FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Virginia, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 966 loans in Virginia: 762 under 7(a) and 204 under 504, worth $727M.
That is up 24% on FY2020, when there were 781 approvals worth $474M.
Virginia accounted for 1.6% of the 61,532 approvals nationwide that year. 115 lenders had at least one approval in the state; Business Finance Group, Inc. had the most, 112.
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 FY2021, of 115 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Business Finance Group, Inc. | 504 | 112 | $86.2M | 11.6% | 65 | +47 |
| 2 | 504 Capital Corporation | 504 | 64 | $39.3M | 6.6% | 55 | +9 |
| 3 | Manufacturers and Traders Trust Company | 7(a) | 56 | $8.6M | 5.8% | 80 | -24 |
| 4 | Wells Fargo Bank National Association | 7(a) | 54 | $7.5M | 5.6% | 54 | 0 |
| 5 | The First Bank and Trust Company | 7(a) | 42 | $50.7M | 4.3% | 25 | +17 |
| 6 | Live Oak Banking Company | 7(a) | 41 | $51.0M | 4.2% | 35 | +6 |
| 7 | Newtek Small Business Finance, Inc. | 7(a) | 38 | $16.9M | 3.9% | 13 | +25 |
| 8 | TowneBank | 7(a) | 29 | $35.5M | 3.0% | 12 | +17 |
| 9 | The Huntington National Bank | 7(a) | 28 | $33.8M | 2.9% | 16 | +12 |
| 10 | First National Bank of Pennsylvania | 7(a) | 28 | $29.4M | 2.9% | 2 | +26 |
| 11 | Truist Bank | 7(a) | 27 | $31.8M | 2.8% | 33 | -6 |
| 12 | Rappahannock Economic Development Corporation | 504 | 26 | $15.8M | 2.7% | 18 | +8 |
| 13 | TD Bank, National Association | 7(a) | 25 | $2.2M | 2.6% | 23 | +2 |
| 14 | United Midwest Savings Bank National Association | 7(a) | 24 | $5.7M | 2.5% | 14 | +10 |
| 15 | Readycap Lending, LLC | 7(a) | 14 | $13.1M | 1.4% | 3 | +11 |
| 16 | Pinnacle Bank | 7(a) | 13 | $14.9M | 1.3% | 6 | +7 |
| 17 | Citizens Bank | 7(a) | 13 | $5.6M | 1.3% | 3 | +10 |
| 18 | GBank | 7(a) | 12 | $26.4M | 1.2% | 4 | +8 |
| 19 | Fulton Bank, National Association | 7(a) | 12 | $8.3M | 1.2% | 12 | 0 |
| 20 | Capital Bank, National Association | 7(a) | 11 | $5.1M | 1.1% | 12 | -1 |
| 21 | Primis Bank | 7(a) | 11 | $1.9M | 1.1% | 7 | +4 |
| 22 | Atlantic Union Bank | 7(a) | 9 | $5.2M | 0.9% | 16 | -7 |
| 23 | BayFirst National Bank | 7(a) | 9 | $2.2M | 0.9% | 19 | -10 |
| 24 | Skyline National Bank | 7(a) | 9 | $1.4M | 0.9% | 2 | +7 |
| 25 | Beacon Bank and Trust | 7(a) | 8 | $10.4M | 0.8% | 2 | +6 |
| 26 | PNC Bank, National Association | 7(a) | 8 | $4.4M | 0.8% | 13 | -5 |
| 27 | Potomac Bank | 7(a) | 8 | $3.1M | 0.8% | 4 | +4 |
| 28 | Virginia National Bank | 7(a) | 8 | $1.2M | 0.8% | 6 | +2 |
| 29 | Blue Ridge Bank National Association | 7(a) | 7 | $9.7M | 0.7% | 9 | -2 |
| 30 | KeyBank National Association | 7(a) | 7 | $3.8M | 0.7% | 0 | new |
| 31 | Five Star Bank | 7(a) | 7 | $1.6M | 0.7% | 17 | -10 |
| 32 | Celtic Bank Corporation | 7(a) | 6 | $10.2M | 0.6% | 4 | +2 |
| 33 | Ameris Bank | 7(a) | 6 | $8.5M | 0.6% | 1 | +5 |
| 34 | MVB Bank, Inc. | 7(a) | 6 | $2.9M | 0.6% | 6 | 0 |
| 35 | Hanmi Bank | 7(a) | 6 | $2.8M | 0.6% | 7 | -1 |
| 36 | Wilmington Savings Fund Society FSB | 7(a) | 6 | $2.4M | 0.6% | 9 | -3 |
| 37 | BayPort Federal Credit Union | 7(a) | 6 | $1.1M | 0.6% | 7 | -1 |
| 38 | Bank of Hope | 7(a) | 6 | $985K | 0.6% | 4 | +2 |
| 39 | Colony Bank | 7(a) | 5 | $13.9M | 0.5% | 0 | new |
| 40 | HomeTrust Bank | 7(a) | 5 | $9.1M | 0.5% | 3 | +2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 127 | $67.3M | 13.1% | 126 | +1 |
| 2 | Loudoun County | 86 | $55.1M | 8.9% | 68 | +18 |
| 3 | Prince William County | 71 | $39.4M | 7.3% | 45 | +26 |
| 4 | Virginia Beach city | 54 | $34.7M | 5.6% | 43 | +11 |
| 5 | Chesterfield County | 45 | $44.7M | 4.7% | 20 | +25 |
| 6 | Chesapeake city | 38 | $33.6M | 3.9% | 23 | +15 |
| 7 | Henrico County | 32 | $38.6M | 3.3% | 27 | +5 |
| 8 | Alexandria city | 28 | $23.4M | 2.9% | 37 | -9 |
| 9 | Richmond city | 23 | $6.3M | 2.4% | 32 | -9 |
| 10 | Arlington County | 22 | $11.3M | 2.3% | 23 | -1 |
| 11 | Hanover County | 19 | $21.1M | 2.0% | 17 | +2 |
| 12 | Norfolk city | 18 | $9.8M | 1.9% | 18 | 0 |
| 13 | Roanoke city | 17 | $13.7M | 1.8% | 6 | +11 |
| 14 | Montgomery County | 15 | $4.6M | 1.6% | 13 | +2 |
| 15 | Stafford County | 14 | $11.5M | 1.4% | 15 | -1 |
| 16 | James City County | 14 | $7.8M | 1.4% | 10 | +4 |
| 17 | Spotsylvania County | 14 | $8.9M | 1.4% | 8 | +6 |
| 18 | Fairfax city | 13 | $12.2M | 1.3% | 10 | +3 |
| 19 | Charlottesville city | 12 | $11.8M | 1.2% | 7 | +5 |
| 20 | Newport News city | 12 | $9.7M | 1.2% | 16 | -4 |
| 21 | Frederick County | 11 | $17.9M | 1.1% | 10 | +1 |
| 22 | Augusta County | 10 | $11.4M | 1.0% | 1 | +9 |
| 23 | Rockingham County | 10 | $5.1M | 1.0% | 4 | +6 |
| 24 | Washington County | 10 | $9.0M | 1.0% | 7 | +3 |
| 25 | Fauquier County | 9 | $9.3M | 0.9% | 8 | +1 |
| 26 | Hampton city | 9 | $8.8M | 0.9% | 10 | -1 |
| 27 | Suffolk city | 9 | $6.8M | 0.9% | 2 | +7 |
| 28 | Harrisonburg city | 8 | $2.7M | 0.8% | 4 | +4 |
| 29 | York County | 8 | $5.3M | 0.8% | 3 | +5 |
| 30 | Louisa County | 8 | $4.1M | 0.8% | 1 | +7 |
| 31 | Albemarle County | 6 | $3.8M | 0.6% | 13 | -7 |
| 32 | Accomack County | 6 | $6.3M | 0.6% | 2 | +4 |
| 33 | Caroline County | 6 | $2.8M | 0.6% | 3 | +3 |
| 34 | Danville city | 6 | $7.9M | 0.6% | 1 | +5 |
| 35 | Lynchburg city | 6 | $3.5M | 0.6% | 6 | 0 |
| 36 | Amherst County | 6 | $3.7M | 0.6% | 2 | +4 |
| 37 | Manassas city | 5 | $3.2M | 0.5% | 8 | -3 |
| 38 | Prince George County | 5 | $1.2M | 0.5% | 4 | +1 |
| 39 | Carroll County | 5 | $3.4M | 0.5% | 3 | +2 |
| 40 | Botetourt County | 5 | $5.7M | 0.5% | 3 | +2 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2021 against FY2020
| Virginia | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 762 | 641 |
| 7(a) dollars | $584M | $364M |
| Median 7(a) approval | $323K | $200K |
| 504 approvals | 204 | 140 |
| 504 dollars | $143M | $110M |
| Jobs supported, as reported | 12,058 | 9,312 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2021?
Business Finance Group, Inc. (112), 504 Capital Corporation (64), Manufacturers and Traders Trust Company (56), Wells Fargo Bank National Association (54), The First Bank and Trust Company (42). 115 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2021?
966: 762 under 7(a) worth $584M and 204 under 504 worth $143M.
Which Virginia counties had the most SBA approvals in FY2021?
Fairfax County (127), Loudoun County (86), Prince William County (71), Virginia Beach city (54), Chesterfield County (45).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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