The Complete MCA Deal Submission Checklist for 2026

Banklyze Team

MCA Underwriting Experts

For ISOs and brokers, the deal submission package is your first impression with the funder. A complete, well-organized submission gets underwritten faster, receives fewer stips (stipulations), and closes sooner — which means commissions arrive sooner. An incomplete submission, on the other hand, enters a back-and-forth cycle of requests and responses that delays funding, frustrates the merchant, and gives competing brokers time to beat you to the close.

This checklist covers everything you need for a clean deal submission in 2026, including document requirements, formatting specifications, common mistakes that trigger stips, and tips for getting deals through underwriting on the first pass.

A complete submission package reduces stips and accelerates funding

Core Document Checklist

Every MCA submission requires these core documents. Missing any of them will result in an automatic stip or delay.

Document	Requirement	Common Issues
Bank Statements	3 most recent months, all pages	Missing pages, wrong months, personal account submitted
Signed Application	Fully completed, all fields	Missing SSN/EIN, unsigned, outdated application version
Government-Issued ID	Valid, unexpired, for all owners 20%+	Expired ID, poor quality scan, wrong owner
Voided Business Check	From the business account on statements	Personal check, different account than statements
Business Tax Returns	1-2 most recent years (if required)	Not signed, extension only, wrong entity
Business Licenses	Current and valid for operating state	Expired license, wrong entity name
Credit Card Processing Statements	3 months (if applicable)	Wrong processor, missing pages
Lease Agreement	Current commercial lease (if applicable)	Expired, residential address

Bank Statement Requirements in Detail

Bank statements are the most critical document in every MCA submission. Getting them right eliminates the most common source of stips.

How Many Months

The industry standard is 3 complete months of the most recent statements. Some funders require 4-6 months for higher-risk deals or larger advance amounts. "Most recent" means the last 3 full calendar months — if you are submitting in February 2026, you need November 2025, December 2025, and January 2026. A partial February statement may be accepted as a supplemental document but does not replace a full month.

Which Banks

Submit statements for every business bank account through which the business operates. If the merchant receives deposits in two accounts, both must be submitted. Submitting only the "good" account while hiding the one with NSFs and negative balances will be caught — funders cross-reference account activity and can see transfers between accounts.

Format Requirements

PDF format only — most funders will not accept screenshots, photos, or Excel exports
Downloaded from online banking — digital PDFs are preferred over scans because they produce higher-quality OCR extraction
All pages included — every page, including the summary page and any continuation pages. Missing even one page will trigger a stip
Not password protected — remove PDF passwords before submitting
Legible and complete — if scanned, ensure no cut-off edges, shadowed text, or missing corners
Business account, not personal — the account must be in the business name (DBA or legal entity)

Pro Tip: Digital vs. Scanned

Statements downloaded directly from online banking as PDFs process 3x faster than scanned paper statements. Digital PDFs produce clean text extraction, while scans require OCR that can introduce errors. Always ask the merchant to download statements from their online banking portal rather than scanning paper copies.

Common Mistakes That Delay Approvals

After reviewing thousands of deal submissions, these are the most frequent mistakes that cause delays. Eliminate these, and you will see your approval speed increase significantly.

Submitting 2 months instead of 3: This is the #1 stip in the industry. Always send 3 complete months
Missing the bank statement summary page: The first page with account holder information and the period summary is essential for verification
Wrong entity on documents: If the application says "ABC Trucking LLC" but the bank statement says "ABC Trucking Inc," underwriters will request clarification
Expired identification: Check expiration dates on all IDs before submitting. An expired license is an automatic stip
Application fields left blank: Every field matters. Blank fields for EIN, date of birth, time in business, or revenue are all common triggers
Voided check from a different account: The voided check must come from the same account as the bank statements being submitted
Submitting personal bank statements: Sole proprietors sometimes submit personal accounts. If the business operates through a personal account, note this clearly on the application
Tax returns not signed: Unsigned tax returns are not valid. Ensure the return includes the signature page

Stip Reduction Strategies

Stips slow down deals and frustrate merchants. Here are proven strategies to minimize them.

Use a pre-submission checklist: Review every document against the list above before sending to the funder
Collect extra documentation upfront: Get the voided check, ID, and tax returns at the same time as the application — not after the funder asks
Address red flags proactively: If you know the statements show NSFs or existing positions, include a brief explanation in your cover memo
Verify document consistency: Cross-check that the business name, address, and EIN match across all documents
Submit high-quality scans: Ensure every page is fully legible with no cut-off text or shadows
Include a deal summary: A one-paragraph cover note explaining the merchant's business, why they need funding, and any context for unusual bank statement activity speeds up the underwriter's review

Banklyze pre-screens bank statements before submission, identifying missing pages, format issues, and potential red flags so you can fix them before the funder sees the file.

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Quality Scoring: What Funders Look For

Beyond the basic document checklist, funders evaluate submission quality on several dimensions that affect how quickly and favorably a deal is underwritten.

Quality Factor	High Quality	Low Quality
Document completeness	All documents on first submission	Multiple stip rounds needed
Statement format	Digital PDF from online banking	Poor-quality scans with missing corners
Entity consistency	Name matches across all documents	Multiple name variations, unexplained discrepancies
Cover memo	Clear business summary with context	No context; documents only
Response time	Same-day stip responses	Multi-day delays for each stip
ISO reputation	Track record of clean submissions	History of fraud or documentation issues

Automated Pre-Screening Benefits

Forward-thinking ISOs are using automated statement analysis tools to pre-screen deals before submission. This provides several advantages: you can identify likely declines before wasting time on a full submission, you can quote merchants more accurately on likely offer terms, and you can include the automated analysis summary with your submission to demonstrate deal quality.

Pre-qualify deals in minutes: Upload statements and get a preliminary grade before committing to a full submission package
Set merchant expectations: Show the merchant their likely offer range based on their actual bank statement data
Identify issues early: Catch stacking, high NSFs, or declining revenue before the funder does — and have the conversation with the merchant upfront
Strengthen your submission: Include automated analysis data with your package to show the funder you have already done thorough due diligence
Route deals to the right funder: Match deal quality to funder appetite. Don't send D-paper to an A-paper funder or vice versa

The Pre-Screen Advantage

ISOs who pre-screen with automated analysis report 40% fewer stips, 25% faster funding times, and 15% higher approval rates. The time spent pre-screening pays for itself many times over in reduced back-and-forth and faster closings.

Banklyze helps ISOs and brokers pre-screen deals, identify issues before submission, and accelerate the entire funding process.

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