SBA 7(a) and 504 loans by industry, FY2026
Counts are loans approved in SBA fiscal year 2026 for each industry group, with the change from fiscal 2025. Broad sectors such as construction and retail are larger because they include many trades and store types; the narrower groups, such as dentists or laundromats, are single industries. Of the 22 industries, 21 had fewer 7(a) loans than a year earlier; only hotels had more.
The median is the middle loan: half were smaller and half larger. It is a better guide than the average because a few very large loans pull the average up. The median 7(a) loan across all industries was $220,000, up from $167,000 in FY2025. 504 loans finance owner-occupied real estate and major equipment through certified development companies.
| Industry | 7(a) loans | Change vs FY2025 | 7(a) dollars | Median 7(a) loan | 504 loans |
|---|---|---|---|---|---|
| Restaurants and bars | 6,038 | -23% | $3.15 billion | $300,000 | 585 |
| Hotels and motels | 864 | +4% | $2.37 billion | $2,654,000 | 281 |
| Trucking | 1,030 | -57% | $391.0 million | $100,000 | 66 |
| Construction (all trades) | 7,377 | -30% | $3.10 billion | $150,000 | 615 |
| Plumbing, heating and air-conditioning contractors | 1,082 | -23% | $493.3 million | $218,000 | 88 |
| Auto repair and maintenance | 1,796 | -24% | $1.04 billion | $221,000 | 334 |
| Beauty salons, nail salons and barber shops | 1,277 | -33% | $304.9 million | $100,000 | 59 |
| Dentists | 631 | -22% | $626.5 million | $350,000 | 78 |
| Doctors, clinics and other outpatient care (excluding dentists) | 3,586 | -26% | $1.67 billion | $200,000 | 479 |
| Veterinary practices | 231 | -33% | $272.9 million | $575,000 | 27 |
| Pharmacies | 240 | -29% | $202.8 million | $500,000 | 8 |
| Gyms and fitness centers | 1,382 | -14% | $671.6 million | $300,000 | 92 |
| Child day care | 869 | -24% | $811.3 million | $427,000 | 183 |
| Landscaping services | 916 | -24% | $354.6 million | $143,000 | 59 |
| Janitorial and cleaning services | 564 | -24% | $137.7 million | $142,000 | 13 |
| Laundromats and dry cleaners | 368 | -18% | $247.2 million | $371,000 | 39 |
| Gas stations | 581 | -15% | $1.12 billion | $1,517,000 | 80 |
| Convenience stores | 258 | -13% | $155.6 million | $350,000 | 14 |
| Car dealers | 218 | -40% | $141.0 million | $350,000 | 67 |
| Insurance agencies and brokerages | 687 | -20% | $335.2 million | $200,000 | 67 |
| Manufacturing (all) | 3,231 | -27% | $2.48 billion | $285,000 | 567 |
| Retail trade (all stores) | 6,307 | -28% | $4.24 billion | $255,000 | 654 |
| All 7(a) loans (every industry) | 56,130 | -28% | $32.43 billion | $220,000 | 6,075 |
Interest rates, terms and SBA Express use by industry
The rate shown is the median total interest rate at approval (base rate plus the lender's spread). Industries that borrow larger amounts over longer terms, such as hotels (8.00%) and gas stations (8.25%), had lower median rates than those borrowing smaller amounts, such as trucking (9.74%). The median term was 25 years for hotels and gas stations, where loans usually include property, and 10 years for most other industries.
SBA Express loans, which go up to $500,000 and use the lender's own forms and procedures, made up 34% of all 7(a) loans. The share was highest for construction firms (49%), landscapers (46%) and plumbing and HVAC contractors (45%), and lowest for hotels (4%). Lines of credit are 7(a) loans the SBA records as revolving.
| Industry | Median rate at approval | Variable-rate share | Median term | SBA Express share | Line-of-credit share |
|---|---|---|---|---|---|
| Restaurants and bars | 9.25% | 87% | 10 years | 27% | 0% |
| Hotels and motels | 8.00% | 98% | 25 years | 4% | 0% |
| Trucking | 9.74% | 85% | 10 years | 45% | 0% |
| Construction (all trades) | 9.74% | 86% | 10 years | 49% | 0% |
| Plumbing, heating and air-conditioning contractors | 9.50% | 86% | 10 years | 45% | 0% |
| Auto repair and maintenance | 9.49% | 86% | 10 years | 35% | 0% |
| Beauty salons, nail salons and barber shops | 9.75% | 78% | 10 years | 41% | 0% |
| Dentists | 9.24% | 89% | 10 years | 20% | 0% |
| Doctors, clinics and other outpatient care (excluding dentists) | 9.50% | 87% | 10 years | 34% | 0% |
| Veterinary practices | 7.89% | 83% | 10.2 years | 18% | 0% |
| Pharmacies | 9.00% | 87% | 10 years | 29% | 0% |
| Gyms and fitness centers | 9.25% | 89% | 10 years | 25% | 0% |
| Child day care | 9.00% | 86% | 10 years | 21% | 0% |
| Landscaping services | 9.50% | 85% | 10 years | 46% | 0% |
| Janitorial and cleaning services | 9.75% | 86% | 10 years | 41% | 0% |
| Laundromats and dry cleaners | 8.75% | 86% | 10 years | 20% | 0% |
| Gas stations | 8.25% | 95% | 25 years | 8% | 0% |
| Convenience stores | 9.00% | 92% | 10 years | 34% | 0% |
| Car dealers | 9.62% | 94% | 10 years | 22% | 0% |
| Insurance agencies and brokerages | 9.75% | 90% | 10 years | 26% | 0% |
| Manufacturing (all) | 9.25% | 86% | 10 years | 33% | 0% |
| Retail trade (all stores) | 9.25% | 89% | 10 years | 30% | 0% |
| All 7(a) loans | 9.50% | 87% | 10 years | 34% | 0% |
Startups, acquisitions and franchises by industry
Lenders record each borrower's stage. The startup column combines businesses opening with the loan and businesses two years old or younger. Gyms (66%), restaurants (47%) and veterinary practices (46%) had the highest shares, so a new business in those industries is common in SBA lending, not an exception.
Change of ownership means the loan helped buy an existing business. It was most common for gas stations (34%), laundromats and dry cleaners (28%) and hotels (28%). Franchise loans were concentrated in hotels (67%), gas stations (52%) and gyms (46%).
| Industry | Startups and businesses up to 2 years old | Buying an existing business | Franchise |
|---|---|---|---|
| Restaurants and bars | 47% | 13% | 28% |
| Hotels and motels | 32% | 28% | 67% |
| Trucking | 20% | 6% | 3% |
| Construction (all trades) | 21% | 10% | 8% |
| Plumbing, heating and air-conditioning contractors | 23% | 12% | 9% |
| Auto repair and maintenance | 24% | 18% | 8% |
| Beauty salons, nail salons and barber shops | 28% | 6% | 9% |
| Dentists | 22% | 8% | 0% |
| Doctors, clinics and other outpatient care (excluding dentists) | 32% | 10% | 10% |
| Veterinary practices | 46% | 9% | 0% |
| Pharmacies | 29% | 25% | 7% |
| Gyms and fitness centers | 66% | 7% | 46% |
| Child day care | 42% | 15% | 28% |
| Landscaping services | 26% | 15% | 6% |
| Janitorial and cleaning services | 28% | 12% | 21% |
| Laundromats and dry cleaners | 38% | 28% | 5% |
| Gas stations | 32% | 34% | 52% |
| Convenience stores | 23% | 23% | 5% |
| Car dealers | 13% | 6% | 3% |
| Insurance agencies and brokerages | 19% | 16% | 5% |
| Manufacturing (all) | 23% | 17% | 5% |
| Retail trade (all stores) | 31% | 18% | 14% |
| All 7(a) loans | 30% | 13% | 14% |
How 2020 to 2022 SBA loans have performed so far, by industry
To show risk by industry we followed every 7(a) loan approved in FY2020, FY2021 and FY2022 and counted how many the SBA had charged off, and how many were paid in full, by September 30, 2026. Across all industries 3.5% had been charged off. Trucking (7.2%), cleaning companies (6.7%) and car dealers (6.0%) were highest; veterinary practices (0.2%), hotels (0.3%) and gas stations (0.5%) were lowest.
This is not a default rate. Many of these loans are still being repaid and some will still be charged off, and loans approved later have not been followed. A charge-off is the point at which the SBA writes off what is left of a loan; it is not the same as a missed payment. The figures compare industries; they do not predict how a single business will do.
| Industry | Loans approved FY2020-FY2022 | Charged off | Paid in full |
|---|---|---|---|
| Restaurants and bars | 13,697 | 3.4% | 36% |
| Hotels and motels | 3,267 | 0.3% | 43% |
| Trucking | 7,284 | 7.2% | 46% |
| Construction (all trades) | 16,160 | 4.3% | 43% |
| Plumbing, heating and air-conditioning contractors | 2,171 | 3.0% | 42% |
| Auto repair and maintenance | 4,632 | 2.4% | 36% |
| Beauty salons, nail salons and barber shops | 2,414 | 4.4% | 35% |
| Dentists | 1,939 | 0.6% | 38% |
| Doctors, clinics and other outpatient care (excluding dentists) | 7,474 | 2.6% | 35% |
| Veterinary practices | 822 | 0.2% | 39% |
| Pharmacies | 769 | 2.1% | 37% |
| Gyms and fitness centers | 2,467 | 3.9% | 37% |
| Child day care | 2,021 | 1.2% | 34% |
| Landscaping services | 2,384 | 3.9% | 43% |
| Janitorial and cleaning services | 950 | 6.7% | 36% |
| Laundromats and dry cleaners | 750 | 3.1% | 35% |
| Gas stations | 2,129 | 0.5% | 42% |
| Convenience stores | 809 | 2.0% | 39% |
| Car dealers | 621 | 6.0% | 34% |
| Insurance agencies and brokerages | 2,024 | 2.2% | 44% |
| Manufacturing (all) | 9,839 | 2.4% | 39% |
| Retail trade (all stores) | 19,036 | 3.5% | 37% |
| All 7(a) loans | 141,832 | 3.5% | 39% |
Which lender made the most SBA loans in each industry
The lender below holds the most FY2026 7(a) loans in each industry; the SBA data names the lender each loan is currently assigned to. Some lenders concentrate on certain industries: Live Oak Banking Company holds 35% of veterinary loans and 26% of loans to dentists. The most active lender in your industry is worth asking, alongside your own bank.
| Industry | Lender with the most 7(a) loans | Its 7(a) loans | Share of the industry's loans |
|---|---|---|---|
| Restaurants and bars | Newtek Bank, National Association | 707 | 12% |
| Hotels and motels | GBank | 126 | 15% |
| Trucking | The Huntington National Bank | 152 | 15% |
| Construction (all trades) | U.S. Bank, National Association | 760 | 10% |
| Plumbing, heating and air-conditioning contractors | U.S. Bank, National Association | 108 | 10% |
| Auto repair and maintenance | U.S. Bank, National Association | 156 | 9% |
| Beauty salons, nail salons and barber shops | U.S. Bank, National Association | 136 | 11% |
| Dentists | Live Oak Banking Company | 164 | 26% |
| Doctors, clinics and other outpatient care (excluding dentists) | Newtek Bank, National Association | 395 | 11% |
| Veterinary practices | Live Oak Banking Company | 80 | 35% |
| Pharmacies | First Financial Bank | 31 | 13% |
| Gyms and fitness centers | The Huntington National Bank | 186 | 13% |
| Child day care | Live Oak Banking Company | 73 | 8% |
| Landscaping services | Newtek Bank, National Association | 73 | 8% |
| Janitorial and cleaning services | Newtek Bank, National Association | 59 | 10% |
| Laundromats and dry cleaners | The Huntington National Bank | 18 | 5% |
| Gas stations | US Metro Bank | 44 | 8% |
| Convenience stores | Manufacturers and Traders Trust Company | 28 | 11% |
| Car dealers | Northeast Bank | 54 | 25% |
| Insurance agencies and brokerages | Live Oak Banking Company | 82 | 12% |
| Manufacturing (all) | Newtek Bank, National Association | 297 | 9% |
| Retail trade (all stores) | Newtek Bank, National Association | 509 | 8% |
The 10 most common business types for SBA 7(a) loans
Ranked by six-digit industry code, the ten business types below received the most 7(a) loans in FY2026. Together they account for 23% of all 7(a) loans.
| Rank | Business type | NAICS code | 7(a) loans | Share of all 7(a) loans |
|---|---|---|---|---|
| 1 | Full-Service Restaurants | 722511 | 2,796 | 5% |
| 2 | Limited-Service Restaurants | 722513 | 1,857 | 3% |
| 3 | Fitness and Recreational Sports Centers | 713940 | 1,382 | 2% |
| 4 | Residential Remodelers | 236118 | 1,148 | 2% |
| 5 | Plumbing, Heating, and Air-Conditioning Contractors | 238220 | 1,082 | 2% |
| 6 | Snack and Nonalcoholic Beverage Bars | 722515 | 1,074 | 2% |
| 7 | All Other Specialty Trade Contractors | 238990 | 931 | 2% |
| 8 | General Automotive Repair | 811111 | 921 | 2% |
| 9 | Landscaping Services | 561730 | 916 | 2% |
| 10 | Child Care Services | 624410 | 869 | 2% |
What these numbers mean if you need funding
With fewer SBA loans approved in FY2026 in almost every industry, it pays to apply with a complete file. In industries where Express loans are common, such as construction firms, landscapers and plumbing and HVAC contractors, a smaller Express loan is a normal route. In hotels and gas stations, where loans usually include property, the median 7(a) term was 25 years.
For 7(a) and 504 loans the SBA does not lend the money itself: it guarantees loans made by banks, credit unions, other approved lenders and certified development companies, and each lender sets its own standards on top of SBA rules. Owners who cannot wait for an SBA decision, or whose file does not fit yet, can compare faster non-SBA options.
- Compare your loan size with the median for your industry before you apply.
- Ask the most active SBA lender in your industry as well as your own bank.
- If you are buying a business, ask about a change-of-ownership 7(a) loan.
- For property or major equipment, ask a certified development company about 504.
Methodology and how to cite this data
Source: U.S. Small Business Administration 7(a) and 504 FOIA loan-level data (FOIA_7a_FY2020_Present and FOIA_504_FY2010_Present, data as of September 30, 2026) and its data dictionary, published on data.sba.gov. Loans are counted by approval fiscal year and include loans later cancelled, as in the SBA's own approval totals; the FY2026 file matches the published total of 56,130 7(a) loans. Industries are grouped by the borrower's NAICS code.
Groups: restaurants and bars 7224-7225; hotels and motels 7211; trucking 484; construction 23; plumbing and HVAC 238220; auto repair 8111; salons and barbers 812111-812113; dentists 621210; doctors and clinics 621 except 621210; veterinary 541940; pharmacies 456110 or 446110; gyms 713940; child day care 624410; landscaping 561730; cleaning 561720; laundromats and dry cleaners 812310-812320; gas stations 457110-457120 or 447110-447190; convenience stores 445131 or 445120; car dealers 441110-441120; insurance agencies 524210; manufacturing 31-33; retail 44-45. Online retailers are not shown separately because current industry codes no longer separate them.
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