Local lending data
Who lends to businesses in Chesapeake City?
116 SBA 7(a) loans went to businesses in Chesapeake City recently, at a median of $154,000. The lenders that made them, ranked, with local rates and startup share.
116 SBA 7(a) loans went to businesses in Chesapeake City in the most recent fiscal years, at a median of $154,000. The most active lender was The Huntington National Bank, with 12 loans.
SBA lending in Chesapeake City, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Chesapeake City | Virginia | National |
|---|---|---|---|
| Loans approved | 116 | 3,796 | 214,102 |
| Median loan | $154,000 | $200,000 | $150,000 |
| 25th - 75th percentile | $100,000 - $486,075 | $80,000 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 10.50% | 10.50% | 10.25% |
| Share to startups | 44.8% | 39.5% | 33.6% |
| Charge-off rate, FY2010-19 | 7.4% | 8.5% | 7.1% |
| Jobs supported | 1,533 | 46,618 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Chesapeake City. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 12 | $396,000 | 92% | 10.50% |
| Newtek Bank | 10 | $200,000 | 10% | 10.50% |
| BayFirst National Bank | 8 | $149,700 | 0% | 13.00% |
| Atlantic Union Bank | 7 | $400,000 | 71% | 10.75% |
| Live Oak Banking Company | 6 | $219,000 | 33% | 10.21% |
| United Midwest Savings Bank | 6 | $150,000 | 100% | 10.12% |
| Wells Fargo Bank | 6 | $15,000 | 100% | 13.50% |
| Northeast Bank | 6 | $86,450 | 0% | 11.25% |
| Fulton Bank | 5 | $500,000 | 60% | 10.25% |
| Celtic Bank Corporation | 4 | $125,000 | 0% | 10.25% |
What stands out here
Reading these figures against the national picture:
- Loan sizes are typical. The median of $154,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- New businesses do well here. 45% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- No single lender dominates, but the top three made 26% of these loans, so the shortlist below covers most of the active market.
Who borrows in Chesapeake City
The mix of industries taking SBA loans here, led by professional services.
| Sector | Loans | Share |
|---|---|---|
| Professional Services | 16 | 13.8% |
| Construction | 15 | 12.9% |
| Retail | 14 | 12.1% |
| Admin Services | 14 | 12.1% |
| Healthcare | 11 | 9.5% |
| Trucking | 9 | 7.8% |
| Arts and Recreation | 8 | 6.9% |
| Restaurants and Hotels | 8 | 6.9% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year — see choosing an SBA lender.
- Check your coverage first with the affordability calculator, so you ask for a number your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Virginia.
Other counties in Virginia
- Nearby markets with published data: Fairfax County, Loudoun County, Prince William County, Virginia Beach City, Henrico County, Chesterfield County, Alexandria City, Richmond City