FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Virginia, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 1,310 loans in Virginia: 1,204 under 7(a) and 106 under 504, worth $639M.
That is up 22% on FY2023, when there were 1,073 approvals worth $588M.
Virginia accounted for 1.7% of the 76,235 approvals nationwide that year. 118 lenders had at least one approval in the state; Manufacturers and Traders Trust Company 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 FY2024, of 118 active.
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Fairfax County | 228 | $90.2M | 17.4% | 199 | +29 |
| 2 | Loudoun County | 119 | $49.3M | 9.1% | 96 | +23 |
| 3 | Prince William County | 87 | $35.1M | 6.6% | 67 | +20 |
| 4 | Virginia Beach city | 72 | $39.9M | 5.5% | 56 | +16 |
| 5 | Henrico County | 65 | $37.0M | 5.0% | 29 | +36 |
| 6 | Chesterfield County | 57 | $26.8M | 4.4% | 47 | +10 |
| 7 | Chesapeake city | 48 | $25.4M | 3.7% | 42 | +6 |
| 8 | Richmond city | 47 | $17.6M | 3.6% | 24 | +23 |
| 9 | Alexandria city | 46 | $22.2M | 3.5% | 41 | +5 |
| 10 | Arlington County | 40 | $16.7M | 3.1% | 30 | +10 |
| 11 | Norfolk city | 38 | $13.0M | 2.9% | 25 | +13 |
| 12 | Spotsylvania County | 29 | $23.4M | 2.2% | 17 | +12 |
| 13 | Newport News city | 24 | $10.7M | 1.8% | 16 | +8 |
| 14 | Stafford County | 22 | $8.2M | 1.7% | 27 | -5 |
| 15 | Fairfax city | 21 | $10.7M | 1.6% | 15 | +6 |
| 16 | Hanover County | 20 | $7.5M | 1.5% | 23 | -3 |
| 17 | Manassas city | 18 | $5.2M | 1.4% | 12 | +6 |
| 18 | Frederick County | 16 | $8.5M | 1.2% | 7 | +9 |
| 19 | Montgomery County | 13 | $4.3M | 1.0% | 4 | +9 |
| 20 | Albemarle County | 12 | $3.9M | 0.9% | 10 | +2 |
| 21 | Fredericksburg city | 12 | $8.0M | 0.9% | 12 | 0 |
| 22 | Roanoke city | 11 | $3.3M | 0.8% | 9 | +2 |
| 23 | James City County | 10 | $8.8M | 0.8% | 10 | 0 |
| 24 | Portsmouth city | 10 | $1.3M | 0.8% | 5 | +5 |
| 25 | Fauquier County | 9 | $9.1M | 0.7% | 17 | -8 |
| 26 | Roanoke County | 9 | $7.8M | 0.7% | 13 | -4 |
| 27 | Falls Church city | 9 | $1.8M | 0.7% | 2 | +7 |
| 28 | Suffolk city | 9 | $6.3M | 0.7% | 10 | -1 |
| 29 | Lynchburg city | 9 | $4.6M | 0.7% | 9 | 0 |
| 30 | Culpeper County | 8 | $3.4M | 0.6% | 2 | +6 |
| 31 | Hampton city | 8 | $9.5M | 0.6% | 8 | 0 |
| 32 | Petersburg city | 7 | $4.2M | 0.5% | 3 | +4 |
| 33 | Isle of Wight County | 7 | $2.5M | 0.5% | 8 | -1 |
| 34 | Warren County | 6 | $3.2M | 0.5% | 3 | +3 |
| 35 | York County | 6 | $12.2M | 0.5% | 8 | -2 |
| 36 | Salem city | 6 | $3.0M | 0.5% | 2 | +4 |
| 37 | Lancaster County | 6 | $5.2M | 0.5% | 4 | +2 |
| 38 | Campbell County | 6 | $926K | 0.5% | 4 | +2 |
| 39 | Charlottesville city | 5 | $6.2M | 0.4% | 3 | +2 |
| 40 | Caroline County | 5 | $5.3M | 0.4% | 0 | new |
The 40 counties with the most approvals; every county is on the Virginia page.
FY2024 against FY2023
| Virginia | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 1,204 | 974 |
| 7(a) dollars | $555M | $495M |
| Median 7(a) approval | $178K | $200K |
| 504 approvals | 106 | 99 |
| 504 dollars | $83.9M | $92.3M |
| Jobs supported, as reported | 16,935 | 14,710 |
Questions and answers
Which lenders made the most SBA loans in Virginia in FY2024?
Manufacturers and Traders Trust Company (108), The Huntington National Bank (95), Newtek Bank, National Association (94), Readycap Lending, LLC (88), Business Finance Group, Inc. (64). 118 lenders had at least one approval.
How many SBA loans were approved in Virginia in FY2024?
1,310: 1,204 under 7(a) worth $555M and 106 under 504 worth $83.9M.
Which Virginia counties had the most SBA approvals in FY2024?
Fairfax County (228), Loudoun County (119), Prince William County (87), Virginia Beach city (72), Henrico County (65).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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