FY20201 Oct 2019 – 30 Sep 2020
SBA loans in Virginia, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 781 loans in Virginia: 641 under 7(a) and 140 under 504, worth $474M.
That is down 23% on FY2019, when there were 1,009 approvals worth $507M.
Virginia accounted for 1.6% of the 49,417 approvals nationwide that year. 113 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 80.
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 FY2020, of 113 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 7(a) | 80 | $13.1M | 10.2% | 118 | -38 |
| 2 | Business Finance Group, Inc. | 504 | 65 | $61.4M | 8.3% | 69 | -4 |
| 3 | 504 Capital Corporation | 504 | 55 | $32.0M | 7.0% | 45 | +10 |
| 4 | Wells Fargo Bank National Association | 7(a) | 54 | $10.6M | 6.9% | 71 | -17 |
| 5 | Live Oak Banking Company | 7(a) | 35 | $45.0M | 4.5% | 34 | +1 |
| 6 | Truist Bank | 7(a) | 33 | $20.4M | 4.2% | 53 | -20 |
| 7 | The First Bank and Trust Company | 7(a) | 25 | $17.3M | 3.2% | 19 | +6 |
| 8 | TD Bank, National Association | 7(a) | 23 | $2.2M | 2.9% | 72 | -49 |
| 9 | BayFirst National Bank | 7(a) | 19 | $4.6M | 2.4% | 46 | -27 |
| 10 | Rappahannock Economic Development Corporation | 504 | 18 | $14.8M | 2.3% | 15 | +3 |
| 11 | Five Star Bank | 7(a) | 17 | $3.9M | 2.2% | 8 | +9 |
| 12 | The Huntington National Bank | 7(a) | 16 | $13.5M | 2.0% | 6 | +10 |
| 13 | Atlantic Union Bank | 7(a) | 16 | $10.3M | 2.0% | 16 | 0 |
| 14 | United Midwest Savings Bank National Association | 7(a) | 14 | $11.8M | 1.8% | 16 | -2 |
| 15 | Newtek Small Business Finance, Inc. | 7(a) | 13 | $9.2M | 1.7% | 23 | -10 |
| 16 | PNC Bank, National Association | 7(a) | 13 | $3.1M | 1.7% | 20 | -7 |
| 17 | TowneBank | 7(a) | 12 | $7.2M | 1.5% | 14 | -2 |
| 18 | Fulton Bank, National Association | 7(a) | 12 | $6.2M | 1.5% | 5 | +7 |
| 19 | Capital Bank, National Association | 7(a) | 12 | $4.2M | 1.5% | 15 | -3 |
| 20 | Stearns Bank National Association | 7(a) | 11 | $1.5M | 1.4% | 28 | -17 |
| 21 | Blue Ridge Bank National Association | 7(a) | 9 | $10.7M | 1.2% | 2 | +7 |
| 22 | Wilmington Savings Fund Society FSB | 7(a) | 9 | $8.1M | 1.2% | 4 | +5 |
| 23 | SouthState Bank, National Association | 7(a) | 8 | $6.0M | 1.0% | 15 | -7 |
| 24 | Hanmi Bank | 7(a) | 7 | $1.8M | 0.9% | 12 | -5 |
| 25 | BayPort Federal Credit Union | 7(a) | 7 | $1.0M | 0.9% | 9 | -2 |
| 26 | Primis Bank | 7(a) | 7 | $889K | 0.9% | 16 | -9 |
| 27 | Pinnacle Bank | 7(a) | 6 | $9.1M | 0.8% | 3 | +3 |
| 28 | The Bancorp Bank National Association | 7(a) | 6 | $5.3M | 0.8% | 2 | +4 |
| 29 | Virginia National Bank | 7(a) | 6 | $3.6M | 0.8% | 1 | +5 |
| 30 | Bank of America, National Association | 7(a) | 6 | $1.5M | 0.8% | 11 | -5 |
| 31 | MVB Bank, Inc. | 7(a) | 6 | $885K | 0.8% | 3 | +3 |
| 32 | Capital One National Association | 7(a) | 5 | $13.1M | 0.6% | 2 | +3 |
| 33 | North State Bank | 7(a) | 5 | $5.9M | 0.6% | 0 | new |
| 34 | First Merchants Bank | 7(a) | 5 | $1.8M | 0.6% | 1 | +4 |
| 35 | PCB Bank | 7(a) | 5 | $1.7M | 0.6% | 0 | new |
| 36 | Burke & Herbert Bank & Trust Company | 7(a) | 5 | $605K | 0.6% | 4 | +1 |
| 37 | GBank | 7(a) | 4 | $6.4M | 0.5% | 3 | +1 |
| 38 | Metro City Bank | 7(a) | 4 | $3.2M | 0.5% | 2 | +2 |
| 39 | First-Citizens Bank & Trust Company | 7(a) | 4 | $2.6M | 0.5% | 4 | 0 |
| 40 | Bank of Hope | 7(a) | 4 | $1.0M | 0.5% | 11 | -7 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 126 | $70.8M | 16.1% | 204 | -78 |
| 2 | Loudoun County | 68 | $34.9M | 8.7% | 96 | -28 |
| 3 | Prince William County | 45 | $24.7M | 5.8% | 67 | -22 |
| 4 | Virginia Beach city | 43 | $19.7M | 5.5% | 44 | -1 |
| 5 | Alexandria city | 37 | $28.3M | 4.7% | 35 | +2 |
| 6 | Richmond city | 32 | $18.1M | 4.1% | 32 | 0 |
| 7 | Henrico County | 27 | $14.5M | 3.5% | 47 | -20 |
| 8 | Arlington County | 23 | $12.7M | 2.9% | 44 | -21 |
| 9 | Chesapeake city | 23 | $13.3M | 2.9% | 29 | -6 |
| 10 | Chesterfield County | 20 | $7.7M | 2.6% | 37 | -17 |
| 11 | Norfolk city | 18 | $16.6M | 2.3% | 24 | -6 |
| 12 | Hanover County | 17 | $22.8M | 2.2% | 10 | +7 |
| 13 | Newport News city | 16 | $5.8M | 2.0% | 9 | +7 |
| 14 | Stafford County | 15 | $5.5M | 1.9% | 13 | +2 |
| 15 | Albemarle County | 13 | $6.1M | 1.7% | 8 | +5 |
| 16 | Montgomery County | 13 | $4.3M | 1.7% | 8 | +5 |
| 17 | James City County | 10 | $7.8M | 1.3% | 19 | -9 |
| 18 | Fairfax city | 10 | $5.1M | 1.3% | 9 | +1 |
| 19 | Frederick County | 10 | $9.9M | 1.3% | 6 | +4 |
| 20 | Hampton city | 10 | $7.1M | 1.3% | 9 | +1 |
| 21 | Fredericksburg city | 9 | $4.3M | 1.2% | 9 | 0 |
| 22 | Manassas city | 8 | $1.0M | 1.0% | 18 | -10 |
| 23 | Spotsylvania County | 8 | $6.5M | 1.0% | 8 | 0 |
| 24 | Fauquier County | 8 | $3.8M | 1.0% | 15 | -7 |
| 25 | Charlottesville city | 7 | $1.8M | 0.9% | 5 | +2 |
| 26 | Washington County | 7 | $2.2M | 0.9% | 6 | +1 |
| 27 | Roanoke city | 6 | $5.4M | 0.8% | 8 | -2 |
| 28 | Falls Church city | 6 | $1.1M | 0.8% | 3 | +3 |
| 29 | Lynchburg city | 6 | $5.8M | 0.8% | 2 | +4 |
| 30 | Winchester city | 5 | $1.9M | 0.6% | 4 | +1 |
| 31 | Roanoke County | 5 | $2.7M | 0.6% | 10 | -5 |
| 32 | Bristol city | 5 | $2.1M | 0.6% | 3 | +2 |
| 33 | Harrisonburg city | 4 | $2.1M | 0.5% | 7 | -3 |
| 34 | Prince George County | 4 | $1.4M | 0.5% | 5 | -1 |
| 35 | Rockingham County | 4 | $2.1M | 0.5% | 6 | -2 |
| 36 | Shenandoah County | 4 | $2.3M | 0.5% | 2 | +2 |
| 37 | Culpeper County | 4 | $3.1M | 0.5% | 3 | +1 |
| 38 | Campbell County | 4 | $829K | 0.5% | 3 | +1 |
| 39 | Halifax County | 3 | $4.7M | 0.4% | 3 | 0 |
| 40 | Caroline County | 3 | $2.9M | 0.4% | 0 | new |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2020 against FY2019
| Virginia | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 641 | 876 |
| 7(a) dollars | $364M | $412M |
| Median 7(a) approval | $200K | $150K |
| 504 approvals | 140 | 133 |
| 504 dollars | $110M | $95.5M |
| Jobs supported, as reported | 9,312 | 12,133 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2020?
Manufacturers and Traders Trust Company (80), Business Finance Group, Inc. (65), 504 Capital Corporation (55), Wells Fargo Bank National Association (54), Live Oak Banking Company (35). 113 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2020?
781: 641 under 7(a) worth $364M and 140 under 504 worth $110M.
Which Virginia counties had the most SBA approvals in FY2020?
Fairfax County (126), Loudoun County (68), Prince William County (45), Virginia Beach city (43), Alexandria city (37).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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