Mission Valley Bank Small Business Loan Review
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Whether it’s time to purchase new equipment, upgrade technology, or increase inventory, Mission Valley Bank claims to offer pain-free, custom business loans that are just right for your needs. They also offer SBA loans, flexible leasing options, commercial real estate loans, multi-unit family dwelling financing, auto and truck financing, corporate credit cards and lines of credit, too.
Understanding Your Loan Options
Mission Valley is a large institution in the sense that they offer a broad range of financial products and services. Small business loans can be difficult to acquire and difficult to sort. Some companies make the process easier than others, some give better terms, and some measure you by your credit score, some by your social media presence and potential earning power. The differing terms and conditions are sometimes difficult to parse.
Mission Valley offers all sorts of merchant services, but they also offer a fair number of credit products, like Accounts Receivables Financing to help improve cash flow, commercial real estate loans, lines of credit and corporate credit cards, If your small business is looking for a loan to acquire inventory, make repairs, expand or renovate, there are many eager small business loan companies or larger financial institutions often have small business loans as a subset of their financial portfolio.
Speed of Implementation and Loan Duration
This company seems very eager to service the small business financing market. They go to the trouble of having SBA expertise along with the quicker fix forms of credit that they offer as well. Idea of borrowing against future credit card receipts, or leasing back your own equipment are creative and current solutions for small businesses to get access to a chunk of money to either pay business debts or invest in new inventory.
Before you seek financing, gather your business’ documents – business plans, both long term and short, balance sheets, profit and loss statements, cash flow statements, tax returns, list of assets, any proposed collateral, credit reports and marketing plans. Analyzing loans can be quick; the length of time to apply and get the loan is completely dependent on the amount of time it takes the borrower to get their paperwork together and into the bank.
Fine Print and Final Thoughts
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.
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.