FY20161 Oct 2015 – 30 Sep 2016
SBA loans in Virginia, FY2016
That fiscal year's approvals by lender and by county.
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.
In FY2016 (1 October 2015 to 30 September 2016) SBA approved 1,069 loans in Virginia: 975 under 7(a) and 94 under 504, worth $421M.
That is about level with FY2015, when there were 1,009 approvals worth $478M.
Virginia accounted for 1.5% of the 70,012 approvals nationwide that year. 92 lenders had at least one approval in the state; Wells Fargo Bank National Association had the most, 262.
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.
Approvals by lender
The 40 lenders with the most approvals to Virginia businesses in FY2016, of 92 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 7(a) | 262 | $35.7M | 24.5% | 183 | +79 |
| 2 | Manufacturers and Traders Trust Company | 7(a) | 108 | $20.8M | 10.1% | 63 | +45 |
| 3 | Truist Bank | 7(a) | 64 | $27.1M | 6.0% | 116 | -52 |
| 4 | Business Finance Group, Inc. | 504 | 50 | $42.5M | 4.7% | 65 | -15 |
| 5 | Atlantic Union Bank | 7(a) | 45 | $14.4M | 4.2% | 44 | +1 |
| 6 | Primis Bank | 7(a) | 42 | $13.0M | 3.9% | 55 | -13 |
| 7 | Live Oak Banking Company | 7(a) | 38 | $57.3M | 3.6% | 27 | +11 |
| 8 | Celtic Bank Corporation | 7(a) | 36 | $6.7M | 3.4% | 35 | +1 |
| 9 | 504 Capital Corporation | 504 | 32 | $13.0M | 3.0% | 26 | +6 |
| 10 | BayFirst National Bank | 7(a) | 21 | $5.0M | 2.0% | 1 | +20 |
| 11 | First National Bank of Pennsylvania | 7(a) | 20 | $17.2M | 1.9% | 26 | -6 |
| 12 | TD Bank, National Association | 7(a) | 20 | $2.0M | 1.9% | 24 | -4 |
| 13 | Stearns Bank National Association | 7(a) | 19 | $3.7M | 1.8% | 12 | +7 |
| 14 | EagleBank | 7(a) | 18 | $9.3M | 1.7% | 15 | +3 |
| 15 | Capital One National Association | 7(a) | 18 | $4.3M | 1.7% | 21 | -3 |
| 16 | Fulton Bank, National Association | 7(a) | 14 | $3.8M | 1.3% | 17 | -3 |
| 17 | PNC Bank, National Association | 7(a) | 12 | $2.6M | 1.1% | 18 | -6 |
| 18 | Rappahannock Economic Development Corporation | 504 | 11 | $8.0M | 1.0% | 8 | +3 |
| 19 | First Financial Bank | 7(a) | 11 | $6.2M | 1.0% | 1 | +10 |
| 20 | Langley FCU | 7(a) | 11 | $987K | 1.0% | 6 | +5 |
| 21 | University of Virginia Community Credit Union Inc | 7(a) | 11 | $377K | 1.0% | 12 | -1 |
| 22 | Newtek Small Business Finance, Inc. | 7(a) | 9 | $5.9M | 0.8% | 8 | +1 |
| 23 | TowneBank | 7(a) | 9 | $3.8M | 0.8% | 7 | +2 |
| 24 | Virginia National Bank | 7(a) | 9 | $2.6M | 0.8% | 9 | 0 |
| 25 | BayPort Federal Credit Union | 7(a) | 9 | $1.2M | 0.8% | 6 | +3 |
| 26 | Capital Bank, National Association | 7(a) | 8 | $7.4M | 0.7% | 4 | +4 |
| 27 | Northeast Bank | 7(a) | 8 | $6.7M | 0.7% | 0 | new |
| 28 | The First Bank and Trust Company | 7(a) | 7 | $15.5M | 0.7% | 5 | +2 |
| 29 | PCB Bank | 7(a) | 7 | $7.0M | 0.7% | 4 | +3 |
| 30 | Locus Bank Inc | 7(a) | 7 | $2.6M | 0.7% | 0 | new |
| 31 | Metro City Bank | 7(a) | 6 | $9.3M | 0.6% | 7 | -1 |
| 32 | BankUnited, National Association | 7(a) | 6 | $7.0M | 0.6% | 4 | +2 |
| 33 | Bank Five Nine | 7(a) | 5 | $5.0M | 0.5% | 1 | +4 |
| 34 | The Bancorp Bank National Association | 7(a) | 5 | $4.2M | 0.5% | 7 | -2 |
| 35 | United Community Bank | 7(a) | 5 | $4.1M | 0.5% | 5 | 0 |
| 36 | Hanmi Bank | 7(a) | 5 | $2.6M | 0.5% | 5 | 0 |
| 37 | First Community Bank | 7(a) | 5 | $814K | 0.5% | 4 | +1 |
| 38 | The Huntington National Bank | 7(a) | 4 | $2.1M | 0.4% | 1 | +3 |
| 39 | Simmons Bank | 7(a) | 4 | $872K | 0.4% | 10 | -6 |
| 40 | Bank of Hope | 7(a) | 4 | $850K | 0.4% | 4 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 183 | $56.6M | 17.1% | 169 | +14 |
| 2 | Loudoun County | 108 | $41.7M | 10.1% | 75 | +33 |
| 3 | Prince William County | 73 | $24.0M | 6.8% | 60 | +13 |
| 4 | Henrico County | 57 | $18.1M | 5.3% | 50 | +7 |
| 5 | Chesterfield County | 47 | $21.1M | 4.4% | 40 | +7 |
| 6 | Virginia Beach city | 44 | $9.2M | 4.1% | 57 | -13 |
| 7 | Richmond city | 35 | $15.9M | 3.3% | 37 | -2 |
| 8 | Alexandria city | 32 | $17.2M | 3.0% | 47 | -15 |
| 9 | Hanover County | 31 | $23.0M | 2.9% | 32 | -1 |
| 10 | Arlington County | 30 | $9.9M | 2.8% | 30 | 0 |
| 11 | Chesapeake city | 29 | $6.7M | 2.7% | 24 | +5 |
| 12 | Norfolk city | 18 | $3.6M | 1.7% | 21 | -3 |
| 13 | Manassas city | 18 | $4.6M | 1.7% | 5 | +13 |
| 14 | Accomack County | 18 | $31.4M | 1.7% | 9 | +9 |
| 15 | Albemarle County | 17 | $6.3M | 1.6% | 13 | +4 |
| 16 | Stafford County | 17 | $4.0M | 1.6% | 16 | +1 |
| 17 | Newport News city | 16 | $2.4M | 1.5% | 25 | -9 |
| 18 | Charlottesville city | 15 | $3.0M | 1.4% | 15 | 0 |
| 19 | Fredericksburg city | 15 | $9.6M | 1.4% | 14 | +1 |
| 20 | Roanoke city | 14 | $5.8M | 1.3% | 9 | +5 |
| 21 | Fauquier County | 12 | $2.8M | 1.1% | 16 | -4 |
| 22 | Fairfax city | 10 | $1.9M | 0.9% | 12 | -2 |
| 23 | Frederick County | 10 | $5.0M | 0.9% | 9 | +1 |
| 24 | Lynchburg city | 9 | $3.2M | 0.8% | 2 | +7 |
| 25 | York County | 8 | $2.1M | 0.7% | 5 | +3 |
| 26 | Rockingham County | 7 | $2.6M | 0.7% | 6 | +1 |
| 27 | Gloucester County | 7 | $1.3M | 0.7% | 5 | +2 |
| 28 | Bedford County | 7 | $671K | 0.7% | 3 | +4 |
| 29 | Montgomery County | 7 | $3.3M | 0.7% | 7 | 0 |
| 30 | Culpeper County | 7 | $3.0M | 0.7% | 6 | +1 |
| 31 | Hampton city | 7 | $568K | 0.7% | 12 | -5 |
| 32 | James City County | 6 | $345K | 0.6% | 6 | 0 |
| 33 | Augusta County | 6 | $3.9M | 0.6% | 0 | new |
| 34 | Falls Church city | 6 | $3.2M | 0.6% | 6 | 0 |
| 35 | Goochland County | 6 | $1.6M | 0.6% | 1 | +5 |
| 36 | Harrisonburg city | 5 | $3.4M | 0.5% | 7 | -2 |
| 37 | Spotsylvania County | 5 | $5.1M | 0.5% | 8 | -3 |
| 38 | Shenandoah County | 5 | $4.2M | 0.5% | 1 | +4 |
| 39 | Roanoke County | 5 | $2.2M | 0.5% | 2 | +3 |
| 40 | Warren County | 4 | $1.8M | 0.4% | 7 | -3 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2016 against FY2015
| Virginia | FY2016 | FY2015 |
|---|---|---|
| 7(a) approvals | 975 | 909 |
| 7(a) dollars | $357M | $411M |
| Median 7(a) approval | $120K | $150K |
| 504 approvals | 94 | 100 |
| 504 dollars | $64.1M | $67.2M |
| Jobs supported, as reported | 10,059 | 11,960 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2016?
Wells Fargo Bank National Association (262), Manufacturers and Traders Trust Company (108), Truist Bank (64), Business Finance Group, Inc. (50), Atlantic Union Bank (45). 92 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2016?
1,069: 975 under 7(a) worth $357M and 94 under 504 worth $64.1M.
Which Virginia counties had the most SBA approvals in FY2016?
Fairfax County (183), Loudoun County (108), Prince William County (73), Henrico County (57), Chesterfield County (47).
When does FY2016 start and end?
The federal fiscal year 2016 runs from 1 October 2015 to 30 September 2016.
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