Bank of the West was organized in 1985 as a privately capitalized,
independent commercial bank. One of our primary functions is to provide small businesses
with long term capital by originating and servicing small business loans through the loan
guarantee programs of the United States Small Business Administration.
ELIGIBLE SMALL BUSINESSES
Bank of the West's current portfolio includes companies from
most industries and professions. One of our principal programs is to provide long term
financing for owner occupied business.
WHY SELECT BANK OF THE WEST?
Our professional staff is trained to be efficient, responsive,
and flexible. As a participant in SBA's Preferred Lender Program, Bank of the West makes
the loan application quick and simple. We can give you the same day answers as to whether
or not you are qualified to apply for a SBA guaranteed loan. As specialists, the
application process can be streamlined, with an approval usually obtained within ten
business days. As a bank specializing in SBA small business loans, we give special
treatment and service to all of our SBA clients.
UNDERWRITING STANDARDS
Bank of the West's lending standards are straight forward and
based on common sense. Successful applicants must be of good character, show the ability
to operate a business successfully, have sufficient capital to operate the business on a
sound financial basis, and show the capacity to repay the loan based on past earnings
and/or future projections based upon sound theory and data.
Most loans are secured by a first lien on
owner-occupied commercial real estate and/or machinery and equipment. Hazard insurance on
all collateral is mandatory. The principals in the business must provide personal
guaranties, and life insurance is usually required on the LIFE of the principals.
TYPES OF LOANS
REAL ESTATE--Long term
financing up to 25 years is available for expansion or acquisition, new construction, or
refinance of existing miniperm debt for owner occupied projects.
EQUIPMENT--Financing is
available up to 10 years for acquisition or refinance.
PERMANENT WORKING CAPITAL--Financing
provided up to 10 years to promote growth or expansion, secured by commercial real estate.
LOAN TERMS
- $50,000 to $2,000,000
- Adjustable rates tied to low New York prime as published in
the Wall Street Journal
- Up to 25 years
- Owner occupied
- Security may be a combination of business and personal
assets
- Fully amortizing
BENEFITS OF USING AN INDEPENDENT BANK LENDER
- Service Oriented responses
- Local decision making
- Other bank services available
- We work with commercial bankers, CPA's, franchisers,
business brokers, and commercial realtors
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