Ironport Capital Group, a small-business funding service in Logan, Utah, takes a Cache County owner's request, matches it to a funding type, and sends it to funding partners that offer that type. Partners review it, make the credit decision and set any rate and term. You compare what comes back and decide whether to accept.
Steps to get a business loan through Ironport in Cache County, UT
- You describe the need. Phone us or use the Ironport request online. It asks for your name, phone, email, company name if there is one, and picks for time in business, annual revenue range and requested amount range, plus a consent box. The purpose of the money is the first thing we ask about on the call back.
- Ironport pairs the need with a funding type. We line the purpose up with a funding type, from working capital to equipment financing, and tell you which documents partners for that type usually ask for.
- A funding partner reads the file. With your consent, the request goes to one or more funding partners. Each runs its own review and makes its own credit decision.
- You decide. Whatever offer arrives is the partner's, not Ironport's. Compare it by total cost in dollars, payment rhythm and security, and accept only if it fits.
How to get a business loan is the same question anywhere; what this page adds is who does what. The six funding types are compared on their own page.
What Ironport does on a request, and what it leaves to partners
Owners often ask what a loan broker does. Ironport Capital Group is a broker, not a lender. A broker's job is to understand the request, match it to the right kind of funding and the partners that offer it, and help you read what comes back. Ironport does not lend its own money, approve or decline requests, or set rates, terms or collateral. Those decisions belong to the funding partner.
The relationship is set out in full on the disclosures page.
What are the requirements for getting a business loan as a Logan, UT company?
No single list applies to every partner, and no partner publishes approval thresholds. Partners commonly review:
- How many years the business has been running
- Revenue and bank deposits over recent months
- Current debts with each monthly payment
- Business and owner credit history
- The purpose, and for equipment or inventory, the asset itself
- Registration and any trade licensing the business needs
Many partners compute a debt service coverage ratio first. The article on calculating DSCR for a Logan, UT company works one through.
Does applying for a business loan in Utah affect your credit score?
Talking a request through with Ironport never triggers a credit pull. When a partner reviews a request, it may pull business credit, personal credit or both. Some pulls are soft and do not affect a personal score; others are hard inquiries that can. Ask each partner which kind it uses before you agree to it.
Do all business loans require a personal guarantee from Cache Valley, UT owners?
Not all, but many do, especially for smaller businesses. With a personal guarantee, the owner signs up to cover the debt if the business falls short. Read whether a guarantee is limited or unlimited, and whether it covers only this agreement or all debts to that partner.
Setting offers side by side: APR, factor rate, dollars
Loans quote an interest rate or APR; merchant cash advances, which are not loans, quote a factor. The two do not compare directly. Turn every offer into three numbers: total amount you will pay back, total cost in dollars, and what each payment does to a normal week of deposits.
Warning signs in an offer
- A push to sign before you have read it
- Fees asked for before an offer exists
- A total payback that is not written down
- Terms that change between the call and the contract