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New Horizon Bank, National Association

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Description

Offering comprehensive SBA lending services, this financial institution specializes in providing small business loans, including the popular 7(a) program, to support entrepreneurs and business owners. Located in Powhatan, VA, it serves clients seeking funding for various needs such as working capital, equipment purchases, or expansion projects. The bank is equipped to handle loan amounts up to $30,000, making it accessible for small-scale ventures and startups. With a focus on SBA programs, it offers tailored financial solutions designed to meet the unique needs of small businesses. Its experienced lending team guides clients through the application process, ensuring clarity and support at every step. The bank’s commitment to small business growth is reflected in its flexible loan options, competitive rates, and personalized service. Whether you’re a new startup or an established enterprise, this lender provides the resources and expertise to help your business succeed and grow within the community and beyond.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.7
Google Review Count
15
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA lending programs designed to support small businesses. You can find information about loan options, application processes, and personalized financial services tailored to entrepreneurs" needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, though walk-in visits may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The typical hours are Monday through Friday, 9 am to 5 pm, but it"s best to call ahead for specific hours or to schedule an appointment.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for visiting or consulting; however, loan application fees and closing costs may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small business owners and entrepreneurs within the region, but eligibility depends on meeting specific loan criteria.
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 preferred, but other factors are also considered during the approval process.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The process typically takes between 30 to 60 days, depending on the completeness of the application and the complexity of the loan.
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