Request preparation worked through a candy shop's tempering machine with invented figures, a records grid for a consignment store, a heavy equipment payment calculator, and links to the City of Mandan and Morton County, ND websites. Funding partners make every credit decision.
How to Prepare for a Small Business Loan: A Mandan, ND Candy Shop Pricing a Chocolate Tempering Machine
Getting ready for a small business loan means pinning down the cost before choosing who to ask. A candy shop in Mandan, ND that wants a chocolate tempering machine can settle most of what a funding partner may ask before the first call.
- Get a written quote for the machine, with make, model, price, delivery and any sales tax
- Decide how much the shop will put in from its own cash, if anything
- Pick a monthly payment the shop can carry in a thin month, not an average one
- Print several months of recent business bank statements, plus the most recently filed tax return
- List every loan, lease or advance already being paid, with the monthly amounts
- Write two sentences on how the machine pays for itself, such as more batches a day
Illustration only, invented figures: the tempering machine costs $7,915, financed over 24 months at an 11.29% annual rate. Each invented month costs $369.97; the 24 payments reach $8,879.28, and interest is $964.28 of that. If the shop's thinnest month cannot carry $369.97, the invented quote is the number to revisit before calling.
Business Loan Documents Checklist, Set Out as a Grid for a Morton County, ND Consignment Store
A consignment store adding a commercial steamer and a tag gun for intake brings much the same papers as any other business. The grid below lists the usual records, the question each one answers, and where an owner finds it.
| Record | Question it answers | Where to find it |
|---|---|---|
| Business bank statements, last few months | How money comes in and goes out, and what payments already leave the account | The bank's online portal |
| Most recent business tax return | A full year of sales and profit | The return as filed, or the preparer |
| Year-to-date profit and loss | Whether this year is running ahead of or behind the filed return | The bookkeeping software or the bookkeeper |
| Quote or invoice for the cost | The exact item, its price and the seller | The seller or supplier |
| List of loans, leases and advances | Who else is paid each month, and how much | The statements from each funding source |
| Sales records by week | Whether receipts are steady or uneven | The point-of-sale or card processor reports |
A partner may ask for fewer of these on a small request and more on a large one. The request form itself takes contact details and ranges only; the records come later, if a partner asks.
The Heavy Equipment Payment Calculator and the Numbers It Needs
The heavy equipment payment calculator takes a price, a down payment, an annual rate and a term in months, and shows a monthly payment for the numbers typed in. Any rate entered is the owner's own guess; a funding partner sets the real one.
It is built for machines, but the arithmetic is the same for a tempering machine or a steamer. Try two terms on the same price to see how a longer term lowers the payment and raises the interest paid.
Mandan, ND City Hall and Morton County, ND Websites, Linked but Not Summarized
Zoning, permits, local licenses and county records are handled by the governments themselves. The City of Mandan website and the Morton County, ND website are the places to start; Thistlepine Capital does not summarize their requirements on this site.
If a funding request depends on a space or a permit, settle that question with the city or county office before the request goes to a partner.
By Thistlepine Capital ยท Updated