BCT’s office will be managed by Teri Tosti, Senior Vice President and Commercial Lender, offering commercial lending services both through SBA programs as well as traditional commercial options.
“Opening our newest LPO in Fredericksburg is a great opportunity and fits perfectly with our strategic initiatives,” stated Alice P. Frazier, President and CEO. “Having Teri situated in such close proximity to UMW’s Center for Economic Development and REDCO lends itself to a unique synergy that will benefit local businesses when they need it most.”
Ms. Tosti will oversee the office’s operations. She recently joined BCT along with a team of SBA and commercial lenders including Michelle Douglas, Senior Vice President, SBA Program Manager, and Kate Ryan, Assistant Vice President and Commercial Relationship Manager. Douglas and Ryan will be working mostly through other BCT offices but will also support the Fredericksburg LPO. Prior to joining BCT, Ms. Tosti worked in a similar capacity with Sonabank in Fredericksburg. She has over 23 years of banking experience, mostly in traditional and SBA commercial lending.
In addition to providing businesses with financing options, Ms. Tosti offers educational workshops about business capital requirements and sound financing principles. These workshops are offered through a partnership with UMW’s Center for Economic Development and the EDC as well as other local business support organizations like Boots2Business for retiring veterans. One helpful aspect of the workshop is explaining SBA 7(a) and 504 federal programs and providing personal assistance during the application and funding process of those programs.
The Fredericksburg LPO is open Monday through Friday, 9:00 a.m. to 5:00 p.m.