This page sets out how a business funding request moves through Tealford Business Capital in Houma, Louisiana: the first conversation, matching the need to funding types, a funding partner's review and decision, and the owner's choice. It also covers the documents checklist, bank statements, what banks and other funders look at, credit scores and a worked example.
Step 1: Describe the Purchase or the Bill
Start by phoning (985) 256-3087 or using the request form. The form takes contact details, the company name and three range picks: time in business, annual revenue and the amount. On a call, the conversation covers what the money pays for and what income pays it back. A machine quote, a payroll gap and a store purchase each lead somewhere different.
Step 2: Match the Need to One or Two Funding Types
With the purpose and the payback source known, six funding types narrow to one or two. A forklift points to equipment financing; wages before an account pays point to working capital or a line; a card-heavy business short on records can look at a merchant cash advance, which is not a loan. The owner hears why each fits or does not.
Step 3: A Funding Partner Reads the Records and Decides
Tealford places the request with funding partners. A partner reads the business's records, asks for anything it needs and decides whether to make an offer. Approval, amount, price, schedule and security are the partner's decisions alone. A partner can decline, or offer less or something different from what was asked.
Step 4: The Owner Reads the Offer and Decides
Any offer comes in writing. Read the total cost, every fee, the payment schedule, the collateral and any personal guarantee, and set it beside other offers or the option of not borrowing. Nothing is signed until the owner chooses to sign, and an offer can be turned down before signing.
Business Loan Documents Checklist: Six Items Partners Name in the Parish
Each partner names its own list; the documents below are ones a partner can name on a request from the parish. Gathering them before a partner asks shortens the review.
- Several recent months of business bank statements, complete.
- Business tax returns for recent years, and the owners' personal returns.
- Profit and loss and balance sheet for the year so far.
- Owner IDs and the business's formation documents.
- Whatever document prices the need: a quote, an invoice or a purchase agreement.
- Each loan, lease or advance already carried, with its payment.
Bank Statements for Business Loans: Deposit Patterns, Overdrafts and Other Funders
Bank statements show deposits month by month, the balance the business keeps, overdrafts or returned items, and existing payments to other funders. A partner reads the pattern more than any single month. Illustration only, invented figures: deposits averaging $61,000 a month with few overdrafts tell a steadier story than the same average built from two very large months and several thin ones.
Send complete statements in the bank's own format. Missing pages, edited files or screenshots slow a review, because partners check that the totals reconcile.
Documents Required for a Business Loan, by Funding Type
| Funding type | Records a partner can name |
|---|---|
| Equipment financing | Seller's quote, bank statements, recent tax return |
| Working capital | Bank statements, card processing statements |
| Line of credit | Tax returns, statements, receivables aging |
| Term loan or acquisition | Multi-year returns, statements and the purchase contract |
| Merchant cash advance | Card processing and bank statements |
What Do Banks Look at for a Business Loan, and Do Other Funders Differ?
Banks read the classic set: years in business, cash flow from tax returns, collateral, the owners' credit and the business plan for the money. Credit unions read much the same. Specialty funders lean harder on recent deposits and less on returns, and equipment funders lean on the machine. Each type answers a different question, which is why the same business can be declined by one and approved by another.
What Credit Score Do You Need for a Business Loan Secured by a Machine?
There is no single number. Each partner sets its own credit standards, and they vary by product: an equipment loan secured by a machine can accept a credit history that an unsecured loan cannot. Partners read the full report, including late payments, open balances and how recent any problems are. Owners can check their own reports before applying to correct errors.
How to Get a Business Loan in Houma, LA: One Request From Start to Finish
Illustration only, invented figures: a Houma, LA HVAC contractor calls about a $75,000 expansion: a second service van and payroll for a new technician. The conversation splits the request: the van fits equipment financing, the payroll fits working capital. A partner reviews both, asks for statements and the van quote, and offers terms.
If the whole $75,000 were one loan over 48 months at an invented 10.4% annual rate, our arithmetic gives a payment of about $1,917 a month. Splitting it lets the van carry its own security and the payroll piece stay short. The FAQ answers follow-up questions.
By Tealford Business Capital ยท Updated