What Is A Working Capital Loan?

If you’re a regular visitor to our blog, and especially if you’re a valued customer of ours, then you know that at Mulligan Funding we like to keep things as simple as possible. We know that running your business is challenging and complicated enough. We want to be part of your solution – not add to your problems, stress and worries.

That’s why the working capital loans we offer are refreshingly simple to understand, and by no coincidence, simple to apply for and simple manage as well.

“No Strings Attached” 

Let’s start with this: unlike working capital loans from other lenders, the kind we offer have “no strings attached”. That means can use the funds for any purpose you choose. You do not need to ask our permission, or even our opinion (though you’re welcome to do so if we can help!).

Automatic Daily Payments

Once you receive your working capital loan – which is typically within a day or two after agreeing to our proposal — you simply pay back a small, fixed amount each day. This payment is handled automatically, so there is no administrative burden on your end, or anxieties about accidentally missing a payment when (not if!) things get very busy, and you have dozens of other tasks and priorities on your list.

Prepayment Option

You can pay back some or all your working capital loan ahead of time, and reduce your interest costs. There are no pre-payment penalties of any kind. However, you are never under any obligation to pay your loan back early, and we’ll never ask you to.

No Double Fees

Another very important – and unique – aspect of our working capital loans is that you can apply for a second loan if you need additional funds. If you’re approved, there are NO double fees. That means, unlike other lenders, we will not use the funds from your second loan to pay down the principal of your first loan, yet charge you fees on both. To our knowledge, we are the ONLY company in the lending marketplace that has a No Double Fee policy.

High Approval Rates

And we’ve saved the best for last: compared to conventional bank loans, our working capital loans have a very high approval rate. This is because we accept applications from business owners with dinged or damaged credit, as well as from those who have only a few months of credit history. A past bankruptcy is also usually not an obstacle (provided that it is discharged at the time of application). And we never ask for collateral, which means that your assets are fully in your control.

Learn More

Call Mulligan Funding at 855-326-3564 to discuss your financing options today!

The information shared is intended to be used for informational purposes only and you should independently research and verify.

Note: Prior to January 23, 2020, Mulligan Funding operated solely as a direct lender, originating all of its own loans and Merchant Cash Advance contracts. From that date onwards, the majority of funding offered by Mulligan Funding will be by Loans originated by FinWise Bank, a Utah-chartered Bank, pursuant to a Loan Program conducted jointly by Mulligan Funding and FinWise Bank.