Mulligan Funding Reviews and Complaints: The Record

Mulligan Funding, LLC is a Delaware company with its principal place of business at 4715 Viewridge Ave., Suite 100, San Diego, CA 92123. It registered in Florida as a foreign LLC on 7/28/2020 (document M20000006720), and a federal court in New York describes it as "a Delaware Limited Liability Company" based in San Diego. The BBB lists David Leibowitz as CEO. Reviewers sometimes call it "Mulligan Financial."

The product changed over time. In 2011 its website said "Our product is not a loan, but instead a merchant cash advance on future credit card receipts," and as late as April 2021 its merchant cash advance page said the advance "isn't a loan; rather, it's an advance payment against your future revenue." The same web address now shows working capital loans, and the site says "The majority of Mulligan Funding, LLC business loans are issued by FinWise Bank, a Utah state-chartered bank." In a 2023 agreement described in court, FinWise was the lender and Mulligan sued "as the duly appointed servicer of the loan." An older balance may be an advance and a newer one a loan; your agreement says which. Our older pages cover the same company: the Mulligan Funding review, sued by Mulligan Funding and Mulligan Funding settlement pages.

The website publishes no rates, fees or origination fee. What it does say:

The one recent agreement we could read in a court record was a $130,000 business loan with a total repayment of $172,900, collected in "50.4 weekly payments, each in the amount of $3,430.55," with a personal guaranty from the owner and Utah law as the governing law. The older merchant cash advance program advertised $5,000 to $500,000 and "Payments based on actual sales." Your contract controls.

BBB complaints. Both complaints in the BBB's three-year window concern payment terms. In March 2025 a restaurant owner who described the product as a merchant cash advance said the early payoff discount offered on a sale of the business was too small; the company answered that it had tried and failed to reach the owner. In December 2023 a customer said a payment arrangement agreed with one representative was overridden by another and the higher amount was debited without authorization; the company answered that its service "did not meet the standards" it aims for and that a remedy was agreed after an executive review.

BBB reviews. Of the five reviews, the three five-star reviews from 2024 and 2026 praise clear, helpful service. The two one-star reviews are specific: one from December 2024 says "the early payoff clause in the contract for interest credit was not honored," and one from December 2023 says a reduced payment of $250 a week had no stated end date and the customer was later told the account was behind. The company replied to both.

Trustpilot. The profile has been claimed since August 2017, the company invites customers to review, and it shows a reply to every negative review. The one-star reviews repeat the BBB themes: early payoff interest credits not applied (December 2024, January 2025), a total amount due not explained before signing (December 2024), difficulty getting a payoff answered (February 2025), unwanted calls and texts (February 2025) and high rates (March 2026). Reviews are reported by the people who post them and are not verified.

The pattern is narrow: only two BBB complaints in the last three years, and both are about how early payoff and payment changes were handled. Put both in writing before you rely on them.

We found no enforcement action naming Mulligan Funding: California's Department of Financial Protection and Innovation site search returns nothing for "Mulligan," and web searches for the company with consent order, attorney general or FTC return nothing naming it. Connecticut, which requires commercial financing providers to register, has no entry under the Mulligan or FinWise name on its October 6, 2026 list; we did not check whether an exemption applies. We did not check California's or Delaware's corporation records or the NMLS.

A CourtListener search finds "Mulligan Funding" in the text of 155 federal dockets, most of them bankruptcy cases that list the company as a creditor. Six cases name it as a defendant, and it brought two in federal court. Allegations are not findings, and the listings do not show the terms of any settlement. If you have been served, our Mulligan Funding lawsuit page covers response options.

• Broussard v. FinWise Bank, Inc., No. 5:21-cv-01238 (W.D. Tex.), filed 12/15/2021 without a lawyer against FinWise, Mulligan Funding, two individual defendants and others. On 5/12/2022 the court sent the claims against FinWise, Mulligan and those individuals to arbitration under "Section 33 of the Business Loan and Security Agreements" and stayed them.
• O'Hare Foundry Corporation, Adv. No. 20-04008 (Bankr. E.D. Mo.), filed 2/5/2020 against several defendants: closed 8/12/2020.
• O & A Enterprises, Adv. No. 22-30007 (Bankr. S.D. Iowa), filed 5/13/2022: stipulated dismissal 11/28/2022.
• Lewis, Adv. No. 22-01221 (Bankr. D. Colo.), filed 8/17/2022: dismissed 12/20/2022.
• McDonnell, Chapter 7 Trustee, Adv. No. 24-01123 (Bankr. D.N.J.), filed 3/7/2024: settlement filed 10/17/2024; closed 12/12/2024.
• The B.L.H.G. Group, Adv. No. 2:25-ap-00195 (Bankr. D. Ariz.), filed 7/2/2025: stipulation and judgment 7/16/2025; closed 8/7/2025.

Mulligan's own suits. Mulligan Funding, LLC v. Mattress Capital, Inc., No. 7:21-cv-00070 (E.D.N.C.), was voluntarily dismissed in June 2021. In Mulligan Funding LLC v. Tommy Interior Contracting Corp., No. 1:23-cv-08808 (E.D.N.Y.), the borrower and its owner defaulted; the court entered judgment for $169,594.45, which included principal, origination fees, a $65 insufficient-payment fee and $39,529.45 of interest, and treated the request for attorney's fees as abandoned.

Mulligan's current loans are built for established businesses, with at least $750,000 a year in revenue, that want a fixed payment schedule and a term of up to two years. Before you sign, ask in writing for the total repayment, the payment amount and frequency, the origination fee, exactly how much interest is credited if you pay early, and whether there is a personal guaranty. If an offer is described as an advance rather than a loan, read is a merchant cash advance a loan first; the MCA calculator and factor rate vs. APR help compare the cost.

1. Collect every agreement, renewal and payment change you signed with Mulligan Funding or FinWise Bank, with the payment history for each, and note whether each one is a loan or an advance.
2. If you want to pay early, ask for a written payoff letter that shows the interest credit; early payoff is the most common complaint in the reviews above.
3. Get any reduced payment in writing with its amount and end date. If you still hold an older advance, see our explainer on MCA reconciliation.
4. Blocking debits or moving your account can be treated as a default under many agreements; check your contract before acting. See stopping daily MCA payments.
5. Check the arbitration and governing-law clauses before you assume where a dispute would be heard; one Texas court enforced the arbitration clause. See whether MCA companies can sue you.
6. If you are weighing bankruptcy, read MCA settlement vs. bankruptcy first.

If you are behind or close to it, see how MCA debt relief works and how Business Debt Adjusters handles a file before you miss a payment.

• Mulligan Funding LLC, Better Business Bureau profile, with its business details, complaints and customer reviews, read October 29, 2026.
• Mulligan Funding reviews, Trustpilot, read October 29, 2026.
• Mulligan Funding, LLC, document M20000006720, Florida Division of Corporations, read October 29, 2026.
• Home page, Working Capital Loans, FAQ and About Us, company website, read October 29, 2026; archived home page, August 2011 and merchant cash advance page, April 2021, Internet Archive.
• Commercial Financing Providers and Brokers Registered in CT, Connecticut Department of Banking, list as of October 6, 2026.
• Mulligan Funding LLC v. Tommy Interior Contracting Corp., No. 23-CV-8808, Report and Recommendation, May 13, 2024 (FindLaw), and the later decisions on govinfo.gov, U.S. District Court, Eastern District of New York.
• Docket listings on CourtListener: Broussard v. FinWise Bank, O'Hare Foundry, O & A Enterprises, Lewis, McDonnell, The B.L.H.G. Group, Mattress Capital and Tommy Interior Contracting.
• CourtListener RECAP search for "Mulligan Funding", run October 29, 2026.