Press Releases

HOPEWELL VALLEY COMMUNITY BANK
PRESS RELEASE

HOPEWELL VALLEY COMMUNITY BANK OBTAINS SBA PREFERRED LENDER DESIGNATION

PLP WILL IMPROVE SPEED, EASE, AND DELIVERY OF SBA LOANS


Hopewell Township, New Jersey – June 7, 2005 – Hopewell Valley Community Bank (PinkSheets - HWDY), HVCBank today announced it has achieved Preferred Lender Participant (PLP) status with the U.S. Small Business Administration. “Small business has the highest potential for growth of any sector of the economy, yet small firms often don’t have the credit history or collateral to qualify for a business loan through normal lending channels,” according to Richard Koenig, Executive Vice President and Senior Lending Officer of Hopewell Valley Community Bank. “Many times,” according to Koenig, “a small business cannot access the kind of capital they need, at rates and terms that are competitive. Now, with our preferred lending status, small businesses can access such loans more quickly at HVCBank.”

"Receiving this designation validates the commitment HVCBank has made to the business community and our SBA lending program”, said James Hyman, President and CEO. “Building the very best SBA department possible is an important objective for HVCBank. It represents a commitment to the small-to-mid-sized businesses and professionals whom we serve.”

The Preferred Lender Program is open only to lenders who have demonstrated capability and commitment to small business lending, and who strictly adhere to the SBA lending guidelines provide by the U. S. Small Business Administration. Preferred Lender Status is the highest designation granted to a lender and allows HVCBank to approve loans on behalf of the SBA. This authority results in faster loan approval and speeds the process of getting funds into the hands of small businesses seeking growth capital. The simplification of the process provided via preferred lender status provides HVCBank with a competitive advantage as most borrowers are looking to obtain their funding as quickly as possible.

The SBA offers several financing programs for small businesses that are administered through HVC Bank, including commercial real estate purchases, construction loans, business acquisition or expansion funding, equipment/inventory purchase or refinance, and working capital. With up to 25-year, fully-amortized terms, and up to 90% loan-to-value, no balloon payments, and quick approval for qualified buyers, SBA loans through HVCBank make it possible for small businesses to qualify for financing to secure the assets they require to grow.

Companies interested in finding out if an SBA loan is the right choice for their business should contact Hopewell Valley Community Bank at 609-466-2900.

Hopewell Valley Community Bank is a locally owned and managed full service, FDIC insured commercial bank. Founded in 1998, HVCBank provides a friendly, personalized banking experience for residents and small business owners through its three branch banking offices in Hopewell, Pennington, and Hamilton, a loan production office in Cranbury, and through its fully interactive website at www.hvcbonline.com.