Small Business Loans Virginia


According to a recent SBA report, 85 percent of the 100, 000-plus individual loans in Virginia were less than $150,000 apiece. While the details aren’t public, it’s worth noting that specific business names weren’t disclosed, putting personal information at risk. Moreover, the data did reveal that several national franchise operators got top dollar loans. In Virginia Beach, Burgerbusters, Inc. is claiming to be the 5th largest Taco Bell franchise operation in the U.S., employing more than 4,200 people.

Bendigo Bank

With more than six hundred thousand small businesses and low business regulations, Virginia is a prime location for small businesses. Small business owners can utilize a secured loan from Bendigo Bank Virginia to pay bills, purchase new equipment, or hire additional employees. To secure a loan, you will need to provide your business with a business plan. Bendigo Bank Virginia can help you find the best lending options, including local and online lenders.

UVA Community Credit Union

If you’re interested in starting a new business, UVA Community Credit Union can help. They offer competitive rates and terms on a variety of business loans, including commercial real estate loans. And if you need construction financing, UVA Community Credit Union can provide that too. In addition to providing business loans, they can also provide other types of financing to expand your business. Through its mortgage lending subsidiary, Member Options LLC, UVA Community Credit Union can provide the capital you need to acquire a new property, expand your existing business, or leverage existing equipment.

UVA Community Credit Union recently appointed a Chief Lending Officer who reports to the CEO. Her duties include supporting the strategic direction of business and real estate lending. The credit union also partnered with the nonprofit organization SunDay Solar to donate solar panels to a local church. Throughout the years, DeTuncq has volunteered her time and expertise to help local communities. She is involved in a number of volunteer organizations and has served on the boards of several credit unions.

Atlantic Union Bank

Many businesses in Virginia need financing for various purposes. According to the U.S. Small Business Administration, there are approximately 746,000 small businesses operating in the state. Small businesses in Virginia employ 1.5 million people. To make the most of this booming business environment, businesses need to start planning now for the upcoming tourist season. Small businesses in the accommodation, food service, and retail industries employ many people. In order to meet the requirements, applicants must meet the bank’s requirements for business financing.

To begin the application process, you must have a minimum balance of $25. Once approved, the bank will send you a letter stating the minimum amount that you must deposit to open an account. Once approved, you will need to fill out an application and submit it to the lender. Once approved, you will need to provide collateral, including business and personal loans, to secure the loan. If you do not meet the minimum amount, you can always apply for a larger business loan from another institution.

Economic Development Loan Fund

There are numerous small business financing options in Virginia. You can apply for an Economic Development Loan Fund for Virginia businesses, or you can apply for a Federal Disaster Loan. The Small Business Administration has more information, such as the Small Business Owners Guide to the CARES Act, available for download in PDF format. You can also find information about unemployment benefits and other small business programs in the Office of Economic Development. The state has won awards for entrepreneurship, including Best Place to Retire and Best Place to Start a Business.

The Economic Development Loan Fund for Virginia is designed to bridge the funding gap between a bank loan and private equity. The VSBFA can be a subordinate lender to the bank and offer more flexible terms. In many cases, you can qualify for both loans at the same time. Small businesses should carefully consider both financing options before deciding which to pursue. Virginia has a long history of fostering small businesses and is eager to support the economy.