SBA Ledger

States › Virginia

State1.7% of US approvals217 lenders active

SBA loans in Virginia

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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 5,893 small business loans in Virginia in FY2021 to FY2025: 5,209 under the 7(a) program and 684 under 504, worth $3.38bn together.

That is 27.9 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 1.7% of all approvals in the country (20th of 54 states and territories).

In FY2025 there were 1,623 approvals totalling $871M, up 24% on FY2024. The median 7(a) approval over the five years was $212K and the median 504 approval $484K.

217 lenders had at least one approval in the state; by number of 7(a) approvals the most active were Manufacturers and Traders Trust Company (504), The Huntington National Bank (382) and Wells Fargo Bank National Association (274).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 7.8% as charged off, against 6.6% nationally.

1,623approvals, FY20255,893 in FY2021–FY2025
$871Mapproved, FY2025$3.38bn in FY2021–FY2025
27.9approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$212Kmedian 7(a) approvalUS: $190K
7.8%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Virginia

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in VA, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Manufacturers and Traders Trust CompanyBuffalo, NY504$77.6M9.7%$50K8.0%
2The Huntington National BankColumbus, OH382$168M7.3%$92K5.7%
3Wells Fargo Bank National AssociationSioux Falls, SD274$39.3M5.3%$15K7.9%
4Northeast BankLewiston, ME269$37.2M5.2%$106K12.8%
5Newtek Bank, National AssociationMiami, FL256$105M4.9%$225K—
6Readycap Lending, LLCBerkeley Heights, NJ224$68.8M4.3%$138K4.3%
7TD Bank, National AssociationWilmington, DE186$23.6M3.6%$50K14.4%
8BayFirst National BankSaint Petersburg, FL185$33.1M3.6%$150K19.2%
9Live Oak Banking CompanyWilmington, NC184$248M3.5%$850K2.2%
10Newtek Small Business Finance, Inc.Lake Success, NY123$55.6M2.4%$300K6.8%
11The First Bank and Trust CompanyLebanon, VA118$79.0M2.3%$260K1.1%
12United Midwest Savings Bank National AssociationDe Graff, OH112$36.1M2.2%$150K15.9%
13Bank of America, National AssociationCharlotte, NC100$40.9M1.9%$300K2.6%
14First National Bank of PennsylvaniaGreenville, PA88$86.8M1.7%$621K9.2%
15Celtic Bank CorporationSalt Lake City, UT85$42.0M1.6%$150K17.0%
16Atlantic Union BankRichmond, VA82$60.3M1.6%$492K4.5%
17TowneBankPortsmouth, VA74$68.6M1.4%$638K3.3%
18First Community BankBluefield, VA71$25.2M1.4%$182K0.7%
19Truist BankCharlotte, NC65$75.4M1.2%$771K4.5%
20SouthState Bank, National AssociationWinter Haven, FL65$28.2M1.2%$350K2.8%
21Fulton Bank, National AssociationLancaster, PA62$39.7M1.2%$465K6.5%
22PNC Bank, National AssociationWilmington, DE57$24.3M1.1%$50K8.1%
23Bank of ClarkeBerryville, VA55$45.6M1.1%$500K—
24Capital Bank, National AssociationRockville, MD55$41.4M1.1%$312K6.5%
25First Bank of the LakeOsage Beach, MO54$37.9M1.0%$350K2.7%
26Citizens BankElizabethton, TN53$28.9M1.0%$495K5.4%
27Potomac BankCharles Town, WV53$17.7M1.0%$250K0.0%
28GBankLas Vegas, NV47$129M0.9%$2.2M1.7%
29Hanmi BankLos Angeles, CA44$38.5M0.8%$630K6.0%
30JPMorgan Chase Bank, National AssociationColumbus, OH44$12.0M0.8%$200K7.4%
31Pinnacle BankNashville, TN43$56.5M0.8%$745K6.0%
32John Marshall BankReston, VA41$22.4M0.8%$350K—
33Lendistry SBLC, LLCLos Angeles, CA41$6.4M0.8%$150K22.7%
34Byline BankChicago, IL33$36.8M0.6%$806K9.5%
35Wilmington Savings Fund Society FSBWilmington, DE30$23.4M0.6%$500K5.9%
36Primis BankTappahannock, VA28$11.0M0.5%$431K6.4%
37First-Citizens Bank & Trust CompanyRaleigh, NC27$30.9M0.5%$697K5.4%
38Bank of HopeLos Angeles, CA25$6.5M0.5%$350K6.5%
39Woori America BankNew York, NY24$30.6M0.5%$500K3.7%
40HomeTrust BankAsheville, NC23$23.3M0.4%$817K2.8%

504 certified development companies

#LenderApprovals in VA, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Business Finance Group, Inc.Fairfax, VA · 504 CDC353$307M51.6%$584K0.9%
2504 Capital CorporationChesapeake, VA · 504 CDC231$169M33.8%$537K0.5%
3Rappahannock Economic Development CorporationFredericksburg, VA · 504 CDC96$76.3M14.0%$580K0.7%
4Chesapeake Business Finance CorporationBethesda, MD · 504 CDC2—0.3%$926K4.8%
5Business Expansion Funding CorporationCharlotte, NC · 504 CDC1—0.1%$754K0.7%
6Florida First Capital Finance Corporation, Inc.Tallahassee, FL · 504 CDC1—0.1%$684K1.1%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*813$395M$200K71$77.1M8849,410
FY20251,497$757M$216K126$114M1,62317,710
FY20241,204$555M$178K106$83.9M1,31016,935
FY2023974$495M$200K99$92.3M1,07314,710
FY2022772$429M$200K149$123M92110,903
FY2021762$584M$323K204$143M96612,058
FY2020641$364M$200K140$110M7819,312
FY2019876$412M$150K133$95.5M1,00912,133
FY20181,033$449M$125K114$82.8M1,14713,365
FY20171,007$480M$150K121$81.5M1,12811,957
FY2016975$357M$120K94$64.1M1,06910,059

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Virginia by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Fairfax County1,001$456M31,93131.3
2Loudoun County525$274M12,56141.8
3Prince William County352$173M9,28637.9
4Virginia Beach city326$201M11,82227.6
5Chesterfield County251$150M8,25730.4
6Henrico County240$151M9,75424.6
7Chesapeake city211$120M5,86736.0
8Alexandria city194$102M4,49343.2
9Arlington County162$73.1M6,33425.6
10Richmond city155$52.7M6,53023.7
11Norfolk city131$70.1M5,39824.3
12Spotsylvania County118$74.0M2,81142.0
13Stafford County113$68.0M2,57044.0
14Hanover County104$66.5M3,41330.5
15Fairfax city95$41.5M2,02846.8
16Newport News city88$50.8M3,78823.2
17Manassas city66$29.3M1,50643.8
18James City County64$40.0M1,84134.8
19Roanoke city63$33.0M3,15120.0
20Albemarle County61$25.6M2,96320.6
21Fauquier County61$36.2M2,01530.3
22Frederick County56$47.5M1,69533.0
23Montgomery County56$31.5M2,01627.8
24Fredericksburg city54$28.9M1,47736.6
25Washington County52$28.9M1,20743.1
26Suffolk city48$44.4M1,79826.7
27Lynchburg city47$29.4M2,25120.9
28Portsmouth city45$16.0M1,59728.2
29Hampton city45$41.5M2,36219.1
30York County44$33.3M1,50329.3
31Roanoke County35$37.4M2,14516.3
32Rockingham County34$19.5M1,64820.6
33Charlottesville city33$31.3M2,07015.9
34Falls Church city33$12.4M88337.4
35Harrisonburg city32$20.6M1,69518.9
36Bedford County32$19.1M1,81817.6
37Winchester city29$19.2M1,37321.1
38Danville city29$30.6M1,22723.6
39Isle of Wight County29$10.9M76637.9
40Campbell County29$17.8M1,21623.8
41Culpeper County24$14.2M1,12621.3
42Salem city23$14.7M99423.1
43Louisa County23$16.2M68333.7
44Augusta County22$15.4M1,43915.3
45Wythe County21$39.6M69130.4
46Caroline County20$13.6M42447.2
47Petersburg city20$8.5M70728.3
48Warren County20$14.7M88222.7
49Carroll County18$9.1M43141.8
50Powhatan County17$11.4M74023.0
51Shenandoah County17$13.4M92218.4
52Staunton city17$10.2M76022.4
53Lancaster County16$19.5M45834.9
54Amherst County16$6.1M55328.9
55Colonial Heights city15$6.9M63023.8
56Botetourt County14$18.0M77618.0
57Goochland County14$5.3M75618.5
58Prince George County13$7.7M46627.9
59Accomack County13$13.0M71118.3
60New Kent County13$7.9M45828.4
61Franklin County13$17.6M1,23810.5
62Bristol city13$5.6M53324.4
63Halifax County11$17.7M65616.8
64Gloucester County11$11.5M86812.7
65Clarke County11$7.7M37729.2
66Pulaski County11$7.6M64117.2
67Smyth County11$5.6M49922.0
68Orange County10$4.4M72413.8
69Manassas Park city10$1.4M33729.7
70Galax city10$4.7M31132.2
71Mecklenburg County9$6.8M79311.3
72Waynesboro city9$12.6M62014.5
73Prince Edward County9$7.9M49618.1
74Essex County9$9.4M30929.1
75Williamsburg city9$8.8M55316.3
76Northampton County9$5.7M32727.5
77Grayson County9$12.2M17352.0
78Fluvanna County8$3.6M42019.0
79Franklin city8$10.1M26330.4
80Rockbridge County8$11.9M45817.5
81Patrick County7$1.4M26626.3
82Pittsylvania County7$2.0M8798.0
83Appomattox County7$2.0M31921.9
84Norton city7$4.1M19136.6
85Hopewell city7$2.4M39617.7
86Radford city7$8.5M28924.2
87Amelia County7$5.8M27325.6
88Westmoreland County7$10.4M33820.7
89Tazewell County6$4.1M8956.7
90King William County6$2.6M35916.7
91King George County6$4.5M49612.1
92Southampton County6$1.8M20928.7
93Greene County5$3.5M38413.0
94Henry County5$2.9M8036.2
95Richmond County5$1.8M19525.6
96Floyd County5$2.2M33914.7
97Buckingham County5$5.8M25719.5
98Sussex County5$3.0M18427.2
99Giles County4$1.2M29913.4
100Greensville County4$5.3M10040.0
101Charlotte County4$1.8M22018.2
102Rappahannock County4$828K19720.3
103Lee County4$2.1M24216.5
104Emporia city4$3.1M21818.3
105Wise County3$4.6M6074.9
106Nelson County3$460K3728.1
107Madison County3$618K28310.6
108King and Queen County3$2.3M11725.6
109Northumberland County3$625K3069.8
110Dickenson County3$219K18416.3
111Brunswick County3$2.6M25411.8
112Page County3$506K4416.8
113Poquoson city3$1.0M22313.5
114Martinsville city3$3.9M5115.9
115Lexington city3$599K25311.9
116Charles City County3$3.8M15319.6
117Bland County3$8.2M7042.9
118Craig County3$2.4M6446.9
119Russell County2—4364.6
120Nottoway County2—2996.7
121Dinwiddie County2—3965.1
122Buena Vista city2—10918.3
123Alleghany County2—2418.3
124Buchanan County2—3435.8
125Mathews County2—19110.5
126Cumberland County2—14513.8
127Scott County1—2603.8
128Covington city1—1975.1
129Middlesex County1—3063.3
130Surry County1—8711.5

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225567$300M9.6%
2Offices of Other Health PractitionersNAICS 6213227$66.6M3.9%
3Computer Systems Design and Related ServicesNAICS 5415224$121M3.8%
4Personal Care ServicesNAICS 8121223$64.0M3.8%
5Other Amusement and Recreation IndustriesNAICS 7139220$133M3.7%
6Automotive Repair and MaintenanceNAICS 8111205$131M3.5%
7Services to Buildings and DwellingsNAICS 5617179$51.1M3.0%
8Management, Scientific, and Technical Consulting ServicesNAICS 5416170$72.8M2.9%
9Traveler AccommodationNAICS 7211155$413M2.6%
10Residential Building ConstructionNAICS 2361143$51.4M2.4%
11Other Specialty Trade ContractorsNAICS 2389134$86.8M2.3%
12Other Personal ServicesNAICS 8129126$58.1M2.1%
13Child Day Care ServicesNAICS 6244121$135M2.1%
14Other Professional, Scientific, and Technical ServicesNAICS 5419119$77.9M2.0%
15Building Equipment ContractorsNAICS 2382119$71.3M2.0%

Sectors

#NAICS sectorApprovalsShare
1Professional, Scientific, and Technical Services81813.9%
2Accommodation and Food Services78313.3%
3Health Care and Social Assistance70411.9%
4Other Services (except Public Administration)63310.7%
5Construction62710.6%
6Retail Trade5679.6%
7Administrative and Support and Waste Management and Remediation Services3325.6%
8Manufacturing2925.0%
9Arts, Entertainment, and Recreation2684.5%
10Transportation and Warehousing2644.5%

Franchise brands

#BrandApprovalsShare
1Quality Inn180.3%
2Super 8 by Wyndhan140.2%
3The Learning Experience130.2%
4Nothing Bundt Cakes130.2%
5Hotworx120.2%
6The UPS Store120.2%
7The Goddard School100.2%
8Firehouse Subs100.2%
9Glass Doctor90.2%
10Country Inn and Suites by Radisson80.1%

How earlier loans turned out

Virginia, 7(a)7.8%
United States, 7(a)6.6%
Virginia, 5040.8%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021VA 7(a)US 7(a)VA 504US 504
Approvals in these years9,784639,9051,58885,591
Cancelled or never disbursed1,25979,31330512,514
Disbursed loans8,525560,5921,28373,077
Paid in full6,432435,81350435,491
Charged off66536,89110905
Still outstanding (status exempt from disclosure)1,42887,88876936,681
Charged off, share of disbursed loans7.8%6.6%0.8%1.2%
Dollars charged off, share of disbursed dollars3.2%2.5%0.6%0.9%
Dollars charged off$121M$5.70bn$4.7M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025VirginiaUnited States
Approvals per 1,000 establishments27.941.0
Median 7(a) approval$212K$190K
Median 504 approval$484K$657K
504 share of approvals11.6%11.0%
Jobs supported per approval, as reported12.310.5
Approvals, change on FY2016–FY202015%10%

Questions and answers

Which lenders make the most SBA loans in Virginia?

By 7(a) approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (504), The Huntington National Bank (382), Wells Fargo Bank National Association (274), Northeast Bank (269), Newtek Bank, National Association (256). For 504 loans: Business Finance Group, Inc. (353), 504 Capital Corporation (231), Rappahannock Economic Development Corporation (96). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Virginia?

The median 7(a) approval was $212K and the median 504 approval $484K; the average across both programs was $573K.

Which industries get the most SBA loans in Virginia?

Restaurants and Other Eating Places (567); Offices of Other Health Practitioners (227); Computer Systems Design and Related Services (224); Personal Care Services (223); Other Amusement and Recreation Industries (220).

Which Virginia counties receive the most SBA loans?

Fairfax County (1,001), Loudoun County (525), Prince William County (352), Virginia Beach city (326), Chesterfield County (251), by approvals in FY2021 to FY2025.

Is SBA lending in Virginia rising?

Approvals in the three latest complete fiscal years total 4,006, against 2,668 in the three before: rising (+50%).

What share of SBA loans in Virginia are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 7.8% are recorded as charged off (national: 6.6%); for 504 loans the figure is 0.8% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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