Skybank Business Loans, a small-business funding service in Wausau, Wisconsin, publishes guides for Marathon County owners: Wausau zoning and building permits, Wisconsin child care licensing before an expansion, the lender types found in Wisconsin, and a gym equipment finance calculator.
How to get a business loan for expansion: a Wausau, WI checklist
- Write down what the expansion adds: space, equipment, staff.
- Price each part with quotes and bids.
- Check zoning and permits for any new space.
- Project the added revenue month by month.
- Pull statements, returns and a profit and loss statement.
- Phone (715) 408-8962, or put the plan on the request form.
The term loan page covers expansion funding in detail.
What do lenders look for on credit report for a Marathon County, WI business?
A partner reads a credit report for payment history, current balances, credit used against limits, recent inquiries and any collections or public records. For a small business, the owner's personal report may be read alongside the business's. Check both reports for errors before you send a request, and be ready to explain any late payments.
What do lenders look for on tax returns for a Marathon County, WI business?
Tax returns show profit after expenses, which bank statements do not. A partner compares revenue on the return with deposits, looks at net income and the owner's pay, and checks that the business filed on time. Large write-offs lower taxable income but also lower the income a partner sees, so talk to your tax preparer before a large request.
Line of credit vs loan near Wausau, WI
A line of credit lets you draw and repay repeatedly up to a limit; a loan delivers one lump sum on a fixed schedule. Use a line for repeating, uneven costs and a loan for one purchase. The line of credit page works through two draws.
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