Kitehill Commercial Capital, a small-business funding broker in Greenville, South Carolina, works in four steps: understand the need, match it to a funding type and lending partners, let a partner underwrite and decide, then help the owner compare any offer on total cost, schedule and collateral. Partners make every credit decision and set all rates and terms.
Broker or lender: who does what
A lender puts up the money, decides who qualifies and sets the price. A broker does none of those things. A broker's job is to understand what a business needs, explain which kinds of funding fit, and put the request in front of lenders or funders that offer those kinds.
| Task | Kitehill Commercial Capital | Lending partner | You |
|---|---|---|---|
| Explaining funding types | Yes | Sometimes | Asks questions |
| Matching the need to partners | Yes | No | Supplies information |
| Credit review and decision | No | Yes | Authorizes any credit check |
| Setting rates and terms | No | Yes | Compares and negotiates |
| Signing the agreement | No | Yes | Decides whether to sign |
Step 1: Describe the business and the need
Call (864) 302-0567, visit 101 W Court St, or send the short form. We will ask what the money is for, roughly how much, how the business earns its revenue, how long it has operated and what it already owes. A rough answer is fine at this stage.
Step 2: Match the need to a funding type
We line the purpose up with one of six types: working capital, term loans, lines of credit, inventory financing, equipment financing or merchant cash advances, which are not loans. Then we identify partners that offer that type and tell you what they usually ask to see.
Step 3: A partner reviews and decides
The partner runs its own underwriting. Expect requests for recent business bank statements, entity and ownership details, and often tax returns or financial statements. Many partners check credit for the business and its owners; a partner should tell you what kind of inquiry it will make before you authorize it. The partner alone decides whether to make an offer and on what terms.
The South Carolina business loan checklist lists the documents and state registrations worth having in order before this step.
Step 4: Compare any offer before you sign
Line up every offer on the same measures:
- Cash you actually receive, after anything deducted at funding.
- Total you will pay or deliver over the life of the agreement.
- Payment frequency and amount, tested against your slowest month.
- Collateral and guarantees, including any lien on all business assets.
- Early payoff terms, and what happens after a missed payment.
Accepting is always your decision, and declining every offer is a reasonable outcome.
APR, factor rates and total cost
Loans are usually priced with an interest rate, and many quote an annual percentage rate that includes some charges. Merchant cash advances are priced with a factor, which is the total to be delivered divided by the amount advanced; it is not an interest rate and cannot be compared with one directly. The most reliable common measure across every kind of offer is total dollars out against dollars received, together with how long the money is outstanding.
Warning signs in any funding offer
- Anyone who promises approval, an amount or a price before a lender has reviewed your file.
- Requests to pay anything up front to unlock an offer.
- Pressure to sign the same day, or reluctance to give you the full agreement to read.
- Offers that do not state the total amount you will pay or deliver.
- A second advance pitched while the first is still being collected.
If something feels off, slow down. Free advisers at the Greenville Area SBDC can review an offer with you; the Upstate resource directory has their details.
Questions and next steps
The owner questions page answers the most common questions, and the broker disclosures set out the relationship in full.
By Kitehill Commercial Capital · Updated
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