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County25th of 130 in Virginia by approvalsFIPS 51191
SBA loans in Washington 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 52 loans to businesses in Washington County, Virginia, in FY2021 to FY2025, worth $28.9M: 51 under 7(a) and 1 under 504.
That is 43.1 approvals per 1,000 business establishments (1,207 establishments in 2023), above the Virginia figure of 27.9 and close to the national 41.0.
It ranks 25th of 130 Virginia counties with approvals. In FY2025 there were 9.
9 lenders had approvals here; the most active were The First Bank and Trust Company (35), First Community Bank (8) and U.S. Bank, National Association (2). The most common industry was other financial investment activities.
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 Washington County
By number of approvals to businesses in the county, FY2021–FY2025; 9 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The First Bank and Trust CompanyLebanon, VA | 35 | $16.6M | 67.3% | |
| 2 | First Community BankBluefield, VA | 8 | $4.6M | 15.4% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 2 | — | 3.8% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 2 | — | 3.8% | |
| 5 | Newtek Small Business Finance, Inc.Lake Success, NY | 1 | — | 1.9% | |
| 6 | Byline BankChicago, IL | 1 | — | 1.9% | |
| 7 | Citizens BankElizabethton, TN | 1 | — | 1.9% | |
| 8 | 504 Capital CorporationChesapeake, VA · CDC | 1 | — | 1.9% | |
| 9 | Northeast BankLewiston, ME | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Financial Investment ActivitiesNAICS 5239 | 5 | 9.6% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 5 | 9.6% | |
| 3 | Health and Personal Care StoresNAICS 4461 | 3 | 5.8% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.8% | |
| 5 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 3 | 5.8% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 3.8% | |
| 7 | Grocery StoresNAICS 4451 | 2 | 3.8% | |
| 8 | Other Miscellaneous Store RetailersNAICS 4539 | 2 | 3.8% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.8% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 12 | 23.1% | |
| 2 | Finance and Insurance | 7 | 13.5% | |
| 3 | Construction | 7 | 13.5% | |
| 4 | Manufacturing | 5 | 9.6% | |
| 5 | Other Services (except Public Administration) | 5 | 9.6% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 4 | 7.7% | |
| 7 | Accommodation and Food Services | 3 | 5.8% | |
| 8 | Arts, Entertainment, and Recreation | 2 | 3.8% |
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* | 4 | $5.5M | $1.3M | 0 | — | 4 | 22 |
| FY2025 | 9 | $3.7M | $150K | 0 | — | 9 | 19 |
| FY2024 | 4 | $3.3M | $700K | 0 | — | 4 | 61 |
| FY2023 | 15 | $10.0M | $175K | 0 | — | 15 | 277 |
| FY2022 | 13 | $2.6M | $127K | 1 | — | 14 | 49 |
| FY2021 | 10 | $9.0M | $311K | 0 | — | 10 | 330 |
| FY2020 | 7 | $2.2M | $145K | 0 | — | 7 | 49 |
| FY2019 | 6 | $4.0M | $371K | 0 | — | 6 | 59 |
| FY2018 | 6 | $1.5M | $103K | 0 | — | 6 | 21 |
| FY2017 | 3 | $262K | $75K | 0 | — | 3 | 15 |
| FY2016 | 3 | $505K | $25K | 0 | — | 3 | 4 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 25 approvals.
Against Virginia and the country
| FY2021–FY2025 | Washington County | Virginia | United States |
|---|---|---|---|
| Approvals | 52 | 5,893 | 342,825 |
| Approvals per 1,000 establishments | 43.1 | 27.9 | 41.0 |
| Median 7(a) approval | $225K | $212K | $190K |
| Median 504 approval | — | $484K | $657K |
| Average approval | $555K | $573K | $573K |
| 504 share of approvals | 1.9% | 11.6% | 11.0% |
| Jobs supported per approval, as reported | 14.2 | 12.3 | 10.5 |
| Share of state approvals | 0.9% | 100.0% | — |
Approval sizes
- $50,000 or less9.6%5
- $50,001 to $150,00032.7%17
- $150,001 to $350,00025.0%13
- $350,001 to $1 million17.3%9
- $1 million to $2 million9.6%5
- Over $2 million5.8%3
Age of the businesses
- Existing, more than 2 years old73.1%38
- New business, 2 years or less21.2%11
- Startup, loan funds will open the business3.8%2
- Change of ownership1.9%1
Questions and answers
Which lenders make the most SBA loans in Washington County?
By approvals in FY2021 to FY2025: The First Bank and Trust Company (35), First Community Bank (8), U.S. Bank, National Association (2), Newtek Bank, National Association (2), Newtek Small Business Finance, Inc. (1). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Washington County?
The median 7(a) approval was $225K; the Virginia 7(a) median was $212K.
Which industries get the most SBA loans in Washington County?
Other Financial Investment Activities (5); Other Specialty Trade Contractors (5); Health and Personal Care Stores (3); Restaurants and Other Eating Places (3); Machine Shops; Turned Product; and Screw, Nut, and Bolt Manufacturing (3).
Is SBA lending in Washington County rising?
Approvals in the three latest complete fiscal years total 28, against 31 in the three before: falling (-10%).
How does Washington County compare with the rest of Virginia?
43.1 approvals per 1,000 establishments against 27.9 statewide, and 52 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