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County7th of 130 in Virginia by approvalsFIPS 51550
SBA loans in Chesapeake city, 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 Chesapeake city, Virginia, received 211 SBA loan approvals worth $120M in FY2021 to FY2025 (165 7(a), 46 504).
That is 36.0 approvals per 1,000 business establishments (5,867 establishments in 2023), above the Virginia figure of 27.9 and close to the national 41.0.
It ranks 7th of 130 Virginia counties with approvals. In FY2025 there were 49, about level with FY2024.
46 lenders had approvals here; the most active were 504 Capital Corporation (26), Business Finance Group, Inc. (20) and The Huntington National Bank (18). 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 Chesapeake city
By number of approvals to businesses in the county, FY2021–FY2025; 46 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 504 Capital CorporationChesapeake, VA · CDC | 26 | $13.1M | 12.3% | |
| 2 | Business Finance Group, Inc.Fairfax, VA · CDC | 20 | $25.9M | 9.5% | |
| 3 | The Huntington National BankColumbus, OH | 18 | $7.4M | 8.5% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 13 | $5.1M | 6.2% | |
| 5 | Wells Fargo Bank National AssociationSioux Falls, SD | 12 | $140K | 5.7% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 10 | $1.3M | 4.7% | |
| 7 | Northeast BankLewiston, ME | 8 | $671K | 3.8% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 7 | $6.0M | 3.3% | |
| 9 | Atlantic Union BankRichmond, VA | 7 | $5.8M | 3.3% | |
| 10 | Celtic Bank CorporationSalt Lake City, UT | 7 | $3.1M | 3.3% | |
| 11 | Fulton Bank, National AssociationLancaster, PA | 6 | $3.2M | 2.8% | |
| 12 | BayPort Federal Credit UnionNewport News, VA | 6 | $633K | 2.8% | |
| 13 | Citizens BankElizabethton, TN | 5 | $5.9M | 2.4% | |
| 14 | Bank of America, National AssociationCharlotte, NC | 5 | $2.1M | 2.4% | |
| 15 | United Midwest Savings Bank National AssociationDe Graff, OH | 5 | $825K | 2.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 5.2% | |
| 2 | General Freight TruckingNAICS 4841 | 10 | 4.7% | |
| 3 | Other Specialty Trade ContractorsNAICS 2389 | 8 | 3.8% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 7 | 3.3% | |
| 5 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 7 | 3.3% | |
| 6 | Traveler AccommodationNAICS 7211 | 6 | 2.8% | |
| 7 | Offices of DentistsNAICS 6212 | 6 | 2.8% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 6 | 2.8% | |
| 9 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 5 | 2.4% | |
| 10 | Home Health Care ServicesNAICS 6216 | 5 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 30 | 14.2% | |
| 2 | Health Care and Social Assistance | 28 | 13.3% | |
| 3 | Professional, Scientific, and Technical Services | 24 | 11.4% | |
| 4 | Transportation and Warehousing | 19 | 9.0% | |
| 5 | Accommodation and Food Services | 18 | 8.5% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 18 | 8.5% | |
| 7 | Manufacturing | 17 | 8.1% | |
| 8 | Retail Trade | 17 | 8.1% |
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* | 19 | $5.0M | $170K | 6 | $9.9M | 25 | 207 |
| FY2025 | 48 | $20.5M | $227K | 1 | — | 49 | 513 |
| FY2024 | 37 | $16.4M | $150K | 11 | $9.0M | 48 | 636 |
| FY2023 | 37 | $17.1M | $150K | 5 | $5.9M | 42 | 617 |
| FY2022 | 23 | $8.4M | $164K | 11 | $6.4M | 34 | 468 |
| FY2021 | 20 | $18.4M | $616K | 18 | $15.2M | 38 | 710 |
| FY2020 | 14 | $9.3M | $150K | 9 | $4.0M | 23 | 240 |
| FY2019 | 19 | $8.9M | $150K | 10 | $9.6M | 29 | 344 |
| FY2018 | 32 | $15.1M | $138K | 9 | $3.6M | 41 | 755 |
| FY2017 | 26 | $8.3M | $279K | 6 | $1.3M | 32 | 285 |
| FY2016 | 22 | $4.2M | $75K | 7 | $2.5M | 29 | 155 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 154 approvals.
Against Virginia and the country
| FY2021–FY2025 | Chesapeake city | Virginia | United States |
|---|---|---|---|
| Approvals | 211 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 36.0 | 27.9 | 41.0 |
| Median 7(a) approval | $164K | $212K | $190K |
| Median 504 approval | $539K | $484K | $657K |
| Average approval | $568K | $573K | $573K |
| 504 share of approvals | 21.8% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 14.0 | 12.3 | 10.5 |
| Share of state approvals | 3.6% | 100.0% | — |
Approval sizes
- $50,000 or less14.7%31
- $50,001 to $150,00027.5%58
- $150,001 to $350,00015.6%33
- $350,001 to $1 million27.5%58
- $1 million to $2 million9.5%20
- Over $2 million5.2%11
Age of the businesses
- Existing, more than 2 years old56.4%119
- New business, 2 years or less15.6%33
- Startup, loan funds will open the business21.8%46
- Change of ownership5.7%12
- Not answered0.5%1
Questions and answers
Which lenders make the most SBA loans in Chesapeake city?
By approvals in FY2021 to FY2025: 504 Capital Corporation (26), Business Finance Group, Inc. (20), The Huntington National Bank (18), Newtek Bank, National Association (13), Wells Fargo Bank National Association (12). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Chesapeake city?
The median 7(a) approval was $164K and the median 504 approval $539K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Chesapeake city?
Restaurants and Other Eating Places (11); General Freight Trucking (10); Other Specialty Trade Contractors (8); Other Amusement and Recreation Industries (7); Foundation, Structure, and Building Exterior Contractors (7).
Is SBA lending in Chesapeake city rising?
Approvals in the three latest complete fiscal years total 139, against 95 in the three before: rising (+46%).
How does Chesapeake city compare with the rest of Virginia?
36.0 approvals per 1,000 establishments against 27.9 statewide, and 211 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