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Small Business Financing
FAQs

Your best option

Why is a Working
Capital Loan Better
than a Merchant Cash
Advance?

A working capital loan has several advantages over a merchant cash advance:

01.

The amount of a merchant cash advance is predicated strictly upon your debit and credit card transactions. If your total revenue is $1,000,000.00 but only $400,000 of that are card transactions, this would severely restrict the loan amount available to you.

02.

Merchant cash advance payment amounts fluctuate from day to day based on a percentage of your sales. This would make it impossible to determine exactly how long it would take you to comfortably repay the loan.

03.

Merchant cash advance lenders may require you to change your credit card processor, exerting more control over your account.

04.

A working capital loan has none of the these limitations.

Advance
Straight Forward Funding

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Straight
Forward

FAQ

  • 01. How long does it take to get approved and receive my funds?

    Our fast approval process is usually completed within a few hours. Funds are typically delivered the next business day.

  • 02. How much will Mulligan Funding lend my business?

    The amount of funding available to your business will depend on a variety of factors. Our offer will be tailored to your specific situation. Based upon your needs, finances and business revenue, we’ll work together to establish a number that works best for your business. A reasonable expectation is between 6-12% of your gross annual sales. Contact us today to determine exactly how much you’re qualified to receive.

  • 03. Is there any obligation or cost to apply for a loan?

    No, there is no obligation and no cost whatsoever for the application.

  • 04. Are there restrictions on how I can use my loan proceeds?

    No. Unlike a bank loan, you are free to use the funds for anything necessary to run your business. There are no restrictions. As the business owner, we believe you know your business needs best.

  • 05. Will I qualify for a business loan?

    You likely qualify for one of our financing options if your business has:

    • Been in business for at least nine months
    • At least $100,000 in revenue over the last 12 months
    • Three months of business banking statements
    • No open bankruptcies
  • 06. Will you pull my credit report?

    We initially perform a “soft pull” credit check after you apply for funding. This process will not leave a footprint on your credit report. Only after you accept an offer and sign a loan Agreement will we perform a traditional “hard pull”, which will show on your credit report.

  • 07. Does my credit score affect my eligibility for a loan?

    Your credit score is only one of many factors Mulligan Funding uses to determine your eligibility for funds. It is not the primary decision criteria for loan approval. And, perfect credit is not required.

  • 08. Do you require collateral?

    No. Unlike a traditional bank loan, our funding does not require any of your assets to be assigned as collateral against our loan.

  • 09. What is the average length of a loan?

    The terms of our loans are determined on an individual basis. They range from 6 to 18 months.

  • 10. How does repayment work?

    Repayment consists of a small daily fixed payment. You’ll never need to worry about coming up with a large monthly payment. Small daily ACH payments are set up so you won’t need to be concerned about sending in checks or missing due dates.

  • 11. Is there a prepayment penalty for paying my loan off early?

    No. You can repay your outstanding balance at any time without incurring any new charges.

Direct lending

Is Mulligan Funding
a Direct Lender
Or a Broker?

Mulligan Funding is a direct lender. Because of this, our clients have direct access to the source of their funding. The buck literally stops here. If you have a question, concern or want to run an idea by us, you have a dedicated financing expert to assist you every step of the way.

Brokers collect applications from business owners, but submit them to lenders, such as Mulligan, to get approvals and funds. When you deal with a broker your credit may be pulled by multiple sources, adversely affecting your credit score.

Direct lending

Is Mulligan Funding
a Direct Lender
Or a Broker?

Mulligan Funding is a direct lender. Because of this, our clients have direct access to the source of their funding. The buck literally stops here. If you have a question, concern or want to run an idea by us, you have a dedicated financing expert to assist you every step of the way.

Brokers collect applications from business owners, but submit them to lenders, such as Mulligan, to get approvals and funds. When you deal with a broker your credit may be pulled by multiple sources, adversely affecting your credit score.

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Additional
Questions?

Call us now!

For more information, contact one of our friendly and knowledgeable financing experts today. Give us a call today at:

855-326-3564