Fuel your business’s success with tailored loan solutions from Select Bank. Whether you need capital for expansion, equipment, or working capital, we offer a wide range of business loans to fit your needs. Our offerings include commercial real estate loans, business term loans, business lines of credit, small business loans, and unsecured small business loans. We also provide specialized financing through SBA Loans and letters of credit. With competitive rates, flexible terms, and expert support, we can help your business thrive. Contact us today to explore the best loan option for your business.
We specialize in 1-4 family commercial real estate loans (for properties such as duplexes). Please inquire for more information.
If you’ve outgrown your business’s current facilities (and want to build something to better suit your needs), we can provide a construction loan to cover the costs associated with building your new facility. Once work is completed, that loan can be converted into a permanent mortgage.
The products and services related to small business loans listed below are provided by StreetShares, Inc. or its affiliates, not Select Bank.
1This is not an offer of credit/ applications subject to individual credit approval in StreetShares’ discretion; standard terms and conditions apply; rates and amounts may vary; various factors impact rates, amounts, and duration of funding available, including credit approval and prior history of loans with StreetShares.
2“Affordable interest rates” refers to StreetShares’ interest rates and fees when compared to the interest rates and fees charged by other online leaders.
We are committed to helping local businesses grow. Our leaders live and work in the communities we serve, and are invested in growing the local economy.
We are proud to provide SBA-backed funding to the businesses in the communities we serve. The Small Business Administration (SBA) serves as the main resource for government-backed business loans. Because a portion of an SBA loan is guaranteed by the government, these loans allow small business owners to obtain capital with less equity than a conventional loan requires.
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)
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
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
How long have you been in banking? Where were you before Select Bank?
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.
Subject to SBA eligibility requirements and both Select Bank & SBA credit approval. Terms and conditions may apply.
