The BMCAA is dedicated to ensuring British businesses have information and access to capital via the Merchant Cash Advance sector, which in turn will help to grow and strengthen the UK economy.
A Merchant Cash Advance is classed as an alternative business finance product in the UK. An MCA, otherwise known as a Business Cash Advance, provides businesses with an advance of funding in return for a percentage of future credit and debit card income. This is taken directly from the processor until the funding has been repaid.
Since the 1st of November 2016, the main UK banks have been obliged to refer customers who didn’t qualify for a business loan with them to alternative forms of business funding products. One of these products is a merchant cash advance which is a viable choice for businesses who process card payments with their customers.
Many businesses are using the product as awareness grows. The BMCAA acts as a website where you can find out more information on the lenders and their respective merchant cash advance product(s).Read our MCA Guide