Best SBA Lenders In Virginia (2027)
Virginia businesses closed 1,125 SBA 7(a) loans worth $609M in FY2026, through 130 lenders. Live Oak Banking Company led by dollar volume, and 125 of the loans financed business acquisitions.
Key Takeaways
- Live Oak Banking Company was the top SBA lender in Virginia with $56.5M across 61 loans.
- 125 business acquisitions were financed, averaging $1.3M per loan.
- The median loan was $245K, and loans averaged 11.0 years in term.
- Hotels (except Casino Hotels) and Motels drew the most SBA dollars of any industry.
Top SBA Lenders In Virginia
Ranked by SBA 7(a) dollar volume approved in FY2026. Average rate is the rate at approval.
| # | Lender | SBA Loans | Total Volume | Avg Loan | Avg Rate | Acquisition Loans |
|---|---|---|---|---|---|---|
| 1 | Live Oak Banking CompanyWilmington, NC | 61 | $56.5M | $927K | 9.17% | 21 |
| 2 | Newtek BankMiami, FL | 118 | $31.8M | $269K | 10.82% | 3 |
| 3 | Manufacturers and Traders Trust CompanyBuffalo, NY | 194 | $28.2M | $145K | 10.35% | 3 |
| 4 | The Huntington National BankColumbus, OH | 52 | $27.1M | $522K | 9.00% | 17 |
| 5 | Pinnacle BankNashville, TN | 13 | $18.2M | $1.4M | 8.54% | 2 |
| 6 | US Metro BankGarden Grove, CA | 10 | $17.0M | $1.7M | 8.22% | 7 |
| 7 | Atlantic Union BankRichmond, VA | 25 | $16.8M | $671K | 9.28% | 0 |
| 8 | GBankLas Vegas, NV | 5 | $16.2M | $3.2M | 8.00% | 3 |
| 9 | Northeast BankLewiston, ME | 83 | $15.5M | $187K | 9.95% | 0 |
| 10 | PathwardSioux Falls, SD | 4 | $13.1M | $3.3M | 9.25% | 2 |
| 11 | First Bank of the LakeOsage Beach, MO | 13 | $12.3M | $950K | 10.33% | 0 |
| 12 | Metro City BankDoraville, GA | 6 | $12.0M | $2.0M | 8.12% | 2 |
| 13 | Commonwealth Business BankLos Angeles, CA | 5 | $10.2M | $2.0M | 8.30% | 2 |
| 14 | Truliant FCUWinston-Salem, NC | 4 | $9.3M | $2.3M | 9.38% | 3 |
| 15 | Wells Fargo BankSioux Falls, SD | 14 | $8.9M | $639K | 8.94% | 0 |
Best SBA Lenders For Buying A Business In Virginia
Business acquisition loans are SBA loans used to buy an existing company. They are larger than average and need more experience from the lender.
Most Active Acquisition Lenders
- Live Oak Banking Company21 acquisition loans
- The Huntington National Bank17 acquisition loans
- US Metro Bank7 acquisition loans
- Newtek Bank3 acquisition loans
- Manufacturers and Traders Trust Company3 acquisition loans
- GBank3 acquisition loans
Among this area's top 15 lenders by volume.
Buying A Business?
We take your deal to the SBA lenders that close the most acquisitions, so they compete for it. It is free to you.
Loan Sizes In Virginia
How SBA dollars split by loan size.
Top Industries In Virginia
Industries that drew the most SBA dollars.
SBA Lending In Virginia Since 2020
SBA 7(a) dollars approved each fiscal year.
FY2026 dollar volume in Virginia was down 19.5% from FY2025, and the loan count was down 24.9%. Part of that drop is the calendar: SBA approved no 7(a) loans in October 2025 during the federal government shutdown (October 1 to November 12, 2025), so FY2026 covers about 11 months of lending.
How To Choose An SBA Lender In Virginia
Lending in Virginia is spread out. 130 lenders made at least one SBA 7(a) loan, and the top five together made 27% of the dollars. That gives you room to compare offers, because no single bank sets the terms.
Manufacturers and Traders Trust Company made the most loans (194, averaging $145K), while Live Oak Banking Company led on dollars with fewer, larger loans averaging $927K. Volume leaders and count leaders often serve different deal sizes, so match the lender to the size of your loan.
Most of the top lenders here are national SBA specialists. Atlantic Union Bank is the highest ranked lender headquartered in VA.
The average SBA loan here was $541K, close to the national average of $578K, and the median was $245K.
Among the top lenders with at least three loans, GBank had the lowest average rate at approval (8.00%). The overall average was 9.67%, and 93% of loans were variable. Rate depends heavily on loan size and term, so compare offers on the same structure.
Business acquisitions made up 27% of SBA dollars here, below the national share of 27%. 125 buyers used an SBA loan to purchase a business, with an average acquisition loan of $1.3M.
36% of loans went to startups or businesses under two years old, a higher share than average, so lenders here are used to newer businesses.
Franchises took 22% of loans, led by The UPS Store, The Back Nine, Super 8 by Wyndhan / Super 8.
The fastest way to compare is to send one complete package to several lenders at once. That is what we do: GoSBA Loans takes your deal to the SBA lenders that fit it, and they compete for your business.
How Much You Need Down
For a business acquisition, SBA sets the minimum Down Payment. Lenders can ask for more.
- 10% minimum. SBA requires a Down Payment of at least 10% of the project for an initial business acquisition (SOP 50 10 8.1, Appendix 15).
- A seller note can cover up to half. When the seller finances part of the price on full standby, with no payments for the life of the SBA loan, it can count for up to half of the required Down Payment. That can bring your cash to 5%.
- Investors can help. Minority investors can fund part of the Down Payment. Anyone who owns 20% or more personally guarantees the loan.
- Ten year term for most acquisitions. Business acquisition loans without real estate run up to 10 years. Real estate in the deal can stretch the term.
Example For Virginia
The average business acquisition loan here was $1.3M. At 10% down, that is a project of about $1.5M:
Illustration only. Your lender sets the final structure.
Questions About SBA Lenders In Virginia
Who is the top SBA lender in Virginia?
Live Oak Banking Company made the most SBA 7(a) dollars in Virginia in FY2026: $56.5M across 61 loans. Manufacturers and Traders Trust Company made the most loans by count (194).
How many SBA loans were made in Virginia?
SBA approved 1,125 7(a) loans totaling $609M in Virginia in FY2026. The average loan was $541K and the median was $245K. 130 lenders made at least one loan.
What is the average SBA loan rate in Virginia?
The average initial rate on SBA 7(a) loans in Virginia was 9.67% (8.81% weighted by loan size). 93% of loans had a variable rate tied to the Prime Rate. SBA caps the spread a lender can charge, and larger loans usually price lower.
Which SBA lender is best for buying a business in Virginia?
Live Oak Banking Company closed the most business acquisition loans among the top lenders here (21). The best lender for your deal depends on its size and industry, so it helps to have several lenders review it.
How much do I need down to buy a business in Virginia with an SBA loan?
SBA requires at least 10% down for a business acquisition. A seller note on full standby can cover up to half of that, so some buyers put in 5% of their own cash. On the average acquisition loan here ($1.3M), 10% down is roughly $148K.
Does GoSBA Loans charge borrowers?
No. GoSBA Loans is 100% free to borrowers. We prepare your loan package and take it to the SBA lenders that fit your deal.
Keep Exploring
Cities In Virginia
- Virginia Beach$37.3M
- Alexandria$36.7M
- Richmond$25.0M
- Fairfax$22.6M
- Fredericksburg$18.1M
- Chantilly$16.8M
- Chesapeake$14.1M
- Hampton$11.4M
- Leesburg$6.9M
- Falls Church$6.3M
- Midlothian$5.3M
- Ashburn$4.6M
- Stafford$1.9M
Top Industries Here
- Hotels (except Casino Hotels) and Motels
- Limited-Service Restaurants
- Fitness and Recreational Sports Centers
- Full-Service Restaurants
- Child Care Services
- All Other Amusement and Recreation Industries
- General Automotive Repair
- All Other Specialty Trade Contractors
- Other Computer Related Services
- Snack and Nonalcoholic Beverage Bars
About this data. Rankings use SBA 7(a) loan approvals from the SBA FOIA data set, fiscal year 2026 (October 1, 2025 to September 30, 2026), as published by SBA through September 30, 2026. Lenders are ranked by approved dollar volume. Rates are the initial rate at approval, a simple average across loans; most SBA 7(a) loans are variable and move with the Prime Rate. Business acquisition loans are those SBA marks as a change of ownership. GoSBA Loans is an SBA loan broker, not a lender, and is not affiliated with SBA.
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