The Loan Market Association was formed in December 1996 and is based in London, UK. Its initial aim was to assist in the development of the secondary loan market in Europe, which was in its infancy at that time. Its intention was to develop best practice and standard documentation. It achieved significant success and recognition in that area, and is now active in the primary as well as the secondary loan market.

Its members number over 500 and consist of banks, law firms, information and systems providers and other market participants.