qualify for an advance?
You'll need to have at least 6 months of sales data, £25k or more of monthly revenues and be incorporated in the UK. We provide finance across a range of sectors but we focus on eCommerce, marketplaces and SaaS.
How long does the process take?
Apply in less than 3 minutes to see an approximate of how much you can borrow. If we're a match, a member of our team will be in touch to understand a bit more about your business, before our team of underwriters assess your business and give you an offer. From first call to getting the money in your bank, we aim to do this in 3-5 days.
What are the fees associated with the advance?
We charge a single flat fee between 4-8% - this is dependent on your business and the requirements for the money.
How do I repay my advance?
We aim to provide you complete flexibility. When repaying our advance, you can select fixed payments or a revenue-share. A fixed payment means We will agree a revenue share when making the advance. You will then pay a weekly Direct Debit based on your revenue for the previous week
What is my repayment percentage?
The repayment percentage will depend on your business performance and the amount of capital received. Typically repayments will range between 10-30% of your gross revenue.
Can I change the terms of my advance after I start?
Once agreed we cannot change the terms of the agreement.
What information do I need to verify my business
We need details of the business owners, a copy of an identification document, such as a drivers license and a picture so that we can verify your identity. As part of our due diligence, you will also need to verify yourself through a third-party KYC provider.
How secure is my information?
Forward Partners - the owner of Forward Advances is regulated by the FCA so we take data security seriously. Information is stored on enterprise servers and is encrypted.
Are you going to sell my information to third parties?
No. We understand as a founder, your data is the most important thing to your business and we would never share or sell your information to third parties.
How long does it take to receive the funds?
Once the terms are agreed and signed, we process the funds by the next working day. Need them same day? Our team will try our best to make this a possibility.
When will the repayments start?
Repayments start on the first Monday after you receive the funds. We calculate the repayment based on the previous weeks revenue.
What can I use the money for?
The money is there to help you grow so we expect you to spend it on marketing or inventory. If you need it for other things please let us know and we can discuss it further.
How do I access the funds?
Once approved, we deposit the funds directly into your bank account. These funds will be available within 1-2 working days.
What data will I need to provide?
In order to understand your revenue data and cash position, we will need access to your payment processor, open banking or accounting software. We will also need to undertake a KYC check on yourself and the business prior to transferring the funds.