The form starts a request; it is not the whole application. Below: how a request here differs from a bank or credit union application, and the records a landscaper or a physician practice can have ready.
Bank Business Loan Application or a Funding Request? A Schenectady, NY Restaurant Needing Ice Machines
A bank business loan application goes to one bank, on that bank’s own forms and document list, and the answer comes from that bank alone. A request sent here is not an application to a single lender: Ivypark Lenders passes it to funding partners, and each partner that reviews it asks for its own documents and decides on its own.
Illustration only, invented figures: a restaurant’s quote for two ice machines with installation comes to $14,600. On the form, the owner picks the amount range that takes in $14,600 and names the restaurant; the quote and the bank statements come later, if a partner reviewing the request asks for them.
Ice machines are equipment, so the request lines up with equipment financing, where the machines themselves can secure the financing.
Dining rooms are a sizable trade locally: the 2023 County Business Patterns puts full-service restaurants (NAICS 722511) at 109 employer establishments across Schenectady County, NY.
Credit Union Business Loan Application Compared: Exam-Room Equipment and Claim Delays
A credit union lends to its members, so a credit union business loan application starts with membership and stays with that one credit union. A physician practice weighing that route has two needs that behave differently: exam-room equipment that lasts for years, and the cash gap while insurance claims are paid some time after the visit.
Both needs can sit in one request here:
- Exam-room equipment (exam tables, diagnostic carts, an EKG unit) fits equipment loans, with the vendor quote supplied when a partner asks.
- Claim delays fit working capital: the gap between billed visits and the payer payments that follow.
- Time in business and annual revenue go on the form as ranges, the same for either need.
Offices of Physicians (NAICS 6211) counted 62 employer establishments in Schenectady County, NY in 2023 (CBP), 23 of them practices with fewer than five employees.
Neither route rules out the other. A practice can bank with a credit union and still ask a funding partner here for an offer to compare.
Before You Press Send: Statements a Schenectady, NY Landscaper Can Keep Ready
The form takes no files. Statements come into play only once a funding partner is reviewing the request and names the ones it wants. A landscaping company that has these ready saves a round of back-and-forth:
- Business bank statements covering the last several months of crew payroll and supplier payments
- The dealer quote for the mower, skid steer or dump trailer the request is for
- Signed maintenance contracts, or the purchase order for a large job if the money carries payroll until it pays
- A supplier statement for sod, stone or mulch bought on account
- The latest year-end profit and loss statement, if the business keeps one
Plenty of landscapers work without staff: 2024 Nonemployer Statistics counted 153 landscaping services businesses (NAICS 56173) in Schenectady County, NY that had no paid employees. For an owner working alone, a personal account that also carries business deposits can be part of what a partner wants to see.
Records a Schenectady, NY Physician Practice Can Gather Before a Partner Calls
A practice’s paperwork looks different from a crew’s. Before a partner gets in touch with its document list, a physician practice can gather:
- Business bank statements that show insurance payments arriving
- A claims aging report by payer, printed from the practice’s billing software
- The vendor quote for the exam-room equipment
- The lease for the practice space, if the equipment goes into a new room or a second location
- Year-end financial statements, or tax returns if the partner asks for them
None of these goes into the form. The funding process page shows where they come in, and the funding FAQ covers loan amounts and loans without collateral.
By Ivypark Lenders · Updated