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TowneBank

PORTSMOUTH, VA 23703

⭐ SBA Preferred Lender
44
Loans Approved
$41.9M
Total Volume
$951K
Avg Loan Size
2
States Served

States Served

North CarolinaVirginia

Top Industries Financed

  • Full-Service Restaurants
  • Offices of Mental Health Practitioners (except Physicians)
  • Baked Goods Stores
  • Breweries
  • Car Washes

Quick Summary

TowneBank is an SBA-approved lender headquartered in PORTSMOUTH, Virginia. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 44 SBA 7(a) loans totaling $41.9M, with an average loan size of $951K. They serve businesses across 2 states.

About TowneBank

TowneBank is an SBA-approved lender headquartered in PORTSMOUTH, Virginia. Since 2020, they have approved 44 SBA 7(a) loans totaling $41.9M, with an average loan size of $951K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 2 states.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is TowneBank an SBA Preferred Lender?

Yes, TowneBank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.

How many SBA loans has TowneBank approved?

According to SBA FOIA public records, TowneBank has approved 44 SBA 7(a) loans totaling $41.9M since 2020. Their average loan size is $951K.

What states does TowneBank serve?

TowneBank serves businesses in 2 states: North Carolina, Virginia.

How do I apply for an SBA loan with TowneBank?

To apply for an SBA 7(a) loan with TowneBank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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SBA 7(a) loans up to $5M · Rates from 10.5% · As fast as 7 days