BB&T will be recognized next month as the top SBA lender in the state for fiscal 2012.
The U.S. Small Business Administration next month will honor the top SBA lenders in the state from last year.
But in the first half of fiscal 2013, SBA lenders in Virginia were busy.
A total of 228 loans valued at a combined $80.8 million were made by lenders through the SBA’s Richmond District office from Oct. 1, 2012, through March 31. And thus far in its fiscal year 2013, 61 SBA loans have been borrowed in Chesterfield, Henrico, Hanover and the City of Richmond combined, totaling $30.07 million.
| SBA loan volume for fiscal 2012* | ||
|---|---|---|
| City/county | No. of loans | Total dollars lent |
| Chesterfield | 27 | $16,939,800 |
| Hanover | 13 | $1,209,800 |
| Henrico | 45 | $19,932,900 |
| Richmond | 21 | $11,429,800 |
| Total | 106 | $49,512,300 |
*Includes 7(a) and 504 SBA loans
As has been the case for at least the past several years, BB&T made the most SBA loans in the administration’s Virginia district during that period and for all of 2012.
The bank will be recognized next month as the top overall lender in the state for fiscal 2012 at an awards luncheon in Richmond.
BB&T made 72 SBA loans valued a total of $17.73 million in fiscal 2012, according to SBA records.
That’s down in volume from the previous year for the bank but up more than $2 million in the amount.
Through March 31, 2013, BB&T had made 32 SBA loans through the Virginia district totaling $7.65 million.
Its nearest competitor in total loans made through the first half of fiscal 2013 is Wells Fargo, with 25 SBA loans totaling $6.8 million.
SunTrust leads in total dollar amount through March 31 with 12 loans at $9.48 million.
A few locally based banks have been in on the action for fiscal 2013: Union First Market Bank has made four SBA loans totaling $1.98 million, as of March 31. New Horizon Bank, a young bank in Powhatan, made one SBA loan for $162,000. And Village Bank and EVB each made one SBA loan as March 31.
Several of the bigger regional banks that have a large Richmond presence are also active SBA lenders in the district.
M&T Bank was third on the list in volume through March 31, with 20 SBA loans in the Virginia district for a total of $2.84 million.
Christiansburg-based StellarOne Bank, which has been increasing its stake in Richmond, was fourth in volume through March 31, with 14 loans totaling $1.6 million.
For fiscal 2012 in the SBA’s Virginia district, 515 loans from 93 lenders were made at total of $202.98 million. That was compared with 629 loans for $214.9 million in fiscal 2011.
Of that 2012 total, 106 loans were borrowed in the Richmond metro area, totaling $49.51 million.
BB&T will be recognized next month as the top SBA lender in the state for fiscal 2012.
The U.S. Small Business Administration next month will honor the top SBA lenders in the state from last year.
But in the first half of fiscal 2013, SBA lenders in Virginia were busy.
A total of 228 loans valued at a combined $80.8 million were made by lenders through the SBA’s Richmond District office from Oct. 1, 2012, through March 31. And thus far in its fiscal year 2013, 61 SBA loans have been borrowed in Chesterfield, Henrico, Hanover and the City of Richmond combined, totaling $30.07 million.
| SBA loan volume for fiscal 2012* | ||
|---|---|---|
| City/county | No. of loans | Total dollars lent |
| Chesterfield | 27 | $16,939,800 |
| Hanover | 13 | $1,209,800 |
| Henrico | 45 | $19,932,900 |
| Richmond | 21 | $11,429,800 |
| Total | 106 | $49,512,300 |
*Includes 7(a) and 504 SBA loans
As has been the case for at least the past several years, BB&T made the most SBA loans in the administration’s Virginia district during that period and for all of 2012.
The bank will be recognized next month as the top overall lender in the state for fiscal 2012 at an awards luncheon in Richmond.
BB&T made 72 SBA loans valued a total of $17.73 million in fiscal 2012, according to SBA records.
That’s down in volume from the previous year for the bank but up more than $2 million in the amount.
Through March 31, 2013, BB&T had made 32 SBA loans through the Virginia district totaling $7.65 million.
Its nearest competitor in total loans made through the first half of fiscal 2013 is Wells Fargo, with 25 SBA loans totaling $6.8 million.
SunTrust leads in total dollar amount through March 31 with 12 loans at $9.48 million.
A few locally based banks have been in on the action for fiscal 2013: Union First Market Bank has made four SBA loans totaling $1.98 million, as of March 31. New Horizon Bank, a young bank in Powhatan, made one SBA loan for $162,000. And Village Bank and EVB each made one SBA loan as March 31.
Several of the bigger regional banks that have a large Richmond presence are also active SBA lenders in the district.
M&T Bank was third on the list in volume through March 31, with 20 SBA loans in the Virginia district for a total of $2.84 million.
Christiansburg-based StellarOne Bank, which has been increasing its stake in Richmond, was fourth in volume through March 31, with 14 loans totaling $1.6 million.
For fiscal 2012 in the SBA’s Virginia district, 515 loans from 93 lenders were made at total of $202.98 million. That was compared with 629 loans for $214.9 million in fiscal 2011.
Of that 2012 total, 106 loans were borrowed in the Richmond metro area, totaling $49.51 million.
Glad to see this. Now we just need the banks to do just a little more to get more small businesses involved. We are seeing a record number of applications from business owners that can’t get approved for SBA loans. Most of these businesses have been doing really well with alternative financing. Well hopefully guidelines loosen up a bit soon and everyone across the board will benefit.