Larkridge Funding Group, a small-business funding broker in Decatur, Illinois, moves each Macon County request through four points: a phone conversation, a choice of structure, a partner's underwriting and the owner's own decision. Larkridge explains the options and lays offers side by side; the partner alone approves, prices and sets terms.
Lender and broker: two separate roles
The lender puts up the money, takes the loss if it is not repaid, and so makes the decision and names the price. Larkridge Funding Group is a broker, not a lender; our money is never in the deal. What we contribute is the groundwork: the right structure, a request a partner can read quickly, and an introduction to partners that offer that structure.
Step 1: the first call
It begins when you phone (217) 296-7415, or when the short form (contact details, business name and three range picks) reaches us and we ring you. During that conversation we cover the purpose, an approximate amount, where the revenue comes from and what will cover the payments. No documents are needed yet.
Step 2: the purpose points to a structure
Think of it as sorting the bill. Payroll due before a customer pays sorts into working capital, or into a line of credit if it happens every few weeks. A remodel or a second site sorts into a term loan. Shelves of stock sort into inventory financing; a fryer, an X-ray unit or a skid steer into equipment financing. A merchant cash advance is not a loan, and we explain its full cost before it goes anywhere.
If no structure fits, we say so. Sometimes the better step is free advice first; small business help in Decatur and Macon County lists where to find it.
Step 3: the partner's review
Each partner sets its own document list. Typical items:
- Recent business bank statements
- Tax returns, business and personal, when the request is larger or longer
- Profit and loss, balance sheet and a schedule of current debts
- Formation, ownership and registration documents
- Quotes, invoices or a lease showing the purchase
Stores and restaurants are often asked about their state tax registration; the Illinois REG-1 and MyTax guide explains why. From there the file is the partner's: it underwrites, decides, and names the terms of anything it approves.
Getting a business loan as a sole proprietor
Yes, a sole proprietor can ask for business funding, and in Macon County, Illinois that describes a large share of owners. In 2024 the county had 5,839 businesses with no paid employees (U.S. Census Bureau, Nonemployer Statistics 2024). Partners reviewing a sole proprietorship usually look closely at the owner's personal credit and tax returns, because the business and the owner are legally the same. A separate business bank account makes the review easier. If you are just starting out, starting a small business in Decatur, Illinois covers the early steps.
Step 4: comparing any offers
Two offers for the same purpose can arrive in different units. Translate them before you compare:
| Quoted as | What it tells you | What to ask for |
|---|---|---|
| APR | A yearly cost that includes interest and some fees | The total of all payments and any fees left out |
| Interest rate | The cost of borrowing before fees | Fees, payment frequency and the total repaid |
| Factor rate | A multiplier on an advance (not a loan) | The total collected and the expected collection period |
Three numbers settle most comparisons: cash in hand after fees, everything paid back, and the months it takes. You are never obliged to sign, and walking away from an offer costs you nothing.
Red flags to watch for, whoever you deal with
- A promise of approval before any partner has seen the business
- Pressure to pay something before an offer even exists
- Being hurried toward a signature with pages still unread
- An agreement that does not show the total you will pay back
- Calls that describe a merchant cash advance as a loan
Our role is set out on the disclosures page, and short answers are in the FAQ.
By Larkridge Funding Group · Updated