Merchant Loan Closing Call: Top 4 Tips

A merchant loan closing call is often required before the lender will wire funds into your account.    They will alert you when you need to take and complete the call.

But what exactly is a merchant call?   Why is it important?    How do you pass it,  – or fail it?

Consider the top 4 ways, detailed further below, to easily handle a merchant closing call.

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1. Give fully accurate information.
2. Don’t withhold anything critical.
3. Do not volunteer information.
4. Do not answer if you are unsure. 

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merchant closing call
How to pass a merchant loan closing call

The lender is making the borrower closing call to you.

4 Top ways to insure the merchant loan closing call is successful and you get funds. 

1. Give fully accurate information: 

When the lender calls, always accurately answer every question.

Even for minor issues, always give completely accurate answers. This also includes clarifying things.     You may be asked about the most recent cash flow in the account since the beginning of the most current month, also known as month to date or MTD statement.   The lender may want to know if your cash flow has changed since the beginning of the month.   Make sure your balance is not low when the loan closes.   Having about three times the daily payment is safe.

Example #1:

The business address on the application is a mailing address rather than the physical address.    The lender confirms the business address with you.    Let the lender know the address listed on the application is not the physical address for the business.    Give them the physical address if they ask for one.

Another example is if the lender asks if you are the owner.   If there are more owners, let them know about each one.

Other examples can include giving updated information on the company such as product lines, website detail and a full explanation of what the company does.

2. Don’t withhold critical information

If you have important updates that the lender does not know, tell them or give them an update during the live merchant loan closing call.

Any updates not provided before closing can backfire and cause major problems later.    Even if one of these reasons means your business loan does not close, it is better to work through the issues now.

Example # 1:

A company buyout.   You are in negotiations to sell the company and have not told the lender.    This is critical information they would definitely want to know and likely would not approve the request if they knew.

Example # 2:

You are 1 of 2 owners of the business guaranteeing the loan.   You plan on buying out the other owner after closing.   It would be advisable to tell the lender what your plans are.    The lender approved the funding based on the current owners of the business.   If the lender knew one of the guarantors will be bought out shortly after closing, they may not approve the request.

Example # 3:

The IRS or state is filing a tax lien against you personally, or your business.
If you need money to pay irs business taxes and the IRS or State is about to file a lien against you or your business, it is risky not to tell the lender about this.

The loan contract may say the lender needs to be made aware of any impending liens that may be filed against you.    Not disclosing this type of information could be considered a violation of the contract.

Example # 4:

Outstanding liens on assets.   The lender does a search of existing liens and may not find your listed assets as encumbered.   The lender must be told about any liens they did not find in their search.

Sometimes previous lenders may have put a blanket lien on assets and those assets are not itemized at the Secretary of State.   Such liens are sometimes called a lien on all assets, including furniture, fixtures and equipment.    This type of lien may not list a specific asset, but still includes that asset.   Tell the lender which specific pieces of equipment are encumbered.

3. Do not volunteer information

In general, do not give information that you are not being asked about.

Providing anything not asked for has the potential of stopping the closing. You may be telling them something they did not know about and will not like.   Even if it is minor, it may be enough to cause the loan status to be put on hold and then declined.

4. Do not answer if you are unsure.

Many times we want to get tasks over with. This causes us to sometimes answer questions when we are not completely sure about our answer. Don’t do this! If you are not sure, tell the lender you will check and call them back.

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FAQ on Merchant Loan Closing Calls.

What is a merchant call?

A merchant loan call is when a lender is about to close and fund a loan.  One of the closing requirements is they call the borrower just before funding to confirm their identity and the loan request.

What do I say on a loan closing call?

Always give correct information.  Do not withhold anything critical.  Also do not volunteer any information or answer questions when you are unsure.

What if I fail a borrower closing call?

Call the lender to find out if the problem is something that can be corrected in the short term to still fund the loan.   If not,  get a full understanding of why the call was not satisfactory.

If you cannot get the decision reversed, apply with other lenders and eliminate the issues on your next approval before the closing phase.


Loan closing calls for businesses are a quick,  but important part of the completion process.

Do not take the call when you are in the middle of another task.  Try to find out when the lender will call and what the questions will be about.

Mostly, just answer the questions accurately and thoroughly. If there is a misunderstanding or the lender does not know something important, correct and update them.

The lenders want to close the transaction.   They are looking for every reasonable way to close rather than decline.  If there are still issues, then discuss them with the lender.    They will give you the best plan to get past any hurdles and send funds to your account.

This should result in a quick closing process and funding!


Closing Stipulations for Business Loans Video

Closing stipulations are documents or requirements that are needed to complete and fund a business loan.

They may also be required for other types of transactions but are most often needed for loan, lease and real estate contracts.

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14 top business loan closing solutions
Run into a problem closing? Get the answers on how to get funded.

Watch: Business Loan Closing Stipulations, at the Top of page! Apply below now or call 919-771-4177.  Transcript here

Need funding for a business with the fewest closing requirements?   Complete the application link below now.  To watch the Video only, visit Video: Closing Stipulations for Business loans. 

Call 919-771-4177 for more info.

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Closing Stipulations for Business Loans

1. Proof of Income.
2. Copy of Business License or Articles of Incorporation
3.  Proof of Ownership of the business.   Proof of business ownership percentage if multiple owners.
4. ID such as a copy of current driver’s license.
5. Copy of voided business check.
6. Bank Verification using secure vendors to pass a DecisionLogic check, or Join me, is needed, as well as a final merchant closing call.
7. Acceptable account activity in the last 90 days.   The current balance may need to be a multiple of the required payment.   For example, an mca cash advance may require three times the daily payment in the account at the time of closing.   Excessive overdrafts and NSF’s may cause a late decline.
8.   Most recent year business tax return.
9. A Background Check for a business loan is completed.   The lender will do a background check on you personally.
10.   Payoff letter from another lender.
11.  Proof of your business address or business location
12.  Proof of Insurance.
13. Landlord contact information.
14. A landlord waiver signed by your landlord may be required.   This is for  businesses that lease or rent a space.

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What are closing Stipulations?
Loan Stipulations for Business Loans

FAQ Frequently asked questions on closing stipulations for a business loan


Do you have a lot of closing requirements?

Our programs have the fewest number of closing stipulations and items required for closing. Any requirements are items you can easily get to close the loan.

Can I still get funding if I don’t have all closing items?

Yes. Any items you do not have might be waived. Otherwise we can qualify you into a program that does not require certain closing documents you may not have.

What are the closing stipulations for a business loan?

Closing stipulations are documents required to close the transaction and be funded. They usually are identification, proof of ownership, and verification of accounts. Sometimes proof of business location or address may be requested.

Stipulations that happen automatically

Some stipulations such as the lender putting a UCC blanket lien or more standard UCC lien on your business happen automatically.   Next, review your contract to know exactly how the lender will file the UCC lien and on what.

You cannot provide closing items required to complete a business loan and need another option.   Click on the links above that match what you cannot provide.

Finally, if you cannot provide a tax return, there are other funding options.

More closing stipulations required:

Larger business loans, real estate and other asset based loans have more closing stipulations.  The higher the dollar amount the more difficult they may be to provide.

To prevent fraud, many lenders are doing a business loan closing call.   They talk to the borrower to confirm the request.

Did you know?

Many customers cannot provide all items required to complete a transaction.   So what do you do if you cannot provide all the required items?

Call the lender and discuss.   Explain why you cannot provide what they are asking for and ask if there are substitute items you can provide in place of what they are asking for.

Negotiate required items and try to get some waived or a substitute document accepted.   This may not apply to a large business loan and real estate backed loan that are heavily regulated.

Examples of negotiating or waiving stipulations

For example, a requirement may be last years tax return but you do not have  last years tax return due to filing an extension.

Request providing proof of filing an extension instead.   Another option is also to request waiver of the tax return altogether.

K-1’s from your most recent Tax return are accepted as Proof of Ownership.

However, Articles of Incorporation showing shareholder ownership percentage should be accepted in place of a K-1.  Providing a copy of a business license with the Owners name on it.

Recent example from the Web: Including a long list of many other types of
Loan Stipulations

Show Video Transcript Details

Closing Stipulations for Business Loans

[ race car engines ] Its time to close your business loan now, and get the funds you need.  But then the lender sends you a list of closing stipulations they need before you get your money, and you don’t have them. [ desert wind blowing ] Call us for fewer stips and the most help with documents like, proof of ownership, Tax ID and EIN, [ wind blowing ] proof of business address, passing DecisionLogic bank verification. We will get you past all the Hurdles [ motorcycle engines ] and to the Funding Finish Line. [ water bubbling ] Low credit scores OK. Apply at, Or Call: 919-771-4177.