FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Virginia, FY2023
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 1,073 loans in Virginia: 974 under 7(a) and 99 under 504, worth $588M.
That is up 17% on FY2022, when there were 921 approvals worth $552M.
Virginia accounted for 1.7% of the 63,286 approvals nationwide that year. 119 lenders had at least one approval in the state; The Huntington National Bank had the most, 108.
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 FY2023, of 119 active.
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 199 | $85.0M | 18.5% | 151 | +48 |
| 2 | Loudoun County | 96 | $46.5M | 8.9% | 81 | +15 |
| 3 | Prince William County | 67 | $29.6M | 6.2% | 53 | +14 |
| 4 | Virginia Beach city | 56 | $38.2M | 5.2% | 58 | -2 |
| 5 | Chesterfield County | 47 | $16.9M | 4.4% | 37 | +10 |
| 6 | Chesapeake city | 42 | $23.0M | 3.9% | 34 | +8 |
| 7 | Alexandria city | 41 | $23.8M | 3.8% | 30 | +11 |
| 8 | Arlington County | 30 | $14.7M | 2.8% | 22 | +8 |
| 9 | Henrico County | 29 | $19.4M | 2.7% | 39 | -10 |
| 10 | Stafford County | 27 | $10.9M | 2.5% | 13 | +14 |
| 11 | Norfolk city | 25 | $18.6M | 2.3% | 27 | -2 |
| 12 | Richmond city | 24 | $7.5M | 2.2% | 21 | +3 |
| 13 | Hanover County | 23 | $17.4M | 2.1% | 14 | +9 |
| 14 | Spotsylvania County | 17 | $9.0M | 1.6% | 18 | -1 |
| 15 | Fauquier County | 17 | $5.5M | 1.6% | 18 | -1 |
| 16 | Newport News city | 16 | $6.1M | 1.5% | 10 | +6 |
| 17 | Fairfax city | 15 | $2.3M | 1.4% | 18 | -3 |
| 18 | Washington County | 15 | $10.0M | 1.4% | 14 | +1 |
| 19 | Roanoke County | 13 | $11.7M | 1.2% | 6 | +7 |
| 20 | Manassas city | 12 | $10.9M | 1.1% | 7 | +5 |
| 21 | Fredericksburg city | 12 | $2.3M | 1.1% | 9 | +3 |
| 22 | Albemarle County | 10 | $6.3M | 0.9% | 4 | +6 |
| 23 | James City County | 10 | $6.4M | 0.9% | 6 | +4 |
| 24 | Suffolk city | 10 | $3.9M | 0.9% | 8 | +2 |
| 25 | Harrisonburg city | 9 | $7.2M | 0.8% | 4 | +5 |
| 26 | Roanoke city | 9 | $4.3M | 0.8% | 11 | -2 |
| 27 | Lynchburg city | 9 | $2.3M | 0.8% | 10 | -1 |
| 28 | York County | 8 | $3.7M | 0.7% | 5 | +3 |
| 29 | Bedford County | 8 | $4.7M | 0.7% | 5 | +3 |
| 30 | Isle of Wight County | 8 | $3.7M | 0.7% | 1 | +7 |
| 31 | Hampton city | 8 | $6.3M | 0.7% | 6 | +2 |
| 32 | Frederick County | 7 | $7.6M | 0.7% | 7 | 0 |
| 33 | Danville city | 7 | $4.2M | 0.7% | 8 | -1 |
| 34 | Wythe County | 6 | $13.4M | 0.6% | 2 | +4 |
| 35 | Louisa County | 6 | $2.2M | 0.6% | 4 | +2 |
| 36 | Powhatan County | 5 | $1.6M | 0.5% | 1 | +4 |
| 37 | Portsmouth city | 5 | $2.4M | 0.5% | 13 | -8 |
| 38 | Staunton city | 5 | $6.6M | 0.5% | 5 | 0 |
| 39 | Manassas Park city | 5 | $540K | 0.5% | 2 | +3 |
| 40 | Gloucester County | 4 | $928K | 0.4% | 1 | +3 |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2023 against FY2022
| Virginia | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 974 | 772 |
| 7(a) dollars | $495M | $429M |
| Median 7(a) approval | $200K | $200K |
| 504 approvals | 99 | 149 |
| 504 dollars | $92.3M | $123M |
| Jobs supported, as reported | 14,710 | 10,903 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2023?
The Huntington National Bank (108), Manufacturers and Traders Trust Company (104), Wells Fargo Bank National Association (55), BayFirst National Bank (54), Business Finance Group, Inc. (44). 119 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2023?
1,073: 974 under 7(a) worth $495M and 99 under 504 worth $92.3M.
Which Virginia counties had the most SBA approvals in FY2023?
Fairfax County (199), Loudoun County (96), Prince William County (67), Virginia Beach city (56), Chesterfield County (47).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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