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County12th of 130 in Virginia by approvalsFIPS 51177
SBA loans in Spotsylvania 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 Spotsylvania County, Virginia, received 118 SBA loan approvals worth $74.0M in FY2021 to FY2025 (107 7(a), 11 504).
That is 42.0 approvals per 1,000 business establishments (2,811 establishments in 2023), above the Virginia figure of 27.9 and close to the national 41.0.
It ranks 12th of 130 Virginia counties with approvals. In FY2025 there were 40, up 38% on FY2024.
39 lenders had approvals here; the most active were The Huntington National Bank (15), Atlantic Union Bank (7) and Newtek Bank, National Association (7). The most common industry was automotive repair and maintenance.
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 Spotsylvania County
By number of approvals to businesses in the county, FY2021–FY2025; 39 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 15 | $3.5M | 12.7% | |
| 2 | Atlantic Union BankRichmond, VA | 7 | $14.1M | 5.9% | |
| 3 | Newtek Bank, National AssociationMiami, FL | 7 | $4.7M | 5.9% | |
| 4 | BayFirst National BankSaint Petersburg, FL | 7 | $1.2M | 5.9% | |
| 5 | Burke & Herbert Bank & Trust CompanyAlexandria, VA | 7 | $1.2M | 5.9% | |
| 6 | Manufacturers and Traders Trust CompanyBuffalo, NY | 7 | $748K | 5.9% | |
| 7 | Wells Fargo Bank National AssociationSioux Falls, SD | 7 | $127K | 5.9% | |
| 8 | Rappahannock Economic Development CorporationFredericksburg, VA · CDC | 6 | $2.1M | 5.1% | |
| 9 | TD Bank, National AssociationWilmington, DE | 6 | $824K | 5.1% | |
| 10 | Business Finance Group, Inc.Fairfax, VA · CDC | 5 | $2.8M | 4.2% | |
| 11 | United Midwest Savings Bank National AssociationDe Graff, OH | 4 | $1.2M | 3.4% | |
| 12 | Live Oak Banking CompanyWilmington, NC | 3 | $5.9M | 2.5% | |
| 13 | First Bank of the LakeOsage Beach, MO | 3 | $979K | 2.5% | |
| 14 | Readycap Lending, LLCBerkeley Heights, NJ | 3 | $975K | 2.5% | |
| 15 | Northeast BankLewiston, ME | 3 | $550K | 2.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 8 | 6.8% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 5.9% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 7 | 5.9% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 5 | 4.2% | |
| 5 | Automobile DealersNAICS 4411 | 5 | 4.2% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 5 | 4.2% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 3.4% | |
| 8 | Home Health Care ServicesNAICS 6216 | 4 | 3.4% | |
| 9 | Personal Care ServicesNAICS 8121 | 4 | 3.4% | |
| 10 | Junior CollegesNAICS 6112 | 3 | 2.5% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 17 | 14.4% | |
| 2 | Health Care and Social Assistance | 15 | 12.7% | |
| 3 | Construction | 14 | 11.9% | |
| 4 | Retail Trade | 13 | 11.0% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 11 | 9.3% | |
| 6 | Professional, Scientific, and Technical Services | 8 | 6.8% | |
| 7 | Educational Services | 7 | 5.9% | |
| 8 | Accommodation and Food Services | 7 | 5.9% |
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* | 18 | $7.3M | $300K | 2 | — | 20 | 223 |
| FY2025 | 39 | $22.6M | $275K | 1 | — | 40 | 546 |
| FY2024 | 27 | $22.3M | $255K | 2 | — | 29 | 353 |
| FY2023 | 15 | $8.1M | $150K | 2 | — | 17 | 310 |
| FY2022 | 16 | $8.8M | $70K | 2 | — | 18 | 129 |
| FY2021 | 10 | $7.3M | $313K | 4 | $1.5M | 14 | 99 |
| FY2020 | 6 | $3.9M | $85K | 2 | — | 8 | 77 |
| FY2019 | 7 | $4.1M | $50K | 1 | — | 8 | 44 |
| FY2018 | 8 | $4.1M | $208K | 3 | $1.2M | 11 | 90 |
| FY2017 | 10 | $3.0M | $213K | 2 | — | 12 | 104 |
| FY2016 | 4 | $4.8M | $1.1M | 1 | — | 5 | 27 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 44 approvals.
Against Virginia and the country
| FY2021–FY2025 | Spotsylvania County | Virginia | United States |
|---|---|---|---|
| Approvals | 118 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 42.0 | 27.9 | 41.0 |
| Median 7(a) approval | $250K | $212K | $190K |
| Median 504 approval | $438K | $484K | $657K |
| Average approval | $628K | $573K | $573K |
| 504 share of approvals | 9.3% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 12.2 | 12.3 | 10.5 |
| Share of state approvals | 2.0% | 100.0% | — |
Approval sizes
- $50,000 or less23.7%28
- $50,001 to $150,00014.4%17
- $150,001 to $350,00026.3%31
- $350,001 to $1 million20.3%24
- $1 million to $2 million7.6%9
- Over $2 million7.6%9
Age of the businesses
- Existing, more than 2 years old44.9%53
- New business, 2 years or less12.7%15
- Startup, loan funds will open the business36.4%43
- Change of ownership5.9%7
Questions and answers
Which lenders make the most SBA loans in Spotsylvania County?
By approvals in FY2021 to FY2025: The Huntington National Bank (15), Atlantic Union Bank (7), Newtek Bank, National Association (7), BayFirst National Bank (7), Burke & Herbert Bank & Trust Company (7). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Spotsylvania County?
The median 7(a) approval was $250K and the median 504 approval $438K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Spotsylvania County?
Automotive Repair and Maintenance (8); Restaurants and Other Eating Places (7); Services to Buildings and Dwellings (7); Offices of Other Health Practitioners (5); Automobile Dealers (5).
Is SBA lending in Spotsylvania County rising?
Approvals in the three latest complete fiscal years total 86, against 40 in the three before: rising (+115%).
How does Spotsylvania County compare with the rest of Virginia?
42.0 approvals per 1,000 establishments against 27.9 statewide, and 118 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