Founded in 2018, Velocity Capital Group is a rapidly developing company of financial experts dedicated to helping their clients find capital funding for their businesses. Jay Avigdor, the company's founder and CEO, started it from his home, growing the business from one employee to 18 in only a year.
Velocity Capital Group is verified by the Better Business Bureau. It is a reliable funder in the business loans space and is continuously helping new clients find suitable and effective MCA solutions for their businesses.
Velocity Capital Group features an application process that's more concise and streamlined than other funders. Businesses can access up to $1 Million dollars next day through VCG's seamless business advances. By asking for fewer financial documents and integrating the latest software, Velocity's underwriting team is able to process and respond to funding requests with industry-leading speeds.
To apply for funding with Velocity Capital Group you'll need to meet the company's business requirements.
Velocity Capital Group asks that businesses applying for funding meet the following business requirements:
To apply for funding, the company must submit an online application and three months of bank statements.
The company's underwriting team looks at all parts of the business information on the application to build a full picture of the business applying for funding. The team at Velocity Capital Group understands that creditworthiness doesn't tell the full story when it comes to a business's creditworthiness, so a 500 credit score is all that is needed for consideration.
Velocity Capital Group notifies applicants if the funding request has been approved within the hour and sends out terms for funding that the applicant can review. If approved by the applicant, the business will undergo additional screening before contracts for the funding amount are created.
Not all financial companies offer repayment flexibility, but Velocity Capital Group makes this a viable option for its customers. After at least half of the predetermined advance sum has been paid off, Velocity Capital Group can provide additional capital by offering additional capital through another business advance with improved rates.
Each month, Velocity chooses a charity to which 10 percent of proceeds are donated. Charities such as The Wounded Warrior Project, National Police Support Fund, Chai Lifeline, and New Isreal Fund have all been selected as recipients. Donation contribution is a mark of a good company in the business loan and general business industry.
Velocity Capital Group continuously looks for new ISOs to join their network. The company provides ISOs with a seamless online onboarding process and monthly incentives through their monthly and surprise bonuses.
Velocity Capital Group does not offer funding for start-ups. Businesses must have eight months' experience to be considered for a loan.
Velocity Capital Group’s website provides little information on the fees associated with its services. There are no APR rates or origination/closing fees mentioned. These fees are normal in the industry and customers should be aware of such fees when working with Velocity Capital Group.
Velocity Capital Group is a good option for small businesses in need of a loan. If your business has existed longer than eight months, makes more than $20,000 in monthly revenue, and has a credit score over 500, you would clear the prerequisites for applying for a loan.
As a company in the business loans sector, Velocity Capital Group has one of the lowest credit score approval thresholds of only 500. This is helpful for businesses who meet the prerequisites typical of other business loan companies but struggle with a low credit score.
Velocity Capital Group has repeatedly shown its success in helping small businesses receive their needed funding in order to thrive, so this is a viable option for your business's MCAs or loans.
As with all financial products, customers should stay alert to hidden fees or closing charges when reading through a contract. Make sure you understand all terms before signing an agreement.
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