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County6th of 130 in Virginia by approvalsFIPS 51087
SBA loans in Henrico 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 240 loans to businesses in Henrico County, Virginia, in FY2021 to FY2025, worth $151M: 225 under 7(a) and 15 under 504.
That is 24.6 approvals per 1,000 business establishments (9,754 establishments in 2023), close to the Virginia figure of 27.9 and below the national 41.0.
It ranks 6th of 130 Virginia counties with approvals. In FY2025 there were 75, up 15% on FY2024.
53 lenders had approvals here; the most active were Manufacturers and Traders Trust Company (35), The Huntington National Bank (21) and Wells Fargo Bank National Association (17). The most common industry was services to buildings and dwellings.
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 Henrico County
By number of approvals to businesses in the county, FY2021–FY2025; 53 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust CompanyBuffalo, NY | 35 | $4.0M | 14.6% | |
| 2 | The Huntington National BankColumbus, OH | 21 | $8.5M | 8.8% | |
| 3 | Wells Fargo Bank National AssociationSioux Falls, SD | 17 | $1.6M | 7.1% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 14 | $4.8M | 5.8% | |
| 5 | Northeast BankLewiston, ME | 13 | $1.7M | 5.4% | |
| 6 | SouthState Bank, National AssociationWinter Haven, FL | 10 | $5.9M | 4.2% | |
| 7 | Live Oak Banking CompanyWilmington, NC | 9 | $17.9M | 3.8% | |
| 8 | First National Bank of PennsylvaniaGreenville, PA | 9 | $11.9M | 3.8% | |
| 9 | TowneBankPortsmouth, VA | 8 | $8.2M | 3.3% | |
| 10 | Business Finance Group, Inc.Fairfax, VA · CDC | 8 | $7.6M | 3.3% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 8 | $833K | 3.3% | |
| 12 | 504 Capital CorporationChesapeake, VA · CDC | 7 | $4.2M | 2.9% | |
| 13 | Truist BankCharlotte, NC | 6 | $8.3M | 2.5% | |
| 14 | First Community BankBluefield, VA | 6 | $1.3M | 2.5% | |
| 15 | Fulton Bank, National AssociationLancaster, PA | 4 | $6.2M | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Services to Buildings and DwellingsNAICS 5617 | 16 | 6.7% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 16 | 6.7% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 15 | 6.3% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 4.6% | |
| 5 | Personal Care ServicesNAICS 8121 | 11 | 4.6% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 10 | 4.2% | |
| 7 | Individual and Family ServicesNAICS 6241 | 8 | 3.3% | |
| 8 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 8 | 3.3% | |
| 9 | Child Day Care ServicesNAICS 6244 | 7 | 2.9% | |
| 10 | Other Specialty Trade ContractorsNAICS 2389 | 7 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 46 | 19.2% | |
| 2 | Professional, Scientific, and Technical Services | 33 | 13.8% | |
| 3 | Other Services (except Public Administration) | 30 | 12.5% | |
| 4 | Construction | 22 | 9.2% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 20 | 8.3% | |
| 6 | Retail Trade | 19 | 7.9% | |
| 7 | Accommodation and Food Services | 16 | 6.7% | |
| 8 | Arts, Entertainment, and Recreation | 13 | 5.4% |
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* | 55 | $25.8M | $225K | 2 | — | 57 | 432 |
| FY2025 | 71 | $28.7M | $175K | 4 | $4.2M | 75 | 795 |
| FY2024 | 61 | $33.9M | $160K | 4 | $3.1M | 65 | 1,106 |
| FY2023 | 28 | $19.0M | $284K | 1 | — | 29 | 776 |
| FY2022 | 37 | $22.9M | $225K | 2 | — | 39 | 413 |
| FY2021 | 28 | $35.2M | $310K | 4 | $3.5M | 32 | 773 |
| FY2020 | 24 | $12.8M | $201K | 3 | $1.7M | 27 | 403 |
| FY2019 | 42 | $28.6M | $158K | 5 | $5.0M | 47 | 885 |
| FY2018 | 38 | $17.3M | $204K | 8 | $3.3M | 46 | 716 |
| FY2017 | 46 | $15.6M | $179K | 7 | $3.1M | 53 | 575 |
| FY2016 | 53 | $12.6M | $140K | 4 | $5.5M | 57 | 473 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 230 approvals.
Against Virginia and the country
| FY2021–FY2025 | Henrico County | Virginia | United States |
|---|---|---|---|
| Approvals | 240 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 24.6 | 27.9 | 41.0 |
| Median 7(a) approval | $200K | $212K | $190K |
| Median 504 approval | $482K | $484K | $657K |
| Average approval | $631K | $573K | $573K |
| 504 share of approvals | 6.3% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 16.1 | 12.3 | 10.5 |
| Share of state approvals | 4.1% | 100.0% | — |
Approval sizes
- $50,000 or less24.2%58
- $50,001 to $150,00019.2%46
- $150,001 to $350,00022.1%53
- $350,001 to $1 million16.7%40
- $1 million to $2 million9.6%23
- Over $2 million8.3%20
Age of the businesses
- Existing, more than 2 years old46.7%112
- New business, 2 years or less19.2%46
- Startup, loan funds will open the business22.1%53
- Change of ownership12.1%29
Questions and answers
Which lenders make the most SBA loans in Henrico County?
By approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (35), The Huntington National Bank (21), Wells Fargo Bank National Association (17), Newtek Bank, National Association (14), Northeast Bank (13). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Henrico County?
The median 7(a) approval was $200K and the median 504 approval $482K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Henrico County?
Services to Buildings and Dwellings (16); Offices of Other Health Practitioners (16); Automotive Repair and Maintenance (15); Restaurants and Other Eating Places (11); Personal Care Services (11).
Is SBA lending in Henrico County rising?
Approvals in the three latest complete fiscal years total 169, against 98 in the three before: rising (+72%).
How does Henrico County compare with the rest of Virginia?
24.6 approvals per 1,000 establishments against 27.9 statewide, and 240 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