Bayside Advances walks owners in Moscow, ID through four steps to business funding: a call or online request, matching the expense to an option, a funding partner's review and underwriting, and your decision. This page lists the documents partners may ask for, what they look at, how long each stage can take and which questions to ask before you sign.
Who Does What
Bayside Advances is a broker, not a lender. We match your request with funding partners who review it and make their own decision; we do not lend money, approve requests or set prices. Our work is the part before the review: understanding what the money is for, matching it to the right kind of funding, and sending the request only to partners that offer that kind.
The partner's work is the review itself: underwriting the business, deciding yes or no, and setting the amount, rate, term and collateral of any offer. Your work is the final choice.
Bayside Advances connects you with lending partners; partners make credit decisions and set rates and terms.
Step 1: Call or Send the Online Request
Call (208) 439-7566 or use the online request. The online request asks for your full name, phone, email and company name (optional), then three picks: time in business, annual revenue range and the amount you are requesting. The final item is a consent checkbox. On the call we ask what the money will pay for, when it is needed, and how your sales come in: by card each day, by invoice each month, or in larger contract payments.
No documents are needed for this step.
Step 2: Match the Expense to an Option
The purpose points to the product. Payroll gaps point to working capital; expansion and build-outs to term loans; uneven months to a line of credit; stock purchases to inventory financing; machines to equipment financing. We explain how each would be repaid so you can rule options out before anyone reviews your file.
Step 3: Underwriting, Done by the Partner
So what do lenders weigh when a business loan application arrives? The business loan underwriting process varies by partner and product, but most reviews cover the same ground:
- The latest business bank statements, for example a quarter to half a year of them
- Years operating and yearly revenue
- Loans, leases and advances already in place, and their payments
- The owner's credit history, in many cases
- For larger or longer requests: tax returns, financial statements, and a debt schedule
- For equipment or stock: the vendor quote, invoice or purchase order
And the requirements for getting a business loan? There is no universal list; each partner sets its own. The business loan documents checklist above is what a partner may ask for, so having it ready gives the review a starting point.
Step 4: Weigh the Offer, Then Say Yes or No
If a partner makes an offer, it arrives in writing with the partner's own terms. Compare offers in total dollars: the full amount you will repay or remit, the payment schedule, fees, collateral, personal guarantees and any prepayment terms. Loans can be quoted with an annual rate; merchant cash advances with a factor rate. The two are not directly comparable, so convert both to total cost over the same period.
Saying no remains your right at this stage. A request is not an obligation.
How Long Before Business Loan Money Arrives?
Product type, partner and the completeness of your paperwork all affect the timing. We do not promise timelines, because the partner controls the review. Answering document requests promptly is the part you control.
Questions Worth Asking Any Partner Before You Sign for a Loan
- What is the total I will repay, including all fees?
- How often are payments taken, and how are they collected?
- Is there a prepayment charge, or a discount for paying early?
- What collateral or personal guarantee is required?
- Will a lien be filed, and on which assets?
- If a payment is late or missed, what then?
Warning Signs That Should End the Conversation
- Anyone promising approval before reviewing the business
- Pressure to sign before you have read every page
- Requests to pay a charge before an offer exists
- Terms that differ from what was explained on the phone
By Bayside Advances · Updated
