Tallglen Commercial Capital, a funding service in Greenwood, South Carolina, takes a funding request by phone or form, narrows six funding types to the ones that suit the expense, and passes the request to funding partners, who review the records and make their own decision.
Four Stages From Expense to Answer in Greenwood, SC
- Describe the expense. Call (864) 523-5646 or send the request form: contact details plus range answers for time in business, annual revenue and the amount requested.
- Narrow the options. On the call back we talk through what the money pays for, when it is due and how sales come in, and name the one or two funding types that suit it.
- Partner review. After you say yes, a funding partner receives the request. The partner names the records it wants and makes its own decision.
- Your decision. If an offer arrives, read the total dollar cost, the payment schedule and every fee. Accepting is your choice.
No records are needed to start.
Business Loan Documents Checklist: What Greenwood County, SC Owners Compare
| Record | What a partner learns from it | When it is asked for |
|---|---|---|
| Business bank statements | Deposits, balances and existing payments | Nearly every request |
| Business tax return | Reported revenue and profit | Term loans, lines of credit, larger amounts |
| Profit-and-loss statement and balance sheet | Current-year results and what the business owns and owes | Term loans and lines of credit |
| Equipment quote | What is being bought and its value as collateral | Equipment financing |
| Receivables aging report | Who owes the business and how long they take to pay | Invoice-based businesses |
| Card processing statements | Card sales by day or month | Merchant cash advances |
| Purchase agreement and seller's returns | What a business purchase includes and earns | Acquisitions |
Documents Required for Business Loan: What Partners Review in Greenwood, SC
A partner reads the records for consistency: do the deposits match the revenue range on the form, does the tax return match the statements, and are existing payments listed? Gaps are not automatically a problem, but unexplained ones raise questions. A short note explaining an unusual month, a one-time sale or a large refund can save a round of follow-up.
Owners buying equipment should also expect a question about property already reported; the South Carolina business personal property tax return guide covers that record.
Bank Statements for Business Loans Across Greenwood County, SC
Bank statements are the record partners ask for first because they show money actually moving. Partners look at monthly deposits, the average and smallest balances, overdrafts or returned items, and recurring debits for other loans, leases and advances. Use the business account's statements as the bank issues them, as PDF downloads, not screenshots.
If business and personal money share one account, separate them going forward. A partner reviewing a mixed account has to guess which deposits are business revenue.
What Do Banks Look at for a Business Loan? How Greenwood County, SC Owners Approach It
Banks and other partners weigh the same broad questions: whether the business generates enough cash to cover the new payment, whether the owners have a record of meeting obligations, what secures the loan, how long the business has operated, and what the money is for. Each partner gives each question its own weight, which is why two partners can answer the same request differently.
Lines of credit and merchant cash advances are read differently; see the line of credit page and the merchant cash advance page.
What Credit Score Do You Need for a Business Loan? What Greenwood County, SC Owners Should Know
Tallglen knows of no universal cutoff score. Each partner sets its own credit standards, and they differ by funding type and amount. Tallglen does not quote a score that would qualify a request. Owners can check their own personal credit reports before applying and correct errors with the reporting bureau; business credit files can be checked with the business bureaus.
What Documents Do I Need for a Business Loan? What Greenwood County, SC Owners Should Know
To start: nothing beyond the request form. After the first call, the partner reviewing the request names what it needs, starting with the bank statements and tax return in the table above, plus a photo ID for the owners and the business's formation documents.
Answers to more questions sit on the FAQ.
By Tallglen Commercial Capital ยท Updated