Monterra Credit Union
Description
Offering comprehensive SBA financing options, this commercial bank specializes in supporting small businesses with loans tailored to their growth and operational needs. Whether you’re seeking funding for expansion, equipment, or working capital, they provide flexible solutions to help your business thrive. Their team is committed to guiding clients through the lending process, ensuring clarity and support at every step. With a focus on small business success, they leverage SBA programs like the 7A to deliver competitive terms and accessible funding options. Located in Redwood City, CA, they serve a diverse clientele across various industries, emphasizing personalized service and financial expertise.
Location
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Q&A
Lender Type
Commercial Bank
Google Rating
3.1
Google Review Count
51
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that offers SBA loan programs and small business financing solutions designed to support your business growth and operational needs. You can find expert guidance, flexible loan options, and personalized service to help you succeed.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.
Question 3
What are the hours of operation?
Answer 3
Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday, but it is best to contact them directly for specific hours.
Question 4
Is there a fee to use this?
Answer 4
There are application and closing fees associated with SBA loans, which vary depending on the loan size and type. The bank provides transparent fee disclosures during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small businesses within its regional area, but eligibility for SBA loans is based on business criteria rather than residency alone.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is typically preferred, though higher scores improve approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.