The business commits to nothing until it reads an offer and chooses to sign it.
A phone call or the request form opens every Valeshire Financial request. Funding partners review it, may check credit and ask for statements or tax returns, and decide on any offer. The business decides whether to sign.
The business loan underwriting process, stage by stage, for a Lenawee County, MI child care center's replacement van
In underwriting, a funding partner weighs whether the payment a business is asking about fits what the business brings in. A child care center in Lenawee County, MI replacing the passenger van it uses for field trips goes through these stages:
| Stage | Who acts | What the center brings |
|---|---|---|
| First contact | The owner | A call or the request form, with the dollar figure from the dealer quote |
| Purpose call | Valeshire Financial and the owner | What the van replaces and when the old one goes out of service |
| Partner review | A funding partner | Bank statements, the dealer quote and anything else the partner asks for |
| Any offer | The funding partner | Nothing yet: the center reads the rate, term and payment in writing |
| Signing and funding | The owner, then the partner | The signed agreement; the partner pays the dealer |
A partner may decline at the review stage, and the center may turn down any offer it receives. Either way, the van is the collateral only if the agreement says so.
Personal and business credit in a funding review, for a Lenawee County, MI landscaping company's owner
Two kinds of credit records can come up in a review. One is the owner's personal credit report and score. The other is the business's own credit file. A funding partner may check either one, or both.
If a partner checks credit during its review, the owner of a Lenawee County, MI landscaping company can ask what kind of inquiry it plans to make. Before calling, that owner can:
- Pull a copy of the personal credit report and look for errors
- Make sure the business name and address match across its bank, tax and supplier records
- Have a short explanation ready for any late payment on the report
Time in business, revenue and amount: small business loan requirements for a Lenawee County, MI therapy office paying a supplier
For a Lenawee County, MI therapy office, small business loan requirements come from whichever funding partner reviews its request, never from Valeshire Financial. The request form asks for time in business, annual revenue and the requested amount along with the contact details, and those answers let a partner see early whether a request fits its programs.
- Time in business: some partners may set a minimum, and an operating history helps a partner judge the request.
- Annual revenue: a partner may set it against the payment the request would create.
- Requested amount: for the therapy office, the supplier invoice it needs to pay.
- Credit: a partner may check personal or business credit, as described in the section on credit.
- Purpose: what the money pays for, which also steers the product, such as a working capital loan for a supplier bill.
A therapy office that falls short on one point can still send a request; the partner decides what to offer, if anything.
What documents do I need for a small business loan? A Lenawee County, MI physician office with insurance claims outstanding
The documents a funding partner may ask for depend on the product and the amount. For a Lenawee County, MI physician office whose insurance claims are slow to pay, the list can look like this:
- Business bank statements covering whatever stretch of months the partner specifies
- One or two years of filed business tax returns, newest first
- Year-to-date income and expenses, laid out as a profit-and-loss report
- An accounts receivable aging report that shows unpaid claims by payer and by how long they have been open
- Every loan or lease the office already pays on, with each monthly amount
- A government ID for each owner
The aging report matters here because it shows money the office is owed and when it may arrive. A partner may use it to size a working capital request against the gap.
What a bank statement shows next to a tax return: an Adrian, MI auto repair shop with a repair bill
Statements and returns answer different questions about the same business. An Adrian, MI auto repair shop asking about an invented $8,900 bill to repair its diagnostic equipment and service van can expect a partner to look at either, or both:
| Document | Covers | Shows a partner |
|---|---|---|
| Business bank statements | Recent months | Deposits, daily balances, existing payments and any overdrafts |
| Business tax returns | A full year or more | Revenue, expenses and profit as reported to the IRS |
Statements show how cash moves now; returns show how the year turned out. A shop whose recent months look different from its last return can explain the change on the call.
By Valeshire Financial ยท Updated
