Ivanhoe & MVB, A Match Made in SBA Heaven!
From Left to right (Don Spiert-VP MVB SBA Lending, John Tonjes-President MVB SBA Lending, Dan Bywater-VP MVB SBA Lending, Jamie Lendway-Marketing Director Ivanhoe Capital Advisors, Dom “The Professor” Scorzo-Managing Partner and Lead Underwriter Ivanhoe Capital Advisors)
THE POINT OF CONTACT IS A SALESPERSON WITH A LIMITED KNOWLEDGE BASE
Your point of contact is a salesperson who is going to tell you every deal is a great deal and it looks like something they can get done. The sad fact is that 30% of the time they are going to waste you, your client’s, and the borrower’s time and money on a deal that should not have been proposed in the first place.
POINT OF CONTACT HAS 20+ YEAR EXTENSIVE UNDERWRITING BACKGROUND
With MVB Bank your point of contact has an extensive credit background with over 20 years of underwriting loans and once we are provided with enough financial information to calculate cash flow and pull a credit report you will receive a proposal that is a reliable indication of the outcome usually within 24 hours.
PROPOSALS ARE NOT WORTH THE PAPER THEY ARE WRITTEN ON
Their proposals are sometimes not worth the paper they are written on. They skim through the file and issue you a term sheet based on minimal underwriting. What happens then, is something that should have been easily detected right at the beginning gets overlooked. Then weeks later it is found and the deal goes sideways and everyone ends up with egg on their face!
At MVB Bank we will issue you a rock-solid proposal from the beginning because we do an extensive analysis on the file right away so there are no surprises down the road. Our Proposals are nearly as strong as a commitment because our approval rating once a proposal has been issued is very high!
LEAD YOU ON…
Sometimes they will lead you to believe they can get a deal done when they can’t. Then they waste all this time working on a deal that is going to go nowhere anyway. Most of the time it is because they don’t know any better.
STRAIGHT FORWARD AND TO THE POINT RIGHT AWAY
At MVB Bank we don’t play around! We will tell you right away we can’t do the deal if we can’t. We believe a fast “NO” is always better than a slow “Maybe”. Also, we will put together an analysis in writing on how we see the deal closing and what further information we will need in order to close. This is so critical to know up-front.
YOU’RE JUST A NUMBER IN THE SYSTEM
You are just a number in their system and the borrower is on their own for the most part. When this happens mistakes are made by the borrower that can’t be undone. This could result in disaster.
HOLD YOUR CLIENT’S HAND THROUGH THE ENTIRE PROCESS
At MVB Bank we have contracted Ivanhoe Capital Advisors who have over 60 years of combined experience in underwriting these types of loans and will hold your clients' hands from first contact till closing so deals run smoothly.
CHERRY PICK INDUSTRIES
They might cherry-pick and only do certain industries they feel are a fit for them.
OPEN TO PRACTICALLY ALL INDUSTRIES
MVB Bank has pretty much funded every industry out there and won’t discriminate based on the industry type.
Here is a list below of just some of the industries we have funded:
- MEDICAL PRACTICES
- TRUCK ROUTES
- GAS STATIONS
- LANDSCAPE COMPANIES
- POOL SERVICES
- TREE SERVICES
- PARKING LOTS
- HEALTH CARE
- TRADE BUSINESSES
- AUTO REPAIR
- CAR WASHES
- DISTRIBUTION COMPANIES
- AND MANY MORE
Chicago, IL 60634
Crystal Lake, IL 60012
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