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The National Bank of Blacksburg

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Description

The National Bank of Blacksburg offers comprehensive SBA lending services designed to support small businesses in securing vital funding. With a focus on serving local entrepreneurs, the bank provides tailored loan options, including the popular 7(a) program, to help businesses grow, purchase equipment, or expand operations. Their experienced lending team guides clients through the application process, ensuring clarity and support at every step. Located at 100 S Main St in Blacksburg, VA, the bank is committed to fostering economic development within the community. They have a proven track record of approving loans up to $150,700, demonstrating their capacity to handle a range of business financing needs. The bank specializes in industries such as retail, healthcare, manufacturing, and services, making it a versatile partner for diverse business types. Whether you’re starting a new venture or expanding an existing one, they offer personalized solutions to meet your unique requirements. Their dedicated team understands the nuances of SBA programs and works diligently to streamline the approval process, helping clients access funds efficiently and effectively.

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Q&A

Lender Type
Commercial Bank
Google Rating
4
Google Review Count
27
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank offering SBA loan programs designed to support small businesses in the community. You can find assistance with business financing, including loans for expansion, equipment, and working capital, all tailored to your specific needs.
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-in consultations may also be available during business hours. Calling ahead can help you prepare and streamline the process.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to confirm hours before visiting, especially during holidays or special circumstances.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations. Loan application fees and closing costs 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 residents and small business owners within the Blacksburg community and surrounding areas, focusing on local economic development.
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, though other factors may also be considered during the underwriting process.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The typical underwriting process takes approximately 30 to 45 days, depending on the complexity of the loan and completeness of the application.
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