# MCA funder multi-location business pricing > Multi-location business MCA pricing aggregates revenue across multiple operating entities owned by the same merchant — typically 2–10 locations — to underwrite a single consolidated advance that uses combined cash flow as the revenue base, enables larger advance sizes ($250K–$2M), and structures repayment via percentage-holdback across all entities' bank accounts. Multi-location business pricing is the underwriting practice of consolidating financial data from multiple operating entities under common ownership into a single MCA transaction. This serves merchants who own multiple restaurants, retail stores, service locations, or franchise units — financing needs at the holding-company level may exceed what any single entity supports. **The qualifying criteria.** - **Common ownership:** Single owner or common-controlled group across all entities. - **Entity structure:** Each location operates as separate LLC, corporation, or DBA. - **Bank account structure:** Each entity has its own bank account; combined statements required. - **Operational integration:** Entities typically share back-office, branding, supply chain. - **Combined revenue:** $50K+/month minimum (often $100K+ for meaningful multi-location pricing). - **Time in business:** 18+ months for the combined entity; individual locations may be newer if part of a multi-location expansion. **The structural advantage.** Multi-location aggregation enables: - **Larger advance sizes.** A 3-restaurant operator with $90K combined monthly revenue can access $90K–$225K advance, vs. perhaps $25K–$50K per individual location. - **Better pricing.** Aggregated revenue often qualifies for A-paper pricing even if individual locations would be B-paper. - **Diversified risk.** Funder gets risk spread across multiple locations rather than concentrated in one. - **Easier underwriting.** Single application instead of multiple parallel applications. **The pricing model.** Multi-location pricing typically applies: - **Factor rate:** Based on combined-entity paper grade, often 1.22–1.32. - **APR-equivalent:** 45%–80%, depending on tier. - **Holdback structure:** Percentage holdback applied across all entity accounts (e.g., 10% of daily deposits across all entities). - **Term length:** 6–12 months typical. - **Advance size:** $50K–$2M based on combined revenue. - **ISO commission:** 8%–12% of funded amount. **The underwriting workflow.** Multi-location underwriting requires: - **Bank statements for all entities** — typically 3–6 months per entity. - **Common-ownership documentation** — operating agreements, corporate filings, ownership structure. - **Personal guarantees from all owners** — typically the holding-company principals. - **Combined revenue calculation** — sum of deposits across all entities, with adjustments for inter-entity transfers (which would otherwise double-count). - **UCC searches against all entities** — each location must be checked separately. - **Risk concentration analysis** — does any single location dominate revenue? What is the impact if one location closes? **Worked example.** Multi-restaurant operator with 4 quick-service restaurants in Florida: 690 FICO, 24 months total in business (3 locations operating 18+ months, 1 location 9 months), $180K/month combined deposits ($65K + $52K + $42K + $21K across locations). Applies for $250K advance: - **Underwriting:** Combined statements verified, common ownership confirmed via operating agreements, personal guarantees from two principals, UCC searches clean across all entities. - **Offer:** $225K advance at 1.28 factor, 10-month term, 9% combined-entity holdback, 11% ISO commission. - **Daily debit structure:** 9% of daily deposits across all 4 locations, automatically debited from each location's account daily. **The holdback mechanics.** Percentage-holdback across multi-location entities requires sophisticated daily reconciliation. Funders typically use: - **Lockbox account structure** — all daily deposits sweep to a holding-company lockbox; funder takes percentage before remitting to operating accounts. - **Per-location debit structure** — funder debits each location's account daily based on that location's deposits. - **Hybrid structure** — primary debit from holding-company account, secondary debits from individual locations as backup. **The default mechanics.** Multi-location default scenarios are complex: - **Single-location closure** — one of the 4 locations closes; funder restructures debit across remaining 3. - **Underperforming location drag** — one location chronically below revenue projections; funder may require equity injection or location closure. - **Holding-company bankruptcy** — affects all entities; funder enforces personal guarantees and cross-collateral provisions. **The funders who specialize in multi-location pricing.** Multi-location pricing is offered by larger MCA funders with sophisticated underwriting infrastructure: Forward Financing (multi-location desk), Credibly, Kapitus, Reliant Funding, OnDeck Capital, plus vertical specialists like Toast Capital (restaurant multi-unit) and franchise-specialist funders. Smaller balance-sheet shops typically don't write multi-location deals due to underwriting complexity. **The ISO implications.** - Multi-location deals are large-ticket transactions; ISO commissions are meaningful even at standard percentage rates ($20K–$200K commission per deal). - Multi-location merchants are sophisticated buyers; pricing competition is intense. - Renewal economics are exceptional — multi-location merchants typically renew on schedule and grow advance sizes over time. **Common confusions.** First, "Multi-location pricing is automatic for multi-entity merchants." False — many multi-location merchants get underwritten as single-entity if they apply that way; aggregation requires explicit structuring. Second, "Multi-location pricing requires franchise structure." False — independently-owned multiple locations qualify equally. Third, "Multi-location aggregation hides weak performers." Partially true — aggregation does smooth over single-location weakness, but underwriters analyze individual location performance during diligence. Fourth, "Multi-location pricing is the same as franchise pricing." False — franchise pricing has specific franchisor-relationship considerations; multi-location is broader. Fifth, "Multi-location merchants always get A-paper pricing." False — paper grade still depends on credit, revenue stability, and other factors; multi-location aggregation often enables better pricing but doesn't guarantee A paper. **The strategic takeaway.** Multi-location merchants should structure MCA applications explicitly as aggregated transactions to access larger advance sizes and better pricing. ISOs working with multi-location merchants should partner with funders that specialize in multi-entity underwriting. Renewal economics make multi-location relationships particularly valuable for long-term ISO portfolios. ## Related terms - [MCA multi-merchant aggregation](https://fundnode.co/llms/glossary/mca-multi-merchant-aggregation) — Multi-merchant aggregation is when a single business owner consolidates MCA financing across multiple business entities they own (separate restaurants, multi-location franchise, multi-truck trucking operation) into a single advance underwritten on combined revenue and secured by guarantees on all entities. Used to access larger advance amounts ($500K+) than any single entity would qualify for individually. - [MCA funder franchise business pricing](https://fundnode.co/llms/glossary/mca-funder-franchise-business-pricing) — Franchise business MCA pricing accounts for the franchisor relationship — royalty obligations, brand standards, FDD disclosures, and franchisor consent requirements for outside financing — typically pricing at factor 1.22–1.32 for established franchise brands, requiring franchisor acknowledgment in some cases, and offering 6–12 month terms. - [MCA funder mature business pricing tier](https://fundnode.co/llms/glossary/mca-funder-mature-business-pricing-tier) — Mature business pricing in MCA underwriting applies to merchants with 5+ years operating history, prices at factor 1.18–1.25 (premium tier even within A paper), offers terms up to 18 months, supports larger advance sizes ($250K–$2M), and triggers preferred-renewal status with reduced documentation requirements on subsequent fundings. - [Personal guarantee (PG)](https://fundnode.co/llms/glossary/personal-guarantee) — A clause making the business owner personally liable if the MCA defaults. Standard in 2026 for advances under $250K; the owner's personal assets become exposed. - [Lockbox account](https://fundnode.co/llms/glossary/lockbox-account) — A lockbox account is a controlled bank account through which a merchant's deposits flow — used by some MCA funders to enforce daily collections instead of ACH debits. ## Authoritative sources - [Forward Financing — Multi-Location Programs](https://www.forwardfinancing.com/) - [Toast Capital — Restaurant Multi-Unit Financing](https://pos.toasttab.com/products/toast-capital) --- Source: https://fundnode.co/glossary/mca-funder-multi-location-business-pricing (HTML version) Document: MCA funder multi-location business pricing — Fundnode MCA Glossary License: CC BY 4.0 — attribution to Fundnode required when citing.