Last reviewed: October 2, 2026
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.
Summary verdict
Mulligan Funding, based in San Diego, offers business loans of up to $10,000,000 with terms of 3 to 24 months; most are issued by FinWise Bank (Mulligan Funding).
Paper Grade: B paper
Mulligan requires at least $750,000 in annualized revenue, 6 months in business, no more than one daily-debit loan, and no open bankruptcies (Mulligan Funding). It publishes no credit minimum. A high revenue floor, limited stacking and short-term loans point to B paper. Paper grade describes the borrower profile this lender targets, not the lender's quality.
Research-Based Reputation Score: 8.0 / 10 (reputation rank: tied #4 of 72 lenders scored, as of October 2, 2026)
How we got there: start at 5.0, then +1 for BBB accreditation (since November 20, 2009) with an A+ (BBB), +1 because BBB lists the business as started in 2008, and +1 because we found no regulator orders or court judgments against it. BBB customer reviews average 3.4/5 from 5 reviews, and there were 2 complaints in three years (BBB), so no deductions. We could not read Mulligan's Trustpilot page, so it was not scored. Our evidence is thin, so this score is lower-confidence.
About the Paper Grade: it reflects only the borrower profile and deal type the lender targets (stated credit, time-in-business and revenue minimums, and product type). It is not a judgment of the lender's quality. A = strong credit (about 625–650+), established businesses, APR-priced loans or lines. B = fair credit (about 600+), short-term or factor-rate products. C = credit about 500–599, younger businesses, MCA or revenue-based, or sales-based platform financing with no credit check. D = minimal credit requirements, very new businesses, stacked positions or high-risk industries. Lawsuits and regulator actions never change the Paper Grade.
About the Research-Based Reputation Score (1–10, half-points): it summarizes public signals and is not the opinion of MCAFax. Every lender starts at 5.0. Points are added for BBB accreditation and an A+ rating, years in business, strong Trustpilot ratings, and a clean record (no regulator orders or court judgments in which the lender itself is a named party). Points are subtracted for a BBB rating of C− or lower (−1), a BBB customer-review average below 2.5/5 (−0.5), recurring complaint themes (−0.5 to −1), and a pending class action (−0.5). Government actions are scored only when the lender itself is a named party: −1 for a settled action not about borrowers, −2 for a regulator consent order with a penalty and no admission, −3 for active enforcement or a final order about borrower treatment, and −5 for an industry ban or court finding of liability. The lowest score, 1.0, is reserved for lenders under an industry ban or a final fraud judgment. Ratings we could not read score zero, and routine collection suits are not scored. Every point applied to this lender is listed above. Ranks are as of the date shown; MCAFax cannot confirm or deny any allegation counted here.
At a glance
| Item | Details |
|---|---|
| Product | Business loans; up to $10,000,000; 3 to 24 months (Mulligan Funding) |
| Minimums | $750K+ annualized revenue, 6+ months, no more than one daily-debit loan, no open bankruptcies (Mulligan Funding) |
| Issuer | Most loans issued by FinWise Bank (Mulligan Funding) |
| BBB | A+, accredited since 11/20/2009; 3.4/5 from 5 reviews; 2 complaints in 3 years (BBB) |
What borrowers and reviewers report
- BBB reviews are mixed but few. Recent ones praise clarity and helpfulness, and one older review calls the company "horrible" (BBB reviews).
Who it may suit, and who may want to skip it
May suit: larger small businesses ($750K+ revenue) that want fast, sizable short-term loans. May want to skip: smaller businesses, or those already carrying a daily-debit loan.
What to do next
Been contacted by Mulligan Funding? Report the phone number or email that reached you, and sign up to block unwanted funding calls. → Report a number or email (https://mcafax.com/report?lender=mulligan-funding)
Looking for funding? Tell us what you need, and we'll help you compare Mulligan Funding with other funders that fit. → Apply through MCAFax (https://mcafax.com/apply?lender=mulligan-funding)
Sources (accessed October 2, 2026)
Mulligan Funding business loans page: mulliganfunding.com
BBB profile: https://www.bbb.org/us/ca/san-diego/profile/small-business-loans/mulligan-funding-llc-1126-171989767
BBB customer reviews: https://www.bbb.org/us/ca/san-diego/profile/small-business-loans/mulligan-funding-llc-1126-171989767/customer-reviews
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.