Leveraging solutions from a premier technology partner, Numerated, we’ve streamlined the borrowing experience for our small business customers through Lightning Lending, our new digital lending platform. Lightning Lending is more than an online lending portal: it creates unparalleled efficiencies, digitizing loan application processes that are easy, convenient, and fast. In addition, the tool taps into Numerated’s leading industry expertise as the driving power behind Lightning Lending’s unique capabilities.

Loan applications made easy

Through Lightning Lending, business customers can potentially reduce their loan application-to-approval of funding timeline from weeks to within 48 hours.

Integrated with the required criteria for many business loan products, it can pre-populate applications with known data and automate spreadsheets and document package preparation. With so much time saved, business customers have more time to devote to completing their long list of to-dos.

Lightning Lending brings funding to business customers’ fingertips

Lightning Lending features an intuitive user interface for accessible, seamless self-service from mobile, tablet, or computer. Customers can apply independently, and the automated application allows for a more reasonable process based on reducing the need to await loan servicing and documentation team coordination. FVCbank’s team is always available throughout the process should customers desire a banker-led experience.

Lightning Lending’s ideal applicants are small businesses seeking lines of credit, funding for equipment, and auto loans under $500,000.

Partnerships with cutting-edge technology firms benefit customers

FVCbank’s partnership with Numerated adds to its growing roster of tools using innovative financial technology to enhance customer service. Over 400,000 businesses have already tapped into the power of Numerated’s platform, making it one of Inc. 5000’s fastest-growing fintech companies in 2022.

Explore Lightning Lending today! Contact FVCbank’s business banking specialists online or over the phone at (703) 436-4740 for more information.

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As a member of the IntraFi Network, we can provide complete FDIC insurance protection on large deposits through both CDARS and ICS, and customers can enjoy the convenience of working directly with FVCbank.

Download to learn more about these services and how they can help you achieve your investment goals while protecting your principal.

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The Company first made the list in 2020 and was the only Virginia-headquartered bank to receive the honor in 2022.

“It’s truly an honor to get named as an all-star financial institution again by Piper Sandler,” said David Pijor, Chairman and CEO of FVCBankcorp, Inc. “We’re thrilled to receive the placement for the second time recognizing the strength and profitability of our institution. We feel it’s a badge that showcases our commitment to delivering for our customers with our high performance.”

Piper Sandler, a leading middle-market investment bank and institutional securities firm, publishes an annual list of the best-performing American small-market institutions. For its 2022 list, companies had to have a market cap below $2.5 billion and meet several performance hurdles related to profitability, credit quality, capital strength, and growth, including outperforming industry medians in return on average equity and deposit, loan, and earnings per share growth.

About FVCBankcorp, Inc.

FVCBankcorp, Inc. is the holding company for FVCbank, a wholly-owned subsidiary that commenced operations in November 2007. FVCbank is a $2.31 billion asset-sized Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, professional service entities, their owners and employees located in the greater Baltimore and Washington D.C., metropolitan areas. FVCbank is based in Fairfax, Virginia, and has 9 full-service offices in Arlington, Fairfax, Manassas, Reston and Springfield, Virginia, Washington D.C., and Baltimore, Bethesda, and Rockville, Maryland.

For more information on the Company’s selected financial information, please visit the Investor Relations page of FVCBankcorp, Inc.’s website, www.fvcbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220928006053/en/

For further information, contact:
David W. Pijor, Chairman and Chief Executive Officer
Phone: (703) 436-3802
Email: dpijor@fvcbank.com

Patricia A. Ferrick, President
Phone: (703) 436-3822
Email: pferrick@fvcbank.com

Source: FVCBankcorp, Inc.

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Founded in 2010, Veterans Moving Forward, Inc is a 501(c)(3) nonprofit organization headquartered in Dulles, Virginia. For over a decade, the mental health and wellness-driven Veterans organization has provided free-of-cost service dogs for military professionals with physical and/or mental health challenges. Determined to make a positive difference in the lives of those who have fought for our country, Veterans Moving Forward works toward bringing independence back to their lives by providing our Veterans with a service canine that not only helps address their disability but also may just be the companion many of them have been missing.

The services provided by Veterans Moving Forward are available to all US veterans regardless of age or location within The United States. With an inspiring vision to be a leading source of service dogs and canine therapy services focusing on physical or mental health challenges, FVCbank is proud to award the 2021 L. Burwell Gunn Award to Veterans Moving Forward.

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What do I need to be eligible for a PPP loan in the new round?

• Demonstrate at least a 25% reduction in gross receipts (to be defined by SBA) in any quarter of 2020 relative to the same quarter in 2019
• Employ fewer than 300 employees per physical location
• Demonstrate that you have used or will use the full amount of your first PPP loan
• A business that was not in operation on February 15, 2020 shall not be eligible for an initial PPP loan and a second draw PPP loan

What else has changed?

• Borrowers in industries assigned to NAICS Code 72 are entitled to receive loans up to 3.5x their average monthly payroll costs, during the year prior to the loan or the previous calendar
• Expenses allowable and forgivable are expanded to include certain payments for software, cloud computing expenses, property damage, supplier costs, and worker protection
• Forgiveness has gotten much easier: a simplified one-page application process for loans under $150,000

Paycheck Protection Program, 2nd Round – Frequently Asked Questions:

1) I already received one PPP loan. Can I apply for a second loan?

Yes, under borrowers that previously received a PPP loan can apply for a second loan if they meet certain eligibility criteria. For example, borrowers applying for a second PPP loan must have 300 or few employees. For companies applying for a second PPP loan, the maximum loan amount is $2 million. Businesses applying for a second PPP loan will have to demonstrate at least a 25 percent reduction in revenue between corresponding quarters in 2019 and 2020.

2) What can PPP loan funds be used for?

• Payroll costs, including compensation, employee benefits, and employer-paid taxes
• Rent or lease payments
• Mortgage interest payments
• Utilities
• Personal protective equipment (PPE) and facilities updates to operate safely during the COVID-19 pandemic
• Software or cloud computing costs for business operations
• Costs related to property damage and vandalism or looting due to public disturbances not covered by insurance or other compensation
• Costs of the supply of goods that are essential to business operations
• Covered worker protection expenditures that help adapt business activities to COVID safety requirements

3) Who is it best for?

Businesses applying for their first PPP loan must have 500 employees or fewer to be eligible. Previous PPP loan recipients with less than 300 employees can also qualify if they have more than a 25% drop in revenue quarter over quarter from the previous year. If you are applying for your second PPP loan, you will need to have used the full amount of funds from your first PPP loan before your second is disbursed.

4) How much can I borrow?

Eligible businesses will be able to apply for PPP loans with ApplyforPPP.com from $10,000 up to $2 million. Our streamlined application will even help you calculate the allowable loan amount for your business based on your payroll information.

5) What are the loan terms?

PPP loans are 100% federally guaranteed and have a low interest rate of 1.00%. There is no collateral required. It is anticipated that, like in the earlier rounds of PPP, no repayment will be necessary for the first six to eight months. As long as the funds are used as designated, for eligible borrowers all or a portion of the PPP loan can be forgiven.

6) I haven’t applied for forgiveness on my first loan yet. Can I apply for a second loan?

Yes, borrowers that meet eligibility criteria for a second loan can apply for a second loan before applying for forgiveness for their first PPP loan. However, borrowers must have spent all proceeds from their first PPP loan prior to disbursement of the second loan.

7) I didn’t apply for a loan earlier in 2020. Can I apply for a PPP loan now?

Yes, PPP loans are available for both first- and second-time borrowers.

8) What documents do I need to begin to gather?

• 2019 Tax Return and Employment Tax Form
• S Corporation: Form 1120S and Form 941 (4 quarters)
• C Corporation: Form 1120 and Form 941 (4 quarters)
• LLC / Partnership: Form 1065 and Form 941 (4 quarters)
• Sole Proprietor or Independent Contractor: Form 1050 Schedule
• Non-profit: Form 990 and Form 941 (4 quarters) or 944
• Voided Check
• Driver’s License or Other Form of Identification

9) What can I expect when I apply?

Our borrower-friendly application makes it simple for you to input your information and upload the required documentation. You can also save and access your application at a later time via your secure link and PIN.

10) What about loan forgiveness?

When you’re ready to apply for loan forgiveness, our integrated application allows you to use your securely stored financial information to ensure fast turnaround.

11) Do I calculate my revenue based on cash or accrual basis accounting?

Revenue will most likely be determined by cash accounting. The legislation clearly states “gross receipts”. The SBA will confirm this by January 6th.

12) Does my first PPP loan count as revenue in the quarter I received it?

No. The PPP loan would appear on your balance sheet and not count as income in the quarter received.

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FAIRFAX, Va. — FVCBankcorp, Inc. (NASDAQ:FVCB) (the “Company”) today proudly celebrates its inclusion in the Piper Sandler Sm-All Stars list. In making Piper Sandler’s Class of 2020 Sm-All Stars list of 35 member companies, the Company joins the ranks of banks and thrifts around the country identified as top performing, high-quality small-cap companies.

Piper Sandler, a leading middle-market investment bank and institutional securities firm, publishes an annual list of the best-performing American small-market institutions. The Company made the list for the first time along with 12 other new arrivals and is one of only three institutions representing the Virginia and Maryland markets. For its 2020 list, Piper Sandler considered nearly 400 institutions traded on a major exchange and with a market cap below $2.5 billion, ultimately selecting only 35 that it deemed ‘Sm-All Star’ members.

FVCBankcorp, Inc. earned Sm-All Star status by meeting a multitude of considerations including growth, profitability, credit quality and capital strength, and out-performed industry averages for Earnings Per Share (EPS) growth, loan growth, deposit growth and Return on Average Equity (ROAE).

“We are honored and thrilled to make this exclusive list of top-performing financial institutions,” said David Pijor, Chairman and CEO. “We know careful analysis goes into compiling this list, so it is a real recognition of the incredible strength of our recent growth and health of our current position. This honor is also a testament to our team’s deliberate, focused and collaborative approach to outperforming on behalf of our customers.”

About FVCBankcorp, Inc.

FVCBankcorp, Inc. is the holding company for FVCbank, a wholly-owned subsidiary that commenced operations in November 2007. FVCbank is a $1.78 billion asset-sized Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, professional service entities, their owners and employees located in the greater Baltimore and Washington D.C., metropolitan areas. FVCbank is based in Fairfax, Virginia, and has 11 full-service offices in Arlington, Ashburn, Fairfax, Manassas, Reston and Springfield, Virginia, Washington D.C., and Baltimore, Bethesda, Rockville and Silver Spring, Maryland.

For more information on the Company’s selected financial information, please visit the Investor Relations page of FVCBankcorp, Inc.’s website,　www.fvcbank.com.

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Kids R First is a volunteer-based foundation dedicated to the education and assistance of children coming from families of limited financial means. They are able to assist these children by providing the needed school supplies for students who may not have access to them in hopes of making sure every child receives the same quality of education and opportunities as their friends and peers.

The model Kids R First operates under is unlike any other. It allows the organization to curate and provide customized orders for school supplies based on individual grade levels at schools that have partnered with the Reston based operation. Most importantly, due to the fact that this is a volunteer-based organization, every dollar donated is used almost exclusively for needed supplies that are critical for children in a specific grade. Kids R First realizes the type of supplies needed by an elementary school student is far different than the needs of a high school student. Knowing these differences they are able to separate and allocate supplies so they are used in the most efficient way possible. Due to their tenure and progressive model they have been able to meet the needs of and assist hundreds of schools and have helped millions of children in the process.

Congratulations to Kids R First and thank you to everyone who plays a role in this inspiring foundation. FVCbank is proud to present the 2020 L Burwell Gunn Citizenship Award and donation to such a selfless and driven group of people.

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The list is curated by ranking the number of and size of commercial and industrial loans throughout 2019. The list ranks these various institutions from 1 to 25 with 1 being the largest Commercial Lender in the DC Metropolitan Area and 25 being the smallest lender. FVCbank was ranked 14th on this list with our Commercial and Industrial Loans in 2019 being estimated at approximately $101.17 million and our Real Estate Loans being estimated at approximately $1.15 billion.

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