SBA Loans for Insurance Agencies and Brokerages in Virginia: Top Lenders
NAICS 524NAICS 524 covers insurance agencies and brokerages businesses in Virginia. Based on historical SBA 7(a) lending data.
Total Approvals
6
in Virginia
Median Loan Size
$176,250
per approval
Recent Activity
0
last 90 days through Apr 2024
NAICS 524 covers insurance agencies and brokerages businesses. This is a smaller category in SBA 7(a) lending with 6 approvals on record and a median loan size of $176,250.
Key trends & insights
- Insurance Agencies and Brokerages in Virginia lending is concentrated — Bayfirst National Bank, United Midwest Savings Bank, National Association, MVB Bank, INC. together account for 50% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Bayfirst National Bank leads this industry with 1 approvals (17% market share) and a median loan of $150,000.
- Insurance Agencies and Brokerages in Virginia loans skew smaller than the SBA average at $176,250 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
- SBA data for this industry goes through 2024-04-20 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Insurance Agencies and Brokerages in Virginia
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 1 | $150,000 | |
| 2 | 1 | $250,000 | |
| 3 | 1 | $202,500 | |
| 4 | 1 | $218,000 | |
| 5 | 1 | $150,000 | |
| 6 | 1 | $150,000 |
Recent SBA 7(a) approvals for Insurance Agencies and Brokerages in Virginia
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-11 | CenTrust Bank, A Division of SmartBiz Bank National Associat | Coo*****nc. | VIRGINIA BEACH, VA | $150,000 |
| 2025-09 | Atlantic Union Bank | Pho*****LLC | ALEXANDRIA, VA | $143,000 |
| 2025-04 | Newtek Bank, National Association | A.M*****LLC | Fredericksburg, VA | $50,000 |
| 2025-04 | Newtek Bank, National Association | A.M*****LLC | FREDERICKSBURG, VA | $50,000 |
| 2025-03 | United Midwest Savings Bank National Association | Sec*****LLC | WILLIAMSBURG, VA | $2,070,000 |
| 2024-10 | HomeTrust Bank | Dow*****LLC | CHRISTIANSBURG, VA | $365,000 |
| 2024-08 | SouthState Bank, National Association | 360*****nc. | Richmond, VA | $100,000 |
| 2024-08 | Merchants Bank of Indiana | Cou*****nc. | ROANOKE, VA | $500,000 |
| 2024-07 | First Community Bank | Dow*****LLC | CHRISTIANSBURG, VA | $75,000 |
| 2024-06 | Readycap Lending, LLC | Eli*****LLC | Glen Allen, VA | $50,000 |
| 2024-04 | U.S. Bank, National Association | SH *****LLC | ALEXANDRIA, VA | $182,200 |
| 2024-04 | Lendistry SBLC, LLC | AKe*****LLC | CHESAPEAKE, VA | $150,000 |
| 2024-03 | BayFirst National Bank | Jil*****ene | PURCELLVILLE, VA | $87,000 |
| 2023-12 | Manufacturers and Traders Trust Company | EMP*****LLC | FALLS CHURCH, VA | $5,000 |
| 2023-11 | Manufacturers and Traders Trust Company | TOM*****NC. | NORTH CHESTERFIELD, VA | $40,000 |
| 2023-11 | Manufacturers and Traders Trust Company | TOM*****NC. | NORTH CHESTERFIELD, VA | $60,000 |
| 2023-11 | U.S. Bank, National Association | JOS*****SON | NORFOLK, VA | $40,000 |
| 2023-10 | Readycap Lending, LLC | EZ *****ces | ALDIE, VA | $550,000 |
| 2023-07 | SouthState Bank, National Association | Fid*****nce | Warrenton, VA | $50,000 |
| 2023-05 | BayFirst National Bank | Par*****LLC | FREDERICKSBURG, VA | $150,000 |
| 2023-02 | SNB Bank, National Association | Bey*****LLC | Centreville, VA | $150,000 |
| 2023-01 | U.S. Bank, National Association | Sha*****ent | ALEXANDRIA, VA | $301,500 |
| 2022-10 | United Midwest Savings Bank National Association | 360*****nc. | Richmond, VA | $250,000 |
| 2022-08 | Manufacturers and Traders Trust Company | ROS*****NC. | SPRINGFIELD, VA | $20,000 |
| 2022-08 | Manufacturers and Traders Trust Company | ROS*****NC. | SPRINGFIELD, VA | $20,200 |
| 2022-03 | Blue Ridge Bank National Association | J T*****Inc | Nathalie, VA | $1,119,400 |
| 2021-09 | Truist Bank | Law*****nc. | SALEM, VA | $716,000 |
| 2021-09 | TD Bank, National Association | WAS*****INC | ANNANDALE, VA | $140,000 |
| 2021-09 | Cadence Bank | SMA*****NC. | LEESBURG, VA | $150,000 |
| 2021-08 | United Midwest Savings Bank National Association | Gua*****LLC | Williamsburg, VA | $1,659,000 |
| 2021-08 | U.S. Bank, National Association | Jam*****ger | ABINGDON, VA | $218,000 |
| 2021-08 | MVB Bank, Inc. | M &*****LLC | ALEXANDRIA, VA | $202,500 |
| 2021-08 | The First Bank and Trust Company | WPI*****NC. | Richmond, VA | $1,050,000 |
| 2020-12 | Live Oak Banking Company | Sch*****oup | DANVILLE, VA | $210,000 |
| 2020-11 | United Midwest Savings Bank National Association | ALL*****INC | Farmville, VA | $603,000 |
| 2020-03 | Mechanics and Farmers Bank | Leg*****ces | Newport News, VA | $782,000 |
| 2020-01 | Live Oak Banking Company | Mid*****ces | STERLING, VA | $4,200,000 |
| 2019-11 | Newtek Small Business Finance, Inc. | Sta*****orp | VIRGINIA BEACH, VA | $25,000 |
| 2019-11 | United Midwest Savings Bank National Association | TR *****LLC | Roanoke, VA | $372,000 |
| 2019-11 | United Midwest Savings Bank National Association | Jud*****LLC | MARTINSVILLE, VA | $486,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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