Vox Funding Merchant Cash Advance Review 2023
Loan Amount
Factor Rate
Terms
Min Credit
Time to Fund
Company Profile
VOX Funding is a financial institution that provides alternative financing solutions to businesses in need of quick access to capital. The company understands the need for businesses to expand and offers a personalized approach to getting capital quickly, without the hassle of dealing with traditional banking institutions. VOX Funding provides innovative solutions to small business owners as an alternative source of financing, ensuring business stability with the capital funding needed.
VOX Funding is not just about providing funds; it also works with businesses to create a plan for future growth. The company offers many flexible options that will monetize future receivables. With decades of experience in small business funding, their team of experts creates flexible plans that maximize growth. They provide quick and secure access to working capital for businesses looking for growth and expansion opportunities.
Products & Services
VOX Funding offers a variety of financial products and services. They provide funding for small businesses where businesses get paid up front, and VOX Funding receives a percentage of future sales until a pre-determined amount is collected. They also offer funding for working capital, providing cash to keep businesses operating smoothly.
In addition, VOX Funding offers a Merchant Cash Advance (MCA), where businesses can get an advance on future purchase sales. The company collects a percentage via ACH debit from the business checking account or credit card processing transactions. Another service they provide is Invoice Purchasing. In this case, VOX Funding advances cash by purchasing outstanding invoices, providing a fast and efficient solution to cover late-paying customers or slow downs in cash flow.
Pros and Cons
Pros:
1. Quick access to capital.
2. Personalized approach to funding.
3. Variety of financial products and services.
4. Flexible plans for future growth.
5. Decades of experience in small business funding.
Cons:
1. Reliance on future sales for repayment.
2. Potential high costs compared to traditional loans.
3. Businesses must be in operation for at least 12 months.
4. Gross sales must average $100K per year.
5. Limited information available on the website about rates and terms.
Ideal Customer
The ideal customer for VOX Funding is a small business owner seeking growth and expansion opportunities. These businesses should be in operation for at least 12 months with gross sales averaging $100K per year. They should also be comfortable with the idea of a financial institution receiving a percentage of their future sales until a pre-determined amount is collected.
Required Documentation
The website does not provide specific information about the required documentation to get any type of funding. However, typically, businesses would need to provide financial statements, proof of revenue, and possibly some form of collateral.
Industries and Restrictions
VOX Funding serves a variety of industries including advertising/marketing, auto & transportation, bars/restaurants/cafes, builders/contractors, entertainment industry, food & beverage, healthcare, professional services, retail/fashion/goods, service industry, technology/software, and travel/tourism. There are no specific industry restrictions mentioned on the website.
State of Operations
The website does not provide specific information about the states the company does business in or if there are any states restricted.
Basic Qualifications
To qualify for funding, a business must have been in operation for at least 12 months with gross sales averaging $100K per year.
Collateral or Guarantees
The website does not provide specific information about the type of collateral or guarantees required for the company's products. However, it does mention that they offer many flexible options that will monetize future receivables.
Alternatives
Alternative options to VOX Funding could include traditional bank loans, credit unions, other alternative lenders, or crowdfunding platforms. Businesses could also consider seeking investment from venture capitalists or angel investors.