Notes on Specialty Finance

After reviewing Q2 2026 data, I'm seeing significant shifts in the merchant cash advance market. Institutional capital deployment reached $1.25 billion, approval rates hit 84 to 91 percent, and small businesses are increasingly choosing alternative financing. Here's my analysis of what these trends mean for the industry.

Over $1.25 billion in institutional capital flowed into the space last quarter. Here is my breakdown of the top five MCA capital raises that prove smart money is officially here.

In this post, I share my Q2 2026 MCA market observations, reviewing recent Federal Reserve data, regulatory updates from the CFPB, and shifts in institutional participation.