Slateshire Finance, a small-business funding service in Sanford, NC, matches your request with funding partners, who review it and make their own decision. Owners describe an expense by phone or form, we agree on the structure that fits, and funding partners review the request and ask for documents. This page covers each step, what partners look for, the documents checklist and what affects timing.
Four steps from first call to written terms
- Describe the expense. Call or send the short form with what needs paying and roughly when.
- Settle on a structure. We discuss which of the six options suits the timing and the purpose.
- Partner review. A funding partner asks for the records it needs and makes its own decision.
- Your decision. Any offer comes in writing. Compare it, ask questions, accept it or decline it.
Slateshire Finance is a broker, not a lender. We do not make credit decisions or set rates; the partner that reviews your request does both.
Step one: the first call or the short form
The request form asks for your full name, phone and email, your company name if you want to give it, and three short picks: how long the business has been operating, a range for annual revenue and a range for the amount you are requesting. A consent box covers how we may contact you.
Paperwork waits until later. The conversation is about the purpose: payroll for a job, a machine, a season's stock, a second site. A precise description of the bill and its due date helps the next step.
Step two: matching the request to a structure
The same amount of money can be requested in very different ways. Six weeks of wages suit working capital; a mower fleet suits equipment financing; uneven monthly costs suit a line of credit. The comparison of all six options shows the pairings. Settling this before a partner sees the file avoids an offer built for the wrong problem.
Step three: what lenders look for when you apply for a business loan
Every partner has its own requirements, and none are published here. In general, reviewers may look at a handful of things:
- Cash flow: deposits, balances and how the account behaves through the month
- Time in business and revenue: how long the business has operated and what it brings in
- Credit history: business and, often, personal
- Existing obligations: other loans, leases and advances, and their payments
- Purpose and collateral: what the money buys and whether it secures the deal
Those are the practical answers to what the requirements are for getting a business loan: proof the business can carry the payment, and clarity about what the money is for.
Business loan documents checklist
Partners request documents after the first review, not before. Having these ready saves a round of back-and-forth:
- Business bank statements for the most recent months
- Business tax returns, and sometimes personal returns
- A current-year P&L along with a balance sheet
- Current debts, leases and advances, listed with payments
- Photo ID for every owner
- Purpose documents: equipment quotes, supplier invoices, contracts, a lease or a purchase agreement
Which of these are required depends on the structure and the partner. A small working capital request may need only statements; a business purchase can need most of the list.
Bank statements for business loans: what partners read in them
Statements show cash flow directly, so partners read them closely. Reviewers may look at average balances, the rhythm of deposits, overdrafts or returned items, and payments to other funders.
If something unusual sits in your statements, such as a one-time insurance payout or a large equipment purchase, explain it up front.
How long does it take to get a business loan approved through a partner?
There is no standard answer, and no timing is promised here. Speed depends on the partner, the structure and how fast documents come together. A clear purpose and complete statements give a partner less to ask for. Larger term loans and anything involving property can involve more steps than equipment or working capital.
More detail on credit and timing questions is on the owner FAQ. County figures for the market are on the Sanford, NC business page. When you are ready, start a request.
