Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Fuel your business growth with SBA Loans from Select Bank, your trusted local partner for small business financing across Virginia and North Carolina. Our SBA loan solutions are built with flexible terms, low rates, and local decisions, giving business owners access to capital without unnecessary delays or red tape.
From SBA 7(a) and SBA Express options to tailored financing for expansion, acquisition, or working capital, our team provides expert support at every step of the process. You’ll work directly with experienced lenders who understand your market and your goals—ensuring a smooth application experience and financing that fits your business.
As a Preferred Lender with PLP status, Select Bank offers streamlined approvals and personalized service, partnering with businesses of all sizes to deliver practical, growth-focused lending solutions. When you need reliable capital backed by local expertise, our SBA Loans are designed to help your business move forward with confidence.
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.
The SBA 7(a) loan is the most common SBA loan product, offering flexible terms and various 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)
The SBA 7(a) Small Loan is a streamlined version of the traditional SBA 7(a) loan, designed to make borrowing simpler and faster for small businesses. It uses a credit-scoring approach that allows for quicker decisions compared to standard SBA loans, so you can get answers sooner.
This type of SBA loan is a great option for purchasing equipment, buying or improving real estate, covering long-term working capital needs, or funding business growth and expansion. If you’re looking for flexible small business financing with faster turnaround times, the SBA 7(a) Small Loan offers a practical and accessible solution.
Advantages of SBA 7(a) Small
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
How long have you been in banking?
I have been a Banker for over 32 years in both NJ and VA. I have worked in the SBA arena for 17 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.
Subject to SBA eligibility requirements and both Select Bank & SBA credit approval. Terms and conditions may apply.