Freedom Bank Receives Preferred Lender Status for SBA's 7(a) Working Capital Pilot Program

Rhea-AI Summary

Freedom Financial Holdings (OTCQX: FDVA) announced that Freedom Bank of Virginia has received Preferred Lender (PLP) status for the SBA's 7(a) Working Capital Pilot (WCP) program. This designation allows the bank to offer monitored working capital lines of credit up to $5 million, structured as asset-based or transaction-based facilities, to support small business growth.

Positive

• Awarded SBA 7(a) Working Capital Pilot Preferred Lender status
• Can provide monitored working capital lines of credit up to $5 million
• Flexibility to structure credit as asset-based or transaction-based lending
• Positioned as one of the few providers of this unique SBA program nationwide

Negative

• None.

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Northern Virginia Community Bank Strengthens Its Role as a Trusted Partner Dedicated to Fueling Small Business Growth

FAIRFAX, Va., May 18, 2026 /PRNewswire/ -- Freedom Financial Holdings, Inc. (OTCQX: FDVA) announced Freedom Bank of Virginia obtained Preferred Lender (PLP) status for the U.S. Small Business Administration's (SBA) 7(a) Working Capital Pilot (WCP) program, a premier initiative designed to provide flexible, efficient, and affordable working capital solutions to small businesses.

The 7(a) WCP offers monitored lines of credit that support a wide range of financing needs for growing businesses. With innovative features such as transaction-based lending, asset-based borrowing, and a new annual fee structure, the program allows businesses to access capital precisely when they need it.

"Freedom Bank has a long-standing commitment to helping small businesses thrive," said Joe Thomas, President & CEO of Freedom Bank. "Our participation in the 7(a) Working Capital Pilot program positions us to provide new and current small business clients with even more flexible and timely financing solutions. We understand the challenges of managing working capital, and this program, combined with our experienced lending team's deep knowledge of the local business community, enables us to meet those needs quickly and effectively."

With the flexibility to issue lines of credit of up to $5 million structured as either asset-based supported by A/R and/or inventory or as transaction-based for single or multiple projects supported by purchase orders and/or contracts, the program enables small businesses to access funding earlier in their sales cycles, leverage their receivables and inventory, and take on transformational opportunities with the confidence that they can cover the related costs.

"Freedom Bank is thrilled to be one of the few providers of this unique program in the country to have received Preferred Lender status. By participating in the 7(a) WCP program, we continue to strengthen our role as a trusted partner for small businesses, helping them grow, innovate, and compete in today's dynamic economy," said Mark Ingram, Senior Vice President and Small Business Team Lead at Freedom Bank.

Businesses who are interested in learning more about the 7(a) Working Capital Pilot program and if it is a fit for them are encouraged to contact Freedom Bank's Small Business Lending team by visiting www.freedom.bank/sba-lending.

About Freedom Bank

The Freedom Bank of Virginia is a next-generation community bank focused on empowering clients to achieve their dreams through innovative business, commercial, personal, and mortgage banking solutions. Through its deep banker expertise and entrepreneurial DNA, exceptional service, and easy-to-use technology, Freedom Bank is built to be its clients' primary relationship bank. Freedom Bank has locations in Chantilly, Fairfax, Manassas, Reston, Tysons, and Vienna, and is headquartered in Fairfax, VA with corporate offices in Tysons, VA. To learn more, visit www.freedom.bank.

Contact:

Joseph J. Thomas
President & Chief Executive Officer
Phone: 703-667-4161
Email: jthomas@freedom.bank

View original content to download multimedia:https://www.prnewswire.com/news-releases/freedom-bank-receives-preferred-lender-status-for-sbas-7a-working-capital-pilot-program-302773683.html

SOURCE The Freedom Bank of Virginia

FAQ

What did Freedom Bank (OTCQX: FDVA) announce on May 18, 2026 about the SBA 7(a) WCP program?

Freedom Bank announced it received Preferred Lender (PLP) status for the SBA’s 7(a) Working Capital Pilot program. According to Freedom Bank, this status lets it offer flexible, monitored working capital lines of credit to support a wide range of small business financing needs.

What is the SBA 7(a) Working Capital Pilot program that Freedom Bank (FDVA) now offers?

The SBA 7(a) Working Capital Pilot program provides monitored lines of credit for small businesses’ working capital needs. According to Freedom Bank, it features transaction-based lending, asset-based borrowing, and a new annual fee structure to give businesses access to capital when needed.

How much can small businesses borrow through Freedom Bank’s SBA 7(a) Working Capital Pilot lines of credit?

Small businesses can access lines of credit of up to $5 million through Freedom Bank under the SBA 7(a) WCP. According to Freedom Bank, these lines may be structured as asset-based facilities supported by receivables and inventory or as transaction-based financing.

How does Freedom Bank’s SBA 7(a) WCP Preferred Lender status benefit small business clients?

Preferred Lender status is intended to streamline approvals and enhance flexibility for borrowers. According to Freedom Bank, this helps deliver more timely financing solutions, enabling clients to access funds earlier in their sales cycles and pursue growth opportunities with greater confidence.

What types of financing structures are available under Freedom Bank’s SBA 7(a) WCP offerings?

Freedom Bank can structure SBA 7(a) WCP lines as asset-based or transaction-based credit. According to Freedom Bank, asset-based lines are supported by receivables and inventory, while transaction-based lines support single or multiple projects backed by purchase orders or contracts.

How can businesses contact Freedom Bank to apply for the SBA 7(a) Working Capital Pilot program?

Businesses can reach Freedom Bank’s Small Business Lending team through its SBA lending webpage. According to Freedom Bank, interested companies should visit www.freedom.bank/sba-lending to learn more about the 7(a) Working Capital Pilot program and assess whether it fits their financing needs.