This guide follows one deal from the moment a funder approves to the moment the winning offer is funded. You get the offer into MCA Pilot, select the offer you will proceed with, move the deal through Contracts Requested, and mark that offer as Funded to create the advance.
You need a deal that has already been submitted to funders. If the deal has not gone out yet, start with Review a deal from application to submission.
Get the offer into MCA Pilot
An offer enters the system two ways. When AI Processing classifies a funder reply as an approval, it creates the offer for you with the extracted terms: product, funding amount, sell rate, term length, frequency, commission points, offer link, origination fee, and the stips required. When a reply asks for more information instead, the submission moves back to pending and a task is created for each requested item. See AI Processing.
You can also record the offer yourself. When a funder replies with an offer, open Submissions in the left sidebar and enter the terms on the approval:
Click the green Approved button on the submission's actions row.
In the Approved: [Company Name] to [Funder Name] modal, enter the terms: Product, Amount, Rate, Term, Frequency, and Points.
Optionally paste an Offer link, or attach offer documentation with the + icon on the Offer grid.
Click Confirm.
The submission status changes to approved, and the offer appears in Offers in the left sidebar and in the deal's Offers table on the Activity tab. If the funder sent only an offer link, MCA Pilot may still extract the terms from the funder's portal; if extraction fails, the offer is created with the link saved and you enter the financial details manually. See What happens when a funder sends an offer link instead of offer details? or the full approval steps in How to mark a Submission as approved.
Select the offer you will proceed with
Selecting an offer links the deal status to that offer's status. Until you select one, changing one status does not change the other, so select before you update anything.
Open Offers in the left sidebar, or open the deal and go to the Activity tab.
Hover the offer you intend to proceed with and click Select. The offer is highlighted blue.
Select any other offers that should move forward too. You can select more than one.
Move the deal through Contracts Requested
With the offer selected, update one status and the other follows.
Hover the selected offer.
Update the deal status with the Update button, or update the offer status with the inline status dropdown.
To see every deal waiting on contracts, go to the main Deals page and filter for Contracts Requested, or open https://app.mcapilot.com/deals?statusVal=CONTRACTS_REQUESTED directly. For how deal, submission, and offer statuses fit together, see How to track deal statuses and offer statuses.
Mark the winning offer as Funded
When the funder funds, mark that specific offer as Funded. This creates the advance, payments, and distributions.
Changing the deal's overall status to Funded does not create the advance or payment records. You must mark the specific offer as Funded.
Open the deal and go to the Activity tab.
In the Offers table, directly below Submissions, hover the offer row that funded.
Click Funded.
Complete the funding form in the Funded: [Funder Name] modal: Commission, Fee, Commission expected, Fee expected, Date funded, and Payment splits if applicable.
Click Confirm.
You can also click the green Funded button on the offer's row in the Offers list in the left sidebar. After you confirm, the offer status changes to funded and the advance appears under Advances in the left sidebar, where you track it through the rest of its lifecycle.
If the Funded button does not appear, you are probably hovering the Submissions table instead of the Offers table below it. See How do I correctly mark an offer as funded in MCA Pilot, and what should I do if I cannot find the 'Funded' button?. For the complete funding form, what happens after funding, and adding commissions to the advance, see How to Mark an Offer as Funded (Create an Advance).