Haleridge Commercial Capital, a small-business funding service in Las Vegas, Nevada, answers questions about business funding: what the money can pay for, whether an LLC qualifies, what a personal guarantor is, how merchant cash advances differ from loans, and what happens after the form is sent.
Using the money
Paying the owner from loan proceeds: allowed?
Partners fund business costs. Paying a reasonable owner's salary through payroll is a business expense, but taking loan proceeds as a personal distribution usually is not what partners agree to fund. Check the use-of-funds clause in any agreement.
Can funding cover taxes owed?
Some partners allow working capital to cover business tax payments; others exclude it. Say so up front if that is the purpose.
Can I refinance an existing advance?
Sometimes. Partners look at why the first advance was taken and whether the new structure reduces the daily burden. The merchant cash advance page explains how those are collected.
The business and the owner
Does entity type matter: LLC, corporation or sole proprietor?
Yes. LLCs, corporations and sole proprietors are all reviewed. Partners focus on the business's deposits and record and, usually, the owner's credit.
Personal guarantors, defined
A personal guarantor is a person, usually the owner, who agrees to repay the debt if the business cannot. Small-business funding can include one. Read the clause before signing.
Does my business need to be in the City of Las Vegas, NV?
No. Haleridge takes requests from across Clark County, NV, including unincorporated areas such as Sunrise Manor, NV and cities such as Henderson, NV and North Las Vegas, NV.
Merchant cash advances
Advance or loan?
No. It is a purchase of future card receivables, collected as a share of daily sales until a fixed total is remitted.
Why does an advance cost more than it first appears?
The factor rate fixes the total cost regardless of how quickly it is collected, so a short collection period can mean a very high cost in annual terms.
After you reach out
The first step after the form
Haleridge contacts you to talk through the purpose and documents, then sends the request to partners. The steps are on the how it works page.
Further reading on this site
Nevada and Clark County, NV record guides are on the resources page, and worked examples are on the blog.
By Haleridge Commercial Capital · Updated
