With low rates and a more realistic evaluation process, mcl finance (formerly mycashline) offers flexible and low-interest loans tailored to your business.
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To make comparing even easier we came up with the Finder Score. Costs, speeds and features across 50+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Costs, speeds and features across 50+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologymcl finance is a direct lender, not a broker, offering flexible and tailored unsecured loans to “help business owners reach their goals”.
Founded in 2018, mcl finance uses innovative funding solutions to level the playing field for small business finance and promote SME growth. Its innovation lies in how it evaluates your business.
The business says that it gets a more realistic view of your business than a high-street bank would get because it assesses a business’s disposable income, payment history and expected cash flow. If you meet its eligibility criteria, mcl finance says it will create a loan tailored to your business.
mcl finance offers unsecured business loans from £5,000 to £100,000 over a term of 1–24 months. The loans are based on risk and are determined by the business’s ability to repay and must be backed by a guarantor. This means that you don’t have to put up collateral such as property but you must provide a personal guarantee from at least 1 director in the business. You can also draw down, top-up and access credit at any time.
If you’re looking to borrow under £5,000 or want to borrow for longer than 24 months, you can find and compare loans better suited to you in our full guide.
| Minimum trading period | 12 months |
|---|---|
| Loan terms | From 1 to 24 months |
| Loan amounts | From £5,000 to £100,000 |
| Minimum turnover | £15,000 monthly |
The interest rate you’re offered will depend on factors such as how much you apply for, the term of the loan, the performance of your business and its credit rating. The interest rate you’re given may differ from the advertised representative APR.
You should only apply if you’re certain you can meet the repayment terms. You must also:
Simply fill out the online application form on the mcl finance homepage where it will ask you for your latest filed accounts, the last 3 months of bank statements, a passport or driver’s licence and some basic information about your business (the name and the type of business, for example).
mcl finance will use the data you provide to carry out a soft search on your credit file, so ensure you complete this as accurately as possible. This will not affect your credit score – only after mcl finance has made a decision on your application will it leave a credit footprint.
An account manager will then call you with a quote and talk through the next stages of your loan with you. They will also need to see a business plan with financial projections if you’re a startup.
You can make loan repayments by a direct debit or you can use a standing order.
If you’re struggling to repay your loan, tell mcl finance as soon as possible so the company can discuss repayment options. Beware as mcl finance charges late payment fees.
You can repay your loan early with no early exit charges or other fees. You can find how much you owe through automated reminders or you can ask to see your balance by calling or emailing mcl finance.
mcl finance (formerly mycashline) recieved a high score in our 2025 customer satisfaction survey, with 87% of its customers saying they would recommend the brand to a friend. Several customers stated that they felt the company was easy to deal with and provided a good service. One customer said of his business loan experience with mcl finance that they have a “commitment to helping local businesses and promoting economic prosperity”. Another appreciated how “they cater to a broad range of industries, from startups to established businesses”.
mcl finance currently has a rating of 4.8 out of 5 stars on Trustpilot based on around 45 reviews. This is considered an “excellent” rating overall. Customers praised its “excellent customer care” and the speed at which they received their funds.
mcl finance has a rating of 5 out of 5 stars on Reviews.io based on over 130 reviews. 100% of mcl finance customers would recommend the lender and they also praised mcl finance’s “excellent customer care” and “efficiency” (updated July 2024).
To get in touch with the customer services team, you can either fill out an online form, email mcl finance at hello@mclfinance.com, or ring them on 020 3727 2572.
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