This FAQ from Lodgeleaf Business Loans in Lexington, KY answers short questions about paying a loan off early, down payments, lines of credit, merchant cash advances, the request form and who decides. Longer explanations sit on the product pages and on how it works; funding partners set every rate and term.
About Lodgeleaf Business Loans
What does Lodgeleaf actually do for a business?
Lodgeleaf Business Loans is a broker, not a lender. It helps Lexington, KY businesses request working capital, term loans, lines of credit, inventory financing, equipment financing and merchant cash advances, and passes those requests to funding partners that make their own decisions.
Where does Lodgeleaf operate from?
Lexington, Kentucky, which shares one urban county government with Fayette County. The service runs by phone and online, so owners elsewhere in central Kentucky use it the same way. The contact page lists the number and street address.
What kinds of funding does Lodgeleaf leave alone?
Personal or consumer loans, mortgages, commercial real estate purchases, startup funding with no trading history, agriculture and trucking requests, and grants.
Loans, payoff and down payments
Can you pay off a business loan early without a penalty?
Often, yes, but read the agreement first. Some loans carry a prepayment charge, and some calculate interest so that most of it is owed whatever the payoff date. Ask the partner to state the early-payoff cost in writing.
Do business loans require a down payment, and which ones?
Working capital loans and lines of credit generally do not involve a down payment. Equipment financing sometimes does, especially for used or specialized equipment, and term loans for projects may expect the business to put some of its own money in. The partner decides; see equipment financing.
Can I get a line of credit for my business in Fayette County, KY?
Many established businesses can, though partners look for a revenue history long enough to judge. The line of credit page covers draws, renewals and payroll use.
Merchant cash advances
Does the agreement make a merchant cash advance a loan?
No. A merchant cash advance is a purchase of future card or bank receipts, collected as a share of sales or a set debit. It is not a loan and has a factor instead of an interest rate. The merchant cash advance page works through an example.
Why does Lodgeleaf list an advance next to loans?
Because owners compare them. Seeing the advance beside a line of credit or working capital loan makes the difference in cost and collection easier to judge.
The request form
What does the Lodgeleaf form ask?
Full name, phone, email and an optional company name come first; after them sit three required picks (time in business, an annual revenue band, a requested amount band) and a consent box. No documents are uploaded through the form.
Whose decision is it once the request goes out?
That decision belongs to the funding partner. Each partner that reviews the request makes its own credit decision and sets its own rate and terms, and you decide whether to accept any offer.
When might a partner look at my credit?
Partners decide whether and when to review credit as part of their own process, and they should tell you before they do. If timing matters to you, ask the partner directly before agreeing to a review.
The full sequence is on how it works, and all six funding shapes are compared on the funding options page.
By Lodgeleaf Business Loans · Updated