Total Percentage of Small Business Lending
Monday February 27, 2012
mobank is known as a bank that’s committed to lending money to local entrepreneurs and business owners. In fact, there are independent, national ratings that place mobank in the top 3 percent of all banks in the country in terms of the percentage of deposits loaned to small businesses. MultiFunding Report Card shows mobank lending 54.4 percent of its deposits to small businesses.
However, the percentage of loans from deposits doesn’t reveal the entire story. When you include a full spectrum of lending scenarios, and figure mobank’s total percentage of all loans that go to local business owners, the percentage rises to 80 to 90 percent.
“We take a more holistic approach and work closely with our business customers to provide a variety of lending options to support their businesses,” said President and CEO Grant Burcham. “One example could include a home equity loan to pursue an entrepreneurial dream.”
“We are committed to understand and support our customers,” added Burcham. “We loan money to people we know, people who own local businesses. We do business with them, and our customers do business with them. It’s a strong network.”
For mobank, the support goes beyond sharing the financial risk. Many of its loan officers have small business experience and can provide counsel and support along the way.
“Business owners work hard and they don’t give up,” Burcham said. “They are adding jobs and keeping our local community strong. And that’s where we want our money to stay, working right here at home and supporting them.”
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