Frequently Asked Questions

Bank loans require strong credit, collateral, lengthy approval processes, and fixed monthly payments. An MCA is approved based primarily on your revenue, requires no collateral, can be funded in 24 hours, and has flexible repayment tied to your sales. It's designed for businesses that need fast capital without the red tape of traditional lending.

A factor rate is how the cost of an MCA is expressed — instead of an interest rate, you multiply the advance amount by the factor rate to get your total repayment. For example, if you receive $50,000 at a factor rate of 1.3, you repay $65,000 total ($50,000 x 1.3). Factor rates typically range from 1.1 to 1.5 depending on your business profile.

The holdback is the percentage of your daily or weekly revenue that goes toward repaying the advance. For example, a 10% holdback means 10 cents of every dollar in sales goes to repayment. A lower holdback means smaller daily payments but a longer repayment period. We work with you to set a holdback that fits your cash flow.

To qualify for funding from Morgan Funding Group, your business needs: (1) at least $10,000 in monthly revenue, (2) at least 6 months in business, and (3) no more than one existing daily debit loan and no open bankruptcies. We work with all credit types — your revenue matters more than your credit score.

No. We only perform a soft credit pull during the pre-qualification process, which has zero impact on your credit score. You can apply and get a quote completely risk-free.

The application is simple. You'll typically need: 3 months of business bank statements, a voided business check, and basic information about your business. Our team will guide you through exactly what's needed after you submit your initial application.

Yes. We evaluate your application primarily based on your business revenue and cash flow, not your personal credit score. Many of our clients have been turned down by banks due to credit issues but have been successfully funded by us because their business revenue qualified.

We fund businesses across virtually every industry including restaurants, retail, construction, transportation, healthcare, auto repair, salons, e-commerce, manufacturing, and more. If your business has consistent monthly revenue of at least $10,000, we want to hear from you.

Once your application is submitted and documents are received, we can approve and fund your advance as fast as the same business day. Our average funding time is 24 hours from application to money in your account.*

We offer advances from $10,000 to $500,000. The amount you qualify for is based on your average monthly revenue. Typically, businesses can qualify for 1–1.5x their average monthly revenue, though this varies based on other factors in your application.

Repayment is collected automatically as a small percentage of your daily or weekly sales via ACH withdrawal from your business bank account. You don't have to think about it or make manual payments. Because it's tied to your revenue, slower business periods mean smaller payment amounts automatically.

Yes. You can pay off your advance early at any time. Ask your funding specialist about early payoff discounts — in many cases we can reduce the total amount owed if you pay off ahead of schedule.

In many cases, yes — this is called a renewal or stacking. Once you've paid off a significant portion of your current advance, you may qualify for a renewal at the same or higher amount. Contact our team to discuss your specific situation.