Local lending data
Who lends to businesses in Henrico County?
184 SBA 7(a) loans went to businesses in Henrico County recently, at a median of $160,000. The lenders that made them, ranked, with local rates and startup share.
184 SBA 7(a) loans went to businesses in Henrico County in the most recent fiscal years, at a median of $160,000. The most active lender was Manufacturers and Traders Trust Company, with 29 loans.
SBA lending in Henrico County, 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 | Henrico County | Virginia | National |
|---|---|---|---|
| Loans approved | 184 | 3,796 | 214,102 |
| Median loan | $160,000 | $200,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $500,000 | $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 | 45.7% | 39.5% | 33.6% |
| Charge-off rate, FY2010-19 | 11.2% | 8.5% | 7.1% |
| Jobs supported | 2,188 | 46,618 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Henrico County. 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 |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 29 | $60,000 | 79% | 10.75% |
| The Huntington National Bank | 21 | $250,000 | 81% | 10.25% |
| Newtek Bank | 13 | $125,000 | 31% | 10.50% |
| Wells Fargo Bank | 9 | $15,000 | 100% | 12.75% |
| Readycap Lending, LLC | 9 | $50,000 | 22% | 14.00% |
| Live Oak Banking Company | 9 | $1,150,000 | 44% | 9.00% |
| SouthState Bank | 9 | $220,000 | 0% | 10.50% |
| Northeast Bank | 8 | $47,500 | 25% | 10.62% |
| First Community Bank | 6 | $226,900 | 17% | 7.38% |
| TowneBank | 5 | $379,200 | 0% | 8.75% |
What stands out here
Reading these figures against the national picture:
- Loan sizes are typical. The median of $160,000 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. 46% 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 34% of these loans, so the shortlist below covers most of the active market.
- Lenders have been burned here before. 11.2% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
Who borrows in Henrico County
The mix of industries taking SBA loans here, led by healthcare.
| Sector | Loans | Share |
|---|---|---|
| Healthcare | 41 | 22.3% |
| Retail | 21 | 11.4% |
| Personal Services | 20 | 10.9% |
| Professional Services | 19 | 10.3% |
| Admin Services | 14 | 7.6% |
| Restaurants and Hotels | 14 | 7.6% |
| Arts and Recreation | 12 | 6.5% |
| Construction | 10 | 5.4% |
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, Chesterfield County, Alexandria City, Richmond City, Chesapeake City