At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Kalamata Capital
Kalamata Capital exists to serve the segment of the MCA market that almost everyone else turns away: business owners with FICO scores in the 450-550 range, recent Chapter 7 or Chapter 13 bankruptcies (even those not yet discharged in some cases), active tax liens, and other severe credit impairments. Their underwriting model is almost purely revenue-based — they care about your bank deposits and daily business cash flow, not your personal credit history. A business owner with a 460 FICO, a bankruptcy discharged 14 months ago, and $25K/month in stable deposits is a viable Kalamata candidate. At most other MCA providers, that application would be auto-declined before a human ever looked at it. The cost of this accessibility is pricing. Kalamata's factor rates range from 1.20 to 1.50, with most deals for their core bad-credit clientele landing in the 1.35-1.48 range. On a $50,000 advance at a 1.40 factor rate, you are repaying $70,000 — a $20,000 cost of capital that translates to a triple-digit effective APR. This is expensive by any objective measure, but the relevant comparison is not what a 650-FICO business owner pays at OnDeck; it is what a 470-FICO owner's alternatives are. Those alternatives are often either no funding at all (killing the business) or predatory bottom-tier funders charging 1.55-1.75 with confession-of-judgment clauses. In that context, Kalamata's 1.35-1.48 factor rates with BBB accreditation represent a meaningful improvement. Kalamata is the right choice when your credit profile has eliminated every other option. If your FICO is above 550 and your business has 6+ months of history, try Credibly or National Funding first — you will get meaningfully better factor rates. If you have a 480 FICO, a recent bankruptcy, or both, Kalamata is one of the few BBB-accredited providers that will give you a serious look. Be realistic about the cost: at a 1.40 factor rate with daily ACH, your business needs sufficient margin and cash flow to absorb both the daily payment and still operate profitably. If the math does not work, the advance will create more problems than it solves.
Key Features
Low Credit Score Accepted
Kalamata underwrites businesses with FICO scores as low as 450, which is 50-100 points below what most MCA funders will consider. They accomplish this by weighting bank deposit patterns at approximately 80% of the underwriting decision versus 20% for credit metrics. However, sub-500 FICO applicants should expect factor rates in the 1.35-1.50 range — the advertised floor of 1.20 is reserved for borrowers with 600+ scores and clean deposit histories.
Revenue-Based Underwriting
Kalamata analyzes 90 days of bank statements looking for three specific signals: average daily ending balance (minimum \$1,500 preferred), monthly deposit volume (\$10K+ required), and deposit consistency (they penalize months where deposits swing more than 30% from the rolling average). They do pull personal credit but primarily to check for existing MCA positions via UCC filings, active liens, and recent charge-offs — not for FICO-based decisioning. A 460 FICO with \$25K/month in steady deposits will outweigh a 650 FICO with erratic \$12K deposits.
Same-Day Funding Available
Same-day funding is available for deals submitted and signed before 11am Pacific with complete documentation. Most deals realistically fund next-business-day. Same-day is more common for renewals than first-time advances because existing clients already have bank verification and UCC paperwork on file. First-time applicants with complex profiles — multiple existing MCA positions, recent legal judgments, or unresolved tax liens — typically take 2-3 business days due to additional verification requirements.
Multiple Product Options
While daily-ACH merchant cash advances are Kalamata's core product, they also offer short-term business loans (for borrowers with 580+ FICO who qualify for a loan rather than purchase-of-receivables structure), equipment financing tied to specific assets, and a small revolving credit product for repeat clients with clean history. The non-MCA products carry lower effective rates but stricter qualification requirements, so the majority of sub-500 FICO clients end up in the MCA product by default.
Simple Application Process
Kalamata requires a one-page application and 3 months of business bank statements — nothing else for MCA applications under \$75K. No tax returns, P&L statements, business plans, or financial projections needed. For larger requests (\$75K-\$150K), they may ask for a voided check, copy of the business lease, and proof of ownership. The minimal documentation is a genuine advantage for businesses with messy or incomplete financial records that would struggle with the extensive paperwork requirements of traditional lenders.
How It Works
Quick Application
Complete a brief online application with your business name, revenue information, and desired funding amount.
Document Submission
Upload 3 months of business bank statements. No tax returns or financial statements required in most cases.
Approval & Offer
Receive a funding offer with factor rate, repayment terms, and advance amount within hours of applying.
Funding
Sign the agreement electronically and receive funds deposited to your business account, often the same day.
What They Do
- Merchant Cash Advance
- Short-Term Loans
- Line of Credit
- Equipment Financing
- Invoice Factoring
Debt Types They Take On
- Merchant Cash Advance
- Short-Term Loan
- Revenue-Based Financing
- Working Capital
- Equipment Financing
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Auto Repair Shop Post-Bankruptcy — $50K Advance
An auto repair shop owner in Riverside, CA with a 480 FICO and a Chapter 7 bankruptcy discharged 14 months prior needed \$50,000 for a new lift, diagnostic equipment, and parts inventory. The shop was doing \$28K/month in revenue. The owner had been declined by Credibly (bankruptcy too recent), National Funding (FICO too low), and his bank.
Trucking Company Emergency Repair — $30K Advance
An owner-operator trucking company with 2 trucks needed \$30,000 for an emergency engine rebuild on a Freightliner Cascadia. The owner had a 510 FICO with an active IRS payment plan for \$22K in back taxes. Both trucks were generating \$18K/month combined when both were running; the broken truck represented \$9K/month in lost revenue for every week it sat idle.
Pros & Cons
Pros
- Accepts FICO scores as low as 450 — one of the lowest thresholds among BBB-accredited MCA providers, serving business owners that virtually every other reputable funder declines
- Revenue-based underwriting that de-emphasizes personal credit: recent bankruptcies, tax liens, and collections are evaluated in context rather than treated as automatic disqualifiers
- Same-day funding available for straightforward applications, which is critical for emergency situations where each day of delay costs real revenue
- Simple application process requiring only a one-page form and 3 months of bank statements — no tax returns, business plans, or financial projections
- Multiple product options (MCA, term loans, lines of credit, equipment financing) mean you are not automatically forced into the most expensive product category
Cons
- Factor rates of 1.35-1.48 for their core bad-credit clientele translate to triple-digit effective APRs — dramatically more expensive than what a 600+ FICO borrower pays at OnDeck or Fora Financial
- Maximum advance amounts are lower than larger funders: most first-time Kalamata deals cap at \$150K-\$200K, versus \$500K at Yellowstone or \$10M at Rapid Finance
- Daily ACH repayment with holdbacks of 12-22% of deposits can strain cash flow for low-margin businesses — a 20% holdback on \$25K/month in deposits means \$5K/month less available for operations
- The very flexibility that makes Kalamata accessible also means the businesses they fund have higher default rates industry-wide, which keeps their factor rates elevated even for stronger applicants within their target segment
User Reviews (22)
reliable
Worked out fine. $12K at 1.22. Nothing special but nothing bad either.
4 out of 5
Used them for parking lot repaving. $18K funded pretty quick. Taking off a star for the origination fee that wasn't mentioned until the contract.
criminal
DO NOT USE Kalamata Capital!!! Took $30K for my convenience store and the payments are DESTROYING me. Called them 5 times and got 5 different answers. SCAM!!!
smooth process
Fast. Easy. Done. $35K in my account.
save your money
They said funding in 24 hours but it took 4 days. Contract had fees I wasn't told about. $15K for my roofing company.
good experience
Used them for my cleaning company. Fast and easy.
overpriced
Kalamata Capital is just another MCA company. $30K at 1.30. They're all the same honestly. Fast money expensive money.
ok overall
would recommend
highly recommend
I was nervous about MCAs but Kalamata Capital was upfront about everything. $45K at 1.19, daily payments, total cost. No hidden stuff.
mixed feelings
not bad
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Important Merchant Cash Advance Disclaimers
- Merchant cash advances are not loans. They are purchases of future receivables at a discount. Factor rates, not APRs, determine the total cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the factor rate and repayment speed.
- Repayment is typically made through daily or weekly automatic ACH debits from your business bank account. Missing or reversing these payments may trigger default provisions including accelerated repayment, increased factor rates, or legal action.
- Many MCA agreements include a personal guarantee and/or a confession of judgment (COJ). A confession of judgment allows the funder to obtain a court judgment against you without prior notice or a hearing. Some states have restricted or banned confessions of judgment.
- MCA funding may require a UCC-1 filing (blanket lien) on your business assets. This lien can affect your ability to obtain other financing and may remain on file even after the advance is repaid. Confirm lien release procedures before signing.
- There is no federal regulation specifically governing merchant cash advances. MCAs are not subject to Truth in Lending Act (TILA) disclosure requirements. Some states have enacted disclosure laws, but protections vary significantly by jurisdiction.
- Stacking multiple merchant cash advances simultaneously increases your risk of default and can create a debt cycle that is difficult to escape. Carefully evaluate your business cash flow before taking on additional advances.
- Zogby does not provide merchant cash advances or business funding. We are an independent comparison service. We do not broker, originate, or service any financial products. All offers are subject to the funder's terms and conditions.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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We make money from some companies on this page. That doesn't change our rankings -- the editorial team scores every product independently, and the business side has no say in what we recommend.