Meadows Bank Small Business Loan Review
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Meadows Bank is a full-service banking institution that offers a variety of financial products and services to residents of Nevada and Arizona. They have chosen to specialize in relation to a geographic area so that they can help clients who will ultimately help each other as well. Their experienced commercial lenders tend to specialize in the region’s most prosperous businesses.
Understanding Your Loan Options
Much like a financial advisory, Meadows specializes by type of industry in a variety of businesses, including gaming, wholesalers, retailers, manufacturers, service contractors, and real estate developers. They seem to focus on personal one-to-one business relationships, so they work with clients individually and take the time to thoroughly understand the financing needs of your business. They are essentially financial planners, so they well be all up in your business and will want you to utilize their proper cash management products so that you receive the highest benefit from your lending relationship with Meadows Bank.
The range of types of loans is also impressive. Meadows is willing to finance almost any level of enterprise to expand, construct, buy land, open a line of credit, etc. They are offering a range of services that no doubt support each other by providing discounts and free services if you are a customer in another area like a small business loan. So maybe your business checking account is free. Or you can get a line of credit at a reduced interest rate if you make your payments out of that account. They also offer SBA loans, including the two traditional SBA loans 7(a) which is a secured loan and 504 which is mainly for equipment or real estate and is unsecured.
Speed of Implementation and Loan Duration
Meadows doesn’t give much information on the speed of the application process or loan disbursement. However, we can confidently say that their SBA products are not going to get the approval timeframes you want if you’re looking to cover a short-term cash shortfall or other working capital issues. If these are the reasons you’re interested in a small business loan, then your best bet is to look to online only lenders or peer-to-peer lending networks so you can get the cash you need when you need it.
Fine Print and Final Thoughts
There are definitely small differences in the expense and quality of service between banks that offer SBA loans, but it is very difficult to be specific in that comparison without going through the pre-approval process. On the whole, Meadows ranks in the middle of the pack when it comes to small business lenders.
Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.