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County20th of 130 in Virginia by approvalsFIPS 51003
SBA loans in Albemarle County, Virginia
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Albemarle County, Virginia, received 61 SBA loan approvals worth $25.6M in FY2021 to FY2025 (54 7(a), 7 504).
That is 20.6 approvals per 1,000 business establishments (2,963 establishments in 2023), below the Virginia figure of 27.9 and below the national 41.0.
It ranks 20th of 130 Virginia counties with approvals. In FY2025 there were 29, up 142% on FY2024.
28 lenders had approvals here; the most active were The Huntington National Bank (8), Northeast Bank (5) and Virginia National Bank (4). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Albemarle County
By number of approvals to businesses in the county, FY2021–FY2025; 28 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 8 | $2.6M | 13.1% | |
| 2 | Northeast BankLewiston, ME | 5 | $875K | 8.2% | |
| 3 | Virginia National BankCharlottesville, VA | 4 | $583K | 6.6% | |
| 4 | Wells Fargo Bank National AssociationSioux Falls, SD | 4 | $547K | 6.6% | |
| 5 | University of Virginia Community Credit Union IncCharlottesville, VA | 4 | $154K | 6.6% | |
| 6 | Business Finance Group, Inc.Fairfax, VA · CDC | 3 | $2.1M | 4.9% | |
| 7 | Atlantic Union BankRichmond, VA | 3 | $918K | 4.9% | |
| 8 | 504 Capital CorporationChesapeake, VA · CDC | 2 | — | 3.3% | |
| 9 | Blue Ridge Bank National AssociationMartinsville, VA | 2 | — | 3.3% | |
| 10 | HomeTrust BankAsheville, NC | 2 | — | 3.3% | |
| 11 | Rappahannock Economic Development CorporationFredericksburg, VA · CDC | 2 | — | 3.3% | |
| 12 | Newtek Bank, National AssociationMiami, FL | 2 | — | 3.3% | |
| 13 | Five Star BankRancho Cordova, CA | 2 | — | 3.3% | |
| 14 | Manufacturers and Traders Trust CompanyBuffalo, NY | 2 | — | 3.3% | |
| 15 | First-Citizens Bank & Trust CompanyRaleigh, NC | 2 | — | 3.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 5 | 8.2% | |
| 2 | Sporting Goods, Hobby, and Musical Instrument RetailersNAICS 4591 | 5 | 8.2% | |
| 3 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 4 | 6.6% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 4 | 6.6% | |
| 5 | Taxi and Limousine ServiceNAICS 4853 | 4 | 6.6% | |
| 6 | Traveler AccommodationNAICS 7211 | 3 | 4.9% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 4.9% | |
| 8 | Offices of PhysiciansNAICS 6211 | 3 | 4.9% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 3 | 4.9% | |
| 10 | Gasoline StationsNAICS 4471 | 2 | 3.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 11 | 18.0% | |
| 2 | Professional, Scientific, and Technical Services | 9 | 14.8% | |
| 3 | Health Care and Social Assistance | 9 | 14.8% | |
| 4 | Accommodation and Food Services | 8 | 13.1% | |
| 5 | Construction | 5 | 8.2% | |
| 6 | Transportation and Warehousing | 4 | 6.6% | |
| 7 | Arts, Entertainment, and Recreation | 3 | 4.9% | |
| 8 | Manufacturing | 3 | 4.9% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 11 | $7.2M | $200K | 2 | — | 13 | 108 |
| FY2025 | 25 | $6.0M | $100K | 4 | $2.9M | 29 | 211 |
| FY2024 | 12 | $3.9M | $251K | 0 | — | 12 | 64 |
| FY2023 | 9 | $2.4M | $150K | 1 | — | 10 | 106 |
| FY2022 | 3 | $1.6M | $308K | 1 | — | 4 | 44 |
| FY2021 | 5 | $3.2M | $100K | 1 | — | 6 | 37 |
| FY2020 | 10 | $4.2M | $378K | 3 | $1.8M | 13 | 226 |
| FY2019 | 7 | $1.3M | $150K | 1 | — | 8 | 30 |
| FY2018 | 8 | $848K | $123K | 4 | $4.3M | 12 | 82 |
| FY2017 | 9 | $2.4M | $225K | 2 | — | 11 | 202 |
| FY2016 | 14 | $4.9M | $56K | 3 | $1.4M | 17 | 178 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 61 approvals.
Against Virginia and the country
| FY2021–FY2025 | Albemarle County | Virginia | United States |
|---|---|---|---|
| Approvals | 61 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 20.6 | 27.9 | 41.0 |
| Median 7(a) approval | $150K | $212K | $190K |
| Median 504 approval | $814K | $484K | $657K |
| Average approval | $419K | $573K | $573K |
| 504 share of approvals | 11.5% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 7.6 | 12.3 | 10.5 |
| Share of state approvals | 1.0% | 100.0% | — |
Approval sizes
- $50,000 or less19.7%12
- $50,001 to $150,00032.8%20
- $150,001 to $350,00016.4%10
- $350,001 to $1 million21.3%13
- $1 million to $2 million4.9%3
- Over $2 million4.9%3
Age of the businesses
- Existing, more than 2 years old55.7%34
- New business, 2 years or less8.2%5
- Startup, loan funds will open the business24.6%15
- Change of ownership11.5%7
Questions and answers
Which lenders make the most SBA loans in Albemarle County?
By approvals in FY2021 to FY2025: The Huntington National Bank (8), Northeast Bank (5), Virginia National Bank (4), Wells Fargo Bank National Association (4), University of Virginia Community Credit Union Inc (4). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Albemarle County?
The median 7(a) approval was $150K and the median 504 approval $814K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Albemarle County?
Restaurants and Other Eating Places (5); Sporting Goods, Hobby, and Musical Instrument Retailers (5); Accounting, Tax Preparation, Bookkeeping, and Payroll Services (4); Offices of Other Health Practitioners (4); Taxi and Limousine Service (4).
Is SBA lending in Albemarle County rising?
Approvals in the three latest complete fiscal years total 51, against 23 in the three before: rising (+122%).
How does Albemarle County compare with the rest of Virginia?
20.6 approvals per 1,000 establishments against 27.9 statewide, and 61 of the state's 5,893 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error