What documents do you need for a merchant cash advance?
By Helm, Funding Specialist
- MCA applications require far less paperwork than bank loans
- The most important document is your card processing history
- Most providers need 3 to 6 months of card transaction statements
- Some providers accept open banking as an alternative to statements
- Business plans and projections are not usually required
One of the biggest advantages of a merchant cash advance over a traditional bank loan is the simplicity of the application process. You do not need to prepare a detailed business plan, provide years of accounts, or undergo a lengthy credit check.
That said, you will still need to provide some basic information and documents. This guide covers everything you need to have ready.
Essential documents
Every MCA provider will need the following:
- Card processing statements for the last 3 to 6 months, showing your daily or monthly card transaction volumes
- Business bank statements for the last 3 to 6 months
- Proof of business identity, such as a Companies House registration or sole trader details
- Photo ID for the business owner or director, such as a passport or driving licence
- Proof of address for the business owner, such as a utility bill or bank statement
Optional or provider-specific documents
Depending on the provider and your circumstances, you may also be asked for:
- A signed application form or online questionnaire
- Details of your card terminal provider
- Information about any existing business finance or advances
- A brief description of what you plan to use the funds for
- Access via open banking for instant financial data verification
What you do not need
Unlike a bank loan application, an MCA does not typically require:
- A detailed business plan
- Financial projections or forecasts
- Audited accounts or tax returns
- Property valuations or asset schedules
- A personal guarantee or guarantor
MCA vs bank loan: documentation comparison
Here is how the documentation requirements compare.
| Document | Merchant Cash Advance | Bank Business Loan |
|---|---|---|
| Card processing statements | Required | Not usually needed |
| Bank statements | 3 to 6 months | 12 to 24 months |
| Business plan | Not required | Required |
| Financial projections | Not required | Required |
| Photo ID | Required | Required |
| Audited accounts | Not required | Often required |
| Property valuation | Not required | May be required |
How to get your card processing statements
Your card processing statements are available from your payment processor or card terminal provider. Most providers offer online portals where you can download statements in PDF format.
If you are not sure how to access your statements, contact your card terminal provider directly. They should be able to email them to you within 24 hours.
Tips for a smooth application
To speed up your application and avoid delays:
- Gather all documents before starting your application
- Make sure your card statements are clear and show daily transaction totals
- Ensure your bank statements cover the same period as your card statements
- Have your photo ID and proof of address scanned and ready to upload
- Consider using open banking if your provider offers it, as this can replace manual statement uploads
Frequently asked questions
Can I apply without card processing statements?
Card processing data is essential for an MCA because it determines your advance amount and repayment structure. Without it, most providers cannot proceed with an application.
Do I need to provide personal bank statements?
Most providers only need your business bank statements. Personal bank statements are not usually required unless you are a sole trader using a personal account for business.
How far back do my statements need to go?
Most providers ask for 3 to 6 months of card processing and bank statements. Some may accept as little as 3 months for businesses with strong, consistent revenue.
Can I apply online?
Yes. Most MCA providers accept online applications with digital document uploads. Some also offer open banking integration for instant data sharing.