SBA 7(a) lenders in Salem, VA
Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.
Lenders
22 institutions have SBA 7(a) loans on record in Salem, together $29.5M across 54 loans. Pinnacle Bank is the largest, with 26% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Pinnacle Bank | 7 | $7.6M | 25.8% | 0.39% |
| 2 | Manufacturers and Traders Trust Company | 2 | $4.8M | 16.4% | 0.00% |
| 3 | Live Oak Banking Company | 3 | $2.2M | 7.5% | 0.00% |
| 4 | Skyline National Bank | 2 | $2.1M | 7.3% | 0.00% |
| 5 | EagleBank | 1 | $2.0M | 6.8% | 0.00% |
| 6 | First-Citizens Bank & Trust Company | 1 | $1.9M | 6.5% | 0.00% |
| 7 | BankUnited, National Association | 1 | $1.9M | 6.3% | 0.00% |
| 8 | Truist Bank | 8 | $1.4M | 4.8% | 0.00% |
| 9 | Newtek Small Business Finance, Inc. | 1 | $945K | 3.2% | 0.00% |
| 10 | Freedom First Federal Credit Union | 4 | $777K | 2.6% | 0.00% |
| 11 | Atlantic Union Bank | 8 | $747K | 2.5% | 0.00% |
| 12 | The First Bank and Trust Company | 2 | $657K | 2.2% | 0.00% |
| 13 | First Bank of the Lake | 1 | $495K | 1.7% | 0.00% |
| 14 | Wells Fargo Bank National Association | 5 | $440K | 1.5% | 0.00% |
| 15 | The National Bank of Blacksburg | 1 | $253K | 0.9% | 0.00% |
| 16 | SouthState Bank, National Association | 1 | $250K | 0.8% | 0.00% |
| 17 | CNB Bank | 1 | $220K | 0.7% | 0.00% |
| 18 | PNC Bank, National Association | 1 | $200K | 0.7% | 0.00% |
| 19 | Seacoast National Bank | 1 | $200K | 0.7% | 62.94% |
| 20 | United Midwest Savings Bank National Association | 1 | $150K | 0.5% | 0.00% |
| 21 | HomeTrust Bank | 1 | $130K | 0.4% | 83.34% |
| 22 | Readycap Lending, LLC | 1 | $30K | 0.1% | 0.00% |
Loss rates cover every approval year on record together. SBA 7(a) losses peak two to four years after approval, so a lender whose lending is mostly recent will show a low rate because its loans have not aged yet, not because they are performing better.
What the money went into
| Rank | Industry | Loans | Approved | Share of county |
|---|---|---|---|---|
| 1 | Other services | 9 | $7.6M | 25.8% |
| 2 | Construction | 8 | $7.1M | 24.2% |
| 3 | Accommodation & food services | 12 | $3.8M | 12.9% |
| 4 | Finance & insurance | 3 | $3.0M | 10.1% |
| 5 | Wholesale trade | 2 | $2.3M | 7.8% |
| 6 | Manufacturing | 4 | $2.1M | 7.2% |
| 7 | Transportation & warehousing | 1 | $945K | 3.2% |
| 8 | Manufacturing | 2 | $753K | 2.6% |
| 9 | Professional & technical services | 3 | $637K | 2.2% |
| 10 | Administrative & waste services | 2 | $438K | 1.5% |
| 11 | Health care & social assistance | 4 | $385K | 1.3% |
| 12 | Retail trade | 2 | $265K | 0.9% |
| 13 | Arts, entertainment & recreation | 1 | $70K | 0.2% |
| 14 | Real estate & leasing | 1 | $40K | 0.1% |
Industry is the borrower’s NAICS sector as recorded by SBA at approval, grouped to the two-digit sector.
About this data
Built from the U.S. Small Business Administration’s 7(a) FOIA data release, a public record covering approvals from fiscal year 2008 onward and refreshed each quarter. SBA fiscal years end 30 September, so the most recent year is partial. Figures are approvals, not outstanding balances, and SBA attributes each loan to the institution that holds it today rather than the one that originated it — an acquisitive lender therefore shows books it did not write.