I'm an ISO trying to decide which to lead with for a $40K, 580 FICO restaurant deal — which?

Both will fund. Mulligan if the merchant prefers a structured term loan and can clear 9+ months TIB. Accord if the merchant is under 9 months TIB or has recent NSFs that disqualify a Mulligan submission. Run both in parallel and let the merchant pick on terms — Accord's faster commission payment (next day) is a plus for ISO cash flow.

I'm a merchant doing $100K/mo and got both offers — which?

Compare total payback. Mulligan's likely 1.25 – 1.35 factor at this file grade beats Accord's likely 1.35 – 1.45. On $50K funded that's $5K – $10K in savings. Take Mulligan unless you specifically want the smaller deal size for cash-flow reasons.

Do both fund second and third position MCA?

Accord explicitly funds 1st, 2nd, and 3rd position MCA — that's a core part of their book. Mulligan funds primarily 1st position; second position requires case-by-case underwriting. Stacked deals favor Accord; clean first-position deals favor Mulligan on pricing.

Accord Business Funding vs Mulligan Funding — honest comparison 2026

Both fund small businesses. They solve different problems. Here's the honest side-by-side, then five use-case verdicts so you don't have to guess.

The specs

Accord Business FundingMulligan Funding

Product typeMCAMulti-product

Amount range$5K – $150K$5K – $2M (across products)

Cost (factor / APR)Factor varies by paper gradeFactor 1.20 – 1.49 (MCA); APR varies on term loan + LOC

Speed to fundNext-day for approved filesFunding in 24 – 48 hours after underwriting

Min time in business3 months9 months

Min monthly revenueFlexible — no published floor$10,000

Min credit scoreFlexible — accepts B/C-paper525+

Products

MCA (1st / 2nd / 3rd position)

Short-term business loan
MCA
Working capital LOC

Verdicts by use case

Newer business (3 – 9 months) — Winner: Accord Business Funding. Accord's TIB floor goes to 3 months. Mulligan wants 9+ months. Sub-9-month merchants are Accord-only in this pair.
Larger deal size ($150K+) — Winner: Mulligan Funding. Mulligan funds up to $2M across products. Accord caps at $150K. For sizable capital needs, Mulligan wins outright.
Best renewal commission (for ISOs) — Winner: Accord Business Funding. Accord pays 100% commission on renewals plus 15% on new deals with next-day payment — unusual in the market. Mulligan's commission tiers are competitive but standard. ISOs optimizing for renewal economics favor Accord.
Cheaper factor on A-paper — Winner: Mulligan Funding. Mulligan publishes 1.20 – 1.49 factor range. Accord doesn't publish factor ranges and generally prices higher for the B/C-paper they specialize in. A-paper merchants find better pricing at Mulligan.
Multi-product flexibility (term + LOC) — Winner: Mulligan Funding. Mulligan offers MCA, short-term loan, and working capital LOC under one underwriter. Accord is MCA-only. Merchants who might want a term loan structure favor Mulligan.

The honest takeaway

Accord Business Funding and Mulligan Funding solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.

Frequently asked questions

I'm an ISO trying to decide which to lead with for a $40K, 580 FICO restaurant deal — which?: Both will fund. Mulligan if the merchant prefers a structured term loan and can clear 9+ months TIB. Accord if the merchant is under 9 months TIB or has recent NSFs that disqualify a Mulligan submission. Run both in parallel and let the merchant pick on terms — Accord's faster commission payment (next day) is a plus for ISO cash flow.
I'm a merchant doing $100K/mo and got both offers — which?: Compare total payback. Mulligan's likely 1.25 – 1.35 factor at this file grade beats Accord's likely 1.35 – 1.45. On $50K funded that's $5K – $10K in savings. Take Mulligan unless you specifically want the smaller deal size for cash-flow reasons.
Do both fund second and third position MCA?: Accord explicitly funds 1st, 2nd, and 3rd position MCA — that's a core part of their book. Mulligan funds primarily 1st position; second position requires case-by-case underwriting. Stacked deals favor Accord; clean first-position deals favor Mulligan on pricing.