Four parts: how this route differs from walking into a bank, what partners can ask to see, the steps in order, and how a grocer would describe a two-part request.
How to Get a Working Capital Loan From a Bank? An Example With Nail Tables
At a bank, an owner fills out that bank's application, and the bank decides by its own criteria. If it says no, the owner starts over somewhere else. Through Southshire Business Capital, one call describes the need, and the request goes to funding partners whose products fit it. Each partner still reviews and decides on its own.
A nail salon is a useful test. The owner wants working capital to carry payroll while new nail tables go in. A bank may fold both costs into one loan application. A clearer request splits them: the tables go to equipment financing, and the payroll gap goes to a working capital loan.
What Are Small Business Loan Requirements? An Example With Operatory Cabinetry
Each funding partner writes its own requirements, so the list changes from one partner to the next. A dental office financing operatory cabinetry can expect a partner to ask for some or all of these:
- How long the practice has been in business, and who owns it
- Annual revenue, and recent business bank statements
- The latest business tax return
- The contractor's or vendor's quote for the cabinetry
- Any loans or advances the practice is already paying
On the form itself, the fields cover who you are and how to reach you (name, phone, email, company name) plus three business ranges: time in business, annual revenue and the amount requested. Bank statements and returns are handed over later, at a partner's request, as part of its review.
What Are the Steps to Get a Business Loan? An Example With Refrigerated Cases
A grocer replacing refrigerated cases moves through the same steps as any other request:
- Reach Southshire at (856) 282-9823, or open the request form
- Talk through the cases, the quote and the store's deposits
- Southshire passes the request to partners with a product that matches the cases
- A partner reviews the request and asks for any documents it needs
- If the partner makes an offer, read its rate, term, payments and total cost
- Accept the offer or decline it; sending a request does not commit the store to anything
No step carries a fixed timeline here, because each partner sets its own pace for review.
How to Get a Business Loan: Bulk Buys and Shelving at a Grocery Store
A grocery that wants to buy a bulk load of paper goods at a discount and add shelving to hold it has two costs with different lives. The bulk buy sells through in weeks; the shelving stays for years. Describing them separately on the call lets each go to the product that fits it.
- The bulk buy: inventory financing, a line of credit or, with steady card sales, a merchant cash advance
- The shelving: equipment financing, with the installer's quote
- The deposits that cover both: bank statements for recent months
- The timing: when the discount on the goods runs out
The questions page answers common points about terms, amortization and advances.
By Southshire Business Capital ยท Updated