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County16th of 130 in Virginia by approvalsFIPS 51700
SBA loans in Newport News 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.
SBA approved 88 loans to businesses in Newport News city, Virginia, in FY2021 to FY2025, worth $50.8M: 64 under 7(a) and 24 under 504.
That is 23.2 approvals per 1,000 business establishments (3,788 establishments in 2023), below the Virginia figure of 27.9 and below the national 41.0.
It ranks 16th of 130 Virginia counties with approvals. In FY2025 there were 26, up 8% on FY2024.
33 lenders had approvals here; the most active were 504 Capital Corporation (15), Northeast Bank (13) and Business Finance Group, Inc. (9). 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 Newport News city
By number of approvals to businesses in the county, FY2021–FY2025; 33 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 504 Capital CorporationChesapeake, VA · CDC | 15 | $7.1M | 17.0% | |
| 2 | Northeast BankLewiston, ME | 13 | $2.0M | 14.8% | |
| 3 | Business Finance Group, Inc.Fairfax, VA · CDC | 9 | $8.5M | 10.2% | |
| 4 | The Huntington National BankColumbus, OH | 9 | $4.8M | 10.2% | |
| 5 | Wells Fargo Bank National AssociationSioux Falls, SD | 5 | $854K | 5.7% | |
| 6 | First National Bank of PennsylvaniaGreenville, PA | 4 | $3.2M | 4.5% | |
| 7 | TowneBankPortsmouth, VA | 4 | $1.5M | 4.5% | |
| 8 | SouthState Bank, National AssociationWinter Haven, FL | 2 | — | 2.3% | |
| 9 | Newtek Bank, National AssociationMiami, FL | 2 | — | 2.3% | |
| 10 | Truist BankCharlotte, NC | 2 | — | 2.3% | |
| 11 | First Western SBLC, LLCDallas, TX | 1 | — | 1.1% | |
| 12 | Bank of Oak RidgeOak Ridge, NC | 1 | — | 1.1% | |
| 13 | Pinnacle BankNashville, TN | 1 | — | 1.1% | |
| 14 | Manufacturers and Traders Trust CompanyBuffalo, NY | 1 | — | 1.1% | |
| 15 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 1.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 9.1% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 8.0% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 7 | 8.0% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 5.7% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 5 | 5.7% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 5 | 5.7% | |
| 7 | Traveler AccommodationNAICS 7211 | 4 | 4.5% | |
| 8 | Grocery StoresNAICS 4451 | 3 | 3.4% | |
| 9 | Personal Care ServicesNAICS 8121 | 3 | 3.4% | |
| 10 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 3 | 3.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 15 | 17.0% | |
| 2 | Accommodation and Food Services | 13 | 14.8% | |
| 3 | Health Care and Social Assistance | 11 | 12.5% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 9 | 10.2% | |
| 5 | Construction | 7 | 8.0% | |
| 6 | Arts, Entertainment, and Recreation | 6 | 6.8% | |
| 7 | Retail Trade | 6 | 6.8% | |
| 8 | Professional, Scientific, and Technical Services | 5 | 5.7% |
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* | 15 | $9.1M | $150K | 0 | — | 15 | 144 |
| FY2025 | 21 | $12.2M | $250K | 5 | $2.0M | 26 | 519 |
| FY2024 | 19 | $7.7M | $317K | 5 | $3.0M | 24 | 270 |
| FY2023 | 9 | $3.6M | $311K | 7 | $2.5M | 16 | 91 |
| FY2022 | 7 | $3.9M | $149K | 3 | $6.3M | 10 | 139 |
| FY2021 | 8 | $7.9M | $216K | 4 | $1.8M | 12 | 94 |
| FY2020 | 5 | $2.4M | $350K | 11 | $3.4M | 16 | 120 |
| FY2019 | 8 | $4.8M | $139K | 1 | — | 9 | 86 |
| FY2018 | 11 | $9.7M | $490K | 2 | — | 13 | 143 |
| FY2017 | 16 | $3.3M | $148K | 2 | — | 18 | 193 |
| FY2016 | 16 | $2.4M | $143K | 0 | — | 16 | 128 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 72 approvals.
Against Virginia and the country
| FY2021–FY2025 | Newport News city | Virginia | United States |
|---|---|---|---|
| Approvals | 88 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 23.2 | 27.9 | 41.0 |
| Median 7(a) approval | $250K | $212K | $190K |
| Median 504 approval | $384K | $484K | $657K |
| Average approval | $578K | $573K | $573K |
| 504 share of approvals | 27.3% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 12.6 | 12.3 | 10.5 |
| Share of state approvals | 1.5% | 100.0% | — |
Approval sizes
- $50,000 or less18.2%16
- $50,001 to $150,00019.3%17
- $150,001 to $350,00021.6%19
- $350,001 to $1 million28.4%25
- $1 million to $2 million8.0%7
- Over $2 million4.5%4
Age of the businesses
- Existing, more than 2 years old56.8%50
- New business, 2 years or less13.6%12
- Startup, loan funds will open the business20.5%18
- Change of ownership9.1%8
Questions and answers
Which lenders make the most SBA loans in Newport News city?
By approvals in FY2021 to FY2025: 504 Capital Corporation (15), Northeast Bank (13), Business Finance Group, Inc. (9), The Huntington National Bank (9), Wells Fargo Bank National Association (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Newport News city?
The median 7(a) approval was $250K and the median 504 approval $384K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Newport News city?
Restaurants and Other Eating Places (8); Automotive Repair and Maintenance (7); Services to Buildings and Dwellings (7); Other Amusement and Recreation Industries (5); Building Equipment Contractors (5).
Is SBA lending in Newport News city rising?
Approvals in the three latest complete fiscal years total 66, against 38 in the three before: rising (+74%).
How does Newport News city compare with the rest of Virginia?
23.2 approvals per 1,000 establishments against 27.9 statewide, and 88 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