Below is a list of the more commonly asked questions regarding mBank Business Credit:
Q: How quickly can mBank Business Credit assist my business?
We pride ourselves on our speed and professionalism. The typical timeframe to issue a proposal can be done within 24 hours of receiving your information. Loans can be closed within a few weeks or less.
Q: What is mBank Business Credit’s lending decision based on?
Our decision to accept your loan is based on your company’s future outlook, the quality of the collateral being offered and the quality and credit worthiness of the principals of your organization.
Q: I had an operating loss last year; does this preclude me from being considered for a loan?
No. mBank Business Credit prides itself on assisting businesses in their turnaround and returning them to profitability through our alternative lending services.
Q: Any industries that will not be eligible?
Our primary focus is support for manufacturing, staffing, retail and wholesale companies. We may be able to accommodate other categories. However, financial services, healthcare, real estate and construction and insurance are ineligible for mBank Business Credit financing. See our Services page
for more information.
Q: Are there any geographic limitations?
No. mBank Business Credit is a national lender.
Q: Does mBank Business Credit require the principals of our borrowers to sign a personal guaranty?
Yes. However, a personal guaranty is based on specific relationship criteria.
Q: How will mBank Business Credit approve credit?
mBank Business Credit will review your business’s collateral and financial information, draft a proposal, conduct an onsite audit as well as a comprehensive background check of the principals and provide you with a borrowing assessment.