Valepine Business Capital, a small-business funding broker in Oshkosh, Wisconsin, recommends checking records before choosing a product: the entity's standing with the state, any UCC liens, bank statements, tax returns and existing debts. In Winnebago County, WI, 45.4% of employers had fewer than five employees in 2023. Lending partners make all decisions.
Why records come first for small employers
Winnebago County, WI had 3,784 employer establishments in 2023, and 1,717 of them, 45.4%, had fewer than five employees (U.S. Census Bureau, County Business Patterns 2023). Another 10,168 county businesses had no paid staff at all in 2024 (U.S. Census Bureau, Nonemployer Statistics 2024). At that size the owner usually keeps the books, and the records a partner asks for are scattered across a bank portal, a tax preparer and a filing cabinet.
Gathering them once, before any request, saves the back-and-forth that slows most applications.
1. Entity status with the state
Partners check that the business exists and is in good standing with the state. Owners here search for the "wisconsin dfi business entity search" to check their own record. Make sure the legal name, entity type and registered agent are current, and that annual filings are up to date.
2. Your UCC lien record
Every secured lender, lessor and merchant cash advance funder that has filed against the business appears in a UCC search. Run one on your exact legal name and read it before a partner does. The Wisconsin UCC search guide explains how to read each filing and what to do about stale ones.
3. Bank statements
- The most recent several months of business account statements, all pages
- Every account the business uses, not only the main one
- A short note explaining any unusual deposit or overdraft
Personal and business money in one account is the most common problem partners raise. If they are mixed, separate them now; a few clean months help.
4. Tax returns and financial statements
Larger requests usually require business tax returns for the last two years, and sometimes the owner's personal returns. A current profit-and-loss statement and balance sheet help. If a return is still with the preparer, say so up front.
A note for owners with no employees
Most of Winnebago County, WI's 10,168 nonemployer businesses are run by one person (U.S. Census Bureau, Nonemployer Statistics 2024). For them, the records question is often whose name is on what. Bank accounts, equipment titles and existing loans may sit in the owner's personal name rather than the business's, and partners will ask which assets belong to which.
If the business is a sole proprietorship, the owner's personal credit and personal returns carry more weight. If it is an LLC or a corporation, make sure the bank account and the UCC record carry the same legal name as the state's entity record.
5. A debt schedule
| Lender or funder | Type | Balance | Payment and frequency | Collateral |
|---|---|---|---|---|
| Example: equipment lender | Equipment loan | Current balance | Monthly amount | The machine |
| Example: card issuer | Business credit card | Current balance | Monthly minimum | None |
List every obligation, including merchant cash advances. Partners will find them in the bank statements and the UCC search; listing them yourself shows you know where the business stands.
A one-page cover note
Partners read a lot of files. A single page that says what the business does, how long it has operated, what the money is for, how it gets repaid and what records are attached saves them time and saves you follow-up questions. Write it in plain sentences; no projections are needed for a first call.
Put the debt schedule and a list of any UCC filings at the bottom of that page. Anything a partner would discover anyway reads better coming from you first.
Then choose the structure
With records in hand, the product choice gets easier. The six structures are compared by repayment and collateral, and how it works explains what follows the first Valepine call. County context is on the Oshkosh, WI page, and other articles on the blog.
By Valepine Business Capital · Updated