FY20181 Oct 2017 – 30 Sep 2018
SBA loans in Virginia, FY2018
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 FY2018 (1 October 2017 to 30 September 2018) SBA approved 1,147 loans in Virginia: 1,033 under 7(a) and 114 under 504, worth $532M.
That is about level with FY2017, when there were 1,128 approvals worth $562M.
Virginia accounted for 1.7% of the 66,228 approvals nationwide that year. 109 lenders had at least one approval in the state; Wells Fargo Bank National Association had the most, 116.
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 FY2018, of 109 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 7(a) | 116 | $30.2M | 10.1% | 137 | -21 |
| 2 | TD Bank, National Association | 7(a) | 112 | $5.9M | 9.8% | 55 | +57 |
| 3 | Manufacturers and Traders Trust Company | 7(a) | 101 | $19.7M | 8.8% | 106 | -5 |
| 4 | Business Finance Group, Inc. | 504 | 58 | $50.9M | 5.1% | 61 | -3 |
| 5 | Truist Bank | 7(a) | 56 | $25.6M | 4.9% | 74 | -18 |
| 6 | 504 Capital Corporation | 504 | 44 | $20.1M | 3.8% | 44 | 0 |
| 7 | Celtic Bank Corporation | 7(a) | 36 | $19.1M | 3.1% | 32 | +4 |
| 8 | Atlantic Union Bank | 7(a) | 28 | $17.3M | 2.4% | 65 | -37 |
| 9 | United Midwest Savings Bank National Association | 7(a) | 28 | $5.1M | 2.4% | 7 | +21 |
| 10 | Independence Bank | 7(a) | 28 | $3.0M | 2.4% | 17 | +11 |
| 11 | Primis Bank | 7(a) | 26 | $6.5M | 2.3% | 63 | -37 |
| 12 | Live Oak Banking Company | 7(a) | 24 | $39.4M | 2.1% | 42 | -18 |
| 13 | Newtek Small Business Finance, Inc. | 7(a) | 21 | $13.4M | 1.8% | 15 | +6 |
| 14 | Stearns Bank National Association | 7(a) | 21 | $4.4M | 1.8% | 30 | -9 |
| 15 | Northeast Bank | 7(a) | 19 | $1.9M | 1.7% | 11 | +8 |
| 16 | Locus Bank Inc | 7(a) | 18 | $4.7M | 1.6% | 20 | -2 |
| 17 | BayFirst National Bank | 7(a) | 17 | $3.7M | 1.5% | 22 | -5 |
| 18 | EagleBank | 7(a) | 16 | $10.8M | 1.4% | 19 | -3 |
| 19 | Capital Bank, National Association | 7(a) | 16 | $9.8M | 1.4% | 8 | +8 |
| 20 | PNC Bank, National Association | 7(a) | 16 | $1.6M | 1.4% | 13 | +3 |
| 21 | First National Bank of Pennsylvania | 7(a) | 15 | $15.3M | 1.3% | 11 | +4 |
| 22 | TowneBank | 7(a) | 15 | $10.2M | 1.3% | 13 | +2 |
| 23 | Fulton Bank, National Association | 7(a) | 15 | $8.8M | 1.3% | 10 | +5 |
| 24 | Hanmi Bank | 7(a) | 15 | $4.9M | 1.3% | 12 | +3 |
| 25 | First-Citizens Bank & Trust Company | 7(a) | 13 | $6.0M | 1.1% | 12 | +1 |
| 26 | Rappahannock Economic Development Corporation | 504 | 12 | $11.8M | 1.0% | 12 | 0 |
| 27 | First Bank | 7(a) | 11 | $13.1M | 1.0% | 2 | +9 |
| 28 | Skyline National Bank | 7(a) | 11 | $948K | 1.0% | 3 | +8 |
| 29 | Beacon Bank and Trust | 7(a) | 10 | $8.9M | 0.9% | 3 | +7 |
| 30 | United Community Bank | 7(a) | 9 | $12.4M | 0.8% | 3 | +6 |
| 31 | Readycap Lending, LLC | 7(a) | 9 | $9.3M | 0.8% | 1 | +8 |
| 32 | The First Bank and Trust Company | 7(a) | 9 | $5.9M | 0.8% | 14 | -5 |
| 33 | Five Star Bank | 7(a) | 9 | $2.3M | 0.8% | 0 | new |
| 34 | BayPort Federal Credit Union | 7(a) | 8 | $2.7M | 0.7% | 5 | +3 |
| 35 | Capital One National Association | 7(a) | 8 | $2.1M | 0.7% | 9 | -1 |
| 36 | Virginia National Bank | 7(a) | 8 | $1.7M | 0.7% | 10 | -2 |
| 37 | BankUnited, National Association | 7(a) | 7 | $8.0M | 0.6% | 4 | +3 |
| 38 | Burke & Herbert Bank & Trust Company | 7(a) | 7 | $917K | 0.6% | 3 | +4 |
| 39 | Seacoast National Bank | 7(a) | 7 | $765K | 0.6% | 0 | new |
| 40 | Byline Bank | 7(a) | 5 | $6.2M | 0.4% | 2 | +3 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 230 | $102M | 20.1% | 201 | +29 |
| 2 | Prince William County | 95 | $40.7M | 8.3% | 78 | +17 |
| 3 | Loudoun County | 86 | $40.1M | 7.5% | 111 | -25 |
| 4 | Virginia Beach city | 71 | $33.7M | 6.2% | 62 | +9 |
| 5 | Henrico County | 46 | $20.6M | 4.0% | 53 | -7 |
| 6 | Chesterfield County | 44 | $17.8M | 3.8% | 58 | -14 |
| 7 | Richmond city | 41 | $21.5M | 3.6% | 35 | +6 |
| 8 | Chesapeake city | 41 | $18.7M | 3.6% | 32 | +9 |
| 9 | Arlington County | 40 | $6.4M | 3.5% | 27 | +13 |
| 10 | Alexandria city | 30 | $11.7M | 2.6% | 28 | +2 |
| 11 | Hanover County | 25 | $13.5M | 2.2% | 23 | +2 |
| 12 | Stafford County | 24 | $8.4M | 2.1% | 27 | -3 |
| 13 | Norfolk city | 17 | $13.7M | 1.5% | 21 | -4 |
| 14 | Manassas city | 15 | $10.8M | 1.3% | 20 | -5 |
| 15 | Roanoke city | 14 | $8.5M | 1.2% | 8 | +6 |
| 16 | Newport News city | 13 | $10.2M | 1.1% | 18 | -5 |
| 17 | Albemarle County | 12 | $5.2M | 1.0% | 11 | +1 |
| 18 | Fairfax city | 12 | $7.6M | 1.0% | 1 | +11 |
| 19 | Suffolk city | 12 | $2.6M | 1.0% | 9 | +3 |
| 20 | James City County | 11 | $11.0M | 1.0% | 10 | +1 |
| 21 | Spotsylvania County | 11 | $5.3M | 1.0% | 12 | -1 |
| 22 | Bedford County | 11 | $3.4M | 1.0% | 4 | +7 |
| 23 | Harrisonburg city | 10 | $1.7M | 0.9% | 5 | +5 |
| 24 | Fredericksburg city | 10 | $2.3M | 0.9% | 10 | 0 |
| 25 | Montgomery County | 10 | $2.1M | 0.9% | 10 | 0 |
| 26 | Fauquier County | 9 | $4.5M | 0.8% | 5 | +4 |
| 27 | Winchester city | 7 | $2.6M | 0.6% | 9 | -2 |
| 28 | Accomack County | 7 | $5.9M | 0.6% | 19 | -12 |
| 29 | Augusta County | 7 | $3.1M | 0.6% | 6 | +1 |
| 30 | Frederick County | 7 | $6.0M | 0.6% | 7 | 0 |
| 31 | Roanoke County | 7 | $2.2M | 0.6% | 12 | -5 |
| 32 | Lynchburg city | 7 | $1.2M | 0.6% | 13 | -6 |
| 33 | Botetourt County | 6 | $720K | 0.5% | 3 | +3 |
| 34 | Hampton city | 6 | $3.5M | 0.5% | 7 | -1 |
| 35 | Washington County | 6 | $1.5M | 0.5% | 3 | +3 |
| 36 | Charlottesville city | 5 | $4.2M | 0.4% | 12 | -7 |
| 37 | Rockingham County | 5 | $2.5M | 0.4% | 3 | +2 |
| 38 | York County | 5 | $7.1M | 0.4% | 7 | -2 |
| 39 | Carroll County | 5 | $1.2M | 0.4% | 0 | new |
| 40 | Staunton city | 5 | $1.8M | 0.4% | 3 | +2 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2018 against FY2017
| Virginia | FY2018 | FY2017 |
|---|---|---|
| 7(a) approvals | 1,033 | 1,007 |
| 7(a) dollars | $449M | $480M |
| Median 7(a) approval | $125K | $150K |
| 504 approvals | 114 | 121 |
| 504 dollars | $82.8M | $81.5M |
| Jobs supported, as reported | 13,365 | 11,957 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2018?
Wells Fargo Bank National Association (116), TD Bank, National Association (112), Manufacturers and Traders Trust Company (101), Business Finance Group, Inc. (58), Truist Bank (56). 109 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2018?
1,147: 1,033 under 7(a) worth $449M and 114 under 504 worth $82.8M.
Which Virginia counties had the most SBA approvals in FY2018?
Fairfax County (230), Prince William County (95), Loudoun County (86), Virginia Beach city (71), Henrico County (46).
When does FY2018 start and end?
The federal fiscal year 2018 runs from 1 October 2017 to 30 September 2018.
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