Palmbrook Funding is a small-business funding broker, not a lender, at 510 1/2 St Joseph St in Rapid City, South Dakota. It helps Black Hills owners decide which of six funding types fits a purpose and then introduces the request to lending partners, who make credit decisions and set rates and terms. Approving, pricing and lending all happen elsewhere.
What a broker does
A lender puts up money and carries the risk. A broker such as Palmbrook does neither of those things. Our job is to help an owner turn a need into a clear request, choose the right funding type, and bring it to lending partners that offer that type. Partners decide whether to fund, how much, at what price and on what terms.
Broker or lender, which do you need? If you already know the product and have a bank relationship, go straight to the lender. If you are unsure which structure fits, or want more than one partner to see the request, a broker can save time.
How Palmbrook handles partner introductions
We present each request only to partners that offer the relevant product. We explain the terms they come back with in plain language, and we point out what to ask about: total cost, collateral, personal guarantees, balloon payments, and for merchant cash advances, holdbacks and reconciliation.
Lines Palmbrook will not cross
- Promise an approval, an amount or a timeline
- Set up consumer credit of any kind: personal, payday, auto title or home loans
- Offer grants
- Handle agriculture or trucking funding
- Describe a merchant cash advance as if it were borrowing
Where we are
Palmbrook's one address is the half-number on St Joseph St: 510 1/2 St Joseph St, Rapid City, SD 57701, in Pennington County. Nearly every conversation starts on the phone. The Pennington County picture explains the local business base, how Palmbrook works sets out the steps, our disclosures state the limits of our role, and the contact page has the phone number.
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