SBA lending dips slightly in Richmond area

BB&T will be recognized next month as the top SBA lender in the state for fiscal 2012.

BB&T made 79 SBA loans in Virginia in fiscal 2013.

Small business lending across the state saw a bump in fiscal 2013, according to numbers released last week.

The Richmond District Office of the U.S. Small Business Administration approved 537 loans totaling $211.6 million in its fiscal 2013. That’s an $8 million increase from the $203 million total made in FY 2012 through 515 loans.
The top five SBA lenders in the state were BB&T, Wells Fargo, StellarOne Bank, M&T Bank and Sonabank.

BB&T again led the pack in terms of total SBA loans through the Richmond office, with 79 for a total of $15.9 million.

Wells Fargo divvied out the most money through SBA loan programs, with $32.9 million through 71 loans.

The SBA office saw a slight decline in the total amount borrowed in the four main localities of the Richmond region. A total of $48.56 million in SBA loans were approved in Chesterfield County, Hanover County, Henrico County and the City of Richmond in fiscal 2013. That was through 106 loans.

SBA loan volume for fiscal 2013*
City/county No. of loans Total dollars lent
Chesterfield 45 $26,210,700
Hanover 9 $2,838,000
Henrico 36 $12,793,600
Richmond 16 $6,725,000
Total 106 $48,567,300

*Includes 7(a) and 504 SBA loans

In fiscal 2012, $49.51 million in loans was approved.

Businesses in Chesterfield County borrowed the most during the period: 45 loans totaling $26.21 million. A total of 36 loans for $12.79 million went to businesses in Henrico. Sixteen loans were borrowed in the city for $6.72 million. And nine loans in Hanover County totaled $2.83 million.

The SBA Richmond District Office covers all of Virginia except Arlington, Fairfax and Loudon counties, and the cities of Alexandria, Fairfax and Falls Church.

BB&T will be recognized next month as the top SBA lender in the state for fiscal 2012.

BB&T made 79 SBA loans in Virginia in fiscal 2013.

Small business lending across the state saw a bump in fiscal 2013, according to numbers released last week.

The Richmond District Office of the U.S. Small Business Administration approved 537 loans totaling $211.6 million in its fiscal 2013. That’s an $8 million increase from the $203 million total made in FY 2012 through 515 loans.
The top five SBA lenders in the state were BB&T, Wells Fargo, StellarOne Bank, M&T Bank and Sonabank.

BB&T again led the pack in terms of total SBA loans through the Richmond office, with 79 for a total of $15.9 million.

Wells Fargo divvied out the most money through SBA loan programs, with $32.9 million through 71 loans.

The SBA office saw a slight decline in the total amount borrowed in the four main localities of the Richmond region. A total of $48.56 million in SBA loans were approved in Chesterfield County, Hanover County, Henrico County and the City of Richmond in fiscal 2013. That was through 106 loans.

SBA loan volume for fiscal 2013*
City/county No. of loans Total dollars lent
Chesterfield 45 $26,210,700
Hanover 9 $2,838,000
Henrico 36 $12,793,600
Richmond 16 $6,725,000
Total 106 $48,567,300

*Includes 7(a) and 504 SBA loans

In fiscal 2012, $49.51 million in loans was approved.

Businesses in Chesterfield County borrowed the most during the period: 45 loans totaling $26.21 million. A total of 36 loans for $12.79 million went to businesses in Henrico. Sixteen loans were borrowed in the city for $6.72 million. And nine loans in Hanover County totaled $2.83 million.

The SBA Richmond District Office covers all of Virginia except Arlington, Fairfax and Loudon counties, and the cities of Alexandria, Fairfax and Falls Church.

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