Larkridge Funding Group, a small-business funding broker in Decatur, Illinois, answers common questions from Macon County owners: its role as a broker, choosing between funding options, whether a business loan can pay the owner, whether an LLC can borrow, what the form asks and where to find local help. Lending partners make credit decisions and set rates and terms.
About Larkridge Funding Group
Does Larkridge Funding Group lend money?
No. Larkridge Funding Group is a broker, not a lender.
Where is the business located?
134 N Merchant St, Decatur, IL 62523, in Macon County, Illinois. Phone (217) 296-7415.
Choosing funding
How do I tell which option fits?
Start with what the money buys and how it comes back. How a request works explains the match.
Is an advance on card sales a loan by another name?
No. A merchant cash advance is not a loan; it is a purchase of future receipts. For holdbacks, factor rates and stacking, read the merchant cash advance page.
Is drawing my own pay from borrowed business money allowed?
Funding raised by a business is supposed to serve the business. An owner's draw or salary paid from business revenue is normal, but borrowing specifically to pay yourself can raise questions with a partner, and the agreement may limit how the money is used. Ask before you sign, and talk to your accountant about how owner pay is recorded.
Is a personal loan a sensible stand-in for business funding?
Some owners do, especially very early on, but a personal loan puts the debt in your name alone and does nothing to build the business's own credit record. Larkridge stays out of personal lending altogether.
Applying
Which details go on the request form?
Full name, email, phone and business name (that one is optional), drop-downs for time in business, annual revenue and the requested amount, plus a consent checkbox. The question of purpose waits until we phone you.
Can an LLC get a business loan in its own name?
Yes. An LLC can borrow in its own name, though partners commonly ask the owners to sign a personal guarantee, especially for a young company.
Will contacting you affect my credit?
Talking with Larkridge does not involve a credit check by us. A partner reviewing a request may check credit; ask the partner what kind of check it runs.
Local questions in Macon County, Illinois
Why would a partner ask for my Illinois tax registration?
It shows the business is registered to collect and report tax where that applies. The guides page includes an Illinois guide on it.
Where can a Decatur, IL owner find free business advice?
Advising, chamber and economic development contacts are collected in the local resource guide on the guides page. For longer reads, see the blog.
By Larkridge Funding Group · Updated