At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Legacy Funding
The Moretti family started Legacy Funding in Chicago in 2012 because they understood something most MCA providers do not: family businesses run differently. When your brother-in-law is a co-owner, your daughter is taking over the operation, and the business checking account has three authorized signers from two generations, generic MCA underwriting breaks down. Over $400 million funded to family-run businesses -- corner delis, hardware stores, second-generation manufacturers, multi-location restaurant groups. Legacy\'s underwriting accounts for the realities of family ownership. Multiple signers on the account. Succession plans where the founder is handing off to the next generation. Partnerships between spouses, siblings, or parent-child teams. Their advisors specialize in these structures and can navigate the complexities that make other MCA providers say \'too complicated\' and move on to an easier deal.
Key Features
Family Business Expertise
They have seen every family business structure imaginable. Father-son partnerships, three siblings splitting ownership, a founder transitioning to a daughter who runs things differently. None of it is unfamiliar to their team.
Succession-Aware Funding
If the founder is retiring and the next generation is taking over, Legacy structures the advance around that transition. They do not treat a leadership change as a risk flag like most MCA providers would.
Multi-Signatory Flexibility
Three family members on the business account? Co-ownership between spouses? An LLC with four siblings as members? Legacy handles complex ownership structures that other funders refuse to touch.
Relationship-Based Approach
The Morettis run Legacy like a family business because it is one. Your account manager knows your name, knows your family situation, and handles your renewal personally. Not a call center.
Community Business Support
Legacy partners with local chambers of commerce and family business associations. Funded clients get access to networking events and educational resources. Small benefit but genuine.
How It Works
Family Consultation
Talk to a Legacy advisor who asks about your family ownership structure, who signs on the account, and whether a succession is in progress or planned.
Document Gathering
Upload 3 months of bank statements, ownership documentation, and IDs for all guarantors. If there are multiple family owners, they make it straightforward.
Family-Friendly Underwriting
Underwriting evaluates the business within the context of family ownership. Multi-signatory accounts, succession transitions, and mixed-generation decision-making are all accounted for.
Funding & Partnership
Accept the offer, get funded in 24-72 hours, and keep the same advisor for renewals. They build relationships, not one-off transactions.
What They Do
- Merchant Cash Advance
- Working Capital
- Revenue-Based Financing
- Family Business Bridge Funding
Debt Types They Take On
- Merchant Cash Advance
- Short-Term Advance
- Working Capital
- Revenue-Based Financing
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Third-Generation Bakery Renovation
Italian bakery in Chicago, same family since 1962. The founder's granddaughter was taking over and needed $75K to modernize a kitchen that had not been updated in 20 years.
Family Hardware Store Inventory
Husband and wife co-own a hardware store. Both names on the LLC, both on the bank account, tax returns filed jointly. Two other MCA providers said the ownership structure was too complicated.
Pros & Cons
Pros
- Deep expertise in family business structures and dynamics
- Succession-aware funding that accounts for generational transitions
- Multi-signatory flexibility for complex family ownership
- Personal relationship-based approach with dedicated advisors
- Community partnerships with chambers of commerce and business associations
Cons
- Not available in all 50 states
- Maximum advance of $350K is lower than some competitors
- Funding timeline of 24-72 hours is slower than same-day providers
User Reviews (13)
the moretti family running this company actually matters
You can tell Legacy is family-run because they don't treat you like a number. My account manager remembered my wife's name and asked about our new granddaughter on a renewal call. Small thing but it signals something about the culture. $30K at 1.26 for our hardware store. The personal touch is real, not scripted. Ask for Robert if you can.
the community partnerships are a nice bonus
After getting funded, Legacy connected me with a local chamber of commerce event for family businesses. Met three other deli owners dealing with the same issues -- succession planning, getting the next generation interested, modernizing without losing the soul of the business. $20K advance at 1.26 but the networking was an unexpected bonus.
max advance of $350K was too low for our expansion
Our family restaurant group needed $500K for a new location. Legacy caps at $350K. Had to supplement with another funder which added complexity and a second UCC lien. The family business expertise is great but the advance ceiling limits their usefulness for larger family businesses. $350K at 1.22.
funding fell apart because of family disagreement about the PG
Applied for $50K for our family bar. Legacy needed PGs from both co-owners (me and my brother). My brother refused to sign a personal guarantee. Legacy wouldn't fund without both PGs. Deal died. They could have offered a higher factor rate without the PG or found another way. Instead they just walked away. $0 funded and they still havent called me back btw.
they actually understand family business dynamics
My brother and I co-own a deli our father started in 1978. Two other MCA providers couldn't figure out the ownership structure -- two siblings, an LLC with our mom still technically a member, dad's name on the lease. Legacy sorted it out in one phone call. $55K at 1.22. They've seen every family business arrangement imaginable.
decent funder but nothing special if you're not a family business
I'm a sole owner, no family involvement in my coffee shop. Legacy's whole value prop is family business expertise. For a single-owner business, they're just another MCA company with average rates. $18K at 1.28. If you're not dealing with multi-generation ownership or family dynamics, their specialization doesn't benefit you.
worked great for our father-son partnership
Dad and I own a pizza shop together. He's 50/50 partner but semi-retired. Legacy handled the dual-owner structure without any drama. Both of us signed, both of us provided IDs, done. $35K at 1.24. Other funders acted like having two family members on the business was some kind of anomaly. Legacy treats it as standard.
helped us navigate a tricky ownership transition
My father-in-law started the auto shop in 1992. He's handing it to me and my wife. During the transition, ownership docs are messy -- his name on the lease, our names on the LLC, mixed bank account history. Legacy navigated all of it and funded $45K at 1.24 during the transition. Most funders would have said "come back when it's sorted."
three siblings as co-owners and legacy handled it seamlessly
Our construction company has three brothers as equal owners. Every other MCA provider wanted to know who the "real" owner was, as if three siblings can't share a business equally. Legacy's multi-signatory process handled it without friction. All three of us signed, all three provided PG. $75K at 1.20. The smoothest application I've had.
the personal guarantee across multiple family owners is uncomfortable
Legacy required personal guarantees from all three family owners of our restaurant. My husband, my brother, and me. That means if the business defaults, they can come after all three of us personally. With three PGs, the liability spreads across three families. I understand why they require it but it feels heavy for a $40K advance at 1.30.
Write a Review
Frequently Asked Questions
Embed This Badge on Your Website
Legacy Funding has earned a Best for Family Businesses designation from Zogby. Display this badge on your website to showcase your rating.
Paste this code anywhere in your website's HTML. The badge links back to your full Zogby review.
Related Companies
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.
Editorial Independence
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.