Business Loan Application for Ardmore, OK Gas Stations and Auto Repair Shops

1. Decide what the money buys, such as treatment tables, a traction unit, movable office furnishings or a payroll gap, and put one number on it; fixed room work is excluded.
2. Have the practice's legal name, how long it has been open and its annual revenue range ready for the form.
3. Pull recent business bank statements, since a partner can ask for them early in its review.
4. Ask the equipment vendor for a written quote with model numbers, so a partner can price the exact machine.
5. List current debt payments, including any lease on existing equipment, and keep the latest tax return within reach.

The requested amount and the practice details in the second item go on the form. Everything else waits until a partner asks for it, because the form takes no uploads.

To start, very little: the contact details of the person who will talk with a partner, the practice name, how long it has been open, an annual revenue range and the amount in mind, plus a consent choice. That is the whole form.

To finish, more. A partner reviewing a therapy or chiropractic practice can ask for business bank statements, tax returns, a list of current debts, the equipment quote and proof that the practice is licensed to operate. It can also ask how insurance payments and cash-pay visits split, since that shapes when money arrives. Each partner keeps its own list, and the owner can ask for it in writing before gathering anything.

For an oilfield service company the steps match any other trade, with one question added at the start: whether a partner looks at oilfield service work at all. Each partner decides that for itself.

• Settle the purpose first, such as a second truck, payroll while operator invoices are open, or a parts account; it is named on a call, not on the form.
• Fill in the form on this page with the amount, or call (580) 205-7687 and give the purpose too.
• Windpoint passes the request to funding partners; a partner that looks at oilfield service work, if any does, contacts the company.
• That partner asks for its records, which can include operator invoices, an aging list of receivables and the equipment quote.
• The partner can review them and check credit, then makes an offer or declines.
• The owner compares the offer with any other in hand and signs only if the payment fits the billing cycle.

The how it works page follows the same path for every funding type, underwriting included.

A bank and a funding partner weigh much the same things for a gas station, each in its own proportions:

• The company’s operating history, including how long the current owner has run the station.
• Deposits: what the bank statements show coming in from fuel and store sales, month by month.
• Existing debt, including any loan on the station property and any lease on the coolers.
• Credit history of the business and of the owners who sign.
• What secures the loan: the equipment being bought, other business assets, or a personal guarantee.
• The purpose, and whether the thing paid for will still be in use when the last payment is made.

An auto repair shop applying for a lift or a scan tool meets the same list, with the vendor quote taking the cooler's place. Whether sending a request touches the owner's credit is covered in the business loan FAQ.