-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GSdTM+kMBiikR+6mFp8ifvkpWcJz2v9eI8o0ohM6HOjTtokRDCNepfzPkDRk8jAh
 TUUFEj6cuvtNIF8vPUDKjQ==

<SEC-DOCUMENT>0001179110-04-016582.txt : 20040816
<SEC-HEADER>0001179110-04-016582.hdr.sgml : 20040816
<ACCEPTANCE-DATETIME>20040816134127
ACCESSION NUMBER:		0001179110-04-016582
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040816
FILED AS OF DATE:		20040816

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CURHAN GREGORY S
		CENTRAL INDEX KEY:			0001263244

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15831
		FILM NUMBER:		04977557

	MAIL ADDRESS:	
		STREET 1:		601 MONTGOMERY STREET 18TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCF CORP
		CENTRAL INDEX KEY:			0000826683
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				112936371
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		601 MONTGOMERY STREET
		STREET 2:		18THFLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-2622
		BUSINESS PHONE:		4152485600

	MAIL ADDRESS:	
		STREET 1:		601 MONTGOMERY STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RATEXCHANGE CORP
		DATE OF NAME CHANGE:	20000512

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETAMERICA COM CORP
		DATE OF NAME CHANGE:	19991116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETAMERICA INTERNATIONAL INC
		DATE OF NAME CHANGE:	19981207
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-08-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000826683</issuerCik>
        <issuerName>MCF CORP</issuerName>
        <issuerTradingSymbol>MEM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001263244</rptOwnerCik>
            <rptOwnerName>CURHAN GREGORY S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>601 MONTGOMERY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2004-08-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.19</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>185000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Purchase pursuant to 2002 MCF Corporation Employee Stock Purchase Plan, approved by the stockholders at the annual meeting on May 30, 2002 and exempt from provisions of Section 16(b), pursuant to Rule 16b-3(c).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Gregory S. Curhan</signatureName>
        <signatureDate>2004-08-16</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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