Fieldcroft Business Capital, a small-business funding broker in Great Falls, Montana, handles a request in four steps: a call about the purpose, a check of entity status and liens, a review by a lending partner that writes that structure, and your decision on any offer. The partners decide, and partners price.
Step 1: the call
Everything starts with the purpose. Which bill does the money pay, when is it due, and where does the cash that repays it come from? Those three answers rule most structures in or out before any paperwork. The online form only takes your name, email, phone and business name, so the purpose comes up when we call you back.
Owners getting a business loan for the first time often expect a long application at this stage. It is not needed yet. A clear purpose matters more than a stack of documents.
Step 2: the record check
Before a request goes to any partner, we look at the public record the partner will look at anyway. Is the entity in good standing with the Montana Secretary of State? Is the annual report current? Are there UCC financing statements filed against the business, and does anyone remember what they secure?
Problems found here are much easier to fix before a partner sees them. Our guides to Montana annual reports and certificates of existence and the Montana UCC search explain both checks. Licensing and zoning questions for a Great Falls, MT location are covered in a separate guide.
Step 3: matching and partner review
With the purpose and record clear, we pick the structure: working capital, a term loan, a line of credit, inventory financing, equipment financing or a merchant cash advance. The request then goes to lending partners that write that structure.
The partner does its own underwriting. It may ask for bank statements, tax returns, a quote or a lease. It decides whether to offer, and on what terms. Fieldcroft Business Capital does not approve or price anything.
Step 4: weighing the offers and choosing
Offers arrive in writing from the partner. Compare them on the same footing:
- Total cost: every payment added up, plus fees, minus nothing.
- Payment rhythm: daily, weekly or monthly, set against when your cash comes in.
- APR versus factor rate: a loan's APR is annual; an advance's factor rate is a flat multiplier, so a fast collection makes it costlier than it looks.
- Security: which assets are pledged and who signs personally.
Declining every offer is a normal outcome. You owe no explanation.
Do Montana credit unions make business loans?
Yes, many credit unions and banks make business loans, and owners with time to apply directly should ask their own institution first. A broker is useful when you want several structures compared, when your bank has said no, or when the need does not fit a standard bank product. Our list of free local resources also covers advising options.
Red flags to walk away from
- Anyone promising approval before a partner has reviewed the file
- A demand for payment before you have received an offer
- Pressure to sign before you have read the offer, or to borrow more than you asked for
- An offer that calls a merchant cash advance a loan
Anything here unclear? The FAQ has short answers, and our disclosures set out the broker arrangement.
By Fieldcroft Business Capital · Updated