Mulligan Funding

What Mulligan Funding does

Mulligan Funding is a privately held, family-owned alternative lender founded in 2008 and headquartered in San Diego, California. The company provides working capital loans and small business term loans to U.S. small and medium-sized businesses, with loan sizes up to $10 million and terms ranging from 3 to 24 months. Its target borrowers are established SMBs with at least $750,000 in annualized revenue and a minimum of six months in business, and it serves all 50 states plus Washington, D.C.

The company's technology stack centers on a digital application portal with streamlined documentation, automated underwriting workflows, and an online loan checkout platform, supplemented by a Plaid integration for bank-account verification. Underwriting is deliberately human-led: Mulligan emphasizes a team of human underwriters and dedicated loan advisors that review each business's situation rather than relying solely on automated or AI-driven decisioning. Recent hiring for data science and AI transformation roles, along with a San Francisco office, indicates incremental investment in analytics and funnel-optimization capabilities layered on top of the existing human-driven model. Loans are originated primarily through a partnership with FinWise Bank, a Utah state-chartered, FDIC-member bank, a structure Mulligan has used since January 23, 2020, when it transitioned away from operating solely as a direct lender.

Mulligan Funding operates a multi-channel go-to-market model combining phone-based inside sales (855-326-3564), a self-serve online application, ISO and affiliate partner programs, and embedded marketplace integrations with platforms such as Avetta, Nuula, and DentiRate. Its revenue is generated through one-time fees on originated working capital and term loans, with a renewal program that produces recurring revenue from repeat borrowers on increasingly favorable terms. The company has filed SEC Form D exempt securities offerings of $10 million (August 2022) and $5 million (May 2023), and holds a Better Business Bureau A+ rating and a 2022 'Best Places to Work SoCal' recognition.

Name

Mulligan Funding

Legal name

Mulligan Funding, LLC

Website

https://mulliganfunding.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Mulligan Funding is a privately held, family-owned alternative lender providing working capital and term loans up to $10 million to small and medium-sized U.S. businesses across all 50 states, originated primarily through a FinWise Bank partnership.

Ownership category

akta.pro rank

Product category

Small Business Lending

NAICS

Other Nondepository Credit Intermediation (52229), Credit Intermediation and Related Activities (522), Activities Related to Credit Intermediation (5223)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SME Term Loans & Growth Capital (FSAKAGAB)

akta.pro secondary industries

Microloans & Working Capital Loans (FSAKAGAA), Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

Keywords

• Small business lending
• Working capital loans
• Merchant cash advance
• SMB financing
• Alternative business lending

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Working Capital Loans: Short-term business loans providing funds for day-to-day operations including payroll, vendor payments, taxes, and other overhead. Loan amounts up to $10 million with terms of 3-24 months. Repayment through small daily, weekly, or bi-weekly fixed ACH payments.
2. Small Business Term Loans: Higher dollar amount loans with longer terms than working capital options. Features ability to access additional draws if needed, with fees only on funds actually accessed. No prepayment penalty.
3. Loan Renewals: Existing clients with good repayment history can be considered for expedited approval of additional cash before completing initial program. Renewals become more streamlined and terms may become more favorable with each renewal.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Mulligan Funding provides small and medium-sized businesses with access to working capital through short-term Working Capital Loans and longer-term Small Business Term Loans of up to $10 million, with terms ranging from 3 to 24 months. Loans are originated primarily through a partnership with FinWise Bank, a Utah state-chartered bank, and feature human underwriting, soft-pull credit checks, and same-day funding capabilities. The company also offers a Renewal Program for repeat borrowers with streamlined approval.

Product overview

Mulligan Funding operates as a direct lender providing small and medium-sized businesses with access to working capital loans and term loans, both capped at $10 million with terms of 3-24 months. The core product offerings consist of Working Capital Loans (the most popular product for short-term operational needs) and Small Business Term Loans (for larger capital investments with flexible draw and repayment options). The company also offers a Renewal Program enabling existing clients with good repayment history to access expedited additional funding. Loans are primarily originated through FinWise Bank, a Utah state-chartered bank, Member FDIC. The company emphasizes human underwriting over automated decisioning and serves businesses nationwide across all 50 states plus D.C.

Differentiator

Problem solved

Functional benefit

Products and services

• Working Capital Loans

Quantifiable outcome

• Approval within hours for completed applications
• +4 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• DentiRatecoreGTM or Marketing Partner · 3 November 2025DentiRate announced a practice growth financing program through Mulligan Funding, providing dental practices with faster access to working capital. The program allows practices to obtain funding quickly for payroll, equipment, acquisitions, or partnership buyouts, often on the same day of application.
• NuulacoreGTM or Marketing Partner · 19 May 2022Nuula, a fintech company focused on providing small businesses with tools and capital, partnered with Mulligan Funding to offer Term Loans of up to $10MM through the Nuula app. Small businesses and entrepreneurs can access Mulligan Funding's term loan product directly within the Nuula platform.
• AvettacoreGTM or Marketing Partner · 2 December 2020Avetta, the leading provider of supply chain risk management, partnered with Mulligan Funding to provide U.S. supply chain companies with options to secure loans for their businesses. Avetta clients and suppliers can access Mulligan Funding's services through the Avetta Marketplace, allowing them to lock in significant cost savings compared to other funding options.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BlueVine: BlueVine is a fintech providing working capital, lines of credit, and term loans to U.S. SMBs — directly comparable to Mulligan Funding's core products of working capital and term loans up to $10M, with a similar online application and fast-approval positioning.
• OnDeck: OnDeck originates short-term working capital and term loans to SMBs and was acquired by Enova, making it one of the most direct comparables in online SMB lending along product lines, ticket sizes, and target segments overlapping with Mulligan.
• Fundbox: Fundbox provides working capital advances and lines of credit to small businesses via a digital platform, directly comparable to Mulligan's working capital loans with similar short-tenor, fixed-payment structures and SMB focus.
• Credibly: Credibly is a direct SMB funder offering working capital loans, term loans, and lines of credit to U.S. small businesses, closely matching Mulligan's product mix, ticket range, and inside-sales-led distribution model.
• Lendio: Lendio operates an SMB loan marketplace aggregating multiple lenders, serving the same end customer (sub-$10M revenue SMBs) that Mulligan serves, but via a broker/aggregator model rather than direct balance-sheet lending.
• CAN Capital: CAN Capital is a long-tenured direct provider of working capital and small business loans to SMBs, with product structure and target market nearly identical to Mulligan Funding's core offerings.
• Rapid Finance: Rapid Finance provides working capital and SBA loans to U.S. SMBs through direct and partner channels, overlapping Mulligan's product set, SMB target segment, and inside-sales-plus-partner distribution.
• Biz2Credit: Biz2Credit is an SMB lending marketplace and direct funder serving small businesses with working capital and term loans, comparable to Mulligan's product set and SMB customer base.
• Fundation: Fundation provides small business term loans and lines of credit to U.S. SMBs through a digital platform and partner channels — closely aligned with Mulligan's term loan product and SMB target customer.

Broad incumbents

• Funding Circle: Funding Circle is a larger, publicly-traded SMB lending platform operating in the U.S. and U.K., offering term loans to small businesses — a broader-incumbent comparable to Mulligan given product overlap but larger scale and public-market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/MulliganFunding

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mulligan Funding