Phone and address for Cedarstone Business Funding in White Plains, NY, the questions a restaurant can put to a lender before applying and once an offer arrives, loan questions for law firms, and what a first call covers.
Lender questions for White Plains, NY full-service restaurants before applying
Before a full-service restaurant applies, the useful questions are about fit: whether the funding type matches the purchase, and what the lender or funding partner will want to see. A White Plains, NY restaurant can raise these on a call to (914) 554-1390 before anything is sent:
- Which of the six funding types matches the need: a term loan for one fixed purchase, equipment financing for a range or a dish machine, or a credit line for uneven weeks?
- Will the partner look at card-processing statements as well as bank statements?
- How many months of statements will the review cover, and does a newer second location change that?
- Can the equipment being bought act as collateral, or will a personal guarantee be asked for as well?
- Is a merchant cash advance worth looking at for a restaurant with steady card sales, and how is it collected?
When Westchester County, NY full-service restaurants are getting a business loan: what to ask
Once a funding partner sends an offer, the questions shift from fit to cost. Each answer belongs in writing before the restaurant signs:
- What is the total paid over the full term, beyond the size of each installment?
- Is the payment due monthly, weekly or daily, and which account is it drawn from?
- Which charges are part of the offer, and are any taken out of the amount funded?
- Can the balance be paid off early, and how does that change the total cost?
- Does the offer place a lien on the kitchen equipment only, or on the business as a whole?
Two offers compare fairly only on the same basis. A smaller installment spread over more months can still cost more in total, which is why the total paid heads the list.
Business loan questions to raise for Westchester County, NY law firms
A law firm’s income can arrive in uneven pieces, retainers one month and a large client payment the next, so its questions for a lender center on timing and on who signs:
- Will the review rest on the operating account alone, with client trust funds kept out of it?
- Does every partner of the firm sign a personal guarantee, or only the larger owners?
- When a credit line comes up for renewal, what happens to any amount already drawn?
- Can a term loan be paid down early when a large client payment comes in?
- Does the lender treat a PLLC, an LLP and a professional corporation the same way?
None of these has one answer; each funding partner sets its own terms. Asked early, they keep a firm from comparing offers built on different assumptions.
Calling before you apply: what to ask as a White Plains, NY law firm
The first call to Cedarstone is where a firm can check the basics: which funding type matches the need, what the request form records, and what happens after it is sent. The form holds contact details, Company Name, Time in Business, Annual Revenue and Requested Amount and nothing about the purpose, so the purpose gets explained on the call.
Phone: (914) 554-1390. Address: Cedarstone Business Funding, 4 Quarropas St, White Plains, NY 10601. A meeting at the address can be set up by phone first.
When the figures are ready, the request form takes the rest.
By Cedarstone Business Funding · Updated