Short answers from Aspenwater Credit, a small-business funding broker in Dover, Delaware, to questions Kent County owners raise about business funding: what a broker does, whether an LLC can borrow, paying yourself, personal loans used for business, merchant cash advances and Delaware registration. Lending partners, not Aspenwater Credit, decide and set terms.
About Aspenwater Credit
Is Aspenwater Credit a lender?
No. Aspenwater Credit is a broker, not a lender.
Where is the business?
At 146 S Governors Ave, Dover, DE 19904, in Kent County, Delaware. Phone (302) 307-0447.
Do you work with consumers?
No. Only businesses. We do not arrange personal, payday, auto title or home loans.
Are there sectors you do not take?
Yes. We do not take agriculture or trucking requests.
Borrowing as a small business
Can an LLC get a business loan?
Yes. LLCs are among the most common borrowers. Partners will look at the LLC's own bank statements and returns, and usually ask the members to guarantee the debt personally. Registrations need to be current; see our Delaware guides.
Can I use a business loan to pay myself?
A business can pay its owner from operating cash in the normal way, but funding requested for one purpose and spent on another can breach the agreement. If owner pay is part of the plan, say so on the first call.
Should I use a personal loan for my business?
It is possible, but it puts business risk on your personal credit and keeps the business from building its own borrowing history. Business funding usually carries a personal guarantee anyway, so the question is mostly about structure, records and limits. We do not arrange personal loans.
How long does the process take?
Timing turns on the partner, the structure and how soon your documents come in. Nobody can promise a timeline before a review; the four steps show where the time goes.
Advances and offers
Is a merchant cash advance a loan?
No. A funder buys a fixed amount of your future receipts and collects it until that amount is remitted. Read the merchant cash advance page before signing one.
Can you tell me my rate before I apply?
No. Rates and terms are set by the partner after its review. Anyone who quotes a rate without seeing your file is guessing.
What if I already have an advance or loan?
Tell us on the first call. Existing debits affect what a partner will consider, and some agreements restrict new funding while they are outstanding.
Delaware and Dover, DE specifics
Do I need my Delaware registrations in order before applying?
Partners commonly check that a business exists and is properly registered. Our guide to the Delaware business license and gross receipts tax explains how those records appear in a funding file.
My company was formed in Delaware but operates in another state. Is this site for me?
Aspenwater Credit works with businesses operating in Delaware and the Dover, DE area. Companies that are only formed in Delaware and operate in another state are not who this site is written for.
By Aspenwater Credit · Updated