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Locus Bank Inc

RICHMOND, VA 23294

⭐ SBA Preferred Lender
10
Loans Approved
$2.7M
Total Volume
$272K
Avg Loan Size
1
States Served

States Served

Virginia

Top Industries Financed

  • Soap and Other Detergent Manufacturing
  • Wine and Distilled Alcoholic Beverage Merchant Wholesalers
  • Beauty Salons
  • Home Health Care Services
  • Electrical Apparatus and Equipment, Wiring Supplies, and Related Equip

Quick Summary

Locus Bank Inc is an SBA-approved lender headquartered in RICHMOND, Virginia. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 10 SBA 7(a) loans totaling $2.7M, with an average loan size of $272K. They primarily serve Virginia businesses.

About Locus Bank Inc

Locus Bank Inc is an SBA-approved lender headquartered in RICHMOND, Virginia. Since 2020, they have approved 10 SBA 7(a) loans totaling $2.7M, with an average loan size of $272K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in Virginia.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Locus Bank Inc an SBA Preferred Lender?

Yes, Locus Bank Inc 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 Locus Bank Inc approved?

According to SBA FOIA public records, Locus Bank Inc has approved 10 SBA 7(a) loans totaling $2.7M since 2020. Their average loan size is $272K.

What states does Locus Bank Inc serve?

Locus Bank Inc primarily serves businesses in Virginia.

How do I apply for an SBA loan with Locus Bank Inc?

To apply for an SBA 7(a) loan with Locus Bank Inc, 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