Top Virginia SBA Lenders | SBA Loans in VA

Last annual update: May 8, 2023


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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.

Top SBA Lenders in Virginia

VA RankVirginia BankBank HQs# of LoansAvg InterestAvg VA Loan
1M&TBuffalo, NY557.8%$183,973
2Wells FargoSioux Falls, SD389.2%$123,447
3Newtek Small Business FinanceLake Success, NY317.4%$553,526
4The First Bank and TrustLebanon, VA305.4%$272,280
5Live OakWilmington, NC286.1%$2,029,679
6United Midwest Savings BankDe Graff, OH266.7%$550,385
7BancorpSouth BankTupelo, MS247.3%$254,792
8BayFirst National BankSaint Petersburg, FL237.6%$221,000
9TD BankWilmington, DE219.2%$49,843
10The Huntington National BankColumbus, OH197.4%$337,147
11Celtic BankSalt Lake City, UT167.9%$462,044
12Readycap Lending, LLCBerkeley Heights, NJ168.3%$89,388
13Truist BankCharlotte, NC156.5%$987,513
14Bank of AmericaCharlotte, NC132.9%$381,238
15Capital BankRockville, MD135.6%$1,031,631


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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