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Mortgage Capital Development Corporation

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Description

Mortgage Capital Development Corporation offers comprehensive commercial banking services tailored to small and medium-sized businesses seeking SBA financing options. With a focus on supporting business growth, they facilitate access to various SBA loan programs, including the popular 7(a) loan program, to help clients secure funding for expansion, equipment, or working capital. Their team provides personalized guidance throughout the loan process, ensuring clients understand their options and meet necessary requirements. Located in Oakland, CA, they serve a diverse range of industries, emphasizing community development and economic growth. The bank’s expertise in SBA lending makes it a reliable partner for entrepreneurs looking to leverage government-backed loans to achieve their business goals. Their commitment to customer service and financial solutions positions them as a trusted resource for local and regional businesses seeking flexible financing options.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.6
Google Review Count
31
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank that provides SBA-backed loan options and financial services for small and medium-sized businesses. You can find assistance with SBA 7(a) loans, business expansion funding, and other tailored banking solutions.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated service, but walk-in consultations may be available during business hours. Calling ahead can help you prepare and get the assistance you need promptly.
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. It is advisable to check directly with the branch for specific hours or any holiday closures.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; however, certain services and loan processing may involve fees disclosed during the application process. Always review the fee structure before proceeding.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves local businesses and residents within its regional footprint but welcomes qualified applicants who meet lending criteria regardless of membership status.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 650 is generally preferred, though higher scores may improve approval chances and loan terms.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the complexity of the application and completeness of submitted documentation.
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