Cash Advance Solution in collaboration with YouLend

To support Booking.com’s accommodation partners, Booking.com wanted to give its accommodation partners (you) the opportunity to work with YouLend to obtain funding that may help you to invest in your property or cover business-related expenses, like property upgrades and off-season expenses.

YouLend determines the amount of funding you can receive based on your monthly revenue. If you are approved for a cash advance, you can receive up to a maximum of twice your monthly revenue. 

To calculate your monthly business revenue, YouLend will take the monthly average of all the revenues you have received in the past across the bank accounts you agree to share with YouLend. 

If you want the funding to be only based on revenues you earn through our platform, then you should only share the bank accounts where you receive revenue from Booking.com. However, if you share additional business revenue streams you could receive a higher amount of funding.

The funding from YouLend can be used for any business purpose (related to your property), such as covering unexpected or off-season expenses and making property improvements and enhancements– the choice is entirely up to you.

If you have been funded by YouLend at least once, you can usually get quotes for additional funding and get the funds transferred on the same business day that you request them.

YouLend charges a single fixed fee, which will be repaid on a weekly basis. The fee will be between 3% and 19% of the amount advanced to you and is determined by a range of factors, including: 

• the amount advanced 
• the estimated duration of repayment 
• the overall risk score of your business (as determined by YouLend)

When you sign the funding agreement with YouLend, you must provide them with a direct debit instruction. You repay YouLend via direct debit from the same account where you received the advance. You have the option of setting a repayment amount that is a fixed percentage of your weekly revenue or a repayment amount that is a fixed sum. 

Example: Fixed percentage of 20% on your weekly revenue 

- If, in a given week, your revenue is £5,000, your repayment would be £1,000, which would be debited from the same account that was funded. If, in the following week, your revenue is  £4,000, your repayment would be £800. Therefore, if your revenue differs each week, you will pay a different amount each week. 

Example: Fixed amount of £1,000 per week 

- Your repayment will be a fixed amount of £1,000 per week which will be debited from the same account that was funded. You will make the same repayment to YouLend, regardless of any changes in your revenue. 

If you want to make any changes to your repayment schedule, please contact YouLend directly on +4402039240806.

The exact timeline may vary based on the individual offer you get from YouLend. However, you would generally be expected to repay the cash advance in 3 to 12 months. You can always choose to pay early by either making a one-off payment or increasing the frequency/amount of your repayments.

If you’re unable to make a repayment in a given week, then get in touch with YouLend immediately. YouLend will make every reasonable effort to  find a way to accommodate your individual situation. In the event that your business cannot repay the financing, you will be personally liable for repaying the outstanding balance.

YouLend runs soft credit searches to check your credit history during the application process. These searches won’t affect your credit score. 

However, if you accept a cash advance offer from YouLend, they will report this to credit bureaus as is standard for all financing. The funding itself may affect your credit score.

To apply for funding, you’ll be required to provide YouLend with: 

• Company details: company name and company registration number. 

• Personal details: full name, date of birth, home address and contact details for directors and shareholders (business owners). 

• Last 3 months of bank statements – option to connect open banking via Plaid or upload PDF statements.

You are not required to provide YouLend with any collateral, but you will be required to provide them with a personal guarantee. There are no changes regarding how you interact with Booking.com.

For more information please reach out to YouLend by phone +4402039240806 from 9-6 pm GMT or email booking.referral@youlend.com.