Wrenpeak Lending Group, a small-business funding broker in Lake Charles, Louisiana, works in four steps: a call about the purpose, matching that purpose to a funding type, sending the request to suitable lending partners, and helping the owner compare whatever comes back. Partners make every credit decision and set every rate and term; the owner decides whether to accept.
What a loan broker actually does
A lender lends its own money, or money it manages, and makes the credit decision. A broker does neither. Wrenpeak Lending Group is a broker, not a lender: we help you define the request, explain the structures, and introduce the file to lending partners that offer the right kind of funding. Underwriting, the decision and the price all belong to the partner. Working through a broker can save you from applying blind to the wrong kind of funder; it never changes who makes the decision.
Step 1: The first conversation
You call (337) 265-9728 or send the short form with your name, email, phone, business name and three range picks, and we call you. The conversation covers what the money is for, how much the need is likely to cost, when it arises, and where repayment would come from. We also ask how long the business has operated and roughly what it deposits each month, because those answers decide which structures are realistic.
Step 2: Wrenpeak matches purpose to structure
A payroll gap points to working capital or a line of credit. A build-out points to a term loan. A machine points to equipment financing, stock to inventory financing. A merchant cash advance, which is not a loan, comes up only when the loan options do not fit. We explain why one structure suits better than another before anything goes out.
Step 3: The partner's review
With your agreement, we send the request to partners that offer the chosen structure. Expect the partner to ask for some of the following:
- Recent business bank statements, often three to six months.
- Business tax returns, plus owners' personal returns where a partner asks.
- Year-to-date financial statements.
- A copy of the entity's state record and the owners' identification.
- For equipment or a project, the quote, bid, lease or purchase order.
The partner may check business and personal credit, and it alone decides whether to fund, how much and on what terms. Our checklist on how to get a business loan in Louisiana covers preparing these records.
Can you get a business loan with an LLC?
Yes. Partners lend to LLCs, corporations and sole proprietors alike. With an LLC, expect them to confirm the entity is active on the state's records, that the name on the application matches the name on the bank account, and who the members are. Most will also ask each owner with a significant stake to sign a personal guarantee, so the LLC structure does not always keep the owner's credit out of the review.
Step 4: Putting offers side by side
Offers are not always quoted the same way, so convert everything to dollars and dates:
| Product | Priced as | Compare by |
|---|---|---|
| Term loan, working capital, line of credit | Interest rate, often with an APR and fees | Total repaid over the term, payment size and frequency |
| Equipment loan or lease | Rate, or a lease payment plus a buyout | Total of all payments plus any buyout |
| Merchant cash advance (not a loan) | Factor rate and holdback | Total collected, fees, estimated collection period |
Whatever the format, ask for the total cost in dollars, the payment schedule, every fee, and the collateral and personal-guarantee clauses. You can always decline. The answers page covers common follow-up questions.
Red flags to watch for while you shop
- Anyone who promises approval before a partner has reviewed the file.
- An offer with no written contract you can read in full.
- Pressure to sign the same day, or to skip reading the contract.
- An advance described as a loan, or a loan offer with no total cost stated.
- Requests to send bank logins or full account numbers by text or email.
Our disclosures describe the broker relationship in full.
By Wrenpeak Lending Group · Updated