Vox Funding, a New York City-based alternative finance firm, has secured a $40 million credit facility from Fortress Investment Group. The capital will be used to further Vox’s ability to back small-to-medium-size businesses.
NEW YORK (PRWEB) APRIL 26, 2022
VOX Funding, an alternative finance company, announced today the closing of a $40M credit facility with funds managed by affiliates of Fortress Investment Group (“Fortress”). This 3-year term facility is expandable up to $75M and will be used to further VOX’s ability to fund short-term bridge capital to small-to-medium size enterprises (“SMEs”) nationwide.
“We’re very pleased to close this facility with Fortress, particularly during a period of substantial growth for VOX,” says Peter K. Reilly, Chief Financial Officer of VOX Funding. “This investment increases our ability to positively impact small businesses by providing the flexible funding solutions they need to realize their fullest potential.”
The demand for alternative lending products has increased greatly over the years as small businesses have historically struggled to access capital from traditional banks. This access becomes even slimmer during difficult times, evidenced most recently by the COVID-19 pandemic. VOX Funding’s programs offer a solution to this issue with a partnership approach, cultivating lasting relationships with its merchants. VOX has closed nearly $125M in fundings in its four-year history, bringing much-needed capital to the SME space.
“We are excited to partner with VOX as they continue to support small businesses in a challenging environment,” said Matt Biczak, Managing Director at Fortress Investment Group. “We believe this capital solution will allow VOX to expand its funding capabilities and grow significantly in the years ahead.”
Peter K. Reilly added “Our financial partnership with Fortress is a critical addition to VOX’s existing equity and capital debt structure. The increased flexibility empowers us to focus on further building our client base, driving profitability, and accelerating our growth as leaders in the industry we’re so proud to serve.”
Agra Capital, LLC served as the Company’s Advisor and Placement Agent in relation to this transaction.
About VOX Funding
VOX Funding is a New York City-based alternative financing company founded in early 2018. Its management team of investment experts has over 100 years of combined experience and has worked across all layers of the capital structure, both private and public. VOX Funding offers flexible financial solutions for small-to-medium-sized businesses in need of working capital. For more information on VOX Funding’s mission and programs, visit voxfunding.com.