Top SBA Lenders – SBA Loans Virginia

Last annual update: Feb 18, 2022

 

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Few Virginia-based banks were among the largest lenders to “The Old Dominion State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in Virginia:

VA RankVirginia BankBank HQs# of VA LoansAvg InterestAvg Virginia Loan
1M&TBuffalo, NY596.7%$180,525
2United Midwest Savings BankDe Graff, OH526.0%$216,500
3Wells FargoSioux Falls, SD508.1%$114,676
4Newtek Small Business FinanceLake Success, NY476.0%$461,564
5Live OakWilmington, NC395.4%$1,383,208
6The First Bank and TrustLebanon, VA384.6%$1,221,363
7TD BankWilmington, DE298.1%$81,990
8First National Bank of PennsylvaniaGreenville, PA266.0%$1,175,027
9Truist BankCharlotte, NC224.9%$1,198,464
10Readycap Lending, LLCBerkeley Heights, NJ145.7%$835,107

 

SBA loans – Virginia

A note about these Virginia SBA lenders – People frequently ask us if one of the banks above is 1) on the Virginia preferred lender list 2) an approved lender in Virginia, or 3) participating in the Virginia SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Virginia and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in Virginia. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remiss if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.

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