Slatebend Business Capital, a small-business funding broker in Cleveland, Tennessee, handles a request in four steps: a call about the purpose, matching it to a funding structure, introduction to lending partners that offer that structure, and your own comparison of any offers. Partners alone review, approve and set rates and terms.
Broker vs lender: who does what
A lender puts up the money, underwrites the request and sets the terms. A broker does none of the three. What a loan broker does is narrower: it helps you choose the right structure, prepares the request so a lender can read it, and introduces it to lenders that write that structure. Slatebend Business Capital is a broker, not a lender.
Step 1: the purpose call
Everything starts with what the money has to pay for, how much the job needs and how the business will pay it back. The online form takes your name, email, phone and business name plus three range picks (time in business, revenue, amount), but not the purpose, so we ask about that when we call. Expect questions about revenue, how long you have operated, and existing debts or advances. Nothing is sent to a partner on this call.
Step 2: choosing the structure
Purpose leads to structure. Payroll during a known gap points to working capital; a fit-out to a term loan; recurring bills to a line of credit; a stock order to inventory financing; a machine to equipment financing. A merchant cash advance is not a loan and is discussed separately, with its total cost in dollars.
Step 3: the partner's review
With your permission, the request goes to partners that offer that structure. Each runs its own review, which commonly covers:
- Business bank statements and revenue.
- Time in business and the entity's record with the Tennessee Secretary of State.
- Business and owner credit.
- Existing debts, liens and advances.
- Collateral or the equipment being bought.
The partner may approve, decline or offer something different from what you asked for. Slatebend cannot change that decision.
Step 4: Weighing the Offers
Offers resist comparison because each type is priced its own way. Line them up on the same three numbers:
| Offer type | Price shown as | Compare on |
|---|---|---|
| Term loan or credit line | Interest rate, often an APR | Total repaid and the payment calendar |
| Equipment lease | Monthly rental | All rentals plus any buyout |
| Merchant cash advance | Factor rate | Total collected in dollars and the holdback |
Ask for the total amount you will pay over the life of the deal, how often payments are taken, and what happens if you settle early. Then decide, or walk away. Declining an offer costs you nothing with Slatebend.
How to get a business loan without getting burned
- A promise of approval before anyone has read your file.
- Being rushed to sign before you have slept on it.
- Someone asking for money up front when no offer has been made yet.
- A quote given only as a factor rate or a daily payment, with no total.
- A funder that discourages you from reading the contract.
Any of these is a reason to stop. More short answers are on the FAQ page, the formal broker terms are on the disclosures page, and free, independent help is listed on the Bradley County resources page.
By Slatebend Business Capital · Updated
