SBA lending by year, FY2022 to FY2026
SBA 7(a) approvals rose three years in a row, from 47,678 loans in FY2022 to 78,078 in FY2025, then fell to 56,130 in FY2026, a drop of 28%. Dollar volume fell less, from $37.29 billion to $32.43 billion, so the average loan size went up.
504 loans for owner-occupied real estate and long-life equipment fell from 9,254 in FY2022 to 5,924 in FY2023, recovered to 6,762 in FY2025 and dipped to 6,075 in FY2026. SBA microloans, made through nonprofit intermediaries in amounts up to $50,000, peaked at 5,585 in FY2023 and fell to 3,712 in FY2026, the lowest of the five years.
SBA fiscal years run from October 1 to September 30, so FY2026 covers October 2025 through September 2026. Counts are loan approvals, not disbursements; an approved loan can later be cancelled or reduced.
| Fiscal year | 7(a) loans | 7(a) dollars | Average 7(a) loan | 504 loans | 504 dollars | Microloans | Microloan dollars |
|---|---|---|---|---|---|---|---|
| FY2022 | 47,678 | $25.69 billion | $539,000 | 9,254 | $9.21 billion | 5,085 | $83.7 million |
| FY2023 | 57,362 | $27.52 billion | $480,000 | 5,924 | $6.42 billion | 5,585 | $87.3 million |
| FY2024 | 70,242 | $31.12 billion | $443,000 | 5,993 | $6.66 billion | 5,323 | $85.8 million |
| FY2025 | 78,078 | $37.29 billion | $478,000 | 6,762 | $7.80 billion | 4,605 | $74.2 million |
| FY2026 | 56,130 | $32.43 billion | $578,000 | 6,075 | $7.09 billion | 3,712 | $60.2 million |
Which lenders make the most SBA 7(a) loans
1,256 lenders approved at least one 7(a) loan in FY2026, down from 1,426 in FY2025, and volume is concentrated: the ten most active lenders below approved 26,033 loans, 46% of the national total. A high count with a low average points to a lender doing many smaller loans; a lower count with a high average points to larger loans.
Rankings use loan approvals in the SBA 7(a) Lender Activity Report. A lender headquartered in one state can lend nationwide, so the city shown is the lender's base, not where its borrowers are.
| Lender | Based in | 7(a) loans | Dollars approved | Average loan |
|---|---|---|---|---|
| Newtek Bank, National Association | Miami, FL | 5,035 | $1.38 billion | $274,000 |
| Northeast Bank | Lewiston, ME | 3,599 | $668.7 million | $186,000 |
| The Huntington National Bank | Columbus, OH | 3,368 | $1.38 billion | $409,000 |
| U.S. Bank, National Association | Cincinnati, OH | 3,068 | $943.0 million | $307,000 |
| Manufacturers and Traders Trust Company | Buffalo, NY | 2,975 | $326.4 million | $110,000 |
| Live Oak Banking Company | Wilmington, NC | 2,411 | $2.58 billion | $1,072,000 |
| TD Bank, National Association | Wilmington, DE | 1,953 | $305.3 million | $156,000 |
| Readycap Lending, LLC | Berkeley Heights, NJ | 1,494 | $451.3 million | $302,000 |
| Celtic Bank Corporation | Salt Lake City, UT | 1,099 | $538.6 million | $490,000 |
| Zions Bancorporation, National Association | Salt Lake City, UT | 1,031 | $318.7 million | $309,000 |
Top SBA 7(a) lenders by dollars approved
Ranked by dollars instead of loans, the list changes. Live Oak Banking Company approved $2.58 billion across 2,411 loans, an average of about $1,072,000 per loan, far above the national average of about $578,000.
| Lender | 7(a) loans | Dollars approved | Average loan |
|---|---|---|---|
| Live Oak Banking Company | 2,411 | $2.58 billion | $1,072,000 |
| Newtek Bank, National Association | 5,035 | $1.38 billion | $274,000 |
| The Huntington National Bank | 3,368 | $1.38 billion | $409,000 |
| U.S. Bank, National Association | 3,068 | $943.0 million | $307,000 |
| Northeast Bank | 3,599 | $668.7 million | $186,000 |
| Bank of Hope | 458 | $585.6 million | $1,279,000 |
| Byline Bank | 427 | $580.6 million | $1,360,000 |
| GBank | 170 | $559.2 million | $3,290,000 |
| Celtic Bank Corporation | 1,099 | $538.6 million | $490,000 |
| US Metro Bank | 272 | $528.3 million | $1,942,000 |
SBA lending by state, FY2026
California had the most 7(a) approvals in FY2026 (6,890), followed by Texas (4,698) and Florida (4,559). Every state and the District of Columbia had fewer 7(a) approvals than in FY2025. Big states naturally lead on totals, so the table also shows 7(a) loans per 1,000 employer businesses, which compares states of different sizes.
On that measure New Hampshire (12.5 loans per 1,000 businesses), Idaho (11.2) and Utah (11.0) led; Hawaii (3.1) and North Dakota (3.5) were lowest. States are assigned by where the project is located, not where the lender is based.
The per-1,000 rate divides FY2026 7(a) approvals by the Census Bureau's 2023 count of business locations with paid employees in each state. It is a comparison aid, not an approval rate: it does not show how many owners applied.
| State | 7(a) loans | 7(a) dollars | Average 7(a) loan | 7(a) loans per 1,000 employer businesses | 504 loans | Microloans |
|---|---|---|---|---|---|---|
| Alabama | 395 | $289.6 million | $733,000 | 3.7 | 49 | 11 |
| Alaska | 89 | $70.5 million | $792,000 | 4.0 | 23 | 11 |
| Arizona | 1,223 | $814.7 million | $666,000 | 7.5 | 177 | 29 |
| Arkansas | 327 | $259.6 million | $794,000 | 4.6 | 22 | 21 |
| California | 6,890 | $4.16 billion | $604,000 | 6.7 | 1,317 | 95 |
| Colorado | 1,474 | $893.1 million | $606,000 | 8.1 | 156 | 111 |
| Connecticut | 850 | $298.4 million | $351,000 | 9.5 | 102 | 97 |
| Delaware | 220 | $91.1 million | $414,000 | 7.4 | 4 | 7 |
| District of Columbia | 161 | $80.5 million | $500,000 | 6.8 | 5 | 51 |
| Florida | 4,559 | $2.76 billion | $606,000 | 7.1 | 590 | 13 |
| Georgia | 1,599 | $1.21 billion | $759,000 | 6.1 | 183 | 58 |
| Guam | 4 | $450,000 | $112,000 | n/a | 1 | 0 |
| Hawaii | 103 | $25.2 million | $245,000 | 3.1 | 24 | 10 |
| Idaho | 648 | $283.4 million | $437,000 | 11.2 | 96 | 27 |
| Illinois | 1,746 | $1.06 billion | $606,000 | 5.4 | 267 | 93 |
| Indiana | 935 | $546.3 million | $584,000 | 6.0 | 109 | 153 |
| Iowa | 308 | $181.0 million | $588,000 | 3.7 | 55 | 40 |
| Kansas | 383 | $237.1 million | $619,000 | 5.0 | 37 | 17 |
| Kentucky | 483 | $267.9 million | $555,000 | 5.1 | 18 | 188 |
| Louisiana | 439 | $264.1 million | $602,000 | 4.0 | 20 | 7 |
| Maine | 253 | $89.3 million | $353,000 | 5.8 | 47 | 72 |
| Maryland | 1,236 | $551.8 million | $446,000 | 8.6 | 38 | 154 |
| Massachusetts | 1,485 | $500.3 million | $337,000 | 8.1 | 192 | 80 |
| Michigan | 1,486 | $845.6 million | $569,000 | 6.5 | 128 | 61 |
| Minnesota | 1,062 | $572.7 million | $539,000 | 6.9 | 218 | 96 |
| Mississippi | 297 | $227.3 million | $765,000 | 4.9 | 6 | 17 |
| Missouri | 821 | $543.7 million | $662,000 | 5.4 | 62 | 291 |
| Montana | 166 | $124.5 million | $750,000 | 3.9 | 40 | 6 |
| Nebraska | 281 | $147.7 million | $526,000 | 5.0 | 28 | 64 |
| Nevada | 614 | $352.4 million | $574,000 | 7.9 | 100 | 9 |
| New Hampshire | 493 | $171.2 million | $347,000 | 12.5 | 63 | 15 |
| New Jersey | 2,021 | $1.02 billion | $504,000 | 8.5 | 75 | 153 |
| New Mexico | 222 | $99.2 million | $447,000 | 4.9 | 26 | 27 |
| New York | 3,613 | $1.49 billion | $412,000 | 6.7 | 198 | 319 |
| North Carolina | 1,444 | $1.06 billion | $734,000 | 5.6 | 71 | 56 |
| North Dakota | 89 | $65.4 million | $735,000 | 3.5 | 43 | 10 |
| Ohio | 1,983 | $1.07 billion | $540,000 | 7.8 | 113 | 477 |
| Oklahoma | 461 | $333.3 million | $723,000 | 4.8 | 23 | 23 |
| Oregon | 995 | $508.5 million | $511,000 | 8.1 | 62 | 27 |
| Pennsylvania | 1,873 | $988.8 million | $528,000 | 6.1 | 105 | 190 |
| Puerto Rico | 603 | $90.6 million | $150,000 | n/a | 46 | 9 |
| Rhode Island | 175 | $56.4 million | $322,000 | 5.9 | 39 | 12 |
| South Carolina | 678 | $458.9 million | $677,000 | 5.5 | 44 | 45 |
| South Dakota | 115 | $60.7 million | $528,000 | 4.0 | 76 | 10 |
| Tennessee | 842 | $559.2 million | $664,000 | 5.6 | 22 | 15 |
| Texas | 4,698 | $3.69 billion | $786,000 | 7.0 | 270 | 88 |
| U.S. Virgin Islands | 8 | $6.0 million | $744,000 | n/a | 0 | 0 |
| Utah | 1,052 | $543.2 million | $516,000 | 11.0 | 256 | 35 |
| Vermont | 151 | $42.5 million | $282,000 | 7.2 | 12 | 49 |
| Virginia | 1,122 | $607.8 million | $542,000 | 5.3 | 105 | 103 |
| Washington | 1,846 | $1.12 billion | $606,000 | 9.1 | 96 | 43 |
| West Virginia | 146 | $59.9 million | $410,000 | 4.1 | 6 | 20 |
| Wisconsin | 861 | $513.8 million | $597,000 | 5.9 | 188 | 79 |
| Wyoming | 102 | $58.3 million | $572,000 | 4.3 | 22 | 18 |
Most active SBA 504 lenders (certified development companies)
170 certified development companies approved 504 loans in FY2026. A 504 project usually combines a bank loan, a CDC loan backed by the SBA and an owner contribution, so the CDC that originates the 504 portion matters as much as the bank.
| Certified development company | Based in | 504 loans | Dollars approved |
|---|---|---|---|
| The Mortgage Capital Development Corporation | Oakland, CA | 471 | $734.2 million |
| Florida Business Development Corporation | Tampa, FL | 379 | $407.5 million |
| Business Finance Capital | Los Angeles, CA | 335 | $455.2 million |
| Florida First Capital Finance Corporation, Inc. | Tallahassee, FL | 276 | $361.4 million |
| California Statewide Certified Development Corporation | Davis, CA | 274 | $372.4 million |
How many small businesses are there, by industry
Most employer businesses are small. Of the 8,361,342 business locations with paid employees that the Census Bureau counted in 2023, 73% had fewer than 10 employees. Real estate, beauty salons, landscaping and auto repair have the highest shares of locations with fewer than 10 employees; in restaurants and hotels it is about half or less.
County Business Patterns counts locations (establishments) with paid employees. It does not include the self-employed with no staff, so the total number of small businesses in the country is larger than these figures.
| Industry | Locations with employees | Share with fewer than 10 employees | Average annual pay per employee |
|---|---|---|---|
| Restaurants, bars and food service (NAICS 722) | 714,532 | 47% | $25,000 |
| Retail stores (NAICS 44-45) | 1,043,373 | 68% | $38,000 |
| Construction (NAICS 23) | 814,557 | 82% | $77,000 |
| Outpatient healthcare practices (NAICS 621) | 701,862 | 73% | $71,000 |
| Real estate (NAICS 531) | 414,824 | 93% | $69,000 |
| Manufacturing (NAICS 31-33) | 284,452 | 53% | $73,000 |
| Trucking (NAICS 484) | 170,286 | 82% | $61,000 |
| Auto repair and maintenance (NAICS 8111) | 169,572 | 84% | $49,000 |
| Dental offices (NAICS 621210) | 135,665 | 73% | $61,000 |
| Landscaping services (NAICS 561730) | 117,969 | 85% | $51,000 |
| Beauty salons (NAICS 812112) | 84,176 | 87% | withheld |
| Hotels and lodging (NAICS 721) | 70,350 | 53% | $41,000 |
| Janitorial services (NAICS 561720) | 67,799 | 77% | $30,000 |
| Fitness centers (NAICS 713940) | 41,556 | 59% | $19,000 |
What these numbers mean if you need funding
7(a) lending shrank in FY2026: 56,130 approvals against 78,078 the year before, from 1,256 lenders instead of 1,426. With fewer loans being approved, a complete, well-prepared file matters more. For an owner who has the time and paperwork an SBA lender needs, a 7(a) loan is still often among the lowest-cost long-term options, and the lenders above are still making them.
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 credit standards on top of SBA rules. Owners who cannot wait, or whose file does not fit an SBA lender yet, usually compare a term loan, line of credit or equipment financing first, and the figures above are a useful benchmark when a faster offer costs much more.
- Check whether your loan size fits SBA Express (up to $500,000) or a standard 7(a).
- Ask an active SBA lender in your state, not only your own bank.
- For property or major equipment, ask a certified development company about 504.
- For amounts up to $50,000, look at SBA microloan intermediaries.
Methodology and how to cite this data
Sources: SBA 7(a) Lender Activity Report, 504 CDC Activity Report, Congressional District Approvals Report and Monthly and Yearly Activity Report for FY2026 (year-end, data as of September 30, 2026), published on data.sba.gov; the FY2025 year-end 7(a) Lender Activity Report for the prior-year lender count; U.S. Census Bureau County Business Patterns 2023 state file, all legal forms of organization.
National, lender and state figures use the lender and CDC reports. Year-by-year 7(a) and 504 totals use the Monthly and Yearly Activity Report, which agrees with the lender report for FY2026 (56,130 7(a) loans); microloans use the Congressional District Approvals Report. Earlier years come from the current reports, so they can differ slightly from figures published a year ago, because the SBA updates past approvals. State changes compare FY2026 with the FY2025 year-end lender report. Averages are dollars approved divided by loans approved. Industry figures use NAICS codes shown in the table; average pay is annual payroll divided by employees and is shown only where Census reports it without disclosure suppression.
You are welcome to quote or chart these figures. Please credit Now Biz Fund and link to this page so readers can see the sources and methodology.