SBA data · Virginia
SBA lending in Virginia
17,183 loans worth $8.43B have been approved for Virginia projects since FY2010 - the #21 state by SBA dollars, 1.7% of the national total.
State rank
#21
by dollars approved
Approved
$8.43B
FY2010 onward
Loans
17,183
Median loan
$200,000
+11% vs national
Median 7(a) rate
7.25%
Jobs supported
203,884
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in Virginia
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in VA | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Business Finance Group, Inc. | $907.5M | 1,201 | $755,604 | |
| 2 | Live Oak Banking Company | $658.9M | 482 | $1,367,007 | |
| 3 | Truist Bank | $432.3M | 1,173 | $368,501 | |
| 4 | 504 Capital Corporation | $403.2M | 685 | $588,546 | |
| 5 | Wells Fargo Bank | $337.0M | 1,478 | $227,987 | |
| 6 | Atlantic Union Bank | $267.6M | 658 | $406,714 | |
| 7 | Manufacturers and Traders Trust Company | $248.6M | 1,544 | $160,989 | |
| 8 | The Huntington National Bank | $219.3M | 454 | $483,046 | |
| 9 | Rappahannock Economic Development Corporation | $177.2M | 241 | $735,411 | |
| 10 | First National Bank of Pennsylvania | $176.5M | 195 | $904,917 | |
| 11 | GBank | $170.3M | 69 | $2,467,667 | |
| 12 | The First Bank and Trust Company | $161.0M | 227 | $709,211 |
By sector in Virginia
- Restaurants & Hotels2,279 · $1.65B
- Health Care1,957 · $1.09B
- Professional Services2,585 · $1.06B
- Other Services1,763 · $740.9M
- Construction1,692 · $663.8M
- Retail1,116 · $509.7M
- Arts & Recreation687 · $386.6M
- Wholesale512 · $284.0M
- Administrative & Waste871 · $274.6M
- Agriculture186 · $232.2M
- Transportation564 · $172.6M
- Real Estate305 · $159.5M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in Virginia. The final bar is a partial fiscal year.
Loan sizes in Virginia
- Under $50K18%
- $50K - $150K22%
- $150K - $350K25%
- $350K - $1M22%
- $1M - $2M8%
- Over $2M5%
SBA lending in Virginia: common questions
- How many SBA loans are approved in Virginia?
- 17,183 SBA 7(a) and 504 loans totalling $8,427,536,100 have been approved for projects in Virginia since fiscal year 2010, ranking it #21 among states and territories by dollars approved - 1.7% of all SBA lending nationally.
- Which lenders make the most SBA loans in Virginia?
- By dollars approved in Virginia, the most active lenders are Business Finance Group, Inc., Live Oak Banking Company, Truist Bank, 504 Capital Corporation, Wells Fargo Bank. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in Virginia?
- The median gross approval in Virginia is $200,000, 11% above the national median of $180,000. Half of all loans in the state fall between $25,000 and $1,259,000.
- Do I need to use a lender based in Virginia?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in Virginia, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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