Resources

Six things worth reading before you apply.

Each of these exists because we were explaining the same thing on the phone every week. They are short, specific, and written for a business in this trade rather than for small business generally.

Checklist

Funding document checklist

Exactly what to gather before you apply, broken out by product, so you are not assembling paperwork while a cooler warms.

See the full document list

Short-term and equipment: statements, application, licence, voided cheque
Line of credit and term: add tax return, profit and loss, debt schedule
SBA and real estate: three years business and personal returns, current financials, personal financial statement
Buildout: reviewed drawings, line-item bids, HACCP timeline, grant correspondence

Worksheet

Cold storage project scope worksheet

The nine line items a refrigeration quote usually leaves out, and the ones that turn a $90,000 quote into a $180,000 project.

Read the cost breakdown

Panel, floor and door specification
Condensing units, evaporators and controls
Electrical service capacity — the most common cost surprise
Drainage, condensate and slope correction
Demolition, refrigerant recovery and rigging access
Permits, utility rebates and contingency at 12 percent

Reference

Factor rate to APR reference

A quick reference for converting a quoted factor rate into a true annualised cost, so you can compare an advance against a loan honestly.

Read the full comparison

Factor 1.15 over 6 months is roughly 55% APR
Factor 1.22 over 6 months is roughly 80% APR
Factor 1.30 over 7 months is roughly 90% APR
Factor 1.40 over 12 months is roughly 70% APR
The shorter the term, the higher the annualised cost of the same factor

Guide

USDA buildout financing sequence

The order to do things in when converting a facility to federal inspection, and why plan review has to come before the loan amount.

Read the buildout guide

Talk to your FSIS district office before drawings are finished
Plan review first, bids second, financing third
Line-item bids — a lump sum cannot be draw-scheduled
Contingency at 12 to 15 percent on any conversion
Plan the SBA takeout at the same time as the construction facility

Guide

Bank statement preparation guide

What an underwriter reads in your statements, in the order they read it, and the five things you can fix before you apply.

Read the underwriting guide

Average daily balance, and why month-end snapshots are ignored
Negative days — the thresholds that change your pricing
Deposit consistency against your stated business model
Labelling inter-account transfers so they are not stripped as non-revenue
Disclosing existing advances, which are visible anyway

Reference

Equipment purchase timing reference

Why equipment purchases cluster in the fourth quarter, and the placed-in-service rule that decides whether a December purchase counts.

Read the tax guide

Financed equipment qualifies — you do not need to pay cash
Placed in service, not purchased, is the test
Section 179 cannot create a loss; bonus depreciation can
State conformity frequently differs from federal
Recapture risk if you sell early or business use drops below 50 percent

Sec. 02 — Want it applied to your file

These are general. Your situation is not.

Send us the contractor quote, the statements or the drawings and we will tell you what is missing from them. That review costs nothing and does not involve a credit pull.

Apply now Send us a question