Fox Business Funding Merchant Cash Advance Review 2023
Loan Amount
Factor Rate
Terms
Min Credit
Time to Fund
Company Profile
Fox Business Funding is a financial institution that specializes in providing business funding solutions. The company prides itself on its quick and easy funding process, which is designed to avoid unnecessary hassle. Fox Business Funding offers up to $1,000,000 in funding, with the potential for funds to be transferred to a business's account in as little as two business days. The company's funding experts work directly with businesses, eliminating extra fees and ensuring that the funding provided is the best fit for the business's needs.
The company is built on a foundation of professionalism and customer service. Fox's funding representatives all have years of experience in small business funding and are dedicated to ensuring that businesses receive the best terms and service. The company's commitment to customer service is reflected in its positive customer testimonials.
Products & Services
Fox Business Funding offers business funding solutions with a quick turnaround. Applications for funding are typically reviewed within an hour after submission, and funds can be transferred to a business's account in as little as one business day after approval. The company's application and approval process is straightforward, requiring minimal documentation. Fox Business Funding understands that sales and revenue are the foundation of small businesses and does not look at credit score alone.
The company offers funding up to $1,000,000, with no broker fees involved. This is because the funding experts at Fox Business Funding work directly with businesses, cutting out extra fees and providing the funding that is best suited for the business's needs. The company's services are designed to be quick and easy, avoiding unnecessary hassle and providing businesses with the funding they need when they need it.
Pros and Cons
Pros:
1. Quick and easy funding process.
2. No broker fees.
3. Minimal documentation required for application.
4. Does not look at credit score alone.
5. Positive customer testimonials.
Cons:
1. The website does not provide detailed information about the terms and conditions of their funding.
2. The maximum funding amount is $1,000,000, which might not be sufficient for some businesses.
3. The company does not provide a list of industries it works with.
4. The website does not provide information about the states the company operates in.
5. The company does not provide information about any collateral or guarantees required.
Ideal Customer
The ideal customer for Fox Business Funding is a small business that has been in operation for at least 6 months and has a monthly volume of over $10,000. These businesses should be looking for a quick and easy funding solution, with minimal documentation required for application. The company does not look at credit score alone, so businesses with less than perfect credit scores may still be eligible for funding.
Required Documentation
The required documentation for getting funding from Fox Business Funding includes basic business information, basic owner information, and recent business bank statements. The company's application and approval process is straightforward, with minimal documentation required. However, the company reserves the right to seek any and all documentation reasonably required to assess the viability of a business.
Industries and Restrictions
The company does not provide specific information about the industries it works with or any industry restrictions. However, given the nature of their services, it can be inferred that Fox Business Funding works with a wide range of industries, particularly small businesses in need of quick and easy funding.
State of Operations
The company does not provide specific information about the states it operates in or any state restrictions. However, the company's contact information includes an address in Hollywood, Florida, suggesting that it operates in at least this state.
Basic Qualifications
The basic qualifications required to receive funding from Fox Business Funding include having no minimum credit score, being in business for at least 6 months, and having a monthly volume of over $10,000.
Collateral or Guarantees
The company does not provide specific information about the type of collateral or guarantees required for its products. However, given the nature of their services, it can be inferred that the company may require some form of collateral or guarantees, depending on the amount and terms of the funding.
Alternatives
Alternative options to Fox Business Funding could include traditional banks, credit unions, or other online lenders. These alternatives may offer different loan amounts, rates, and terms, and may have different qualification requirements. It's important for businesses to thoroughly research and compare different funding options to find the one that best fits their needs.