Fieldstone Lending, a small-business funding broker in Gillette, Wyoming, handles each request in four steps: a call about the bill, a match to the right structure, a lending partner's underwriting, and your decision. The partner reviews the business and sets any terms. This page also covers comparing offers on total cost and the warning signs worth knowing.
Step 1: a conversation about the bill
Phone us, or leave the short request form and wait for our call. The first questions are practical: what has to be paid, by when, and how money reaches the business. A restaurant paid by card daily and a contractor paid by progress draw need different structures for the same amount.
For a business that is new, the first steps look the same. Expect more questions about the owner's own history and contribution, because a partner has less operating record to read.
Step 2: pick the structure that fits the bill
We set the bill against the six structures. A one-off gap points to working capital; a recurring one to a line of credit; a project with a fixed price to a term loan; a machine to equipment financing; stock to inventory financing. A merchant cash advance, which is a purchase of receipts and not a loan, comes up only when card revenue makes it relevant.
If you are torn between a line and a term loan, the post line of credit or term loan? sets out the trade-offs.
Step 3: the partner's underwriting
Underwriting means the partner studies the file and decides whether to fund, and on what terms. It usually covers:
- Bank statements, read for deposit levels and how steady they are.
- Time operating, the legal entity and any trade name on file.
- The business's credit file and, frequently, the owner's.
- Existing debts, liens and advance remittances.
- For larger requests, tax returns or financial statements, and quotes for whatever is being bought.
We help gather the documents and make sure names and figures agree across them. The decision itself belongs to the partner.
Step 4: set the offers side by side, then choose
Loan offers usually state an interest rate and often an APR, which folds certain charges into one annual figure. Merchant cash advances state a factor instead. Because the two measures are not interchangeable, line offers up by three numbers: the amount you receive, the total you will pay back, and how long payback is expected to take.
| Number | Where to find it | Why it matters |
|---|---|---|
| Amount received | The offer, after any charges withheld | What you can actually spend |
| Total paid back | Payment times number of payments, or the factor times the advance | The real cost in dollars |
| Expected payback period | The term, or the funder's estimate for an advance | How long the payment stays in your budget |
Warning signs with any funder
- Talk of approval before a single statement has been read.
- Pressure to sign before the call ends, with no written total.
- An agreement with blank spaces or terms that differ from what was said.
- A funder that will not put the total payback in writing.
Where else to get help
Free advising exists outside any broker. The Campbell County help directory lists where to look. Our disclosures set out the broker arrangement, and the FAQ answers short questions.
By Fieldstone Lending · Updated
A question for Fieldstone Lending on S Gillette Ave in Gillette, WY?
Torn between structures? Phone, or start online.