Feasibility Study Data for the Richmond, VA Metro Area

What SBA's files say about Richmond

Across Richmond, the agency's approval files hold 1,729 approved loans over FY2017 to FY2026, totalling $897.9 million in gross dollars. Richmond lands among the full set of areas, measured by loan count, number 61 of 928. The middle half of Richmond loans runs from $85,000 to $500,000, around a typical loan of $225,000; that puts the median at 1.08x the national median. By program, Richmond shows 1,531 loans under 7(a) against 198 in 504. Franchised units took 20.0% of the loans.

Richmond: classes and places

Separately, within the business classes we name for Richmond, the leader is full-service restaurant with 72 loans, trailed by limited-service restaurant, 54 loans and automotive mechanical repair with 51. Also 1,251 loans in Richmond belong to no named class. By county, Henrico County, VA carries 490 loans, then Chesterfield County, VA (456), Richmond city, VA (337) and Hanover County, VA (212).

Richmond: lenders on record

Lenders listed for Richmond are read from SBA's released Richmond records of the 1,729 approved loans in Richmond, whoever holds or held them; the records tie each position and say nothing of lender standards. Besides, for Richmond loans under 7(a), the largest holders are Manufacturers and Traders Trust Company, holding 203 loans worth $18.5 million; after it, Wells Fargo Bank National Association ($26.1 million across 127 loans). In the 504 program near Henrico County, VA, SBA names Business Finance Group, Inc., holding 121 loans worth $71.5 million. Notably, a borrower near Henrico County, VA should ask the Richmond lender Manufacturers and Traders Trust Company and any other Richmond holder near Henrico County, VA what paperwork it requires, then write the Richmond study to satisfy those answers.

Richmond: floors and the yearly line

Among Richmond approvals from FY2017 through FY2024, at least 10.9% ended in cancellation after approval in Richmond, and that is a floor; the full Richmond share can only be higher. Worth noting, of disbursed Richmond loans approved in FY2017 through FY2021, 5.7% have ended in charge-off to date, a second floor; 2.9% had been charged off before the fifth year ended, in a group of 687 loans. Over the decade, Richmond reached its high in FY2025 at 249 loans and $133.7 million, and was weakest in FY2020 at 114 loans and $74.1 million.

Richmond: testing a project

The Richmond study starts with customers: who passes in Henrico County, VA, who travels in Chesterfield County, VA, measured against the wider Richmond area, and how much room 72 full-service restaurant loans leave. Budget: $225,000 is the Richmond median and $85,000 to $500,000 the middle half, so a Henrico County, VA site must price itself against that $225,000 marker. Debt service: Richmond repayment withstands a slow year against the 10.9% cancellation floor with the 5.7% charge-off floor. The appraisal for Richmond has to support the worth lent against. Richmond uses the 2023 July area list; a record whose listed county lacks a CBSA match is absent from every area, Richmond as well, and the totals keep loans beyond any named class.