Deal Jacket
A deal jacket is the complete file of documentation and metadata for an MCA funding application — including business and owner information, bank statements, processor statements, signed application, and underwriting notes — submitted by the ISO/broker to the funder for underwriting decision.
Why This Matters
The deal jacket is the operational currency of MCA submission flow. A complete deal jacket typically includes: signed application with business and owner details, last 3-6 months of business bank statements, processor statements (if card-processing dependent), driver's license copy, voided check, and any program-specific stipulations. Deal jacket quality directly affects approval rates — incomplete or messy submissions get rejected automatically by funder underwriting screens. ISOs invest in deal-jacket preparation workflows (document gathering automation, bank statement OCR, completeness checking) because submission quality is a competitive advantage with funders.
Frequently Asked Questions
Frequently Asked Questions
What documents make up a complete MCA deal jacket?
Signed application, 3-6 months business bank statements, voided business check, driver's license, processor statements (card-dependent merchants), and any program-specific stipulations (proof of ownership, lease, business license).
How do funders score deal jacket quality?
Completeness (all required documents), document recency (within 30 days for bank statements), legibility (OCR-friendly), and accuracy (numbers match application). Top ISOs maintain 95%+ first-submission approval rates through deal-jacket discipline.