Mission Community Bank (MCB) is committed to providing financial support and services to its community by promoting local development and economic vitality. MCB supports small business growth and offers high quality, community-directed banking services. The bank strives for innovation in its individual wealth services and in its efforts to develop and create jobs. In 2005, MCB made 101 micro enterprise loans in addition to its 142 small business loans.
MCB offers personal and business savings and checking accounts, and online e-banking. Certificate of Deposit Account Registry Service (CDARS), allows depositors to place large deposits, over $100,000 into CDs issued by multiple Network banks eligible for full FDIC insurance. MCB has a limit of $25,000 and is the only Bank in San Luis Obispo with this program. We offer loans in the following areas:
- Small Business Administration: As a Preferred SBA lender, we offer 7(A) Guaranty Program, 504 Program, Women and Minority Business Loan Program, Express Program, and CAPLINES.
- Construction: Loans for units that are Owner or Non-Owner Occupied, Commercial or Residential.
- Full Time Farmer Loans: Agricultural mortgage loans for those who derive a significant portion of their income from farming operations.
- Part Time Farmer Loans: Agricultural mortgage loans for farmers and ranchers operating on at least five acres or who generate $5,000 or more sustained annual gross income from crop or livestock sales.
- Leasing: Equipment leases at competitive rates with the additional advantages of capital conservation, fixed payment terms, and p tax savings.
- Agribusiness: Loans for equipment, development, livestock care, and crop production.
MCB's clients are located in San Luis Obispo, Northern Santa Barbara, and Kern Counties in California. Of its 391 loans recipients in 2005, nine percent were Hispanic/Latino, 91 percent were Caucasian, three percent were Asian/Pacific Islanders, one percent each were Native American and African-American, and four percent were mixed ethnicities. Approximately 35 percent of bank clients are women and 21 percent live at or below 80 percent of the area's median income. Twenty percent live in rural regions, and 80 percent live in minor urban areas.
In 2005, through 101 micro-enterprise loans and the 142 small business loans MCB created 204 new full time equivalent jobs and retained 644 full time equivalent jobs.
MCB also provided 104 units of affordable housing through 22 loans totaling $10,907,349.
MCB works closely with other organizations in the area, giving them the financial support that they need to be viable, active members of the community.
Food, shelter and clothing: the world is constantly evolving, bringing new innovations and technologies that never existed before, yet the most basic human needs remain the same. While MCB works diligently to address many tough and complex issues in their community, the bank never loses sight of the fact that, to resolve more multifaceted problems, the people of the community must first have their most fundamental needs met.