SBA Preferred Loans
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.
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
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.
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.
- $50,000 to $5,000,000
- 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