We investigate the cosmological model of viscous modified Chaplygin gas (VMCG) in classical and loop quantum cosmology (LQC). Firstly, we constrain its equation of state parameters in the framework of standard cosmology from Union 2.1 SNe Ia data. Then, we probe the dynamical stability of this model in a universe filled with VMCG and baryonic fluid in LQC background. It is found that the model is very suitable with
and gives a good prediction of the current values of the deceleration parameter
and the effective state parameter
that is consistent with the recent observational data. The model can also predict the time crossing when
at
and can solve the coincidence problem. In LQC background, the Big Bang singularity found in classical cosmology ceases to exist and is replaced by a bounce when the Hubble parameter vanishes at
.