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MCA Application Documents Checklist

Everything you need to apply for a merchant cash advance — organized by required, preferred, and optional. Interactive checklist: check off items as you gather them.

Application Readiness
0 of 7 required items ready
Section 1 — Required (All Funders)
Required 3-6 Months Business Bank Statements
Complete statements — all pages — for the business operating account. Not personal accounts. PDF preferred. Most funders want 4 months minimum; some require 6 for larger advances. Must include: account holder name, account number, all transactions, NSF notations. Downloaded from online banking or requested from branch.
Required Completed Business Funding Application
One-page application collecting: business legal name, DBA (if any), EIN (Employer Identification Number), time in business, estimated monthly gross revenue, owner name, owner SSN (for credit pull), business address and phone. T.A.G. applications take under 10 minutes to complete online.
Required Voided Business Check
A check from the business checking account with "VOID" written across it. Used to verify bank account and routing number for ACH debit setup. Must be from the same account as the bank statements submitted. No starter checks — must be a pre-printed check with account number.
Required Government-Issued Photo ID
Unexpired driver's license or passport for each owner with 20%+ equity stake. Used for identity verification and Know Your Customer (KYC) compliance. Must be clear and fully legible — blurry or partial photos cause delays. Most funders accept a photo of the ID taken with a smartphone.
Required Business License or Formation Documents
Any one of: active business license, articles of incorporation/organization, certificate of good standing, or DBA registration certificate. Used to verify the business is legally registered and in good standing. Sole proprietors may use a Schedule C as evidence of business operation.
Required Credit Pull Authorization
Signature authorizing the funder to run a credit inquiry (soft or hard) on the primary owner. Embedded in the application form. FICO minimum varies by funder (typically 500-550). Ask your ISO whether the funder uses a soft or hard pull before submitting.
Required Personal Guarantee Acknowledgment
Most MCA agreements include a personal guarantee making the owner personally liable for repayment. This is disclosed and acknowledged during application. Read the personal guarantee section of any contract before signing. Ensure you understand what assets are exposed under this guarantee.
Section 2 — Preferred (Improves Offers)
Preferred 3 Months Credit Card Processing Statements
If a significant portion of revenue comes from card processing (retail, restaurant), processing statements help confirm deposit volume and consistency. Some funders offer better rates for businesses with verifiable card processing history since it simplifies split-withholding repayment.
Preferred Most Recent Business Tax Return
Not required for most standard MCA applications but helpful for advances over $100,000. Shows full-year revenue that may not be visible in 3-6 months of bank statements (seasonal businesses). Having it ready prevents a delay if the funder requests it mid-underwriting.
Preferred Business Debt Schedule
A simple list of current outstanding business debts: existing MCAs (funder name, original amount, remaining balance, daily payment), loans, LOCs, equipment financing. Funders underwriting second-position requests need this to calculate total daily debt service coverage. Providing it proactively speeds the process.
Section 3 — Large Advances ($150K+)
Over $150K 2 Years Business Tax Returns
Advances above $150,000 typically require two years of business tax returns for additional revenue verification. Prepare these proactively for large advance requests.
Over $150K Year-to-Date Profit & Loss Statement
A current P&L (accountant-prepared or owner-prepared) helps justify large advance requests, especially for businesses with significant seasonal revenue variations not captured in recent bank statements.
Bank Statement Red Flags to Fix Before Applying
Underwriters read bank statements the same way every time. Know what they look for — and what you can address before submitting.
Good Signs for Approval
  • Consistent deposit frequency (weekly or bi-weekly)
  • Zero or minimal NSF / overdraft activity
  • Stable or growing average daily balance
  • No existing MCA debits (first position)
  • Deposits spread across multiple days (not lump-sum end of month)
  • Account title matches business name on application
Red Flags That Hurt Approval
  • NSF fees in 2 or more of the last 3 months
  • Daily ACH debits that look like existing MCA payments
  • Large end-of-month deposits masking low operating balance
  • Statement from personal account instead of business account
  • Average daily balance less than 1x daily debit amount
  • Account opened less than 3 months ago
What Happens After You Submit
  1. 1
    ISO Packages and Submits (0-1 Hour)
    Your ISO reviews the application package, identifies the appropriate funders for your profile, and submits to multiple funders simultaneously. T.A.G. typically submits to 4-8 funders depending on your profile and advance amount.
  2. 2
    Underwriting (1-4 Hours)
    Each funder's underwriting team analyzes bank statements, runs credit, verifies identity, and checks for existing UCC liens. Clean, complete packages move faster. Missing documents cause delays.
  3. 3
    Offers Returned (2-4 Hours)
    Funders return approval offers with factor rate, advance amount, daily debit, and estimated term. Your ISO presents competing offers and advises on the strongest combination. You can negotiate on factor rate, advance amount, and term.
  4. 4
    Contract Review and Signing (30 Min)
    Review the contract: verify total repayment, daily debit, term, COJ clause, UCC-1 confirmation, stacking restrictions, and personal guarantee. Sign only after reviewing all terms. Use our before you sign checklist.
  5. 5
    Funding (Same Day or Next Day)
    After contract execution, the advance is wired to your business bank account. Same-day funding is possible for applications completed by mid-morning. Most fund next business day.
Frequently Asked Questions
What documents do you need to apply for a merchant cash advance?
Required: 3-6 months business bank statements, completed funding application, voided business check, government-issued photo ID, and business license or formation documents. Preferred: credit card processing statements, business debt schedule. Large advances ($150K+): two years tax returns and current P&L.
How quickly can you get approved for a merchant cash advance?
Initial offers typically return within 2-4 hours of submission during business hours. Same-day funding is possible for clean applications submitted early. Next-day funding (next business day) is standard. Complex profiles or large advance requests may take 24-48 hours.
Does applying for an MCA hurt your credit?
It depends on the funder. Some use soft pulls (no credit impact), others hard pulls (5-10 point temporary dip). Ask your ISO before submitting. Multiple hard pulls for the same credit type within 45 days are typically treated as one inquiry by FICO.

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