Straight answers about business funding
Short, plain-English answers to the questions merchants and brokers actually ask us — what an advance is, what it costs, who qualifies, how fast money moves, and how partners get paid. Every number below comes from our own published criteria and terms.
What a merchant cash advance actually is
Start here if you have never taken revenue-based funding before.
What is a merchant cash advance?
A merchant cash advance is not a loan. A funder buys a fixed amount of your future revenue at a discount and advances you the cash today. You repay a set total through small automatic payments taken from your business checking account — daily on business days, or weekly — until the agreed amount is delivered. Approval is based mainly on your bank statements rather than your credit score.
How is an MCA different from a business loan?
A loan has an interest rate, a fixed term and an amortization schedule. An advance has a factor rate and a fixed payback total that does not change if you pay it off early or late. Loans are usually reported to credit bureaus and take weeks to close; advances are typically funded in 48 to 72 hours and are underwritten from bank deposits.
What is a factor rate and how do I calculate the cost?
A factor rate is a multiplier, not a percentage rate. Multiply the advance by the factor rate to get the total payback. A $50,000 advance at a 1.30 factor rate means $65,000 repaid — a $15,000 cost. Divide the payback by the number of payments to see the daily or weekly amount. Our calculator does this for you at workablefunding.com/calculator.
How much does a merchant cash advance cost?
Cost is expressed as the factor rate applied to the advance, plus any origination fee disclosed in your contract. Stronger files — longer time in business, consistent deposits, few or no existing positions — get lower factor rates. You see the exact advance amount, payback total, payment size and payment count in writing before you sign anything.
Who qualifies, and what you need to apply
The same criteria our underwriters use every day.
What do I need to qualify for funding with Workable Funding?
Four things: at least 6 months in business, $15,000 or more in average monthly revenue, a 500 or higher personal FICO score, and an active business checking account. Files that meet all four approve at roughly 65% to 75%. These are the same criteria our underwriters use, published at workablefunding.com/iso-partners/criteria.
What documents do I need to apply?
To get a decision you need the online application and your three most recent months of business bank statements as PDFs. Depending on the file we may ask for a fourth month, a zero-balance letter, or proof of ownership. A photo ID and a voided check are only requested after you accept an offer.
Can I get funded with bad credit?
Often yes. We underwrite from bank statements, so revenue consistency matters more than your credit score. The published floor is a 500 personal FICO. Credit below that, open bankruptcies, or a recent default can still block an approval, but a low score alone does not disqualify you.
Will applying hurt my credit score?
No. Submitting an application to Workable Funding does not affect your personal credit score. The decision is based on your business bank statements.
Can I get funding if I already have another advance?
Yes — additional positions are common and we fund them case by case. Disclose every existing position up front. Hidden positions are the fastest way to lose an approval, and the deposits and withdrawals in your statements make them visible anyway.
How the funding process works
How fast can a small business get funded?
Files submitted with complete documents during business hours get a formal offer within about 90 minutes. Same-day approvals are common, and funds typically reach your account within 48 to 72 hours of approval. The slowest part is almost always waiting on bank statements from the merchant.
How much funding can my business qualify for?
Workable Funding advances $10,000 to $2 million. As a rule of thumb most businesses qualify for roughly one to one-and-a-half times their average monthly revenue, adjusted for existing positions, industry and time in business.
How are payments taken?
Payments are taken automatically by ACH from your business checking account. Daily payments are collected on business days only — about 22 a month — and weekly payments come out once a week, about 4.33 times a month. Your exact payment amount and count are stated in the contract.
What can the money be used for?
Anything the business needs: payroll, inventory, equipment, expansion, marketing, taxes, repairs, or covering a slow season. There is no restriction on use and no requirement to document how you spend it.
ISO, broker and referral questions
How deals are submitted and how commissions are paid.
How do ISOs and brokers earn commission on a deal?
Contracted ISO partners earn a per-file commission on every funded deal — a 12-point spread pays $12,000 on a $100,000 advance — with your exact payout confirmed in writing at approval. Volume bonuses stack at 10+ and 25+ funded deals a month. Commissions are paid 15 business days after funding on a twice-monthly Thursday payout run.
What is the difference between a referral partner and an ISO?
A referral partner simply sends us the business and we do all the selling and closing, earning $500 when their first file funds, plus $500 more if they fund three files within 90 days — no agreement to sign. An ISO sells, negotiates and manages the file, earns a per-file commission, and gets a dedicated account manager after signing the ISO agreement.
What does an ISO need to submit a deal?
The merchant application and the last three months of business bank statements. A fourth month, a zero-balance letter or additional corporate documents are requested only when underwriting needs them. Photo ID and banking documents come after the merchant accepts an offer.
How does a broker get signed up with Workable Funding?
Register at workablefunding.com/iso-partners/register. The form takes about five minutes, the ISO desk verifies your details within one business day, and you then complete secure onboarding — W-9, ID and banking details — before your first submission.
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