Palmwick Lending, a small-business funding service in Kokomo, Indiana, takes a request through four steps: a call about the bill, a check of the basic records, a lending partner's review, and your decision on any offer. This page explains each step, the documents partners usually ask for, and what affects how long a request takes.
Who Does What: Palmwick and Its Lending Partners
Palmwick Lending is a broker, not a lender. Not one dollar comes from Palmwick, and not one credit decision is made here. Our job is to understand what the money is for, check that the request is complete, and send it to lending partners who fund that kind of business. Each partner underwrites the request on its own criteria, sets its own rates and terms, and decides whether to make an offer.
Palmwick Lending connects you with lending partners; partners make credit decisions and set rates and terms.
Splitting the roles this way affects you twice. First, nobody at Palmwick can promise an approval, an amount or a rate, because those are the partner's decisions. Second, you are never obliged to accept an offer; you can compare, ask questions or walk away.
Step 1: Ringing Palmwick or Sending the Form
Start by phoning (765) 224-5248, or fill in the online request. That form asks for your full name, phone, email and company name (optional), plus three required picks: time in business, an annual revenue range and a requested amount range. On the callback we talk through what the money pays for, when the bill is due, and roughly how much is needed.
Step 2: Documents Needed for a Business Loan From a Palmwick Partner
Partners set their own lists; a request can involve some of these:
- A run of recent business bank statements, usually several months.
- A recent profit-and-loss statement and balance sheet, if you keep them.
- Business tax returns for recent years.
- The entity's state filing and ownership details.
- A list of existing loans, leases and advances, with monthly payments.
- For equipment or acquisitions: the quote, bill of sale or purchase agreement.
We check that the basics are present before anything is sent, so a partner is not left waiting on a missing page.
Step 3: The Partner Runs Its Own Underwriting
A lending partner reviews the request, may ask follow-up questions, and decides. If it makes an offer, the offer comes in writing with the amount, the cost, the payment schedule and the security required. Some requests go to more than one partner, and each decides independently.
Step 4: Your Decision
Read the full offer. Check the total repaid, the payment frequency, any prepayment terms and what is pledged. Ask the partner about anything unclear. Then accept or decline. Declining costs you nothing in obligations; you have not agreed to anything until you sign.
Business Loan Approval Time Hinges on Paperwork, Not Promises
There is no standard time, and we do not promise one. Timing depends on the partner, the structure, the size of the request and how quickly documents arrive. How long does applying for a business loan take? How long the first call and the document gathering take varies by business. Each institution sets its own documentation and review, so ask each partner what it needs.
Having bank statements, financial statements and the entity's state filing ready before the partner asks gives the review what it will need.
Before You Start
Compare the six structures on the options page, see county figures on the Kokomo, IN page, and check the FAQ for shorter answers. If the bill is payroll, the working capital page covers it in detail.
By Palmwick Lending · Updated