Lake Union Financial 6 Step Financing Process

Financing Process

Six Steps Application to Funding Process

Step 1 Financing begins with a completed credit application. Fill out our online form or print an application.

Step 2 Extra information may be required depending upon the credit information and size of the financing requested.

Step 3 An approval will be provided with terms, conditions, and any special requirements typically one to three business days after receipt of the completed application.

Step 4 UPON APPROVAL, the documentation may be emailed or overnighted to the customer in accordance with the sales invoice and desired terms and payoff.

Step 5 Upon receipt of the completed finance documentation from the customer, a purchase order will be issued to the equipment vendor to start the project and/or deliver the equipment.

Step 6 Upon receiving verification of the equipment delivery and acceptance, Lake Union Financial will pay the equipment vendor and the contract will begin.

Top Five Tips For a Timely Approval and
Funding Process
1. Accurate and verifiable information: does your business have a d/b/a name? Who are the owners/partners in your company? What percentage of ownership do they hold? How long has the company been in business under present ownership?
2. Proof of Time in Business: If you are a corporation, and usually if you are an LLC, we can verify the date of entity creation on the Secretary of State website. If you are a Proprietorship or Partnership we may need a copy of your first bank statement, a business license or a Schedule C from your first tax return.
3. Let us know the equipment cost, and provide a quote if you have one.
4. Signatures: On the application, and all the way through the process, give us your name and signature as it appears on your driver's license. If your name on your license is Jonathan Jones Jr., do not sign as "Jon Jones." Without matching signatures, we may have to request notarized copies. This slows things down and takes more of your valuable time.
5. Clean Credit Bureau: If you already know you have a "less than stellar" credit bureau report and you believe there is inaccurate information listed, click on this link: resolving credit problems. We have specifically designed programs to provide funding to customers who have prior bankruptcies, tax liens, judgments, repossessions, or slow pays. We fund traditional deals as well as sale-leasebacks, private party sales, start-ups, and owner/operators.
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