Crownwick Advances, a small-business funding service in Lancaster, PA, answers questions owners may have before a request: which product fits, what partners review, how merchant cash advances differ from loans, what it costs, and what happens after you get in touch.
About Crownwick Advances
Does Crownwick Advances lend money?
No. We match your request with funding partners, who review it and make their own decision; Crownwick does not supply the money itself. How it works lays out the four stages.
Where is Crownwick Advances?
In the City of Lancaster, Pennsylvania. Requests are handled by phone and online; the address is on the contact page.
Which Lancaster County, PA towns does Crownwick cover?
Owners across Lancaster County, PA, including Millersville, Willow Street, East Petersburg, Bird-in-Hand, Landisville and Ronks. See the areas page.
Choosing a product
Which option is right for payroll?
Working capital for a one-off gap, a line of credit for a gap that repeats.
Which option is right for a machine or vehicle?
Equipment financing, where the equipment usually secures the deal. Try the CNC payment calculator for an estimate.
What about a renovation or second location?
A term loan is the option to look at. All six are compared on the options page.
Credit, documents and review
Could sending a request touch my credit file?
Partners may check credit as part of their review, and the kind of check varies. Ask the partner before you authorize it.
Which papers should I pull together first?
Recent business bank statements first; possibly tax returns, financial statements, quotes or a lease depending on the product.
Do partners require a set number of years in business?
That cut-off differs from partner to partner. The form asks for your time in business so the request goes to partners who consider it.
Merchant cash advances
Is a merchant cash advance a loan?
No. It is a purchase of part of your future receipts, collected from sales until an agreed total is remitted. The merchant cash advance page works through the arithmetic.
Why does an advance cost more when collected quickly?
Because the total is fixed. The faster it is collected, the higher the effective annual cost, even though the dollars do not change.
Cost and next steps
Can you tell me the rate before I apply?
No. Partners set rates and terms after reviewing each file.
Must I take an offer once it arrives?
No. Every offer can be turned down.
Where can I read longer examples?
The blog has worked examples for machine shops, construction companies, salons and auto repair shops. Still stuck? Get in touch.
By Crownwick Advances · Updated
