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County28th of 130 in Virginia by approvalsFIPS 51740
SBA loans in Portsmouth 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 45 loans to businesses in Portsmouth city, Virginia, in FY2021 to FY2025, worth $16.0M: 33 under 7(a) and 12 under 504.
That is 28.2 approvals per 1,000 business establishments (1,597 establishments in 2023), close to the Virginia figure of 27.9 and below the national 41.0.
It ranks 28th of 130 Virginia counties with approvals. In FY2025 there were 15, up 50% on FY2024.
16 lenders had approvals here; the most active were 504 Capital Corporation (9), Wells Fargo Bank National Association (6) and Northeast Bank (5). The most common industry was general freight trucking.
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 Portsmouth city
By number of approvals to businesses in the county, FY2021–FY2025; 16 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 504 Capital CorporationChesapeake, VA · CDC | 9 | $2.6M | 20.0% | |
| 2 | Wells Fargo Bank National AssociationSioux Falls, SD | 6 | $90K | 13.3% | |
| 3 | Northeast BankLewiston, ME | 5 | $557K | 11.1% | |
| 4 | Readycap Lending, LLCBerkeley Heights, NJ | 4 | $200K | 8.9% | |
| 5 | Harvest Small Business Finance, LLCLaguna Hills, CA | 3 | $2.0M | 6.7% | |
| 6 | Truist BankCharlotte, NC | 3 | $1.6M | 6.7% | |
| 7 | Business Finance Group, Inc.Fairfax, VA · CDC | 3 | $1.4M | 6.7% | |
| 8 | Fulton Bank, National AssociationLancaster, PA | 3 | $883K | 6.7% | |
| 9 | Atlantic Union BankRichmond, VA | 2 | — | 4.4% | |
| 10 | U.S. Bank, National AssociationCincinnati, OH | 1 | — | 2.2% | |
| 11 | TowneBankPortsmouth, VA | 1 | — | 2.2% | |
| 12 | The Huntington National BankColumbus, OH | 1 | — | 2.2% | |
| 13 | SouthState Bank, National AssociationWinter Haven, FL | 1 | — | 2.2% | |
| 14 | Lendistry SBLC, LLCLos Angeles, CA | 1 | — | 2.2% | |
| 15 | BayPort Federal Credit UnionNewport News, VA | 1 | — | 2.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 8 | 17.8% | |
| 2 | Computer Systems Design and Related ServicesNAICS 5415 | 4 | 8.9% | |
| 3 | Building Equipment ContractorsNAICS 2382 | 4 | 8.9% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 6.7% | |
| 5 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 2 | 4.4% | |
| 6 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 4.4% | |
| 7 | Promoters of Performing Arts, Sports, and Similar EventsNAICS 7113 | 2 | 4.4% | |
| 8 | Child Day Care ServicesNAICS 6244 | 2 | 4.4% | |
| 9 | Building Finishing ContractorsNAICS 2383 | 2 | 4.4% | |
| 10 | Personal Care ServicesNAICS 8121 | 2 | 4.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 8 | 17.8% | |
| 2 | Transportation and Warehousing | 8 | 17.8% | |
| 3 | Health Care and Social Assistance | 6 | 13.3% | |
| 4 | Retail Trade | 5 | 11.1% | |
| 5 | Professional, Scientific, and Technical Services | 5 | 11.1% | |
| 6 | Wholesale Trade | 3 | 6.7% | |
| 7 | Arts, Entertainment, and Recreation | 3 | 6.7% | |
| 8 | Accommodation and Food Services | 3 | 6.7% |
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* | 2 | — | — | 6 | $3.3M | 8 | 53 |
| FY2025 | 11 | $5.2M | $150K | 4 | $1.5M | 15 | 202 |
| FY2024 | 9 | $1.2M | $50K | 1 | — | 10 | 100 |
| FY2023 | 4 | $2.3M | $366K | 1 | — | 5 | 60 |
| FY2022 | 8 | $3.4M | $202K | 5 | $2.0M | 13 | 67 |
| FY2021 | 1 | — | — | 1 | — | 2 | 3 |
| FY2020 | 1 | — | — | 2 | — | 3 | 10 |
| FY2019 | 6 | $1.0M | $150K | 4 | $862K | 10 | 79 |
| FY2018 | 1 | — | — | 2 | — | 3 | 30 |
| FY2017 | 5 | $5.6M | $530K | 2 | — | 7 | 103 |
| FY2016 | 2 | — | — | 2 | — | 4 | 25 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 27 approvals.
Against Virginia and the country
| FY2021–FY2025 | Portsmouth city | Virginia | United States |
|---|---|---|---|
| Approvals | 45 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 28.2 | 27.9 | 41.0 |
| Median 7(a) approval | $100K | $212K | $190K |
| Median 504 approval | $255K | $484K | $657K |
| Average approval | $357K | $573K | $573K |
| 504 share of approvals | 26.7% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 9.6 | 12.3 | 10.5 |
| Share of state approvals | 0.8% | 100.0% | — |
Approval sizes
- $50,000 or less31.1%14
- $50,001 to $150,00013.3%6
- $150,001 to $350,00022.2%10
- $350,001 to $1 million22.2%10
- $1 million to $2 million8.9%4
- Over $2 million2.2%1
Age of the businesses
- Existing, more than 2 years old71.1%32
- New business, 2 years or less20.0%9
- Startup, loan funds will open the business6.7%3
- Change of ownership2.2%1
Questions and answers
Which lenders make the most SBA loans in Portsmouth city?
By approvals in FY2021 to FY2025: 504 Capital Corporation (9), Wells Fargo Bank National Association (6), Northeast Bank (5), Readycap Lending, LLC (4), Harvest Small Business Finance, LLC (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Portsmouth city?
The median 7(a) approval was $100K and the median 504 approval $255K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Portsmouth city?
General Freight Trucking (8); Computer Systems Design and Related Services (4); Building Equipment Contractors (4); Restaurants and Other Eating Places (3); Machinery, Equipment, and Supplies Merchant Wholesalers (2).
Is SBA lending in Portsmouth city rising?
Approvals in the three latest complete fiscal years total 30, against 18 in the three before: rising (+67%).
How does Portsmouth city compare with the rest of Virginia?
28.2 approvals per 1,000 establishments against 27.9 statewide, and 45 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