Mulligan Funding is based in San Diego and started in 2008. The company specializes in small and medium-sized business loans, has funded over $100 million, and has served over 50,000 clients. The website does not explain interest rate, state availability, or origination fee information.

Rank Chart
Interest Rates
Revenue Requirement
Review

#1

1.5-12%
$50k/year

#2

15-35%
$54k/year

#3

5.99-36%
$100k/year

#52
Mulligan_Funding

Unknown
$10k/Month

The Good

Mulligan Funding is private and family-owned and provides flexible funding options that act as an alternative to big bank services. The company performs multiple business loan services, including working capital loans, merchant cash advances, a business line of credit, and business loans for women. The client base commonly consists of restaurants, auto-repair companies, markets, industrial businesses and more. Benefits of the Mulligan Funding service include:

Simple Application

Mulligan Funding offers a one-page application and quick approval. The approval process is generally completed in just 24 hours, and clients can expect to fund in as little as 1–2 business days after approval.

The application requires a credit pull, but this does not negatively impact one’s credit score.

Small Business Loan Services

Mulligan Funding is a direct lender, so clients have direct access to the funding source. Clients can choose from a variety of small business loan services, including working capital loans, merchant cash advances, a business line of credit, and business loans for women.

Payback terms are flexible, and customers can choose between a 6 to 9-month timeframe; this term can be extended to 12 months in certain cases. The company does not require collateral, and clients can use the funds for any purposes necessary to run their business.

The amount clients can borrow depends on different factors, like the business’s current sales volume; however, Mulligan Funding can fund up to $500,000 in a new business loan, or working capital.

Three Months in Business Eligibility Requirement

To qualify for Mulligan Funding, businesses only need to be in operation for at least three months. A lot of companies in the industry require that the business is up and running for longer—some as long as two years.

Since Mulligan Funding is not a big bank, the company doesn’t have rigid guidelines or strict collateral. Perfect credit is not required.

The Bad

While Mulligan Funding offers solutions for a number of businesses, there are also some limitations that should be addressed regarding their platform and services. Prospective borrowers should consider the following:

Website Lacks Information

The website lacks in providing key information. There is no information provided on whether or not Mulligan Funding offers services to more states than just California. Additionally, the company does not explain if it charges origination or closing fees. This is important information to known upfront when exploring small business loan options.

Eligibility Requirements

In order to qualify for Mulligan Funding, clients must first complete the one-page application and have no open bankruptcies. Businesses must be in operation for more than three months, and have at least $10,000 in total gross monthly sales. Lastly, businesses must have at least three months of credit card processing, or business banking statements.

No Interest Rate Information

The company’s website does not disclose any information on interest rates. Top companies in the industry are upfront and honest about their fees and costs, and unfortunately, Mulligan Funding is not. Besides not charging an application or prepayment fee, it is unclear what fees are included with Mulligan Funding’s services.

The Bottom Line

Mulligan Funding specializes in small and medium-sized business loans and offers a variety of business loan services, including working capital loans, merchant cash advances, a business line of credit, and business loans for women. Applicants can get approved within 24 hours, and fund up to $500,000 within 1–2 business days after approval.

Mulligan Funding is not a big bank, so payback terms are flexible, and the company doesn’t have rigid guidelines or strict collateral; however, the company lacks in providing interest rate, and fee information. We recommend looking into a more transparent company for small business loan needs.

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