At a Glance
Rating Breakdown
About Ibex Funding
Ibex Funding operates out of Fort Lauderdale. Been in business since 2016. Over $500 million funded. The entire model caters to the business owner who\'s already heard no from everyone else. Bankruptcies. Tax liens. Previous MCA defaults. Credit scores in the 400s. If your financial history is a wreck but your current revenue is solid, Ibex will still take the call. They underwrite based on where your business is right now, not where it was 3 years ago. Current deposits, recent revenue trends, present-day cash flow. Factor rates run higher than what a clean-credit borrower pays elsewhere -- typically 1.20-1.55. That\'s the price of the risk Ibex absorbs. But for the business owner who\'s been declined by 5 funders and is running out of runway, paying a premium beats having no capital at all. Advances from $5K to $400K, daily or weekly ACH.
Key Features
Past Default Accepted
Defaulted on a previous MCA or business loan? Ibex does not automatically reject you for that. If your current revenue shows you can handle a new advance, they will take a look.
Bankruptcy-Friendly
A discharged bankruptcy on your record does not kill your application. Ibex wants to see that the bankruptcy is behind you and the business is running steady now.
Tax Lien Flexibility
Tax liens, active or recently resolved, are not automatic deal killers. Ibex looks at whether you have a payment plan in place and how the lien affects your overall financial picture.
Rapid Turnaround
Even with the messy financial profiles Ibex takes on, decisions come back within 24 hours. Approved advances fund within 48 hours. The complicated backstory does not slow down the process.
How It Works
Apply with Full Disclosure
Fill out the application and be straight about your financial history. Ibex already expects complicated backstories. Hiding things slows you down.
Document Submission
Upload 4 months of bank statements plus any paperwork related to prior defaults, liens, or bankruptcies.
Custom Risk Assessment
Ibex weighs your current revenue against your past issues to set a factor rate and advance amount that reflects where you are today.
Funding
Accept the offer and get the money in your account within 24-48 hours.
What They Do
- Merchant Cash Advance
- Second-Chance Funding
- Working Capital
- Revenue-Based Advance
Debt Types They Take On
- Merchant Cash Advance
- Revenue-Based Financing
- Working Capital
- Emergency Business Funding
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Post-Bankruptcy Restaurant Reopening
Restaurant owner in Miami filed Chapter 7 in 2022, discharged in 2023, and relaunched with a new concept. Needed $50K for kitchen build-out. Rejected by 5 lenders.
MCA Default Recovery
Plumbing company defaulted on a $30K MCA during COVID but rebuilt revenue to $120K/month. Needed $75K for new service vehicles.
Pros & Cons
Pros
- Considers applicants with prior MCA defaults
- Accepts businesses with past bankruptcies after discharge
- Tax lien flexibility not offered by most competitors
- Fast turnaround despite complex underwriting profiles
- Provides a genuine funding option when others say no
Cons
- Higher factor rates (1.20-1.55) due to risk profile of clientele
- Shorter maximum terms compared to mainstream MCA providers
- Origination fees can reach 5% on higher-risk profiles
User Reviews (15)
standard MCA nothing more nothing less
Ibex offers a standard merchant cash advance product. Daily ACH. UCC lien. Personal guarantee. Factor rates in the 1.25-1.40 range. No unique features, no innovative repayment models, no multi-product options. If you need a basic MCA from a responsive funder, Ibex works. If you're looking for something different or cheaper, keep shopping. $25K at 1.28. Fine. Just fine.
competitive on smaller advances under $50K
Ibex seems to focus on the $10K-$50K range. My $35K advance at 1.26 for my auto shop was priced competitively. But when I asked about a larger $100K advance later, their rate jumped to 1.38. They don't seem as comfortable with bigger deals. For small to mid-sized advances, Ibex is a solid option. For six figures, look at funders who specialize in larger positions.
ibex was flexible on documentation requirements
Some funders want 6 months of bank statements, tax returns, P&Ls, and a business plan. Ibex asked for 3 months of bank statements and a voided check. That's it. For a $20K advance at 1.26, the minimal documentation requirement made the process fast and painless. My coffee shop was funded in 2 days. Less paperwork = faster funding = happier business owner.
they approved me when two bigger funders said no
Two well-known MCA companies declined my application because my salon had only been open 8 months. Ibex approved me for $20K at 1.30 based on my deposit trends even though I was under their usual time-in-business threshold. The rate was a bit higher but hey — at least they funded me. Sometimes a slightly more expensive yes is better than a cheap no. Ibex took a chance on me and I've paid back every penny on time.
Fort Lauderdale based and they understand FL businesses
Being in South Florida, Ibex understands the seasonal patterns of Florida businesses — tourism peaks, hurricane season, summer slowdowns. My landscaping company's revenue pattern wasn't confusing to them. Got $40K at 1.26 with a payment schedule that accounted for my slower summer months. Local market knowledge matters in underwriting. Not a huge deal but it saved me from explaining my business model from scratch.
good option for businesses between 6-12 months old
Most funders want 12+ months in business. Ibex will work with 6-month-old businesses which opens the door for newer operations that need working capital. My restaurant was 9 months old when I applied. Got $35K at 1.30. The rate was slightly higher than what established businesses get but having access to capital at all was the priority. Ibex fills a gap in the market for newer businesses.
quick approval for a newer funder
Ibex isn't a household name in MCA but they came through with $40K at 1.26 for my restaurant in 48 hours. Application was simple, the underwriting team was responsive, and the contract was clean. Sometimes the less-known funders try harder to earn your business. Ibex felt hungry and motivated to make the deal work. Factor rate was competitive with bigger names.
newer company so limited track record
Ibex is relatively new to the MCA space which makes me cautious. Less history means less data on how they handle disputes, renewals, and difficult situations. My $30K advance at 1.28 went smoothly but I can't speak to long-term reliability. If you prefer established funders with decades of track record, Ibex might not give you that comfort. If you're willing to try a newer player, the rates are competitive.
the personal touch at Ibex was refreshing
At bigger MCA companies you're a number. At Ibex, my funding rep knew my name, my business, and my situation. He called me twice after funding just to check in and ask how the advance was working out. That personal attention is rare in this industry. $30K at 1.26 for my catering company. The rate wasn't the lowest but the service quality made me feel valued. I'll go back to Ibex for my next advance.
okay rates but nothing that blew me away
Ibex quoted 1.30 on $30K. I got 1.24 from Everest for the same amount. Ibex isn't offering anything unique enough to justify the premium. If you've been turned down elsewhere and need a funder that's more flexible on qualifications, Ibex makes sense. If you qualify broadly, shop your deal — you'll probably find better rates. My deli deal was fine, just not the best offer I received.
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Important Merchant Cash Advance Disclaimers
- A merchant cash advance is not a loan. It is a purchase of future receivables at a discount. Factor rates, not APRs, are used to express the cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the term and factor rate.
- Repayment is typically collected daily or weekly via automatic ACH debits or a percentage of credit card sales. This means your repayment amount fluctuates with revenue but withdrawals occur every business day, which can strain cash flow during slow periods.
- Most MCA agreements require a personal guarantee from the business owner. In the event of default, the MCA provider may pursue the owner's personal assets, including bank accounts and property.
- MCA providers commonly file UCC-1 liens against your business assets. This lien may prevent you from obtaining additional financing until the advance is fully repaid and the lien is released.
- Merchant cash advances are not regulated by federal lending laws such as the Truth in Lending Act (TILA). State regulations vary widely, and some states have limited consumer protections for MCA products.
- Stacking multiple merchant cash advances (taking a second advance before the first is repaid) significantly increases the risk of default and can lead to aggressive collection actions including confessions of judgment in some jurisdictions.
- Zogby does not provide merchant cash advances or business financing. We are an independent comparison service. We do not fund advances, process applications, or guarantee approval on your behalf.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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