This page explains how a funding request sent to Laurelwick Lenders in Lake Havasu City, Arizona moves forward: the first call, what partners read in bank statements, what decides how long a review takes, how an LLC borrows, and what lenders weigh in an application. Funding partners make every credit decision; the owner chooses whether to sign.
What Do Lenders Look for in Bank Statements? A Checklist for Desert Builders and Repair Shops
Lenders read business bank statements for patterns, not single balances. A checklist of what they look at, in the order many reviewers take it:
- Average monthly deposits, and how far the low months fall below the average.
- The number of days the balance dropped near zero or went negative, and any overdraft fees.
- Recurring debits for loans and leases already on the books.
- Daily or weekly collections taken by any cash advance provider.
- Large one-time deposits, and whether they are revenue or transfers from the owner.
- Whether the deposits match the revenue reported on the tax return.
Illustration only, invented figures: a desert builder's six months of deposits of $52,000, $47,000, $61,000, $39,000, $58,000, $44,000 average $50,167, with a low month of $39,000 (our arithmetic). In this invented case a reviewer sets a proposed payment against the $39,000 month, not the average.
How Long Does It Take to Get a Business Loan Approved? What Mohave County, AZ Numbers Suggest
No honest answer gives a set number of days. A review moves as fast as the file is complete and as the partner's own process allows, and both vary by product and by lender. Mohave County, AZ figures do not change that: what speeds a request is the owner's preparation, and what slows it is a missing return or an unexplained deposit.
- Have the quote or bill, the last several months of statements and the latest return ready before the call.
- Answer the partner's follow-up questions in full the first time.
- Flag any open loan, lease or advance up front, since it will show in the statements.
- Expect equipment and working capital requests to need fewer documents than a business purchase.
How Does a Business Loan Work for an LLC? Answers for Auto Shops, Diners and Contractors
An LLC borrows in its own name, with its EIN, its formation papers and its own bank account. For a small LLC the lender also reads the members: their credit, and in many cases a personal guarantee from each member with a significant share. Auto shops, diners and contractors set up as LLCs should have these ready:
- Articles of organization filed with the Arizona Corporation Commission, and the operating agreement.
- The IRS letter confirming the EIN.
- A list of members and their ownership shares.
- Business bank statements in the LLC's name, kept apart from personal accounts.
- The LLC's latest tax return, or the members' returns if it files as a disregarded entity.
The Arizona Corporation Commission's business filings are online at the Arizona Business Center.
What Do Lenders Look for in Your Bank Statements? What Contractors and Building-Supply Yards Should Know
The owner's own review of the statements comes first. Contractors and building-supply yards should read their last few months the way a partner will, and fix what they can before applying: move personal spending to a personal account, label owner transfers, and note any large deposit that came from a one-time job or an asset sale.
A reviewer also notices the account's age and whether all revenue runs through it. A business that deposits some payments in a second account should include that account's statements too, or its revenue will look smaller than it is.
What Do Lenders Look for When Applying for a Loan? How It Works for Mohave County, AZ Owners
Lenders weigh a set of factors that vary by product but repeat across most applications:
- Cash flow: whether deposits and profit cover the new payment with room left over.
- Credit: how the business and its owners have handled debt.
- Time in business and the trade's track record, shown in returns.
- Collateral: the machine, receivables or stock pledged, for secured products.
- Purpose: what the money buys and how it brings itself back.
Then the decision sits with the partner: approve, decline or offer different terms. The offer arrives as a written agreement with the amount, cost, schedule and conditions, and the owner decides whether to sign.
The six funding types compared shows which records each type leans on, the FAQ covers EINs, collateral and maturity dates, and the online form starts a request.
By Laurelwick Lenders · Updated