OAK VIEW NATIONAL BANK RECEIVES U. S. SMALL BUSINESS ADMINISTRATION LENDING APPROVAL
Warrenton, VA (April 19, 2010) – Michael A. Ewing, President and CEO of Oak View National Bank, is pleased to announce that the bank is now an approved U. S. Small Business Administration (SBA) Lender.
A key piece of the bank’s small business lending focus, the SBA programs now available include the 7(a) Loan Program (both SBA Express and Patriot Express) and the Certified Development Company CDC/504 Program. “Each of these programs is a vital component of Oak View National Bank’s plan to help existing small businesses in our community,” said Kevin A. Lee, Senior Executive Vice President and Chief Lending Officer. “Our lending staff is excited to partner with the SBA and our clients with these programs.”
On April 16, 2010, new legislation was signed providing $80 million in additional funding to continue important enhancements in the SBA’s 7(a) and 504 programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and small business fee relief. The SBA estimates the $80 million will support about $2.8 billion in small business lending under the 7(a) and 504 programs.
For more information on these programs with Oak View National Bank, please contact Mr. Lee at (540) 359-7152, email@example.com, or visit the bank’s website at www.oakviewbank.com.
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