Aspenspring Business Loans in Durango, Colorado is a funding broker, not a lender, despite the word Loans in its name. It places business funding requests with funding partners that review them and make their own decisions on approval and terms. A merchant cash advance is not a loan. Read every offer in full before signing.
Aspenspring Business Loans Is a Funding Broker, Not a Lender
Despite its name, Aspenspring Business Loans 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, discusses which funding types fit, and places the request with funding partners that consider that kind of request.
Funding Partners Decide on Approval and Terms
Only the reviewing partner decides whether to make an offer and sets its amount, price and terms. A partner may decline, or offer something different from the request. Aspenspring cannot change a partner's decision, and no request is assured of an offer.
A Merchant Cash Advance Is a Purchase of Receipts, Not a Loan
In a merchant cash advance a provider buys a share of the card receipts a business will collect later. Amounts are remitted or collected as receipts arrive, and the cost comes from a factor, not an interest rate. Set the total to be remitted against the total cost of a loan or line for the same need.
Before Signing Any Offer
- Read the full agreement and keep a signed copy.
- Add every fee to the payments and note the total paid or remitted.
- Find the collateral, any personal guarantee and any charge for paying early.
- Ask the partner about anything unclear before signing.
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