What is Merchant Cash Advance
Merchant Cash Advance (or Merchant Funding) is an easy and quick way to finance your business. MCA allows you to access funds against your future card sales. It is designed for businesses that accept credit or debit payments. The amount of MCA depends upon the volume of your monthly card transactions. Repayments are collected as a fixed percentage of each future sale until the advance is fully repaid. It is a form of unsecured loan where no security assets or business plan is required to get a merchant cash advance.
We have compiled a list of Merchant Cash Advance Lenders for your convenience
| Lender | Loan Amount | Repayment Terms | Application Speed | Eligibility |
|---|---|---|---|---|
|
365 Business Finance |
£10,000 - £400,000 |
5% - 15% of card sales
|
Same-day approval |
6 months trading history, Monthly card transactions over £10,000 |
|
Capify |
£5,000 - £500,000 |
Flexible |
Same-day approval |
12 months trading history, Monthly card transactions over £20,000 |
|
Liberis |
£1,000 - £1,000,000 |
Flexible |
Same-day approval |
4 months trading history, Monthly card transactions over £1,000 |
|
Momenta Finance |
120% of monthly card sales (£10,000 - £150,000) |
Flexible |
Same-day approval |
6 months trading history, Monthly card transactions over £10,000 |
|
YouLend |
£3,000 - £1,000,000 |
Flexible |
Same-day approval |
6 months trading history |
365 Business Finance
Loan Amount: Between £10,000 and £400,000
Repayment Terms: Flexible, typically between 5% and 15% of your card sales
Application Speed: Same-day approval
Features:
- 90% approval rate
- Dedicated Relationship Manager
- Businesses with Poor Credit Rating are eligible
- Transparent On-Time Cost with No Hidden Charges
Eligibility:
- Businesses must be trading for at least 6 months
- Monthly card transactions should exceed £10,000
365 Business Finance is a UK-based company that focuses on small and medium businesses. Its financial product of Merchant Cash Advance is one of the best in the market and offers anywhere from £10,000 to £400,000 with a 90% approval rate. No business plans or security assets are required for businesses to secure a Merchant Cash Advance. The only set of requirements is that a business should have a trading history of over 6 months and its monthly card transaction volume should exceed £10,000. You also get to have a dedicated relationship manager assigned to you from the very start, who will be there in case of any issues or queries from your side.
Capify
Loan Amount: £5,000 – £500,000
Repayment Terms: Flexible
Application Speed: Same-day approval
Features:
- Dedicated account managers
- Option to renew MCA
- Can cater to weak credit scores
- Rated 4.5/5 on Trust Pilot
Eligibility:
- Businesses must be trading for at least 12 month
- Monthly card transactions should exceed £20,000
Since the financial crisis of 2008, Capify has been helping small and medium businesses in the UK navigate financial difficulties by offering simple and accessible financial solutions. It offers quick approvals for MCA requests with minimum paperwork required. With a 4.5/5 rating on Trust Pilot, it boasts a remarkable lending experience of over 15 years. A dedicated account manager will accompany you throughout the process. To apply for Capify MCA, you must run a UK-based business either as a sole trader, partnership or a limited company with a trading history of at least 12 months and your monthly card transactions should exceed £20,000.
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Liberis
Loan Amount: £1,000 – £1,000,000
Repayment Terms: Flexible
Application Speed: Same-day approval
Features:
- Rated 4.9/5 on Trust Pilot
- £1 billion+ in funds delivered
- Helped over 27,000 businesses and approved over 45,000 deals
Most accessible Merchant Cash Advance
Eligibility:
- Businesses must be trading for at least 4 month
- Monthly card transactions should exceed £1,000
Since its inception, Liberis has helped over 27,000 businesses and delivered £1 billion+ in funds. It has approved over 45,000 deals so far. Liberis has one of the easiest and most accessible MCA Solutions for small and medium enterprises in the UK. As an SME, you just need to be operating the business for over 4 months and have a turnover of £1,000 in monthly card transactions.
YouLend
Loan Amount: £3,000 to £1,000,000
Repayment Terms: Flexible
Application Speed: Same-day approval
Features:
- 4.8/5 rating on Trustpilot
- Approved 150,000+ funding requests
- No hidden fees
Eligibility:
- Businesses must be trading for at least 6 months
YouLend has closed over 150,000+ deals through its platform. It has over 3000+ 5-star reviews on Trust Pilot with an overall rating of 4.8. It boasts over 85% renewal rate with its merchant customers. It also has a global presence in more than 8 countries. Its online application process is simple and easy to follow.
Momenta Finance (Merchant Money)
Loan Amount: 120% of card transactions, ranging from £10,000 – £150,000
Repayment Terms: Flexible
Application Speed: Same-day approval. Funding within 48 hours
Features:
- Factor rate starting at 1.18 (18p)
Eligibility:
- Businesses must be trading for at least 6 months
- Monthly card transactions should exceed £10,000
- Rated 4.7/5 on Trust pilot
Momenta Finance (formerly known as Merchant Money) has been one of the top merchant cash advance providers in the United Kingdom since its inception in 2013. It has an excellent rating of 4.7/5 on Trust Pilo. Its merchant cash advance can be as much as 120% of your average monthly card transactions between the values of £10,000 and £150,000.
How to Choose Merchant Cash Advance Company?
While selecting the Merchant Cash Advance lender, you should look for the following:
Cost of MCA: The cost of the Merchant Cash Advance can be a key factor to consider. MCA providers charge a factor rate for providing you with an advance. The lower the factor rate is, the lower the cost of borrowing MCA will become. If you are a small business owner, consider checking out our guide to MCA for small businesses.
Transparency, Reputation & Credibility: Always choose the MCA lender with a good reputation and credibility. Look up online reviews and past track records of the provider. The lender should always be accessible through multiple channels. Choose a lender who is transparent in communicating terms of the advance, factor rate, repayment details, and any additional fees.
Flexible Repayment Terms: Look for MCA providers who offer flexible payment terms. Some will automatically deduct their share from your card payments on a daily or weekly basis, and others will value your input and business needs in setting down payment terms.
Speed and Ease in Application Process: MCA is a swift funding option. It should require no more than a few business days to process your request, so it is good to select lenders who are quick and transparent in processing your MCA Requests. MCA is different from traditional business loans, that’s why it’s a quick process.
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