Cloverglen Finance, a small-business funding broker in Muncie, Indiana, explains how a request moves: a first call about the purpose, matching the need to a funding structure, a lending partner's review and decision, then comparing any offer by total cost. Sole proprietors can apply too. Partners make credit decisions and set rates and terms.
Broker and lender: two different jobs
A lender decides whether to provide money and on what terms, and its money is at risk. A broker does neither. Cloverglen Finance is a broker, not a lender: we help you choose a structure, prepare the request and introduce it to lending partners that offer that structure.
Step 1: the first conversation
You call (765) 224-5062 or send the short form with your name, email, phone, business name and three range picks, and we call you back. On that call we ask what the money will pay for, roughly how much is involved, how the business earns its revenue and how it expects to repay. You will not need to send anything yet.
Step 2: the purpose picks the structure
The purpose usually decides the structure. A gap in cash flow points to working capital or a line of credit; a project points to a term loan; stock points to inventory financing; a machine points to equipment financing. A merchant cash advance is not a loan and comes up only when the business and the timing make it relevant. If none of them fits, we say so.
Step 3: the partner's review
The partner decides what it needs to see. Commonly requested items include:
- Statements for the business account, latest months first
- Business and personal tax returns for larger or longer requests
- Financial statements and a list of existing debts
- Formation and ownership documents, and proof the entity is active with the state
- Tax registrations relevant to the business, such as a retail merchant certificate for a store
Retailers often ask why a sales tax registration matters; our Indiana retail merchant certificate guide explains. The partner reviews, decides and, if it approves, sets the terms.
Can you get a business loan as a sole proprietor?
Yes, sole proprietors can apply for business funding, and many small businesses in Delaware County are run that way. In 2024 the county had 6,508 businesses with no paid employees (U.S. Census Bureau, Nonemployer Statistics 2024). A sole proprietor's business and personal finances are legally the same, so partners look closely at personal credit and personal tax returns, and keeping separate business bank accounts makes the file far easier to read. Whether a partner funds a particular sole proprietorship is its decision.
Step 4: lining up any offers
Offers are not always quoted the same way, so convert them to the same terms before comparing:
| Quoted as | What it tells you | What to ask for |
|---|---|---|
| Annual percentage rate | Yearly cost, including some fees, for a loan | Total of all payments and fees in dollars |
| Interest rate | The rate on the balance, not necessarily all costs | Every fee and the payment schedule |
| Factor rate | The multiplier on an advance; not an annual rate | Total remitted in dollars and the expected collection period |
The simplest comparison is the total you will pay back, the amount you will actually receive and how long you have to pay. Signing is always optional; declining an offer costs you nothing.
Red flags during any funding search
- Anyone promising approval before a partner has reviewed the business
- A fee demanded from you before a single offer exists
- A push to sign before you have read the contract
- A contract that does not show the total cost in dollars
- Paperwork that blurs an advance and a loan
Questions about our role are answered on the disclosures page and in the FAQ. For free, independent advice, see East Central Indiana small business help. Medical owners comparing a line and a short-term loan may find the practice cash flow post useful.
By Cloverglen Finance ยท Updated