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County36th of 130 in Virginia by approvalsFIPS 51019
SBA loans in Bedford 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.
SBA approved 32 loans to businesses in Bedford County, Virginia, in FY2021 to FY2025, worth $19.1M: 27 under 7(a) and 5 under 504.
That is 17.6 approvals per 1,000 business establishments (1,818 establishments in 2023), below the Virginia figure of 27.9 and below the national 41.0.
It ranks 36th of 130 Virginia counties with approvals. In FY2025 there were 10.
19 lenders had approvals here; the most active were The First Bank and Trust Company (5), 504 Capital Corporation (4) and Truist Bank (3). The most common industry was other amusement and recreation industries.
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 Bedford County
By number of approvals to businesses in the county, FY2021–FY2025; 19 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The First Bank and Trust CompanyLebanon, VA | 5 | $1.7M | 15.6% | |
| 2 | 504 Capital CorporationChesapeake, VA · CDC | 4 | $2.7M | 12.5% | |
| 3 | Truist BankCharlotte, NC | 3 | $4.4M | 9.4% | |
| 4 | The Huntington National BankColumbus, OH | 2 | — | 6.3% | |
| 5 | Newtek Bank, National AssociationMiami, FL | 2 | — | 6.3% | |
| 6 | Select BankForest, VA | 2 | — | 6.3% | |
| 7 | Central Virginia Federal Credit UnionLynchburg, VA | 2 | — | 6.3% | |
| 8 | Rappahannock Economic Development CorporationFredericksburg, VA · CDC | 1 | — | 3.1% | |
| 9 | First National Bank of PennsylvaniaGreenville, PA | 1 | — | 3.1% | |
| 10 | Readycap Lending, LLCBerkeley Heights, NJ | 1 | — | 3.1% | |
| 11 | GBankLas Vegas, NV | 1 | — | 3.1% | |
| 12 | Cogent BankOrlando, FL | 1 | — | 3.1% | |
| 13 | The National Bank of BlacksburgBlacksburg, VA | 1 | — | 3.1% | |
| 14 | The Bank of EdisonEdison, GA | 1 | — | 3.1% | |
| 15 | Bank Five NineOconomowoc, WI | 1 | — | 3.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 15.6% | |
| 2 | Offices of Real Estate Agents and BrokersNAICS 5312 | 4 | 12.5% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 12.5% | |
| 4 | Residential Building ConstructionNAICS 2361 | 2 | 6.3% | |
| 5 | Architectural, Engineering, and Related ServicesNAICS 5413 | 2 | 6.3% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 1 | 3.1% | |
| 7 | Other Animal ProductionNAICS 1129 | 1 | 3.1% | |
| 8 | Other General Purpose Machinery ManufacturingNAICS 3339 | 1 | 3.1% | |
| 9 | Printing and Related Support ActivitiesNAICS 3231 | 1 | 3.1% | |
| 10 | Specialty Food StoresNAICS 4452 | 1 | 3.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Arts, Entertainment, and Recreation | 5 | 15.6% | |
| 2 | Real Estate and Rental and Leasing | 5 | 15.6% | |
| 3 | Accommodation and Food Services | 5 | 15.6% | |
| 4 | Construction | 3 | 9.4% | |
| 5 | Manufacturing | 3 | 9.4% | |
| 6 | Professional, Scientific, and Technical Services | 3 | 9.4% | |
| 7 | Agriculture, Forestry, Fishing and Hunting | 2 | 6.3% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 6.3% |
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* | 4 | $893K | $200K | 0 | — | 4 | 47 |
| FY2025 | 8 | $2.6M | $227K | 2 | — | 10 | 82 |
| FY2024 | 5 | $1.7M | $350K | 0 | — | 5 | 50 |
| FY2023 | 7 | $4.4M | $495K | 1 | — | 8 | 84 |
| FY2022 | 3 | $352K | $32K | 2 | — | 5 | 60 |
| FY2021 | 4 | $4.7M | $932K | 0 | — | 4 | 115 |
| FY2020 | 2 | — | — | 1 | — | 3 | 10 |
| FY2019 | 4 | $1.8M | $93K | 2 | — | 6 | 40 |
| FY2018 | 11 | $3.4M | $125K | 0 | — | 11 | 41 |
| FY2017 | 4 | $1.5M | $233K | 0 | — | 4 | 22 |
| FY2016 | 7 | $671K | $75K | 0 | — | 7 | 36 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 31 approvals.
Against Virginia and the country
| FY2021–FY2025 | Bedford County | Virginia | United States |
|---|---|---|---|
| Approvals | 32 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 17.6 | 27.9 | 41.0 |
| Median 7(a) approval | $315K | $212K | $190K |
| Median 504 approval | $485K | $484K | $657K |
| Average approval | $597K | $573K | $573K |
| 504 share of approvals | 15.6% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 12.2 | 12.3 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less9.4%3
- $50,001 to $150,00018.8%6
- $150,001 to $350,00021.9%7
- $350,001 to $1 million34.4%11
- $1 million to $2 million6.3%2
- Over $2 million9.4%3
Age of the businesses
- Existing, more than 2 years old56.3%18
- New business, 2 years or less18.8%6
- Startup, loan funds will open the business12.5%4
- Change of ownership12.5%4
Questions and answers
Which lenders make the most SBA loans in Bedford County?
By approvals in FY2021 to FY2025: The First Bank and Trust Company (5), 504 Capital Corporation (4), Truist Bank (3), The Huntington National Bank (2), Newtek Bank, National Association (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Bedford County?
The median 7(a) approval was $315K and the median 504 approval $485K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Bedford County?
Other Amusement and Recreation Industries (5); Offices of Real Estate Agents and Brokers (4); Restaurants and Other Eating Places (4); Residential Building Construction (2); Architectural, Engineering, and Related Services (2).
Is SBA lending in Bedford County rising?
Approvals in the three latest complete fiscal years total 23, against 12 in the three before: rising (+92%).
How does Bedford County compare with the rest of Virginia?
17.6 approvals per 1,000 establishments against 27.9 statewide, and 32 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