Lenders › First Community Bank
7(a) lenderBluefield, VirginiaFDIC-insured bank170th of 2,184 by approvals
First Community Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
First Community Bank, based in Bluefield, Virginia, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 223 of its 7(a) loans worth $89.9M in FY2021 to FY2025, which places it 170th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 104 approvals totalling $45.3M, up 65% on FY2024 (63). FY2026 to 30 Jun 2026 adds 44 more.
The median approval was $182K, against $190K for the 7(a) program as a whole; 44.4% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 4 states and territories and 48 counties, led by North Carolina (52.0%), Virginia (31.8%) and West Virginia (14.8%). The largest industry group was transportation and warehousing at 17.0% of approvals, and 2.7% of approvals were to franchise businesses.
Of 413 disbursed loans approved in FY2010 to FY2021, SBA records 3 as charged off (0.7%), 360 as paid in full and 50 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 44 | $16.6M | $181K | $376K | 123 |
| FY2025 | 104 | $45.3M | $204K | $436K | 500 |
| FY2024 | 63 | $17.7M | $172K | $280K | 268 |
| FY2023 | 15 | $7.6M | $134K | $505K | 43 |
| FY2022 | 20 | $5.8M | $122K | $288K | 186 |
| FY2021 | 21 | $13.6M | $339K | $646K | 127 |
| FY2020 | 14 | $3.3M | $145K | $238K | 72 |
| FY2019 | 28 | $10.4M | $150K | $370K | 292 |
| FY2018 | 45 | $6.0M | $80K | $132K | 117 |
| FY2017 | 42 | $8.2M | $117K | $195K | 157 |
| FY2016 | 39 | $6.2M | $124K | $160K | 282 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 168 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | North Carolina | 7(a) program |
|---|---|---|---|
| Approvals in these years | 495 | 12,808 | 639,905 |
| Cancelled or never disbursed | 82 | 1,480 | 79,313 |
| Disbursed loans | 413 | 11,328 | 560,592 |
| Paid in full | 360 | 8,649 | 435,813 |
| Charged off | 3 | 705 | 36,891 |
| Still outstanding (status exempt from disclosure) | 50 | 1,974 | 87,888 |
| Charged off, share of disbursed loans | 0.7% | 6.2% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.5% | 1.8% | 2.5% |
| Dollars charged off | $1.4M | $111M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 19 | 11 | 0 | — | 2.8% |
| FY2020 | 14 | 10 | 0 | — | 4.0% |
| FY2019 | 22 | 16 | 0 | — | 6.7% |
| FY2018 | 40 | 34 | 0 | 0.0% | 7.9% |
| FY2017 | 39 | 31 | 0 | 0.0% | 7.7% |
| FY2016 | 35 | 28 | 0 | 0.0% | 7.2% |
| FY2015 | 40 | 38 | 0 | 0.0% | 6.9% |
| FY2014 | 35 | 34 | 0 | 0.0% | 6.4% |
| FY2013 | 51 | 48 | 0 | 0.0% | 6.0% |
| FY2012 | 29 | 26 | 1 | — | 6.3% |
| FY2011 | 44 | 39 | 2 | 4.5% | 6.9% |
| FY2010 | 45 | 45 | 0 | 0.0% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $182K | $190K |
| Average approval | $403K | $518K |
| Approvals of $150,000 or less | 44.4% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 43.0% | 34.3% |
| Approvals to franchise businesses | 2.7% | 11.5% |
| Jobs supported per approval, as reported | 5.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 0.7% | 6.6% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Carolina | 116 | $56.4M | 52.0% | |
| 2 | Virginia | 71 | $25.2M | 31.8% | |
| 3 | West Virginia | 33 | $5.2M | 14.8% | |
| 4 | Tennessee | 3 | $3.1M | 1.3% |
In North Carolina the lender accounts for 1.7% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (48 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Surry County, NC | 51 | $25.9M | 22.9% | |
| 2 | Wilkes County, NC | 22 | $10.1M | 9.9% | |
| 3 | Montgomery County, VA | 15 | $2.2M | 6.7% | |
| 4 | Mercer County, WV | 9 | $1.2M | 4.0% | |
| 5 | Washington County, VA | 8 | $4.6M | 3.6% | |
| 6 | Wake County, NC | 8 | $3.9M | 3.6% | |
| 7 | Patrick County, VA | 6 | $1.4M | 2.7% | |
| 8 | Henrico County, VA | 6 | $1.3M | 2.7% | |
| 9 | Richmond city, VA | 5 | $3.0M | 2.2% | |
| 10 | Yadkin County, NC | 5 | $1.5M | 2.2% | |
| 11 | Fayette County, WV | 5 | $846K | 2.2% | |
| 12 | Alexander County, NC | 5 | $539K | 2.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 38 | 17.0% | |
| 2 | Retail Trade | 32 | 14.3% | |
| 3 | Accommodation and Food Services | 29 | 13.0% | |
| 4 | Construction | 27 | 12.1% | |
| 5 | Manufacturing | 20 | 9.0% | |
| 6 | Other Services (except Public Administration) | 19 | 8.5% | |
| 7 | Health Care and Social Assistance | 12 | 5.4% | |
| 8 | Agriculture, Forestry, Fishing and Hunting | 9 | 4.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 19 | 8.5% | |
| 2 | General Freight TruckingNAICS 4841 | 18 | 8.1% | |
| 3 | Support Activities for Road TransportationNAICS 4884 | 17 | 7.6% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 4.0% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 3.1% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 7 | 3.1% | |
| 7 | Gasoline StationsNAICS 4571 | 6 | 2.7% | |
| 8 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 6 | 2.7% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 6 | 2.7% | |
| 10 | Personal Care ServicesNAICS 8121 | 6 | 2.7% |
Approval sizes
- $50,000 or less14.8%33
- $50,001 to $150,00029.6%66
- $150,001 to $350,00025.1%56
- $350,001 to $1 million21.5%48
- $1 million to $2 million6.7%15
- Over $2 million2.2%5
Loan terms
- 5 years or less9.4%21
- Over 5 to 10 years62.3%139
- Over 10 to 20 years13.5%30
- Over 20 years14.8%33
Age of the businesses
- Existing, more than 2 years old55.6%124
- New business, 2 years or less27.4%61
- Startup, loan funds will open the business15.7%35
- Change of ownership1.3%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 108 | 48.4% | |
| 2 | SBA Express Program | 104 | 46.6% | |
| 3 | 7a General | 8 | 3.6% | |
| 4 | Working Capital CAPLine | 2 | 0.9% | |
| 5 | Builders CAPLine | 1 | 0.4% |
Franchise share
6 of 223 approvals in FY2021–FY2025 (2.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Eggs Up Grill | 2 | 0.9% | |
| 2 | Microtel Inn & Suites by Wyndham | 1 | 0.4% | |
| 3 | Firehouse Subs | 1 | 0.4% | |
| 4 | Frutta Bowls | 1 | 0.4% | |
| 5 | Mason's Lobster | 1 | 0.4% |
Questions and answers
How many SBA loans does First Community Bank make?
SBA approved 104 7(a) loans through First Community Bank in FY2025, worth $45.3M, and 223 over FY2021 to FY2025. That ranks 170th of 2,184 active 7(a) lenders by number of approvals.
How large are First Community Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $182K and the average $403K. The program-wide median was $190K.
What is First Community Bank's charge-off rate?
Of 413 disbursed loans approved in FY2010 to FY2021, SBA records 3 as charged off (0.7%), 360 as paid in full and 50 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does First Community Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (19); general freight trucking (18); support activities for road transportation (17); other specialty trade contractors (9).
Where does First Community Bank make SBA loans?
In 4 states and territories. North Carolina 116, Virginia 71, West Virginia 33, Tennessee 3. In North Carolina it accounts for 1.7% of all 7(a) approvals.
Is First Community Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 182, against 55 in the three before: rising (+231%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error