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County5th of 130 in Virginia by approvalsFIPS 51041
SBA loans in Chesterfield 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 251 loans to businesses in Chesterfield County, Virginia, in FY2021 to FY2025, worth $150M: 222 under 7(a) and 29 under 504.
That is 30.4 approvals per 1,000 business establishments (8,257 establishments in 2023), close to the Virginia figure of 27.9 and below the national 41.0.
It ranks 5th of 130 Virginia counties with approvals. In FY2025 there were 65, up 14% on FY2024.
52 lenders had approvals here; the most active were Manufacturers and Traders Trust Company (23), Business Finance Group, Inc. (22) and Wells Fargo Bank National Association (21). 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 Chesterfield County
By number of approvals to businesses in the county, FY2021–FY2025; 52 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust CompanyBuffalo, NY | 23 | $1.9M | 9.2% | |
| 2 | Business Finance Group, Inc.Fairfax, VA · CDC | 22 | $13.0M | 8.8% | |
| 3 | Wells Fargo Bank National AssociationSioux Falls, SD | 21 | $6.5M | 8.4% | |
| 4 | TowneBankPortsmouth, VA | 16 | $17.2M | 6.4% | |
| 5 | The Huntington National BankColumbus, OH | 14 | $3.9M | 5.6% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 12 | $4.4M | 4.8% | |
| 7 | Readycap Lending, LLCBerkeley Heights, NJ | 12 | $4.4M | 4.8% | |
| 8 | Northeast BankLewiston, ME | 10 | $1.7M | 4.0% | |
| 9 | Live Oak Banking CompanyWilmington, NC | 9 | $13.3M | 3.6% | |
| 10 | Newtek Small Business Finance, Inc.Lake Success, NY | 9 | $3.0M | 3.6% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 9 | $1.2M | 3.6% | |
| 12 | First National Bank of PennsylvaniaGreenville, PA | 7 | $10.2M | 2.8% | |
| 13 | SouthState Bank, National AssociationWinter Haven, FL | 7 | $4.4M | 2.8% | |
| 14 | United Midwest Savings Bank National AssociationDe Graff, OH | 7 | $2.3M | 2.8% | |
| 15 | GBankLas Vegas, NV | 5 | $11.3M | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 25 | 10.0% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 14 | 5.6% | |
| 3 | Personal Care ServicesNAICS 8121 | 12 | 4.8% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 10 | 4.0% | |
| 5 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 9 | 3.6% | |
| 6 | Traveler AccommodationNAICS 7211 | 8 | 3.2% | |
| 7 | Other Specialty Trade ContractorsNAICS 2389 | 8 | 3.2% | |
| 8 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 8 | 3.2% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 3.2% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 7 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 38 | 15.1% | |
| 2 | Other Services (except Public Administration) | 36 | 14.3% | |
| 3 | Health Care and Social Assistance | 35 | 13.9% | |
| 4 | Construction | 35 | 13.9% | |
| 5 | Professional, Scientific, and Technical Services | 26 | 10.4% | |
| 6 | Retail Trade | 18 | 7.2% | |
| 7 | Manufacturing | 16 | 6.4% | |
| 8 | Arts, Entertainment, and Recreation | 10 | 4.0% |
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* | 31 | $11.7M | $150K | 3 | $5.0M | 34 | 285 |
| FY2025 | 60 | $43.9M | $259K | 5 | $3.3M | 65 | 884 |
| FY2024 | 51 | $21.5M | $250K | 6 | $5.3M | 57 | 626 |
| FY2023 | 43 | $15.3M | $150K | 4 | $1.6M | 47 | 535 |
| FY2022 | 33 | $10.8M | $100K | 4 | $3.6M | 37 | 405 |
| FY2021 | 35 | $38.6M | $667K | 10 | $6.1M | 45 | 626 |
| FY2020 | 18 | $7.2M | $324K | 2 | — | 20 | 174 |
| FY2019 | 35 | $8.8M | $210K | 2 | — | 37 | 527 |
| FY2018 | 39 | $14.6M | $200K | 5 | $3.1M | 44 | 625 |
| FY2017 | 55 | $14.8M | $160K | 3 | $1.8M | 58 | 471 |
| FY2016 | 40 | $16.5M | $100K | 7 | $4.6M | 47 | 356 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 206 approvals.
Against Virginia and the country
| FY2021–FY2025 | Chesterfield County | Virginia | United States |
|---|---|---|---|
| Approvals | 251 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 30.4 | 27.9 | 41.0 |
| Median 7(a) approval | $250K | $212K | $190K |
| Median 504 approval | $523K | $484K | $657K |
| Average approval | $597K | $573K | $573K |
| 504 share of approvals | 11.6% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 12.3 | 12.3 | 10.5 |
| Share of state approvals | 4.3% | 100.0% | — |
Approval sizes
- $50,000 or less18.7%47
- $50,001 to $150,00020.7%52
- $150,001 to $350,00017.9%45
- $350,001 to $1 million25.9%65
- $1 million to $2 million8.8%22
- Over $2 million8.0%20
Age of the businesses
- Existing, more than 2 years old47.4%119
- New business, 2 years or less17.5%44
- Startup, loan funds will open the business24.7%62
- Change of ownership10.0%25
- Not answered0.4%1
Questions and answers
Which lenders make the most SBA loans in Chesterfield County?
By approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (23), Business Finance Group, Inc. (22), Wells Fargo Bank National Association (21), TowneBank (16), The Huntington National Bank (14). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Chesterfield County?
The median 7(a) approval was $250K and the median 504 approval $523K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Chesterfield County?
Restaurants and Other Eating Places (25); Automotive Repair and Maintenance (14); Personal Care Services (12); Offices of Other Health Practitioners (10); Accounting, Tax Preparation, Bookkeeping, and Payroll Services (9).
Is SBA lending in Chesterfield County rising?
Approvals in the three latest complete fiscal years total 169, against 102 in the three before: rising (+66%).
How does Chesterfield County compare with the rest of Virginia?
30.4 approvals per 1,000 establishments against 27.9 statewide, and 251 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