VOX Funding Secures $150 Million Credit Facility for SMB Financing
VOX Funding has secured a $150 million credit facility from Raven Capital to continue expanding its flexible financing options for U.S. businesses.
The privately held alternative financing company, which provides working capital solutions to businesses across the U.S., has funded over $750 million through its platform since its founding in 2018, it said in a Thursday (May 29) press release.
VOX Funding CEO Adam Benowitz said in the release that the credit facility “enables us to continue our mission, deepen the value we offer to our partners, and maintain the standard of what alternative financing should look like in 2025 and beyond.”
John Shaheen, managing director at Raven Capital, which is an investment firm specializing in asset-based direct lending, said in the release that the partnership will help “accelerate capital access for entrepreneurs.”
“We see tremendous opportunity for VOX Funding to expand and further assist businesses in obtaining the capital they need to grow,” Shaheen said.
VOX Capital offers financing for all business types and has small business expertise, according to its website. It provides funding for small businesses, merchant cash advance, funding for working capital and invoice purchasing.
“Traditional business loans aren’t always the answer,” the company said in a post on LinkedIn. “VOX Funding provides fast, flexible capital for your small business needs.”
In LinkedIn posts made over the past month, VOX Capital said announced a $50,000 funded deal with a veterinary clinic that is expanding into a new space, a $100,000 funded deal with a retail business for inventory, and a $90,000 funded deal with a residential contractor that is using the funds for equipment.
Small and medium-sized businesses (SMBs) with access to financing are more confident in their ability to navigate economic troubles, according to the PYMNTS Intelligence data book, “How Retail Small Businesses Finance Survival in Uncertain Times.”
“This underscores the crucial role of financial resources in fostering a sense of stability and preparedness,” the report said.
The report also found that amid heightening economic uncertainty, many smaller businesses face a challenging financial reality, with half of them critically dependent on day-to-day cash flow just to stay afloat.
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