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TowneBank

Offering comprehensive SBA lending services, TowneBank specializes in providing small business financing solutions tailored to meet diverse needs. Whether you’re seeking funding for expansion, equipment, or working capital, the bank offers flexible loan options supported by SBA programs. With a focus on personalized service, TowneBank assists entrepreneurs in navigating the complexities of SBA loans, ensuring a smooth application process. Their experienced team understands the nuances of SBA 7(a) loans, providing guidance from application to closing. Located in Portsmouth, VA, the bank serves local businesses while also supporting clients across the region. Their commitment to small business growth is evident in their tailored loan products, competitive rates, and dedicated customer support. TowneBank’s expertise in SBA lending helps entrepreneurs secure the capital they need to thrive and expand their operations.

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Lender Type

Commercial Bank

Google Rating

3.4

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a commercial bank offering SBA lending solutions and small business financing options, including SBA 7(a) loans, to support business growth and expansion.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may be accommodated depending on availability.

Question 3

What are the hours of operation?

Answer 3

Typically, the bank operates from 9:00 AM to 5:00 PM, Monday through Friday, but hours may vary; it"s best to contact them directly for confirmation.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to access their basic services; however, loan application and processing fees may apply depending on the specific financing arrangement.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves small business owners within its regional service area, but eligibility depends on meeting loan criteria and qualification standards.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 640 is generally preferred, though higher scores may improve loan approval chances.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

TowneBank

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