Lending data
Who actually lends to wholesale businesses in Virginia?
96 SBA 7(a) loans went to wholesale businesses in Virginia recently, at a median of $200,000. Here are the lenders that made them, ranked.
96 SBA 7(a) loans went to wholesale businesses in Virginia in the most recent fiscal years. The median was $200,000 over 10 years. The most active lender was Manufacturers and Traders Trust Company, with 9 loans.
What lending to wholesale 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 | Wholesale trade, Virginia | All 7(a) borrowers |
|---|---|---|
| Loans approved | 96 | 214,102 |
| Median loan | $200,000 | $150,000 |
| 25th - 75th percentile | $102,500 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.50% | 10.25% |
| Share to startups | 24.0% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 9.3% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to wholesale 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 | 9 | $75,000 | 44% | 11.50% |
| Newtek Bank | 7 | $500,000 | 0% | 11.50% |
| TD Bank | 6 | $160,000 | 0% | 11.12% |
| BayFirst National Bank | 6 | $150,000 | 17% | 12.75% |
| First Community Bank | 5 | $100,000 | 40% | 8.50% |
| Celtic Bank Corporation | 4 | $150,000 | 0% | 10.88% |
| SouthState Bank | 4 | $105,000 | 0% | 11.25% |
| Harvest Small Business Finance, LLC | 3 | $692,000 | 33% | 9.50% |
| Pinnacle Bank | 3 | $1,802,000 | 0% | 10.00% |
| Bank of Clarke | 3 | $485,000 | 67% | 10.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $200,000 is 33% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- This is a hard market for new businesses. Only 24% 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.
- Lending here is fragmented. The top three lenders made only 23% of these loans between them, so no single institution owns this market. That is good news: it means shopping genuinely pays.
- Lenders have been burned here before. 9.3% 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.
Which of them lend to new businesses
Of those loans, 24.0% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 4 | $75,000 | 44% | 11.50% |
| Wells Fargo Bank | 3 | $15,000 | 100% | 13.75% |
| Bank of Clarke | 2 | $485,000 | 67% | 10.50% |
| Select Bank | 2 | $175,000 | 100% | 10.25% |
| First Community Bank | 2 | $100,000 | 40% | 8.50% |
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
- Wholesale in comparable states: Maryland, Nevada, Oregon, Tennessee, Connecticut, South Carolina