- Nov 01, 2026
- 6 min read
Holiday inventory has to be bought and paid for weeks before customers buy it. If your supplier wants payment before
$20,000+
Revenue Eligibility Verification
Minimum Time-in-Business Requirements
Document Quality & Legibility Checks
Program Alignment & Deal Matching
Pre-Submission Compliance Review
Funding Readiness Best Practices
Holiday inventory has to be bought and paid for weeks before customers buy it. If your supplier wants payment before
A factor rate is the multiplier that sets the total dollar amount you remit on a merchant cash advance. Multiply
Most merchant cash advance declines come down to a handful of reasons: revenue below the minimum, too little time in
A merchant cash advance (MCA) provides a business with upfront capital in exchange for an agreed amount of future business
A merchant cash advance (MCA) provides a business with capital upfront in exchange for an agreed amount of its future
Seasonal business funding is working capital a business uses to cover costs that arrive before its busy season pays for
No matter what your niche is, keeping up with the financial side of your business can be complicated. Whether you’re
Whether struggling to hire new quality team members or facing cash flow issues, small business owners often struggle with business
Building customer loyalty starts with giving customers a reason to return. For small businesses, that means delivering consistent service, making
Legend Funding Golf Outing – September 2019 Thank you to our ISO Partners for joining us at our Golf Outing.
Cash flow problems happen when a business does not have enough money available to cover expenses when payments are due.
Starting a business is a challenge no matter where you’re starting from. Making mistakes is just a part of the
A merchant qualifies with a minimum of 3 months in business, $20,000+ in monthly revenue, and an active U.S. business checking account. Underwriting then reviews deposit consistency, industry type, and any existing advance exposure before issuing an approval. Accepted industries include retail, restaurants, construction, transportation, healthcare, professional services, and eCommerce. Gambling, adult entertainment, and illegal services are not eligible.
Legend Funding requires a minimum of $20,000 in monthly revenue. Consistency matters as much as the total. Steady month-over-month deposits strengthen a file more than one strong month against several weak ones, so submit statements that show the pattern rather than the peak.
Most complete submissions receive a decision within 24–48 hours, and clean files with full documentation move faster. Merchant approvals can be returned in as little as 2–3 hours when the file arrives complete on the first pass. Actual timing depends on program, documentation quality, and the merchant’s bank processing time.
No. Credit is one input, not the deciding factor. Legend Funding applies no strict minimum FICO on most programs and weighs business performance and cash-flow stability above the personal score. Strong, consistent monthly deposits can offset a lower credit profile. The initial application uses a soft credit pull, so it does not affect the merchant’s credit score; full verification happens only after an offer is accepted.
Legend Funding accepts retail, restaurants, construction, transportation, healthcare, professional services, and eCommerce merchants in all 50 states. Restricted industries are gambling, adult entertainment, and illegal services. Files in these categories cannot be funded regardless of revenue strength. If a merchant’s industry isn’t listed, contact your partner manager to confirm before submitting.
A complete submission includes the merchant’s last 3–6 months of business bank statements, a completed application, a valid government-issued ID, a voided business check, processing statements where applicable, and written disclosure of any open advances. Complete files reduce stipulations and shorten turnaround. Tax returns and audited financial statements are not required for most approvals.
Yes. Open advances are reviewed case by case, and Legend Funding offers consolidation and second-position options depending on the merchant’s capacity. Underwriting assesses current remittance amounts, remaining balances, and total repayment capacity against actual deposits to determine whether additional funding is sustainable. Full disclosure of existing positions at submission is required. Undisclosed advances found during verification will stop a file.
A complete submission includes the merchant’s last 3–6 months of business bank statements, a completed application, a valid government-issued ID, a voided business check, processing statements where applicable, and written disclosure of any open advances. Complete files reduce stipulations and shorten turnaround. Tax returns and audited financial statements are not required for most approvals.
The most common causes are incomplete documentation, revenue below the $20,000 monthly minimum, less than 3 months in business, undisclosed open advances, illegible or partial bank statements, a restricted industry, and funding requests that exceed what the merchant’s deposits can support. Most of these are preventable at submission. Requesting a realistic amount against actual revenue is the single biggest factor in approval rate.
Commissions are paid after funding clears and contracts activate, according to the terms of your partner agreement. Legend Funding is a direct funder, so there is no intermediary between your submission and the capital, and no middleman fees deducted from the deal.
