Oceanmead Business Loans, a small-business funding service in Monroe, North Carolina, sets out its role here: it matches requests with funding partners who review them and make their own decisions. The page covers merchant cash advances, information sharing and checks before accepting an offer.
What Oceanmead Business Loans is, and is not
Oceanmead Business Loans is a broker, not a lender. Oceanmead puts up no money of its own, makes no credit decisions and sets no rates or terms. It takes requests by phone and online form and matches them with funding partners.
Partners that receive a request decide independently whether to make an offer and on what terms.
Partner decisions and offers
Each partner reviews requests under its own criteria and may ask for records. Offers, if any, come in writing from the partner itself. Oceanmead cannot promise that any request will receive an offer, and a request does not oblige you to accept one.
Merchant cash advances are not loans
A merchant cash advance is a purchase of future receipts at a discount, not a loan. The funder collects an agreed share of receipts until the purchased amount has been remitted. A factor, rather than an interest rate, sets what it costs.
How your information is shared
Information you give in the request form or on a call is used to match your request and may be shared with funding partners considering it. The privacy policy sets out the categories of information and your choices.
Checks before you accept any offer
- The total amount repaid or remitted, every fee included.
- The payment schedule and how it fits your slowest months.
- What is pledged, which liens are filed, and whether you sign personally.
- Prepayment terms and what happens on default.
- For an advance: the factor, holdback or fixed debit, and reconciliation rights.
Questions about this page
Call (704) 937-1242, or see the contact page.
By Oceanmead Business Loans · Updated