>> Letters of Credit
>> Line of Credit/Working Capital Loans
>> Machinery/Equipment Loans
>> Commercial Real Estate Loans
>> Hotel/Motel Financing
>> SBA Loans
>> Lending to the Not-For-Profit Entities (Religious and Charitable Organizations)


Letters of Credit
Helps to provide a business with the assurance of its performance on a specific contract.

• Domestic Letters of Credit will be issued by Mutual Bank
• International Letters of Credit will be issued by our correspondent bank on our behalf
• A secured note shall back up the letter of credit
  
  
  

Line of Credit/Working Capital Loans
An important tool for any business that might need to meet an occasional peak cash crunch.

• Loan period up to 12 months (depending upon the nature of the business)
• Renewals are available with submission of Annual Financial Statements and Tax Returns
• Interest paid monthly on any outstanding balance

Machinery/Equipment Loan
Purchase your new or used equipment for your business.

• Collateral valuation required from an invoice (new) or an outside independent appraisal for used equipment
• Loan will be amortized over the useful life of the equipment (max. of 7 years)
• Insurance is required with a Loss Payable Clause naming Mutual Bank and UCC lien filings

Commercial Real Estate Loans
Granted to business customers on an individual loan request basis.
Loan Features:

• Current qualified outside appraisal required
• Tax and insurance escrows required
• Banking relationship must be established for the required Auto Debit of the monthly loan payment

Hotel/Motel Financing
Financing for both nationally owned chains as well as independently owned properties.

• Loan advances can be up to 75% of the purchase price ao appraised value, which ever is less.
• Independent outside appraisal required

SBA Loans
We can assist you when looking to acquire a business or franchise, purchasing equipment, if you need an infusion of working capital, or are buying real estate your business will occupy.

• Based on cash flow from business
• Longer repayment terms than a conventional loan. Terms from 7 to 25 years with no balloon payments or call options.
• Great option for franchises, hotels/motels, service businesses.
• Helps cover collateral shortfall

Lending to the Not-For-Profit Entities (Religious and Charitable Organizations)
Helps those Not-For-Profit Entities expand and improve their facilities, support their programs and build stronger relationships within their communities.

• Particular attention will be given to pledges and income history
• Audited financial statements prepared by outside accountants should be submitted with the application for the previous three years
• A review of the three-year trend in pledge receipts will be done