Mintmead Funding, a small-business funding service in Louisville, Kentucky, sets out how a request moves: the first call or form, a shortlist of structures, review by a funding partner who makes its own decision, and a written offer you can accept or decline. It also covers business plans and LLC paperwork.
How to get a business loan for a business in Louisville, KY?
Start with the cost. Call (502) 280-3487 or send the short request form, and say what the money has to pay for, how much it is and when it falls due. On the first call we ask how the business gets paid, by card, invoice, insurance claim or contract draw, because that points toward the structure. Then the request goes to funding partners that handle that kind of cost; each one reviews it and makes its own decision.
- Describe the cost. The amount, the due date and what it buys.
- Narrow the structures. Of the six, which two or three suit the cost and your deposits.
- Partner review. A partner reads the request and asks for any records it needs.
- Your decision. Any offer comes in writing; you compare the total cost and accept or decline.
The six structures compared page explains each structure before you call, and the FAQ answers first questions about collateral, rates and records.
How to get a business loan to buy a hotel?
A hotel purchase is a large, asset-heavy request, so the review goes deeper: the property or lease, the operating history, the furniture and fixtures, and the buyer's own investment. Bring the purchase agreement or letter of intent, the seller's financial statements and tax returns, and your own. A term loan for the business and equipment financing for room fixtures can be paired in one request.
How to get a business loan for a coffee shop: notes for Jefferson County, KY businesses
A coffee shop request is mostly about equipment and the first months of operation: an espresso machine, grinders, refrigeration, a build-out and opening wages. An existing shop shows its bank statements and card settlements; the equipment quotes show what the money buys. Requests to start a shop from scratch fall outside what this site arranges, since startup loans are not among the six structures.
How to get a business loan for an LLC: what Louisville, KY owners should check
When the borrower is an LLC, the partner reads the company as well as its owners. Have these ready:
- The articles of organization and any amendments.
- The IRS letter showing the company's EIN.
- The operating agreement, showing who owns what share and who may sign for the company.
- Business bank statements in the LLC's name.
- A photo ID for every owner expected to sign the agreement or stand behind it personally.
Whether an owner signs a personal guarantee is set by the partner's offer. Read that clause before signing, and ask a lawyer about anything in it you do not follow.
Business plans for loan approval, explained for Louisville, KY owners
A business plan does not decide approval; the partner's review does. A short, specific plan helps that review, though. Partners read for three things: what the money pays for, how the business earns the money to pay it back, and what happens if sales slip. A plan that answers those on two pages does more than a long one that does not.
How to make a business plan for a loan? How it plays out in Louisville, KY
- One paragraph on the business: what it sells, to whom, since when.
- The cost: amount, quotes or invoices, and the date it is due.
- Twelve months of revenue and expenses, from your books or bank statements.
- A monthly cash projection for the life of the payments, showing the payment as a line.
- What you are putting in yourself and any collateral.
The projection is the part partners lean on. If the payment does not fit inside the projected month, the structure or the term may need to change, which is a conversation for the first call. Once a plan is ready, the request form is the next step.
By Mintmead Funding · Updated