VIRGINIA · NAICS NAICS 445310, 445320
Virginia is an ABC control state where spirits retail runs through Virginia ABC stores, so private ownership concentrates in beer and wine retail and bottle shops. The state's craft beverage depth feeds specialty retail demand, and where an acquisition carries goodwill above $250,000 of intangible value, the independent going-concern appraisal applies alongside any study.
FEASIBILITY TRIGGER
Virginia is an ABC control state; private ownership concentrates in beer and wine retail and bottle shops. Where acquisition goodwill exceeds $250,000, the independent going-concern appraisal applies alongside any study.
Between FY2010 and FY2026, SBA lenders approved and disbursed 25 7(a) and 504 loans for liquor store projects in Virginia, totaling $5.4 million in approved financing at an average of $216,000 per loan. Virginia ranks #29 of 38 states tracked for liquor store SBA lending volume and accounts for 0.1% of national liquor store SBA dollar volume. 88.0% of these loans were made under the 7(a) program, the remainder under 504. 3 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 25 |
| Approved volume | $5.4 million |
| Average loan size | $216,000 |
| 7(a) share | 88.0% |
| Approvals since FY2024 | 3 |
| State rank by loan count | #29 of 38 |
The state-level seasoned cohort in this segment is below our publication threshold of 30 loans, so no state rate is shown. Nationally, seasoned liquor store loans (approvals FY2010–FY2021) show an adverse-resolution rate of 4.4%, against 7.3% across all industries.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 4.4%, close to the national liquor store benchmark of 4.4%, puts Virginia deals in this class on ordinary SBA credit footing. Across 25 loans averaging $216,000, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Virginia liquor stores project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Virginia projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, decisive in Northern Virginia and Hampton Roads land markets. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
The private side of the class runs through bottle shops and beer and wine retail, where the state's craft beverage depth feeds specialty retail demand.
For a national view of this asset class, see our liquor store SBA feasibility overview, and read our related analysis in the liquor store lending research on our blog.
Compare neighboring markets: Texas, Washington.
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