At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Monday Funding
Monday Funding is a Miami-based merchant cash advance provider founded in 2014 that has differentiated itself from the rest of the MCA industry by offering weekly repayment as the default payment structure rather than the daily ACH debits used by the vast majority of funders. The company was founded on an insight from its CEO's experience running a chain of dry cleaning stores: daily bank account debits created constant anxiety about whether the account would have sufficient funds each morning, while a single weekly payment allowed the business to accumulate deposits throughout the week and make one predictable payment. Monday Funding's internal data shows that their weekly payment structure produces 22% fewer defaults compared to daily ACH portfolios at similar factor rates, because merchants have the flexibility to manage short-term cash flow dips within the week without triggering an NSF return. Having funded over $600 million to small businesses across all 50 states, Monday Funding offers advances from $5,000 to $500,000 with factor rates starting at 1.12 for the strongest applicants and reaching 1.42 for higher-risk profiles. Repayment terms range from 6 to 18 months, significantly longer than many competitors. Merchants can choose their preferred weekly payment day based on when their business typically holds the strongest cash position. Most choose Monday or Friday, though any business day is available. Monday Funding requires at least 12 months in business, a minimum of $10,000 in monthly deposits, and a personal credit score of 550 or higher. They file a standard UCC-1 blanket lien and require a personal guarantee. Their renewal policy allows merchants who have repaid at least 50% of their outstanding balance with zero returned payments to access additional capital without waiting for the current advance to be fully paid off, effectively layering new funding on top of the remaining balance.
Key Features
Weekly Repayment Standard
Unlike the 90%+ of MCA providers that default to daily ACH debits, Monday Funding's standard repayment schedule is one payment per week on the merchant's chosen day. This structure means a business owing $500 per week makes a single debit rather than five $100 daily pulls, which dramatically simplifies cash management. Monday Funding's internal data shows their weekly structure produces 22% fewer defaults compared to daily ACH portfolios at equivalent factor rates, because merchants can absorb a slow Tuesday or Wednesday without triggering an NSF return.
Competitive Factor Rates
Monday Funding offers factor rates starting at 1.12 for the strongest applicants, which is among the lowest in the MCA industry. To qualify for rates in the 1.12-1.18 range, merchants typically need 2+ years in business, monthly deposits above $25,000, consistent daily balances above $5,000, and no existing MCA obligations. The average funded factor rate across their portfolio is approximately 1.24, which still undercuts many competitors whose averages sit in the 1.30-1.35 range.
Flexible Payment Day Selection
Merchants choose their preferred weekly payment day during the offer acceptance process. Most select Monday (the namesake) because weekend deposits have settled by then, or Friday when many service businesses collect end-of-week payments. A restaurant with strong Thursday-Sunday revenue might choose Tuesday, while a B2B service company that invoices monthly might prefer the first Monday after typical client payment dates. The payment day can be changed once per advance term with 10 business days notice.
High Advance Ceiling
With advance amounts up to $500,000, Monday Funding can serve the full spectrum from a small salon needing $8,000 for new equipment to a multi-location restaurant group requiring $400,000 for expansion and renovation. Advance amounts above $250,000 require a more thorough underwriting review including tax returns, profit and loss statements, and a phone interview with the business owner, but the process still completes within 48-72 hours.
Renewal Without Full Payoff
Merchants who have repaid at least 50% of their outstanding balance with zero returned payments can access renewal funding without waiting for the current advance to be fully repaid. The renewal effectively consolidates the remaining balance with new capital into a single weekly payment. For example, a merchant with $15,000 remaining on a first advance could receive a $50,000 renewal where $15,000 covers the existing balance and $35,000 represents new working capital, all at a new factor rate that is typically 3-5 basis points lower than the original.
How It Works
Apply Online
Complete the application in under 10 minutes and upload 4 months of business bank statements for review.
Underwriting Review
Monday Funding evaluates your average daily balance, deposit consistency, and revenue patterns to determine your advance amount.
Choose Your Payment Day
Review your offer and select which day of the week you prefer for your single weekly payment. Most merchants choose Monday or Friday.
Fund & Repay Weekly
Accept the agreement, receive funds within 24-48 hours, and enjoy the simplicity of one weekly ACH payment instead of daily debits.
What They Do
- Merchant Cash Advance
- Revenue-Based Financing
- Working Capital
- Business Expansion Funding
Debt Types They Take On
- Merchant Cash Advance
- Revenue-Based Financing
- Working Capital Advance
- Weekly Repayment MCA
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Landscaping Company Seasonal Funding
A landscaping company in Orlando with 15 employees needed $80,000 to purchase a new mowing fleet and hire seasonal workers before the busy spring season. Monthly revenue during winter dropped to $22,000 from a summer peak of $65,000. Two daily-payment MCA providers offered similar amounts but the $450-$500 daily debits during the slow season would have drained the operating account below the level needed for weekly payroll of $12,000.
Dental Practice Expansion
A solo dentist in suburban Atlanta with 3 years in practice needed $150,000 to build out a second treatment room, purchase a digital X-ray system, and hire an associate dentist. The practice was generating $38,000 in monthly deposits. Daily MCA payments of $700+ would have interfered with the practice's bi-weekly payroll processing of $8,500 for hygienists and front desk staff.
Pros & Cons
Pros
- Weekly repayment structure eliminates the daily anxiety of morning ACH debits and reduces default rates by 22% according to Monday Funding's internal data, because merchants can absorb a slow day without triggering an NSF return.
- Factor rates starting at 1.12 are among the lowest in the MCA industry, and even the average funded rate of approximately 1.24 undercuts many competitors whose portfolio averages sit in the 1.30-1.35 range.
- Merchants can choose their preferred weekly payment day and change it once per term with 10 business days notice, allowing alignment with the specific day when their business holds the strongest cash position.
- Advance amounts up to $500,000 with repayment terms up to 18 months provide a combination of size and duration that rivals many term loan products while maintaining the speed and flexibility advantages of MCA funding.
- The 50% repayment renewal threshold allows merchants to access additional capital without waiting for full payoff, and the renewal consolidation typically comes with a factor rate 3-5 basis points lower than the original advance.
Cons
- Each weekly payment is approximately 5x the equivalent daily payment amount, meaning a single missed weekly payment represents a much larger NSF event than a missed daily payment, which can escalate to default status more quickly.
- Monday Funding requires a minimum personal credit score of 550 and at least 12 months in business, which excludes the startup and poor-credit segments that some competitors like Torro or Highland Hill Capital are willing to serve.
- The renewal consolidation feature can obscure the true cost of capital because the remaining balance from the first advance rolls into the new advance at the new factor rate, effectively paying a factor rate on top of an existing factor rate for the unconsumed portion.
- Underwriting takes 24-48 hours rather than the same-day decisions offered by some competitors, because Monday Funding's manual review process is more thorough but slower than automated platforms.
User Reviews (20)
think twice
Took $15K from Monday Funding for AC unit and I regret it. Factor rate 1.09 and the daily payments are destroying me.
eh
Not bad not good. $15K for tax bill. It is what it is I guess.
won't use again
They said funding in 24 hours but it took 4 days. Contract had fees I wasn't told about. $30K for my IT consulting firm.
thumbs up
Finally a company that doesn't jerk you around. $120K for my junk removal company, done in 2 days.
pretty good
good
minor issues
Good company, factor rate could be better. Got $50K for my martial arts school at 1.22. Tanya was helpful during the process.
absolute nightmare
TERRIBLE. Applied for $100K, they approved less at a HIGHER rate. Then the daily debits started and my jewelry store went from struggling to broke. Factor rate 1.11 is robbery. PLEASE look at other options.
disappointed
wouldn't go back
my go-to now
$18,000 funded next day. No issues.
mixed feelings
whatever
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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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