At a Glance
Rating Breakdown
About Accord Business Funding
Founded in 2012 and headquartered in New York City, Accord Business Funding is a direct merchant cash advance funder that has provided over $500 million to small and medium-sized businesses across the United States. The company operates with its own balance sheet capital supplemented by institutional credit facilities, which allows it to set its own underwriting criteria and modify repayment structures without third-party approval. Factor rates typically range from 1.15 on strong first-position deals with $30K+ in monthly revenue to 1.45 on weaker profiles or businesses under $15K monthly deposits. Holdback percentages are not used in the traditional split-withholding sense; instead, Accord structures fixed daily or weekly ACH debits calibrated to approximately 10-15% of average daily deposits. Advance amounts start at $5K and cap at $400K, though the practical ceiling for most first-time applicants is $150K-$200K based on a 1.0x-1.3x multiple of average monthly revenue. Accord's distinguishing feature is their willingness to restructure repayment mid-term. If a business experiences a documented revenue decline of 20% or more, Accord's workout team can reduce daily payments by 25-40% and extend the term, typically adding 2-4 months. This is unusual among direct funders, most of whom treat the MCA contract as non-negotiable once signed. However, restructuring is not automatic: businesses must provide updated bank statements proving the downturn, and Accord files a UCC-1 blanket lien on all business assets as standard practice. Renewal offers typically become available once 50-55% of the advance is repaid, and returning clients with clean repayment history can expect factor rate improvements of 0.03-0.07 per cycle. The company does not fund businesses with open bankruptcy filings or active default judgments from other MCA providers, and they require a personal guarantee from all owners with 25%+ equity. Accord occupies a specific niche: businesses that need repayment flexibility but do not qualify for the lowest rates. Mid-term restructuring is rare in this industry and especially valuable for seasonal businesses, construction companies, and any operation where revenue swings are normal. Initial factor rates of 1.25-1.45 for first-time borrowers are a meaningful premium, and the best rates (1.15-1.20) only appear after multiple clean renewal cycles. If your profile is strong enough for OnDeck, Credibly, or Libertas Funding, compare before accepting a higher rate for flexibility you may not need.
Key Features
Customizable Repayment Schedules
Accord offers daily, weekly, and bi-weekly ACH repayment frequencies, which is uncommon among direct MCA funders that typically mandate daily-only debits. The specific frequency is locked at contract signing and calibrated so that total monthly repayment stays within 10-15% of average monthly deposits. Businesses with strong seasonal patterns, such as landscaping or tourism-related companies, can negotiate front-loaded or back-loaded payment curves that align higher payments with peak revenue months.
Mid-Term Restructuring
If a business can document a revenue decline of 20% or more through updated bank statements, Accord's workout team will evaluate a temporary payment reduction of 25-40% with a corresponding term extension of 2-4 months. This restructuring does not require a new contract or additional fees, though it does reset the renewal clock. Most MCA funders treat restructuring requests as default triggers; Accord treats them as retention opportunities, which is why their default rate has stayed below 8% according to industry estimates.
Bank Statement Underwriting
Accord's underwriting is driven by 90-day bank statement analysis rather than FICO scores. They evaluate average daily balance, deposit frequency and consistency, NSF occurrence rate (they tolerate up to 3 NSFs per month), and the ratio of debits to credits. A business with a 520 credit score but consistent \$2K+ daily deposits will typically qualify, while a business with a 720 score but erratic deposits and frequent negative balances may be declined. The minimum threshold is roughly \$10K in monthly deposits and 6 months time in business.
Dedicated Funding Specialist
Each client is assigned a named funding specialist who handles the relationship from initial application through repayment and renewal. This specialist has authority to approve minor modifications like payment date shifts or one-time payment deferrals without escalation. For businesses working through brokers, the specialist also communicates directly with the ISO. This is a genuine operational advantage for businesses that need a responsive contact rather than a generic support queue.
Renewal Programs
Accord's renewal program activates once 50-55% of the current advance balance is repaid. Returning clients with clean repayment history (no missed payments, no restructuring on the current advance) can expect factor rate improvements of 0.03-0.07 per renewal cycle. A first-time borrower at a 1.30 factor rate might see 1.25 on their second advance and 1.20 on their third. Maximum advance amounts also increase, typically by 20-30% per cycle, up to the \$400K cap.
How It Works
Apply Online
Complete the brief online application and upload your last 3 months of business bank statements for review.
Speak with a Specialist
An Accord funding specialist reviews your application and discusses your business needs and preferred repayment structure.
Review Your Offer
Receive a customized offer detailing your advance amount, factor rate, total repayment, and chosen repayment schedule.
Get Funded
Accept the offer electronically and receive funds deposited into your business bank account within 24 to 48 hours.
What They Do
- Merchant Cash Advance
- Revenue-Based Financing
- Business Cash Advance
- Working Capital Advance
Debt Types They Take On
- Merchant Cash Advance
- Revenue-Based Financing
- Working Capital
- Short-Term Business Funding
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Seasonal Landscaping Business — $85K with Restructured Winter Payments
A 12-employee landscaping company in Columbus, OH needed \$85K to purchase a new Bobcat skid-steer and trailer before the spring rush. Their bank statements showed strong April-October deposits averaging \$45K/month but winter months dropping to \$12K-\$15K. Two traditional MCA funders declined because the application was submitted in January, when statements reflected the low season.
Restaurant Cash Flow Bridge — $50K with Early Payoff
A family-owned Italian restaurant in Bergen County, NJ experienced a kitchen fire that was covered by insurance but with a 60-90 day reimbursement timeline. The owner needed \$50K immediately to pay contractors for repairs and cover rent and payroll during the 3-week closure. The restaurant's credit card processing volume had been \$28K-\$35K/month pre-fire.
Pros & Cons
Pros
- Offers daily, weekly, and bi-weekly repayment frequencies, giving businesses genuine flexibility that most MCA funders do not provide since the industry standard is daily ACH only.
- Mid-term restructuring is available for businesses that experience a documented 20%+ revenue decline, with payment reductions of 25-40% and term extensions rather than default proceedings.
- Bank statement-driven underwriting approves businesses with credit scores as low as 520 as long as daily deposit patterns are consistent, making capital accessible to businesses locked out of traditional lending.
- Renewal program offers meaningful factor rate improvements of 0.03-0.07 per cycle, so a third-time borrower can realistically achieve a 1.18-1.22 factor rate compared to 1.30+ on the first advance.
- Each client gets a dedicated funding specialist with authority to approve minor modifications like payment date shifts without escalation, which is a genuine service advantage over funders with only generic support queues.
Cons
- Factor rates on initial advances (1.25-1.45 for first-time borrowers) are higher than top-tier funders like OnDeck or Credibly, and the best rates require multiple renewal cycles to unlock.
- Not available in North Dakota or South Dakota, and certain high-regulation states like California may have additional disclosure requirements that slow funding.
- Maximum advance of \$400K is below competitors like AFN (\$2M) or Rapid Finance (\$1M), limiting Accord's usefulness for businesses needing large capital injections.
- UCC-1 blanket lien is filed on all business assets as standard practice, which can interfere with obtaining equipment financing, SBA loans, or other secured credit until the advance is fully repaid and the lien released.
User Reviews (30)
my accountant was impressed with the terms
ngl Accord Business Funding saved my online store when we needed emergency capital for POS system upgrade. Applied with a 490 credit score expecting to get laughed at but they actually looked at my bank deposits and approved $200,000. Total repayment is $250,000 which yeah its not cheap but compared to the alternative of shutting down? No brainer. My rep Marcus has been responsive every time I've called.
my accountant was impressed with the terms
BEST DECISION I MADE THIS YEAR was going with Accord Business Funding instead of stacking two advances from different companies. Got $80,000 in one clean position at 1.17. Repaying $488/day which is totally manageable on $32K/month revenue. My accountant said this was the least predatory MCA contract he's reviewed.
buyer beware
Not impressed with Accord Business Funding. Applied for $15,000, they approved a lower amount at a 1.36 factor rate which is honestly too high. Total repayment of $20,400? That's $5,400 in fees. I know MCAs aren't cheap but this felt excessive. The daily debit of $97 is manageable but expected better from them.
solid experience start to finish
tbh I was skeptical about MCAs after hearing horror stories but Accord Business Funding has been completely legit. $100,000 at 1.19 factor rate, $551/day in payments. They were upfront about everything -- total cost, payment schedule, the UCC lien. No surprises. Used the money for equipment and it's already paying for itself.
not terrible but wouldnt rush to recommend
Accord Business Funding is... adequate. $100,000 at 1.3 factor rate. Not the best deal, not the worst. Funding took about 36 hours which was slower than they promised. My rep was friendly but not helpful when I asked about options mid-term. Paid it off, probably won't go back unless rates improve.
fair deal could be cheaper
Used Accord Business Funding for $20,000 to cover seasonal inventory. Factor rate of 1.17 is competitive -- I shopped around and Forward Financing quoted me 1.26 for the same amount. Process was straightforward and my rep was helpful. My only gripe is the UCC lien took 3 weeks to get removed after payoff. Had to call twice.
mostly positive but read the fine print
Used Accord Business Funding for $40,000 to cover a buildout. Factor rate of 1.23 is competitive -- I shopped around and Smart Business Funding quoted me 1.16 for the same amount. Process was straightforward and my rep was helpful. My only gripe is the UCC lien took 3 weeks to get removed after payoff. Had to call twice.
decent funder fair terms
Solid but not perfect. Got $75,000 in the following day for a roof repair. Factor rate 1.16 is fair. The daily debit of $473 was fine most months but during my slow season it got really tight. Called them and they said there was nothing they could do about adjusting. Still paid off on time.
best rates I found after shopping around
BEST DECISION I MADE THIS YEAR was going with Accord Business Funding instead of stacking two advances from different companies. Got $200,000 in one clean position at 1.26. Repaying $1,145/day which is totally manageable on $22K/month revenue. My accountant said this was the least predatory MCA contract he's reviewed.
fair deal could be cheaper
Applied to Accord Business Funding and Fora Financial simultaneously. Accord Business Funding was faster and the rate was slightly better (1.15 vs 1.17). Got $75,000 deposited about 36 hours for my medical practice. Process was smooth. Took off one star because the origination fee wasn't mentioned until contract stage.
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Important Merchant Cash Advance Disclaimers
- A merchant cash advance is not a loan. It is a purchase of future receivables at a discount. Factor rates, not APRs, are used to express the cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the term and factor rate.
- Repayment is typically collected daily or weekly via automatic ACH debits or a percentage of credit card sales. This means your repayment amount fluctuates with revenue but withdrawals occur every business day, which can strain cash flow during slow periods.
- Most MCA agreements require a personal guarantee from the business owner. In the event of default, the MCA provider may pursue the owner's personal assets, including bank accounts and property.
- MCA providers commonly file UCC-1 liens against your business assets. This lien may prevent you from obtaining additional financing until the advance is fully repaid and the lien is released.
- Merchant cash advances are not regulated by federal lending laws such as the Truth in Lending Act (TILA). State regulations vary widely, and some states have limited consumer protections for MCA products.
- Stacking multiple merchant cash advances (taking a second advance before the first is repaid) significantly increases the risk of default and can lead to aggressive collection actions including confessions of judgment in some jurisdictions.
- Zogby does not provide merchant cash advances or business financing. We are an independent comparison service. We do not fund advances, process applications, or guarantee approval on your behalf.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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