Rowanrun Business Loans in Loveland, Colorado is a funding broker, not a lender, even though its name includes the word Loans. It places business funding requests with funding partners, which review them and make their own decisions on approval and terms. A merchant cash advance is not a loan.
Rowanrun Business Loans Is a Funding Broker, Not a Lender
Whatever its name suggests, Rowanrun Business Loans does not lend, lease or advance its own money, and it does not make credit decisions. It takes a business's request by phone or online form, talks through which funding types fit, and places the request with funding partners.
Partners Alone Decide on Approval and Terms
The reviewing partner decides whether to make an offer and sets the amount, price, term and conditions. A partner may decline, or offer something other than what was requested. Rowanrun cannot alter a partner's decision, and no request is assured of an offer.
A Merchant Cash Advance Buys Future Receipts and Is Not a Loan
With a merchant cash advance, a provider buys part of the card receipts a business will take in later. Amounts are collected as receipts come in, and the cost is set by a factor rather than an interest rate. Compare the total to be collected with what a loan would cost in total before agreeing.
Checks Before Signing Any Offer
- Read the entire agreement and keep a signed copy.
- Add every fee to the payments to find the total paid or collected.
- Identify the collateral, any personal guarantee and any charge for paying early.
- Put questions to the partner before signing, not after.
By Rowanrun Business Loans · Updated