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Central Virginia Federal Credit Union

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Description

Central Virginia Federal Credit Union offers a range of SBA lending solutions tailored to small businesses seeking financial support for growth, equipment, or operational needs. With a focus on community-oriented banking, it provides personalized service and flexible loan options to meet diverse business requirements. The institution specializes in SBA 7(a) loans, which are ideal for working capital, real estate, and equipment financing. Their team assists clients through every step of the application process, ensuring clarity and support. They are committed to fostering local economic development by providing accessible funding options. Whether you’re a startup or an established business, they aim to deliver timely and competitive financing solutions to help you succeed. The credit union’s expertise in SBA programs makes it a reliable partner for small business owners looking for trusted financial guidance and support.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.2
Google Review Count
34
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused financial institution offering SBA loans and banking services designed to support small businesses in the Lynchburg area and beyond. You can find personalized financial solutions, expert guidance, and access to SBA programs to help your business grow and succeed.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability. Contact the branch ahead of your visit for the best experience.
Question 3
What are the hours of operation?
Answer 3
The branch typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to call ahead for specific hours or to confirm availability for meetings outside regular hours.
Question 4
Is there a fee to use this?
Answer 4
There are no fees to open an account or visit the branch. Loan-related fees, such as guarantee or closing costs, are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This credit union primarily serves members of the community who meet membership criteria, including residents of the Lynchburg area and affiliated groups. Membership eligibility is required to access their financial services.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally recommended for loan consideration, though other factors are also evaluated during underwriting.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and the complexity of the loan request.
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