Glenpoint Finance, a small-business funding service in Dubuque, Iowa, answers funding questions: whether a merchant cash advance is a loan, how a credit line affects your score, equipment financing and taxes, business bank accounts, and what happens after a request. Glenpoint matches each request with funding partners, who review it and make their own decision.
About the structures
Is a merchant cash advance a loan under the agreement?
No. It is a purchase of part of your future receipts at a discount, collected through a share of daily or weekly sales. The merchant cash advance page shows the factor-rate arithmetic.
Is equipment financing a loan?
An equipment loan is a loan secured by the machine. An equipment lease is a rental with an option to buy. Both are on the equipment financing page.
What is the difference between working capital and a line of credit?
Working capital arrives as one sum with fixed payments. A line of credit is a limit you draw on and repay as needed.
Credit, taxes and bank accounts
Does a business line of credit affect your credit score?
Applying may involve a credit check, and some partners report the line to business credit bureaus. If you sign a personal guarantee, missed payments can reach your personal credit. The line of credit page has more.
Are equipment loans tax deductible?
Interest and depreciation may be deductible for a business, but the rules depend on your situation. Ask your accountant; Glenpoint does not give tax advice.
Can you get a business loan without a business bank account?
Partners read business bank statements to judge deposits, and some debit payments from a business account. Without one, a request has fewer records to review; opening one and running revenue through it gives a partner more to read.
About the request
What does the request form ask?
Your full name, phone, email, company name if you have one, and three range picks: time in business, annual revenue and the amount you have in mind.
How long does a partner take?
It depends on the partner, the structure and how quickly records arrive. The request steps explain the stages.
Does Glenpoint work with businesses outside the City of Dubuque, IA?
Yes. Requests come by phone and form from across Dubuque County and nearby Iowa towns.
By Glenpoint Finance · Updated
