Your Trusted SBA Lender in Virginia and North Carolina

Fuel your business growth with SBA loans from Select Bank—your trusted local SBA lender in Virginia and North Carolina. We provide flexible SBA loan options, including SBA 7(a) loans and SBA Express loans, designed to support small business owners with low interest rates, longer repayment terms, and local decision-making. Whether you’re starting a new venture or expanding your current operations, our team of SBA loan experts is here to guide you through the SBA loan application process. Serving businesses across VA and NC, we offer personalized business financing solutions and fast, responsive service to help you succeed.

As a Preferred Lender with PLP status, we’ve partnered with local businesses of varying sizes to provide a multitude of products, services, and support. The loan programs we offer provide many advantages for businesses seeking capital.

What does it mean to have PLP status?

As a Preferred Lender under the SBA’s PLP program, Select Bank can process SBA 7(a) and SBA Express loans faster and with fewer delays. That means quicker approvals, streamlined paperwork, and personalized support from a team that understands small business. Whether you’re looking to start, expand, or refinance your business, our PLP status gives us the authority to make in-house credit decisions—saving you time and helping you secure the funding you need, when you need it. Choose Select Bank for a faster, more responsive SBA loan experience in VA and NC.

Inquire Now

Which SBA Loan is right for you?

SBA 7(a) Loan

SBA 7(a) Loan: The SBA 7(a) loan is the most common SBA loan product, offering flexibility on terms and business uses. An SBA 7(a) loan is a good option for acquisitions, partner buyouts, real estate purchases, refinance and more.

Advantages of SBA 7(a)

Up to 90% bank financing
Fully amortized/no balloons
No pre-payment penalty (with term under 15 years)
Loan amounts up to $5,000,000

SBA 7(a) Small Loan

SBA 7(a) Small Loan: The SBA 7(a) Small Loan is a new SBA loan product, based on the standard 7a Program. It utilizes a credit scoring model which equates to faster turnaround times than traditional 7a lending. An SBA 7(a) Small loan is a good option for equipment, real estate purchases, long-term working capital & business expansion.

Advantages of SBA 7(a) Small

Credit scored product with faster turnaround times
Loans up to $500,000
Up to 90% bank financing
Fully amortized/no balloons
No pre-payment penalty (with term under 15 years)

SBA Express Loan

SBA Express Loan: While the eligibility requirements for an Express loan are nearly the same as for the 7(a) loan program, the approved uses of the loan are different. This product is largely used for lines of credit. The lines can be used for to finance receivables, finance inventory, or finance general working capital purposes.

Advantages of SBA Express

Lines up to $500,000
Lines can be granted with up to a 5 year revolving period
At line maturity, the outstanding line balance will be termed out for a term equal to original revolving period.

Meet Ken, Your SBA Lender

Black and white portrait of Ken Selmer, Vice President and SBA Loan Officer at Select Bank.

Kenneth Selmer | Vice President, SBA Loan Officer

How long have you been in banking?

I have been a Banker for over 28 years in both NJ and VA. I have worked in the SBA arena for 15 years. Before coming to Select Bank, I worked in the Lynchburg area as a community banker, with a focus on small business lending for the last 8 years.

What’s it like being involved in community banking?

Working for a Community Bank is ideal for small business lender. The decisions are made locally for our clients, not sent a state or two away to a corporate office where the applicant’s loan request does not receive the attention it deserves. Working for a Community Bank allows me to get to know the clients and help the communities we serve.

What do you love about working with small businesses?

Small businesses are so important to our local economy as well as our national economy. I love having the opportunity to work with small business owners who are looking to achieve their piece of the “American Dream.” For me, to see their businesses grow and prosper is truly a privilege.

What advice do you have for business owners thinking about getting an SBA loan?

My advice to business owners regarding obtaining an SBA loan is to do your homework and find a lender/ loan officer you feel comfortable with. SBA loans have many nuances and regulations that a seasoned SBA lender can help guide you through. A business needs to be proactive with documentation and any issues that arise during the process. The more proactive a business owner is, the faster the loan can be approved, closed, and your business receive the capital it needs for the project at hand.