FY20221 Oct 2021 – 30 Sep 2022
SBA loans in Virginia, FY2022
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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 921 loans in Virginia: 772 under 7(a) and 149 under 504, worth $552M.
That is about level with FY2021, when there were 966 approvals worth $727M.
Virginia accounted for 1.6% of the 56,932 approvals nationwide that year. 111 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 90.
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 FY2022, of 111 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 7(a) | 90 | $15.7M | 9.8% | 56 | +34 |
| 2 | Business Finance Group, Inc. | 504 | 67 | $65.5M | 7.3% | 112 | -45 |
| 3 | 504 Capital Corporation | 504 | 63 | $45.5M | 6.8% | 64 | -1 |
| 4 | Wells Fargo Bank National Association | 7(a) | 52 | $6.2M | 5.6% | 54 | -2 |
| 5 | Newtek Small Business Finance, Inc. | 7(a) | 51 | $20.6M | 5.5% | 38 | +13 |
| 6 | The Huntington National Bank | 7(a) | 49 | $19.3M | 5.3% | 28 | +21 |
| 7 | The First Bank and Trust Company | 7(a) | 38 | $8.5M | 4.1% | 42 | -4 |
| 8 | Live Oak Banking Company | 7(a) | 31 | $55.9M | 3.4% | 41 | -10 |
| 9 | TD Bank, National Association | 7(a) | 31 | $1.4M | 3.4% | 25 | +6 |
| 10 | BayFirst National Bank | 7(a) | 20 | $4.1M | 2.2% | 9 | +11 |
| 11 | Rappahannock Economic Development Corporation | 504 | 19 | $11.6M | 2.1% | 26 | -7 |
| 12 | United Midwest Savings Bank National Association | 7(a) | 19 | $5.7M | 2.1% | 24 | -5 |
| 13 | Capital Bank, National Association | 7(a) | 18 | $14.7M | 2.0% | 11 | +7 |
| 14 | Atlantic Union Bank | 7(a) | 17 | $12.6M | 1.8% | 9 | +8 |
| 15 | Celtic Bank Corporation | 7(a) | 17 | $12.2M | 1.8% | 6 | +11 |
| 16 | Readycap Lending, LLC | 7(a) | 15 | $1.2M | 1.6% | 14 | +1 |
| 17 | Truist Bank | 7(a) | 14 | $11.8M | 1.5% | 27 | -13 |
| 18 | TowneBank | 7(a) | 13 | $8.9M | 1.4% | 29 | -16 |
| 19 | Virginia National Bank | 7(a) | 12 | $4.9M | 1.3% | 8 | +4 |
| 20 | Bank of America, National Association | 7(a) | 12 | $4.5M | 1.3% | 5 | +7 |
| 21 | First National Bank of Pennsylvania | 7(a) | 11 | $16.2M | 1.2% | 28 | -17 |
| 22 | Citizens Bank | 7(a) | 10 | $6.3M | 1.1% | 13 | -3 |
| 23 | PNC Bank, National Association | 7(a) | 10 | $5.7M | 1.1% | 8 | +2 |
| 24 | GBank | 7(a) | 9 | $27.4M | 1.0% | 12 | -3 |
| 25 | Bank of Hope | 7(a) | 9 | $968K | 1.0% | 6 | +3 |
| 26 | Fulton Bank, National Association | 7(a) | 7 | $4.0M | 0.8% | 12 | -5 |
| 27 | Primis Bank | 7(a) | 7 | $3.4M | 0.8% | 11 | -4 |
| 28 | Potomac Bank | 7(a) | 7 | $1.6M | 0.8% | 8 | -1 |
| 29 | Pinnacle Bank | 7(a) | 6 | $12.2M | 0.7% | 13 | -7 |
| 30 | First Bank of the Lake | 7(a) | 6 | $9.4M | 0.7% | 2 | +4 |
| 31 | KeyBank National Association | 7(a) | 6 | $6.7M | 0.7% | 7 | -1 |
| 32 | Customers Bank | 7(a) | 6 | $6.0M | 0.7% | 3 | +3 |
| 33 | Hanmi Bank | 7(a) | 6 | $5.9M | 0.7% | 6 | 0 |
| 34 | Wilmington Savings Fund Society FSB | 7(a) | 6 | $3.9M | 0.7% | 6 | 0 |
| 35 | JPMorgan Chase Bank, National Association | 7(a) | 6 | $985K | 0.7% | 2 | +4 |
| 36 | Farmers & Merchants Bank | 7(a) | 6 | $874K | 0.7% | 4 | +2 |
| 37 | BayPort Federal Credit Union | 7(a) | 6 | $544K | 0.7% | 6 | 0 |
| 38 | Northeast Bank | 7(a) | 6 | $140K | 0.7% | 0 | new |
| 39 | Blue Ridge Bank National Association | 7(a) | 5 | $5.8M | 0.5% | 7 | -2 |
| 40 | Metro City Bank | 7(a) | 5 | $2.8M | 0.5% | 5 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 151 | $88.6M | 16.4% | 127 | +24 |
| 2 | Loudoun County | 81 | $50.7M | 8.8% | 86 | -5 |
| 3 | Virginia Beach city | 58 | $37.3M | 6.3% | 54 | +4 |
| 4 | Prince William County | 53 | $30.6M | 5.8% | 71 | -18 |
| 5 | Henrico County | 39 | $23.4M | 4.2% | 32 | +7 |
| 6 | Chesterfield County | 37 | $14.4M | 4.0% | 45 | -8 |
| 7 | Chesapeake city | 34 | $14.8M | 3.7% | 38 | -4 |
| 8 | Alexandria city | 30 | $16.4M | 3.3% | 28 | +2 |
| 9 | Norfolk city | 27 | $14.1M | 2.9% | 18 | +9 |
| 10 | Arlington County | 22 | $7.7M | 2.4% | 22 | 0 |
| 11 | Richmond city | 21 | $5.5M | 2.3% | 23 | -2 |
| 12 | Spotsylvania County | 18 | $9.8M | 2.0% | 14 | +4 |
| 13 | Fairfax city | 18 | $8.3M | 2.0% | 13 | +5 |
| 14 | Fauquier County | 18 | $10.1M | 2.0% | 9 | +9 |
| 15 | Hanover County | 14 | $8.5M | 1.5% | 19 | -5 |
| 16 | Washington County | 14 | $2.9M | 1.5% | 10 | +4 |
| 17 | Stafford County | 13 | $10.7M | 1.4% | 14 | -1 |
| 18 | Portsmouth city | 13 | $5.4M | 1.4% | 2 | +11 |
| 19 | Roanoke city | 11 | $4.5M | 1.2% | 17 | -6 |
| 20 | Newport News city | 10 | $10.2M | 1.1% | 12 | -2 |
| 21 | Lynchburg city | 10 | $5.7M | 1.1% | 6 | +4 |
| 22 | Fredericksburg city | 9 | $2.8M | 1.0% | 5 | +4 |
| 23 | Montgomery County | 8 | $8.7M | 0.9% | 15 | -7 |
| 24 | Danville city | 8 | $7.4M | 0.9% | 6 | +2 |
| 25 | Campbell County | 8 | $8.1M | 0.9% | 4 | +4 |
| 26 | Suffolk city | 8 | $12.1M | 0.9% | 9 | -1 |
| 27 | Manassas city | 7 | $3.8M | 0.8% | 5 | +2 |
| 28 | Charlottesville city | 7 | $2.9M | 0.8% | 12 | -5 |
| 29 | Rockingham County | 7 | $2.7M | 0.8% | 10 | -3 |
| 30 | Frederick County | 7 | $3.8M | 0.8% | 11 | -4 |
| 31 | James City County | 6 | $1.4M | 0.7% | 14 | -8 |
| 32 | Roanoke County | 6 | $11.2M | 0.7% | 4 | +2 |
| 33 | Culpeper County | 6 | $2.9M | 0.7% | 4 | +2 |
| 34 | Hampton city | 6 | $2.0M | 0.7% | 9 | -3 |
| 35 | York County | 5 | $4.9M | 0.5% | 8 | -3 |
| 36 | Bedford County | 5 | $2.4M | 0.5% | 4 | +1 |
| 37 | Smyth County | 5 | $3.3M | 0.5% | 2 | +3 |
| 38 | Staunton city | 5 | $689K | 0.5% | 0 | new |
| 39 | Waynesboro city | 5 | $5.5M | 0.5% | 1 | +4 |
| 40 | Harrisonburg city | 4 | $2.3M | 0.4% | 8 | -4 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2022 against FY2021
| Virginia | FY2022 | FY2021 |
|---|---|---|
| 7(a) approvals | 772 | 762 |
| 7(a) dollars | $429M | $584M |
| Median 7(a) approval | $200K | $323K |
| 504 approvals | 149 | 204 |
| 504 dollars | $123M | $143M |
| Jobs supported, as reported | 10,903 | 12,058 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2022?
Manufacturers and Traders Trust Company (90), Business Finance Group, Inc. (67), 504 Capital Corporation (63), Wells Fargo Bank National Association (52), Newtek Small Business Finance, Inc. (51). 111 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2022?
921: 772 under 7(a) worth $429M and 149 under 504 worth $123M.
Which Virginia counties had the most SBA approvals in FY2022?
Fairfax County (151), Loudoun County (81), Virginia Beach city (58), Prince William County (53), Henrico County (39).
When does FY2022 start and end?
The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.
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