Possibly, but it depends on the provider and on how you take payment. A merchant cash advance is repaid as an agreed percentage of your card takings, so funders look for a consistent volume of card sales through a terminal or online payment provider. Some consider sole traders; criteria vary, and no approval can be assumed.
Because repayment flexes with turnover, an MCA can suit businesses with uneven trade such as hospitality or retail — quiet weeks cost you less. The trade-off is price. The amount repayable is usually expressed as a fixed fee rather than an interest rate, which makes it harder to compare, and it can work out expensive against a term facility, particularly if you would have repaid quickly anyway. Ask for the total amount repayable in pounds before you sign anything.
There is a further point for unincorporated businesses. Because a sole trader is an individual in law, some finance can fall within the FCA consumer credit regime depending on the amount, the purpose and how the agreement is written — broadly, business lending above £25,000 sits outside it, though you should confirm the current position rather than rely on that figure from memory. It affects the paperwork you receive and the rights attached to it, so ask the provider to confirm the status of any agreement before signing.
If you are funding a specific asset — a van, machinery, catering equipment — an MCA is often not the most cost-effective route, and hire purchase or a lease may suit better because the asset itself supports the facility. We are an independent credit broker with a panel of 60+ lenders and we charge you no fee, being paid commission by the lender on completion. We will tell you plainly if the product you have asked about is not the right fit, or is not something our panel covers.