Weststone Lending in Elyria, Ohio is a funding broker, not a lender. It passes business funding requests to funding partners, which review them and make their own decisions on approval and terms. A merchant cash advance is a purchase of future receivables and not a loan.
Weststone Lending Is a Funding Broker, Not a Lender
Weststone Lending does not lend, lease or advance its own money and does not make credit decisions. It takes a business's request by phone or online form, talks through which funding types fit, and passes the request to funding partners.
Funding Partners Decide on Their Own
Only the reviewing partner decides whether to make an offer and sets its amount, price and terms. A partner may decline or offer something other than what was requested. No request is assured of an offer.
A Merchant Cash Advance Is Not a Loan
In a merchant cash advance, a provider buys a share of the card receipts a business will collect in the future. The provider collects its share as receipts settle, and the cost is expressed as a total to be collected rather than an interest rate.
Checks Before Signing an Offer
- Read the whole agreement and keep a signed copy.
- Add every fee to the payments and note the total paid or collected.
- Find the collateral, any personal guarantee and any prepayment charge.
- Ask the partner about anything unclear before signing.
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