This page from Fieldhaven Business Funding in Valparaiso, Indiana lays out how a business funding request moves, step by step, from the first call or form to a funding partner's written terms. It includes a business loan documents checklist, what partners read on bank statements, how credit scores are weighed, and what the owner decides at the end.
How to Get a Business Loan Through Fieldhaven, Step by Step
- Describe the bill: call (219) 206-9543 or send the request form with contact details and three range picks.
- Talk it through: what the money pays for, roughly how much, and which income repays it.
- Match the type: the bill is set against six funding types, and one or two can stand out.
- Partner review: a funding partner studies the request and lists any records it needs.
- Offer or decline: the partner decides, and any offer arrives in writing.
- Owner's decision: read the full agreement, compare it, and sign only if it works.
Nothing in this order asks the owner to commit before seeing written terms. A partner can decline, or can offer a different amount or structure from the one requested; the owner can turn down any offer.
Business Loan Documents Checklist for a Porter County, IN Owner
Gather these only when a partner names them, but knowing where each one is saves time later:
- Complete monthly statements from the business bank account, with no pages missing.
- The latest business tax return, or the Schedule C for a sole proprietor.
- A year-to-date income statement and a current balance sheet for the business.
- Photo identification for every owner holding a meaningful stake.
- The quote, invoice, purchase order or letter of intent behind the request.
- A one-page schedule of current loans, leases and advances and what each costs monthly.
- For a secured request: titles, serial numbers or a stock list.
Each partner keeps its own list; some products need only statements, others the full set.
Documents Required for a Business Loan by Product Type
| Product | Records a partner can name first |
|---|---|
| Line of credit | Bank statements, tax return, receivables aging for larger limits |
| Equipment financing | Dealer quote, bank statements, serial number and hours for used machines |
| Working capital | Recent bank statements, sometimes card processing statements |
| Term loan or acquisition | Several years of returns, financial statements, purchase agreement |
| Inventory financing | Supplier invoices, stock list, sales reports |
| Merchant cash advance | Card processing statements and bank statements |
What Do Banks and Funding Partners Look At for a Business Loan?
Reviewers read five things in some form: whether the business earns enough to make the payment, its track record over time, the owners' credit, what security stands behind the request, and whether the purpose of the money makes sense for the business. Banks weigh tax returns and financial statements heavily; specialty funders lean more on recent bank deposits. Neither looks at one number alone.
Bank Statements for Business Loans: What a Reviewer Reads
On statements, a reviewer reads average deposits, the smallest balance in each month, the number of days the account ran negative, returned items, and existing loan or advance debits. Illustration only, invented figures: six months of invented deposits of $41,200, $38,900, $45,600, $36,100, $43,800 and $40,400 average $41,000 a month (our arithmetic), and a partner can size an offer from that average rather than from the strongest month.
Deposits from transfers between the owner's own accounts are not revenue; mark them so the reviewer does not count them twice.
What Credit Score Do You Need for a Business Loan Through a Funding Partner?
There is no single number. Each partner sets its own minimum by product, and some read business credit files as well as the owners' personal scores. A lower score can narrow the choices or raise the price; a strong one does not by itself secure an offer. Check personal credit reports for errors before a request goes in, since mistakes there can affect a review.
The FAQ answers questions about LLCs and early payoff, the line of credit page covers revolving limits, and the merchant cash advance page explains why an advance is reviewed differently.
By Fieldhaven Business Funding ยท Updated