Apply for a Business Credit Line in Burlington, VT: The Form and What Comes Next

A restaurant planning a new dish machine and a second location is asking for two different things. The machine is equipment with a price on a quote; the second location is a lease, movable equipment and opening costs. Keeping them apart on the checklist lets each go to the product that fits it:

• Dish machine: the vendor quote with model, price and installation
• Second location: the signed or draft lease and its monthly rent
• Movable kitchen and dining furnishings: the supplier quote with models, prices and setup
• Opening costs: first food and drink orders, smallwares and wages for staff hired before the doors open
• Business bank statements from the first restaurant's operating account
• A year-to-date profit and loss for the first restaurant
• Leases or advances already being paid by the first restaurant

None of these goes on the form. A funding partner asks for what it wants while it reviews the request.

A credit union lends to its members, so a dental office applying there joins first or already banks there, and the application follows that credit union's own process. The request form on this page is different: it is not an application to any one institution. Wrenbridge Capital passes it to independent funding partners, and each partner applies its own standards. After the form is sent:

1. The dental office sends the form or calls; the purchase, such as an operatory chair or an imaging unit, is described on the call.
2. The office discusses the purchase before forwarding the file for independent review.
3. The partner reviews the request and may ask for bank statements, the equipment quote or other records.
4. Any offer comes from the partner in writing, with its amount, rate and terms.
5. The dental office reads the offer, asks questions, and accepts or declines it.

Pedicure chairs and retail product are paid for in different ways. A chair is equipment that stays in the salon for years, while shampoo, polish and styling product sell through and get reordered. A documents list for each:

• Chairs: the vendor quote for self-contained units, including delivery and setup; fixed plumbing is excluded
• Chairs: how many stations the salon has now and how many after the purchase
• Retail product: recent supplier invoices and how often each reorder repeats
• Retail product: sales records that separate product from services, if the point-of-sale system splits them
• Both: business bank statements showing supplier payments and card deposits
• Both: any lease or advance payments already running

The chairs fit equipment financing; repeat product orders fit inventory financing or a line of credit.

Some paperwork belongs to the business rather than to one purchase, and a salon owner can gather it before sending the request:

• Bank statements from the salon's operating account, newest month first
• The salon lease, with its monthly rent and end date
• Business formation papers and the EIN letter
• A photo ID for each owner
• A list of booth rental agreements, if the salon rents chairs to stylists
• The most recent business tax return

What a funding partner can read in those bank statements: how much comes in each month and how steady it is, the low points in the balance, any overdrafts or returned payments, and payments already going to other funders. Statements alone do not decide a request, though a tidy set can settle some questions before a partner has to ask them.