Goldwell Commercial Capital, a small-business funding broker in Medford, Oregon, works in four steps: a call about the cost, a match to one of six options, a review by lending partners, and the owner's decision on any offer. Each credit decision, rate and term stays with the partners. This page also covers comparing offers and spotting red flags.
Step 1: the cost, in your words
Call, or leave your contact details and three range picks on the short form for a call back. On that call we ask what the money pays for, when it is needed, roughly what it costs and how the business earns. At this point no file leaves Goldwell.
Step 2: we match an option
The purpose points to one or two options: working capital for a short gap, a term loan for a long-lived project, a credit line for recurring costs, inventory financing for stock, equipment financing for a machine, or a merchant cash advance, which is not a loan. We list the records partners usually want and, with your agreement, send the request to partners that offer that option.
Step 3: a partner reads the file
The partner reads the records, may ask for more, and decides. If it makes an offer, it sets the amount, rate or factor, term, collateral and conditions. We cannot change any of that, and we cannot promise a decision or a date.
- Several recent months of statements from the business account.
- Returns and year-end statements when the amount is larger.
- Entity records and the business's legal and assumed names.
- Existing debts, leases and advances.
- The owners' credit records, with consent.
Each question a partner tends to ask, and how to prepare for it, is set out in what a lender asks a Medford, OR owner.
Step 4: yes, no or not yet
Compare offers by total cost and payment rhythm. For loans, ask for the APR where one is stated and the total repaid. For an advance, ask for the total collected and the net amount received; a factor rate cannot be set beside an APR directly. Then look at how often payments are taken against how often money arrives. Declining is always an option, and an offer you do not understand is a reason to wait.
Online broker vs bank: what is the difference?
A bank lends its own deposits and decides on its own applications. A broker like Goldwell Commercial Capital lends nothing; it helps you choose an option and introduces the request to partners, who may include banks and non-bank lenders. A broker can save you approaching lenders one by one, but it adds a party to the process, so ask how that party is paid.
Steps to apply for a small business loan are much the same either way: know the purpose, gather the records, compare total costs. Owners getting a business loan for the first time can get free preparation help from the advisers listed under Southern Oregon small business resources.
Signs a funding pitch is wrong
- Approval promised before a single record has been read.
- An upfront fee requested before any offer exists.
- Being rushed to sign within hours.
- An offer that states a payment but will not state the total cost.
- An advance described as a loan, or a loan described as having no cost.
Our disclosures set out what Goldwell can and cannot do, and quick answers cover the questions that come up most.
By Goldwell Commercial Capital · Updated