Glenford Financial, a small-business funding broker in San Angelo, TX, answers common questions here: what a broker does, which funding type fits which need, what applying involves, which Texas records partners check, and what Glenford does not offer, such as personal, payday or auto title loans. Credit decisions, rates and terms belong to lending partners.
About Glenford Financial
Is Glenford Financial a lender or a bank?
Neither. Glenford Financial is a broker, not a lender.
Where is the office?
15 W Beauregard Ave, San Angelo, TX 76903, in Tom Green County. Phone (325) 241-0824. San Angelo, TX is often confused with San Antonio in searches; we are in San Angelo, TX.
What does Glenford Financial not do?
We do not lend, we do not make credit decisions, and we do not arrange personal, payday or auto title loans. Business funding is the only thing we work on.
Picking a funding type
Which type of funding should I look at first?
Start with what the money does. Timing gaps point to working capital, one-time projects to a term loan, recurring costs to a line of credit. The comparison page lines all six up.
Is an MCA a type of loan?
No. A funder buys part of your future receipts for a lump sum and collects it from sales or by debits. The merchant cash advance page explains the terms to check.
Can business loan money go toward paying myself?
Business funding is meant for business purposes, and agreements usually say what the money may be used for. Paying owners in place of a normal salary or draw is often outside those purposes, so ask the partner and read the use-of-funds clause before relying on it.
Is a personal loan a good way to fund the business?
It is possible, but it ties business risk to your personal credit and may limit how much you can raise. Business funding keeps the obligation with the business, although partners often still ask owners for a personal guarantee.
Applying and documents
What will a lending partner ask for?
Usually recent business bank statements, and depending on the request, tax returns, financial statements, a debt schedule, an equipment quote or a receivables list. How it works describes each step.
Can an LLC borrow in its own name?
Yes, an LLC can borrow in its own name. Partners look at how long it has operated and its revenue, and newer LLCs are often asked for a personal guarantee from the owners.
Does sending a request mean I have to accept an offer?
No. Accepting any offer is your choice, and you can decline at any point.
Texas records and local help
Which Texas records might a partner check?
Commonly your entity record with the Texas Secretary of State, your tax standing with the Texas Comptroller and any UCC filings against the business. The franchise tax and sales tax permit guide and the UCC search guide explain how to look.
Where can I get business advising in San Angelo, TX?
The Angelo State University Small Business Development Center, 69 N. Chadbourne St., San Angelo, TX 76903, offers SBA-funded advising. More options are in the guides and resources section. None of them is affiliated with Glenford Financial.
By Glenford Financial · Updated