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County23rd of 130 in Virginia by approvalsFIPS 51121
SBA loans in Montgomery 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 Montgomery County, Virginia, received 56 SBA loan approvals worth $31.5M in FY2021 to FY2025 (52 7(a), 4 504).
That is 27.8 approvals per 1,000 business establishments (2,016 establishments in 2023), close to the Virginia figure of 27.9 and below the national 41.0.
It ranks 23rd of 130 Virginia counties with approvals. In FY2025 there were 16, up 23% on FY2024.
22 lenders had approvals here; the most active were First Community Bank (15), The First Bank and Trust Company (10) and Business Finance Group, Inc. (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 Montgomery County
By number of approvals to businesses in the county, FY2021–FY2025; 22 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | First Community BankBluefield, VA | 15 | $2.2M | 26.8% | |
| 2 | The First Bank and Trust CompanyLebanon, VA | 10 | $1.7M | 17.9% | |
| 3 | Business Finance Group, Inc.Fairfax, VA · CDC | 4 | $2.4M | 7.1% | |
| 4 | Pinnacle BankNashville, TN | 3 | $6.2M | 5.4% | |
| 5 | Pathward National AssociationSioux Falls, SD | 2 | — | 3.6% | |
| 6 | Byline BankChicago, IL | 2 | — | 3.6% | |
| 7 | KeyBank National AssociationCleveland, OH | 2 | — | 3.6% | |
| 8 | BayFirst National BankSaint Petersburg, FL | 2 | — | 3.6% | |
| 9 | Skyline National BankIndependence, VA | 2 | — | 3.6% | |
| 10 | Wells Fargo Bank National AssociationSioux Falls, SD | 2 | — | 3.6% | |
| 11 | Bank of HopeLos Angeles, CA | 1 | — | 1.8% | |
| 12 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 1.8% | |
| 13 | First-Citizens Bank & Trust CompanyRaleigh, NC | 1 | — | 1.8% | |
| 14 | Newtek Bank, National AssociationMiami, FL | 1 | — | 1.8% | |
| 15 | United Community BankGreenville, SC | 1 | — | 1.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 12.5% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 4 | 7.1% | |
| 3 | Traveler AccommodationNAICS 7211 | 3 | 5.4% | |
| 4 | Support Activities for Road TransportationNAICS 4884 | 3 | 5.4% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 5.4% | |
| 6 | Lawn and Garden Equipment and Supplies StoresNAICS 4442 | 2 | 3.6% | |
| 7 | Computer Systems Design and Related ServicesNAICS 5415 | 2 | 3.6% | |
| 8 | Semiconductor and Other Electronic Component ManufacturingNAICS 3344 | 2 | 3.6% | |
| 9 | Used Merchandise StoresNAICS 4533 | 2 | 3.6% | |
| 10 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 2 | 3.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 10 | 17.9% | |
| 2 | Construction | 10 | 17.9% | |
| 3 | Retail Trade | 10 | 17.9% | |
| 4 | Transportation and Warehousing | 6 | 10.7% | |
| 5 | Professional, Scientific, and Technical Services | 3 | 5.4% | |
| 6 | Health Care and Social Assistance | 3 | 5.4% | |
| 7 | Other Services (except Public Administration) | 3 | 5.4% | |
| 8 | Arts, Entertainment, and Recreation | 2 | 3.6% |
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* | 5 | $2.7M | $151K | 0 | — | 5 | 38 |
| FY2025 | 16 | $12.6M | $266K | 0 | — | 16 | 76 |
| FY2024 | 13 | $4.3M | $150K | 0 | — | 13 | 51 |
| FY2023 | 4 | $1.3M | $248K | 0 | — | 4 | 38 |
| FY2022 | 8 | $8.7M | $638K | 0 | — | 8 | 90 |
| FY2021 | 11 | $2.2M | $125K | 4 | $2.4M | 15 | 166 |
| FY2020 | 12 | $2.5M | $145K | 1 | — | 13 | 151 |
| FY2019 | 8 | $1.4M | $45K | 0 | — | 8 | 61 |
| FY2018 | 10 | $2.1M | $113K | 0 | — | 10 | 84 |
| FY2017 | 8 | $6.9M | $360K | 2 | — | 10 | 68 |
| FY2016 | 7 | $3.3M | $60K | 0 | — | 7 | 37 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 48 approvals.
Against Virginia and the country
| FY2021–FY2025 | Montgomery County | Virginia | United States |
|---|---|---|---|
| Approvals | 56 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 27.8 | 27.9 | 41.0 |
| Median 7(a) approval | $198K | $212K | $190K |
| Median 504 approval | $424K | $484K | $657K |
| Average approval | $563K | $573K | $573K |
| 504 share of approvals | 7.1% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 7.5 | 12.3 | 10.5 |
| Share of state approvals | 1.0% | 100.0% | — |
Approval sizes
- $50,000 or less19.6%11
- $50,001 to $150,00019.6%11
- $150,001 to $350,00028.6%16
- $350,001 to $1 million14.3%8
- $1 million to $2 million10.7%6
- Over $2 million7.1%4
Age of the businesses
- Existing, more than 2 years old55.4%31
- New business, 2 years or less17.9%10
- Startup, loan funds will open the business16.1%9
- Change of ownership10.7%6
Questions and answers
Which lenders make the most SBA loans in Montgomery County?
By approvals in FY2021 to FY2025: First Community Bank (15), The First Bank and Trust Company (10), Business Finance Group, Inc. (4), Pinnacle Bank (3), Pathward National Association (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Montgomery County?
The median 7(a) approval was $198K and the median 504 approval $424K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Montgomery County?
Restaurants and Other Eating Places (7); Building Equipment Contractors (4); Traveler Accommodation (3); Support Activities for Road Transportation (3); Other Specialty Trade Contractors (3).
Is SBA lending in Montgomery County rising?
Approvals in the three latest complete fiscal years total 33, against 36 in the three before: broadly level (-8%).
How does Montgomery County compare with the rest of Virginia?
27.8 approvals per 1,000 establishments against 27.9 statewide, and 56 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