FY20191 Oct 2018 – 30 Sep 2019
SBA loans in Virginia, FY2019
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 FY2019 (1 October 2018 to 30 September 2019) SBA approved 1,009 loans in Virginia: 876 under 7(a) and 133 under 504, worth $507M.
That is down 12% on FY2018, when there were 1,147 approvals worth $532M.
Virginia accounted for 1.7% of the 58,006 approvals nationwide that year. 114 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 118.
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 FY2019, of 114 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 7(a) | 118 | $24.4M | 11.7% | 101 | +17 |
| 2 | TD Bank, National Association | 7(a) | 72 | $8.9M | 7.1% | 112 | -40 |
| 3 | Wells Fargo Bank National Association | 7(a) | 71 | $14.7M | 7.0% | 116 | -45 |
| 4 | Business Finance Group, Inc. | 504 | 69 | $53.6M | 6.8% | 58 | +11 |
| 5 | Truist Bank | 7(a) | 53 | $28.7M | 5.3% | 56 | -3 |
| 6 | BayFirst National Bank | 7(a) | 46 | $10.3M | 4.6% | 17 | +29 |
| 7 | 504 Capital Corporation | 504 | 45 | $23.1M | 4.5% | 44 | +1 |
| 8 | Live Oak Banking Company | 7(a) | 34 | $72.9M | 3.4% | 24 | +10 |
| 9 | Stearns Bank National Association | 7(a) | 28 | $8.1M | 2.8% | 21 | +7 |
| 10 | Locus Bank Inc | 7(a) | 24 | $7.1M | 2.4% | 18 | +6 |
| 11 | Newtek Small Business Finance, Inc. | 7(a) | 23 | $19.3M | 2.3% | 21 | +2 |
| 12 | PNC Bank, National Association | 7(a) | 20 | $2.2M | 2.0% | 16 | +4 |
| 13 | The First Bank and Trust Company | 7(a) | 19 | $8.1M | 1.9% | 9 | +10 |
| 14 | Atlantic Union Bank | 7(a) | 16 | $8.2M | 1.6% | 28 | -12 |
| 15 | Primis Bank | 7(a) | 16 | $6.4M | 1.6% | 26 | -10 |
| 16 | United Midwest Savings Bank National Association | 7(a) | 16 | $5.4M | 1.6% | 28 | -12 |
| 17 | Rappahannock Economic Development Corporation | 504 | 15 | $14.0M | 1.5% | 12 | +3 |
| 18 | Capital Bank, National Association | 7(a) | 15 | $6.4M | 1.5% | 16 | -1 |
| 19 | SouthState Bank, National Association | 7(a) | 15 | $6.1M | 1.5% | 1 | +14 |
| 20 | Celtic Bank Corporation | 7(a) | 15 | $5.6M | 1.5% | 36 | -21 |
| 21 | Northeast Bank | 7(a) | 15 | $2.0M | 1.5% | 19 | -4 |
| 22 | TowneBank | 7(a) | 14 | $7.9M | 1.4% | 15 | -1 |
| 23 | Hanmi Bank | 7(a) | 12 | $4.5M | 1.2% | 15 | -3 |
| 24 | Bank of America, National Association | 7(a) | 11 | $4.2M | 1.1% | 4 | +7 |
| 25 | Bank of Hope | 7(a) | 11 | $2.4M | 1.1% | 5 | +6 |
| 26 | EagleBank | 7(a) | 9 | $3.6M | 0.9% | 16 | -7 |
| 27 | Independence Bank | 7(a) | 9 | $1.2M | 0.9% | 28 | -19 |
| 28 | BayPort Federal Credit Union | 7(a) | 9 | $865K | 0.9% | 8 | +1 |
| 29 | Five Star Bank | 7(a) | 8 | $2.2M | 0.8% | 9 | -1 |
| 30 | First National Bank of Pennsylvania | 7(a) | 7 | $4.3M | 0.7% | 15 | -8 |
| 31 | Firstrust Savings Bank | 7(a) | 7 | $4.1M | 0.7% | 2 | +5 |
| 32 | The Huntington National Bank | 7(a) | 6 | $4.2M | 0.6% | 4 | +2 |
| 33 | Beacon Bank and Trust | 7(a) | 5 | $7.0M | 0.5% | 10 | -5 |
| 34 | Fulton Bank, National Association | 7(a) | 5 | $5.1M | 0.5% | 15 | -10 |
| 35 | Readycap Lending, LLC | 7(a) | 5 | $3.7M | 0.5% | 9 | -4 |
| 36 | Seacoast National Bank | 7(a) | 5 | $945K | 0.5% | 7 | -2 |
| 37 | Skyline National Bank | 7(a) | 5 | $393K | 0.5% | 11 | -6 |
| 38 | Wilmington Savings Fund Society FSB | 7(a) | 4 | $2.5M | 0.4% | 4 | 0 |
| 39 | United Community Bank | 7(a) | 4 | $2.1M | 0.4% | 9 | -5 |
| 40 | First-Citizens Bank & Trust Company | 7(a) | 4 | $1.9M | 0.4% | 13 | -9 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 204 | $86.6M | 20.2% | 230 | -26 |
| 2 | Loudoun County | 96 | $57.2M | 9.5% | 86 | +10 |
| 3 | Prince William County | 67 | $29.1M | 6.6% | 95 | -28 |
| 4 | Henrico County | 47 | $33.6M | 4.7% | 46 | +1 |
| 5 | Arlington County | 44 | $18.4M | 4.4% | 40 | +4 |
| 6 | Virginia Beach city | 44 | $21.3M | 4.4% | 71 | -27 |
| 7 | Chesterfield County | 37 | $10.0M | 3.7% | 44 | -7 |
| 8 | Alexandria city | 35 | $24.8M | 3.5% | 30 | +5 |
| 9 | Richmond city | 32 | $14.3M | 3.2% | 41 | -9 |
| 10 | Chesapeake city | 29 | $18.5M | 2.9% | 41 | -12 |
| 11 | Norfolk city | 24 | $14.2M | 2.4% | 17 | +7 |
| 12 | James City County | 19 | $5.1M | 1.9% | 11 | +8 |
| 13 | Manassas city | 18 | $4.8M | 1.8% | 15 | +3 |
| 14 | Fauquier County | 15 | $3.8M | 1.5% | 9 | +6 |
| 15 | Stafford County | 13 | $8.7M | 1.3% | 24 | -11 |
| 16 | Hanover County | 10 | $3.5M | 1.0% | 25 | -15 |
| 17 | Roanoke County | 10 | $5.3M | 1.0% | 7 | +3 |
| 18 | Portsmouth city | 10 | $1.9M | 1.0% | 3 | +7 |
| 19 | Suffolk city | 10 | $2.9M | 1.0% | 12 | -2 |
| 20 | Newport News city | 9 | $4.9M | 0.9% | 13 | -4 |
| 21 | Fairfax city | 9 | $5.0M | 0.9% | 12 | -3 |
| 22 | Fredericksburg city | 9 | $2.4M | 0.9% | 10 | -1 |
| 23 | Hampton city | 9 | $3.7M | 0.9% | 6 | +3 |
| 24 | Albemarle County | 8 | $2.2M | 0.8% | 12 | -4 |
| 25 | Spotsylvania County | 8 | $5.2M | 0.8% | 11 | -3 |
| 26 | Roanoke city | 8 | $3.0M | 0.8% | 14 | -6 |
| 27 | Montgomery County | 8 | $1.4M | 0.8% | 10 | -2 |
| 28 | Harrisonburg city | 7 | $6.8M | 0.7% | 10 | -3 |
| 29 | Powhatan County | 7 | $8.3M | 0.7% | 3 | +4 |
| 30 | Rockingham County | 6 | $2.7M | 0.6% | 5 | +1 |
| 31 | Frederick County | 6 | $857K | 0.6% | 7 | -1 |
| 32 | Bedford County | 6 | $2.8M | 0.6% | 11 | -5 |
| 33 | Washington County | 6 | $4.0M | 0.6% | 6 | 0 |
| 34 | Charlottesville city | 5 | $3.0M | 0.5% | 5 | 0 |
| 35 | Prince George County | 5 | $921K | 0.5% | 2 | +3 |
| 36 | Augusta County | 5 | $4.7M | 0.5% | 7 | -2 |
| 37 | Warren County | 5 | $866K | 0.5% | 1 | +4 |
| 38 | York County | 5 | $740K | 0.5% | 5 | 0 |
| 39 | Amherst County | 5 | $1.4M | 0.5% | 0 | new |
| 40 | Essex County | 5 | $5.7M | 0.5% | 1 | +4 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2019 against FY2018
| Virginia | FY2019 | FY2018 |
|---|---|---|
| 7(a) approvals | 876 | 1,033 |
| 7(a) dollars | $412M | $449M |
| Median 7(a) approval | $150K | $125K |
| 504 approvals | 133 | 114 |
| 504 dollars | $95.5M | $82.8M |
| Jobs supported, as reported | 12,133 | 13,365 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2019?
Manufacturers and Traders Trust Company (118), TD Bank, National Association (72), Wells Fargo Bank National Association (71), Business Finance Group, Inc. (69), Truist Bank (53). 114 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2019?
1,009: 876 under 7(a) worth $412M and 133 under 504 worth $95.5M.
Which Virginia counties had the most SBA approvals in FY2019?
Fairfax County (204), Loudoun County (96), Prince William County (67), Henrico County (47), Arlington County (44).
When does FY2019 start and end?
The federal fiscal year 2019 runs from 1 October 2018 to 30 September 2019.
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