Lending data
Who actually lends to finance and insurance businesses in Virginia?
36 SBA 7(a) loans went to finance and insurance businesses in Virginia recently, at a median of $150,000. Here are the lenders that made them, ranked.
36 SBA 7(a) loans went to finance and insurance businesses in Virginia in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Manufacturers and Traders Trust Company, with 4 loans.
What lending to finance and insurance businesses in Virginia actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Finance and insurance, Virginia | All 7(a) borrowers |
|---|---|---|
| Loans approved | 36 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $60,000 - $350,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 22.2% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 7.6% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to finance and insurance businesses in Virginia. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 4 | $50,000 | 0% | 13.12% |
| U.S. Bank | 3 | $182,200 | 33% | 8.57% |
| SouthState Bank | 3 | $60,000 | 0% | 11.25% |
| Readycap Lending, LLC | 3 | $50,000 | 33% | 15.00% |
| United Midwest Savings Bank | 2 | $1,160,000 | 50% | 9.25% |
| BayFirst National Bank | 2 | $118,500 | 0% | 12.50% |
| The First Bank and Trust Company | 2 | $670,050 | 50% | 10.03% |
| First-Citizens Bank & Trust Company | 2 | $1,130,000 | 0% | 10.12% |
| Live Oak Banking Company | 2 | $1,302,500 | 0% | 8.87% |
| CenTrust Bank | 2 | $150,000 | 0% | 12.38% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 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.
- This is a hard market for new businesses. Only 22% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- No single lender dominates, but the top three made 28% of these loans, so the shortlist below covers most of the active market.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- 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 the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Virginia: professional services, restaurants and hotels, healthcare, construction, personal services, retail
- Finance in comparable states: Wisconsin, Louisiana, Kansas, Mississippi, Kentucky, Nevada