Lender review · Unsecured term loan and merchant cash advance
MCL Finance
- Reviewed May 2026
- Editor Oliver Mackman
- Companies House 11059045
- Methodology Public
Bristol and London-based alternative lender, formerly trading as mycashline, rebranded to MCL Finance. Operating since 2017 under Merchant Finance London Limited. Two-product shop: unsecured loans plus MCAs, both up to £100k. UK Ltd companies only.
Director, BestBusinessLoans
Oliver leads BestBusinessLoans's editorial reviews and methodology. With a background in UK commercial finance, he oversees lender research, rate verification and review independence.
Last reviewed: 8 May 2026
At a glance
- Product
- Unsecured term loan and merchant cash advance
- Ticket size
- £5k to £100k
- Typical rate
- Factor rate or fixed fee, quoted at offer
- Decision time
- 24 hours
- Soft search at quote
- Yes
- Limited companies only
- Yes
- FCA regulated
- No
- Companies House
- 11059045
- Founded
- 2017
Scores against our methodology
- Rate transparency3/5
- Eligibility clarity4/5
- Decision speed5/5
- Decline handling4/5
How MCL Finance works
MCL Finance operates as a unsecured term loan and merchant cash advance provider in the UK SMB market. Bristol and London-based alternative lender, formerly trading as mycashline, rebranded to MCL Finance. Operating since 2017 under Merchant Finance London Limited. Two-product shop: unsecured loans plus MCAs, both up to £100k. UK Ltd companies only.
The product mechanic is straightforward in shape but the underwriting is sector-specific. Tickets sit in the £5k to £100k band, decisions land within 24 hours, and the published rate range is Factor rate or fixed fee, quoted at offer. Soft search at quote means no impact on your credit file at the eligibility stage. Like most UK lenders to limited companies, the standard SMB lending sits outside the FCA perimeter.
Where MCL Finance fits best: uk ltd companies needing sub-£100k, cases needing speed inside 24 hours, borrowers choosing between term and mca structure. Where it does not fit: sole traders, £100k+ tickets, long-term project finance.
Pricing examples
Worked examples using MCL Finance's published rate range (Factor rate or fixed fee, quoted at offer). This lender prices by factor rate or bespoke quote, so we show the structure, not a worked APR.
| Ticket | Term | Estimated total cost | Approx monthly |
|---|---|---|---|
| £25,000 | 24 months | See lender quote | See lender quote |
| £50,000 | 36 months | See lender quote | See lender quote |
| £100,000 | 48 months | See lender quote | See lender quote |
Indicative only. Confirm on a MCL Finance quote.
Eligibility
- Trading time: typically 12 to 24 months minimum for the cleanest pricing.
- Turnover floor: not always published. As a working figure, expect a £100k+ turnover requirement for term loans of £50k+. Smaller tickets and MCA structures have lower floors.
- Sector exclusions: £100k+ tickets; Long-term project finance.
- Credit profile: Clean credit preferred; older satisfied items often acceptable.
- Company structure: Limited companies only.
- Best fit: UK Ltd companies needing sub-£100k; Cases needing speed inside 24 hours; Borrowers choosing between term and MCA structure.
Pros
- + Two complementary products under one underwriter.
- + Funds in 24 hours for clean cases.
- + Strong Trustpilot rating at 4.8.
- + Direct lender, no broker mark-up.
Cons
- − Sole traders and partnerships not eligible.
- − Recent rebrand from mycashline; legacy reviews still split between names.
- − Smaller review footprint than mainstream rivals.
- − Cap at £100k limits utility for mid-ticket SMEs.
Best for
- · UK Ltd companies needing sub-£100k
- · Cases needing speed inside 24 hours
- · Borrowers choosing between term and MCA structure
Weak at
- · Sole traders
- · £100k+ tickets
- · Long-term project finance
When to use MCL Finance
Use MCL Finance when
Your application matches the best-fit profile: uk ltd companies needing sub-£100k, cases needing speed inside 24 hours, borrowers choosing between term and mca structure. The published ticket range (£5k to £100k) covers your ask, the decision speed (24 hours) fits your cash-gap timeline, and the rate range (Factor rate or fixed fee, quoted at offer) is acceptable to you given your credit profile. Soft search at quote means there is no downside to running an eligibility check before committing.
Do not use MCL Finance when
Your profile sits in the weak-at list: sole traders, £100k+ tickets, long-term project finance. MCL Finance will likely decline, and the decline itself can sit on broker records for 90 days. If you have any of these flags, route directly to a specialist (post-decline lender, MCA against card flow, asset-backed alternative) rather than using MCL Finance as a screen.
FAQs
What is the minimum trading time for MCL Finance?
MCL Finance typically asks for 12 to 24 months of trading. Newer businesses can sometimes qualify against alternative underwriting (card flow for MCA, asset security for asset finance), but the cleanest pricing tends to require two full sets of accounts.
Does MCL Finance require a personal guarantee?
Most UK SMB lenders require a personal guarantee from at least one director. MCL Finance is no exception in the standard case. The few exceptions: asset-backed lending where the asset itself stands as security, and a small number of MCA structures where card flow is the underwriting basis. For unsecured term loan and merchant cash advance specifically, expect a PG to be requested.
How fast does MCL Finance fund?
MCL Finance quotes 24 hours for an underwriting decision. Funding to bank account typically follows within one to three working days of acceptance, subject to KYC, signed documents, and (where applicable) registration of any debenture or charge.
What rate should I expect from MCL Finance?
MCL Finance's published range is Factor rate or fixed fee, quoted at offer. The headline number is rarely the offered number. Rate transparency on this lender scores 3/5 in our methodology. Expect the cleaner end of the band only if you have 2+ years of trading, clean credit, and turnover comfortably above the lender's stated floor.
What happens if MCL Finance declines me?
If MCL Finance declines, you have three realistic next steps. First, ask for the decline reason in writing, most reputable UK lenders will tell you. Second, route the application to a specialist post-decline lender (Bizcap, JPM Capital, Bolton Finance) where credit issues are the constraint, or to an asset-backed alternative where security is available. Third, use a broker panel to fan the application across the lenders most likely to accept your specific decline reason. MCL Finance scores 4/5 on decline handling in our methodology.
Where to apply
Apply directly via www.mclfinance.com, or use our free quote form to be matched across the UK broker panel most likely to approve your specific profile, not just MCL Finance.
Specialty alternatives
See all lender reviews for alternatives.
Reviewed by Oliver Mackman, Director. Last reviewed: 8 May 2026. Lender website: www.mclfinance.com.