Mulligan Funding

Best for: Established businesses with at least $750,000 in annual revenue, six months of history and a 625+ credit score that need up to $10 million quickly and can handle daily, weekly or bi-weekly payments.

Not for: Smaller or newer businesses, owners who want a price before applying, or anyone already carrying more than one daily-debit loan. A bank line or SBA loan will usually cost less if you qualify.

Lender List verdict: Mulligan Funding is a fast, well-reviewed short-term lender with a high ceiling (up to $10 million) and a free soft-pull application. The catch is that it publishes no rates or fees, and short terms with frequent payments usually mean double-digit APRs, so get the full cost in writing before you sign.

Mulligan Funding at a glance

Mulligan Funding offers short-term business loans of up to $10 million, repaid over 3 to 24 months.

What is Mulligan Funding?

Mulligan Funding is a San Diego online lender, founded in 2008, that makes short-term working capital and term loans of up to $10 million to established businesses. FinWise Bank, an FDIC-insured bank chartered in Utah, issues most of its loans and may have the final say on underwriting.

The private, family-owned company says it is not a broker; United Capital Source puts its total funding above $1.7 billion.

How Mulligan Funding business loans work

A Mulligan Funding loan is a lump sum that you repay in fixed daily, weekly or bi-weekly ACH debits over 3 to 24 months. You apply online for free, a soft credit pull checks your file, and approved funds can be spent on any business purpose.

• Term: 3 to 24 months, set case by case.
• Payments: Fixed amounts debited daily, weekly or every two weeks, not one large monthly bill.
• Draws: Term-loan borrowers can be approved up to their maximum and request extra draws later, subject to new underwriting; Mulligan says fees apply only to money you actually take.
• Speed: Applications sent Monday to Friday, 7 a.m. to 5 p.m. PT, can be approved within hours and funded as soon as that day; the FAQ says funding typically lands the next business day.

Mulligan Funding rates and fees: what it really costs

Mulligan Funding does not publish its interest rates, factor rates or fees; you see pricing only in your offer. SuperMoney lists a fixed APR range of 0% to 99% (last checked in 2024).

• Charged: Pricing set per offer; Mulligan does not publish a fee schedule (reviewers disagree on whether an origination fee applies)
• Not charged: Application fees and prepayment penalties
• Early payoff: Allowed at any time with no new charges; no discount amount is published

Worked example: Mulligan does not quote rates, so we priced a $25,000, 12-month loan at OnDeck's published average term-loan APR of 53.2%, a benchmark rather than a Mulligan quote; OnDeck's average covers 18- to 24-month loans from a lower-revenue pool, and shorter terms typically price higher. Repaid in 52 weekly payments of about $622, you return roughly $32,360, so borrowing costs about $7,360, the same as a payback multiple of roughly 1.29. Compare offers by total payback, not payment size.

Mulligan Funding requirements

Mulligan Funding requires a 625 credit score, six months in business and at least $750,000 in annualized revenue.

Mulligan weighs revenue and cash flow most heavily, and declines businesses with an open bankruptcy or more than one existing daily-debit loan.

Pros and cons

Mulligan Funding's strengths are its $10 million ceiling and same-day funding; its biggest weakness is unpublished pricing.

Pros

• Up to $10 million, far above most online short-term lenders
• Soft credit pull and a free application
• Approval within hours and funding as soon as the same business day
• No prepayment penalty
• 4.9/5 on Trustpilot from 563 reviews

Cons

• No published rates, fees or APR range
• $750,000 revenue minimum shuts out most small businesses
• No early-payoff discount is published

Mulligan Funding vs. OnDeck vs. National Funding

Mulligan Funding lends up to $10 million, versus $400,000 at OnDeck and $500,000 at National Funding, but it also asks for the most revenue.

OnDeck and National Funding figures are from their own sites (third-party where noted), checked 2026-10-26.

Choose Mulligan Funding if you have $750,000+ in revenue and need a large amount fast. Choose OnDeck for a published average APR or a line. Choose National Funding if your revenue is lower.

Mulligan Funding alternatives on Lender List

The closest Mulligan Funding alternatives are OnDeck and National Funding for short-term loans, with Bluevine for a line of credit.

• OnDeck — publishes its average APR; term loans and lines
• National Funding — short-term working capital with daily or weekly payments
• Bluevine — line of credit up to $250,000 with weekly or monthly payments
• Browse all online term loans on Lender List

Frequently asked questions about Mulligan Funding

Mulligan Funding is a legitimate San Diego lender in business since 2008, with most loans issued by FinWise Bank.

Is Mulligan Funding Legit? Yes. Mulligan Funding has lent since 2008, most of its loans are issued by FDIC-insured FinWise Bank, and it holds a 4.9/5 Trustpilot score from 563 reviews; its site displays a BBB A+ rating. Our review sources turned up no FTC or state regulatory action against it.

Is There a Mulligan Funding Lawsuit? No regulatory or class-action case against Mulligan surfaced in our research. Like most short-term lenders, it sues borrowers who default: in one federal collection case in New York, a court entered a $169,594.45 default judgment against a borrower business, so read the default terms closely.

What Are Mulligan Funding's Interest Rates? Mulligan Funding does not publish them; pricing appears only in your offer. SuperMoney lists a fixed APR range of 0% to 99% (checked in 2024). At OnDeck's 53.2% average APR, used as a benchmark and not a Mulligan quote, a $25,000, 12-month loan costs about $7,360.

Is Mulligan Funding a Direct Lender or a Broker? It is a lender, not a broker. Mulligan says it has direct access to capital, while FinWise Bank, an FDIC-insured Utah bank, issues most of its loans and may make the final underwriting call on each application you submit.

How Does Mulligan Funding Work? Mulligan Funding advances a lump sum that you repay in fixed daily, weekly or bi-weekly ACH debits over 3 to 24 months. You apply online with a soft credit pull, and approved businesses can receive funds as soon as the same business day.

Does Mulligan Funding Do a Hard Credit Check? No, not to apply. Mulligan runs a soft pull of your consumer credit report when you apply, so your score is unaffected and applying is free with no obligation. The minimum score is 625, though Mulligan says credit is not its main decision factor.

What Are the Odds of Being Approved With Mulligan Funding? Mulligan does not publish an approval rate. You need $750,000 in annualized revenue, six months in business, a 625 credit score, no open bankruptcy and no more than one daily-debit loan. Applications sent Monday to Friday, 7 a.m. to 5 p.m. PT, get the fastest answer.

Can I Pay Off a Mulligan Funding Loan Early? Yes. You can repay the remaining balance at any time with no prepayment penalty or new charges, and extra payments reduce your balance. Mulligan does not publish an early payoff discount, and United Capital Source reports that none is offered.

Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.