Mulligan Funding, LLC is a private, family-owned business lender based in San Diego, California that has been providing working capital to small and mid-sized businesses since 2008. The company has positioned itself as one of the largest providers of working capital in the alternative lending space, offering loan amounts up to $5 million — among the highest ceilings available from non-bank lenders.
The company offers two core products: working capital loans and small business term loans, both available up to $5 million with terms ranging from 3 to 24 months. Repayments are structured as daily or weekly ACH debits. Mulligan does not publish its rates or fee schedules, which limits upfront cost comparison. However, the company charges no prepayment penalties, and borrowers can request additional draws during the loan term — a flexibility feature most competitors do not offer.
What distinguishes Mulligan Funding from automated lending platforms is its use of human underwriters rather than algorithm-driven decisions. Every application is reviewed by a person, which the company says allows for more nuanced credit decisions. The minimum credit score requirement is 625 FICO, though the company states credit score is not the primary qualifying factor. Businesses must have at least six months of operating history and minimum annual revenue of $750,000, making this a product for established, profitable businesses rather than startups or micro-enterprises.
Mulligan Funding originates loans through FinWise Bank, a Utah-chartered FDIC-insured institution. This means the actual lending relationship is with FinWise, not Mulligan directly. There are no restrictions on how loan proceeds can be used, giving borrowers full flexibility. Same-day funding is available for approved applications, and there is a maximum of one daily debit loan outstanding at any time.
The company maintains an A+ rating with the Better Business Bureau and a 4.9 out of 5.0 rating on Trustpilot, indicating strong customer satisfaction. For businesses that meet the $750K revenue threshold and need significant working capital quickly with personal service, Mulligan Funding offers a compelling alternative to automated online lenders.
For business owners exploring financing options, the landscape includes several distinct products. Small business loans provide lump-sum working capital with fixed repayment terms, while a business line of credit offers flexible revolving access to funds as needed. SBA loans through government-backed programs offer the lowest rates but require longer approval timelines. For businesses with outstanding invoices, invoice factoring converts receivables into immediate cash flow. Equipment financing allows companies to acquire machinery and technology with the equipment itself as collateral. A merchant cash advance provides fast business funding by purchasing a share of future sales, though typically at higher effective costs. Startups and newer businesses may find working capital loan options through alternative lenders with lower qualification requirements than traditional banks.
