At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Fox Business Funding
Fox Business Funding has carved out a niche that most MCA providers handle poorly: construction and contracting businesses. The construction industry's financial profile is entirely different from the retail and restaurant businesses that MCA underwriting models were designed for. Contractors have project-based revenue (lumpy, not daily), progress payment delays (30-90 days between invoice and payment), retainage holdbacks (5-10% withheld until project completion), seasonal fluctuations, and bonding requirements that tie up capital. A standard MCA underwriter looking at a contractor's bank statements sees erratic deposits and often declines — not because the business is weak, but because the cash-flow pattern does not fit their model. Fox's underwriting team evaluates construction businesses using industry-appropriate metrics: active contract backlog, progress payment schedules, accounts receivable aging reports, customer concentration risk, bonding capacity, and project pipeline value. A general contractor with $500K in active contracts and $200K in outstanding receivables is a strong candidate at Fox even if last month's bank deposits looked thin because payments between two projects crossed. Fox also structures repayment around known project payment dates — if you have a $150K progress payment expected on the 15th, they can align a larger payment to that date rather than draining your account with fixed daily ACH during the gap. Fox Business Funding is the right choice for general contractors, subcontractors, plumbers, electricians, HVAC companies, and other trade businesses that need $10K-$500K in working capital or bridge financing between project milestones. Their factor rates (1.15-1.48) are competitive with the broader MCA market, and the construction-specific underwriting means your application is evaluated by someone who understands retainage, change orders, and progress billing. If you are not in construction, Fox still funds all industries but provides no specialized advantage — a general-purpose provider will likely offer comparable or better pricing.
Key Features
Construction Industry Expertise
Fox's underwriting team includes analysts who understand the difference between erratic deposits and a normal construction payment cycle. They know that 5-10% retainage is standard on commercial contracts, that subcontractors typically wait 30-90 days for payment from GCs, and that Northern-state seasonal slowdowns do not indicate distress. This expertise means construction applications get accurate evaluation rather than being penalized by algorithms designed for daily-revenue businesses like restaurants and retail stores.
Project-Based Underwriting
Fox evaluates your active contracts, purchase orders, and accounts receivable aging alongside bank statement analysis. A contractor with \$20K/month in bank deposits but \$250K in signed contracts can receive an advance sized to the pipeline, not just deposit history. This forward-looking approach can result in advance amounts 50-100% larger than what deposit-only underwriters offer. Submit active contracts, A/R aging reports, and any bonding documentation with your application — they materially improve your offer terms.
Equipment-Linked Funding
Contractors with owned equipment (excavators, backhoes, trucks, specialized tools) can reference this asset value in their application. Fox does not automatically take equipment liens on MCA products, but demonstrating unencumbered equipment assets signals business stability to the underwriting team and can improve both advance amount and factor rate. For dedicated equipment purchases, Fox offers separate equipment financing (24-60 month terms) with the equipment itself as collateral at rates typically lower than MCA factor rates.
Flexible Repayment Schedules
Fox offers daily, weekly, and sometimes bi-weekly ACH repayment, and their account managers can structure payments around known project milestone dates. A contractor expecting a \$120K progress payment on the 15th can negotiate a temporary daily-payment reduction during the gap with a lump catch-up when project funds arrive. This calendar-aware flexibility is nearly unique in the MCA industry and reflects Fox's understanding that construction cash flow does not follow the steady daily patterns that standard MCA repayment assumes.
Fast Bridge Financing
Fox's bridge product is designed for the gap between completed project milestones and progress payment receipt. If you completed a \$200K milestone 2 weeks ago and the GC says payment is 60 days out, Fox can advance against that specific receivable at factor rates 5-10 basis points below standard MCA because the payment source is identifiable and contractually obligated. Bridge deals typically fund in 1-2 business days and are ideal for subcontractors who need to start the next phase while waiting on payment for the last one.
How It Works
Apply & Share Project Info
Complete the application with business details, current projects, and active contracts or purchase orders.
Bank Statement Review
Submit 3-4 months of bank statements. For construction clients, current contracts and A/R aging reports strengthen the application.
Underwriting & Offer
Fox evaluates your revenue, project pipeline, and industry risk to put together a funding offer that fits your situation.
Funding & Execution
Sign the agreement and receive funds deposited to your account, typically within 1-3 business days.
What They Do
- Merchant Cash Advance
- Term Loans
- Equipment Financing
- Bridge Financing
- Working Capital
Debt Types They Take On
- Merchant Cash Advance
- Short-Term Loan
- Equipment Financing
- Bridge Loan
- Working Capital
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
General Contractor Bridge — $250K with Balloon Payment
A general contractor in Long Island with a \$2M commercial renovation had a 90-day gap between the second and third progress payments. He needed \$250,000 to pay subcontractors (\$180K) and purchase materials (\$70K). A standard MCA provider declined because the bank statements showed irregular deposits. Missing subcontractor payments would trigger \$35K in contract penalties.
Plumbing Company Equipment — $80K Bi-Weekly Payments
A 3-person plumbing company in Queens doing \$22K/month needed \$80,000 for a camera inspection system (\$35K), pipe lining equipment (\$25K), and a work van (\$20K) to bid on commercial contracts. The owner had a 570 FICO and two other MCA providers had declined because plumbing was auto-flagged as "high-risk."
Pros & Cons
Pros
- Construction-specific underwriting evaluates contracts, project pipelines, and receivable aging rather than just bank deposits — producing approvals where general-purpose providers decline
- Repayment structured around project payment dates (progress payments, retainage releases) rather than generic daily ACH reduces cash-flow strain during gaps between milestones
- Bridge financing for progress payment gaps provides critical short-term capital without the 60-90 day wait for bank credit line approval
- Equipment value (existing and being purchased) strengthens applications and can improve factor rates through asset-backed underwriting
- Understands construction terminology (retainage, change orders, bonding, subcontractor liens) that general MCA underwriters misinterpret as risk factors
Cons
- Smaller company (\$350M+ funded, 450 reviews) has less institutional scale than providers with \$1B-\$15B funded — less market-tested infrastructure
- Factor rates for non-construction businesses (1.30-1.48) are higher because Fox's specialized advantage does not apply, making general-purpose providers more competitive
- Limited online self-service — most deals require phone interaction and manual document exchange, slower than fully digital platforms like Fundbox or Bluevine
- A- BBB rating is below the A/A+ ratings of larger competitors, suggesting proportionally more complaints relative to deal volume
User Reviews (20)
you get what you pay for
Not bad not good. $8K for supplies. It is what it is I guess.
mostly positive
fast money
meh at best
Funded $150,000 for new oven. Rate was higher than quoted, customer service disappeared after signing.
the real deal
I was nervous about MCAs but Fox Business Funding was upfront about everything. $40K at 1.30, daily payments, total cost. No hidden stuff.
not the best not the worst
Middle of the road. $75K for my ecommerce store. Daily payments were rough during slow weeks and they offered zero flexibility.
4 out of 5
Fox Business Funding is decent. Got $150K for renovation. Only gripe is you can't adjust payment amounts during slow months.
mostly good
yep
good not great
Second time using Fox Business Funding. Rate improved from last time. $15K at 1.17. Not cheap but faster than a bank.
fast funding
My bank turned me down twice. Fox Business Funding approved me same day for $15K. Not cheap but it saved my HVAC company.
take it or leave it
Meh. Fox Business Funding is ok. $60K for my pawn shop. The rate is too high honestly but I was in a bind.
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Important Merchant Cash Advance Disclaimers
- Merchant cash advances are not loans. They are purchases of future receivables at a discount. Factor rates, not APRs, determine the total cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the factor rate and repayment speed.
- Repayment is typically made through daily or weekly automatic ACH debits from your business bank account. Missing or reversing these payments may trigger default provisions including accelerated repayment, increased factor rates, or legal action.
- Many MCA agreements include a personal guarantee and/or a confession of judgment (COJ). A confession of judgment allows the funder to obtain a court judgment against you without prior notice or a hearing. Some states have restricted or banned confessions of judgment.
- MCA funding may require a UCC-1 filing (blanket lien) on your business assets. This lien can affect your ability to obtain other financing and may remain on file even after the advance is repaid. Confirm lien release procedures before signing.
- There is no federal regulation specifically governing merchant cash advances. MCAs are not subject to Truth in Lending Act (TILA) disclosure requirements. Some states have enacted disclosure laws, but protections vary significantly by jurisdiction.
- Stacking multiple merchant cash advances simultaneously increases your risk of default and can create a debt cycle that is difficult to escape. Carefully evaluate your business cash flow before taking on additional advances.
- Zogby does not provide merchant cash advances or business funding. We are an independent comparison service. We do not broker, originate, or service any financial products. All offers are subject to the funder's terms and conditions.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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