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How much does the SBA actually lend, to whom, and how often do the loans go bad? This page computes the answers directly from the SBA’s own loan-level FOIA data — every 7(a) and 504 loan approved since 2010, published by the agency and current as of June 30, 2026. In fiscal year 2025 the SBA approved 64,096 7(a) loans for $32.07 billion, at an average of $500,280 per loan.
Methodology: all figures exclude cancelled approvals. SBA fiscal years run October 1 – September 30; FY2026 figures are partial (through June 30, 2026). State assignment uses the project location, not the lender’s address. Guam, Puerto Rico, and the U.S. Virgin Islands are excluded from state tables.
Key SBA Lending Statistics
- The SBA approved 64,096 7(a) loans totaling $32.07 billion in fiscal year 2025, plus 6,530 504 loans totaling $7.56 billion.
- The average 7(a) loan was $500,280 in FY2025; the average 504 loan was $1,157,339.
- California received the most 7(a) loans of any state over FY2021–2025 (30,006), followed by Texas (20,161) and Florida (19,816).
- Adjusted for population, New Hampshire leads the nation with 30.2 7(a) loans per 100,000 residents per year; Alabama is last at 7.2.
- Average loan size varies almost 3× by state: Georgia ($767,701) vs Hawaii ($243,450), FY2021–2025.
- Of the 266,229 7(a) loans approved in FY2010–2015 (all past their most common maturities), 6.9% have been charged off — 3.2% of approved dollars.
- In the first nine months of FY2026 (October 2025 through June 30, 2026), 35,641 7(a) loans have been approved for $19.89 billion — an average of $557,930.
SBA 7(a) Lending by Year
| Fiscal year | Loans approved | Gross approved | Average loan |
|---|---|---|---|
| FY2020 | 36,490 | $19.51 billion | $534,632 |
| FY2021 | 45,360 | $32.2 billion | $709,944 |
| FY2022 | 42,282 | $23.27 billion | $550,336 |
| FY2023 | 51,747 | $24.66 billion | $476,454 |
| FY2024 | 62,618 | $27.52 billion | $439,458 |
| FY2025 | 64,096 | $32.07 billion | $500,280 |
| FY2026 (through June 30) | 35,641 | $19.89 billion | $557,930 |
SBA Loans by State (FY2021–2025)
Five complete fiscal years of 7(a) approvals, by project state. “Per 100k/yr” is annual loans per 100,000 residents — the fairest way to compare small states with large ones.
| State | 7(a) loans | Gross approved | Average loan | Per 100k/yr |
|---|---|---|---|---|
| California | 30,006 | $19,191M | $639,567 | 15.2 |
| Texas | 20,161 | $14,798M | $733,981 | 12.9 |
| Florida | 19,816 | $11,160M | $563,166 | 17.0 |
| New York | 16,567 | $5,996M | $361,900 | 16.7 |
| Ohio | 15,819 | $5,002M | $316,211 | 26.6 |
| Michigan | 10,661 | $4,096M | $384,245 | 21.0 |
| Illinois | 9,271 | $4,882M | $526,575 | 14.6 |
| Pennsylvania | 9,220 | $4,175M | $452,842 | 14.1 |
| New Jersey | 8,995 | $4,245M | $471,894 | 18.9 |
| Georgia | 7,869 | $6,041M | $767,701 | 14.1 |
| Minnesota | 7,429 | $3,283M | $441,921 | 25.6 |
| Washington | 7,207 | $4,297M | $596,239 | 18.1 |
| Colorado | 7,091 | $4,460M | $628,911 | 23.8 |
| Massachusetts | 6,657 | $2,051M | $308,088 | 18.7 |
| North Carolina | 6,016 | $4,323M | $718,571 | 10.9 |
| Indiana | 5,377 | $2,478M | $460,916 | 15.5 |
| Arizona | 5,244 | $3,323M | $633,738 | 13.8 |
| Wisconsin | 4,917 | $2,619M | $532,556 | 16.5 |
| Missouri | 4,570 | $2,458M | $537,882 | 14.6 |
| Utah | 4,507 | $2,372M | $526,300 | 25.7 |
| Virginia | 4,454 | $2,475M | $555,630 | 10.1 |
| Maryland | 4,344 | $1,788M | $411,656 | 13.9 |
| Oregon | 3,991 | $1,969M | $493,266 | 18.7 |
| Connecticut | 3,337 | $1,312M | $393,113 | 18.2 |
| Tennessee | 3,145 | $1,997M | $634,959 | 8.7 |
| South Carolina | 3,073 | $2,000M | $650,767 | 11.2 |
| Nevada | 2,670 | $1,459M | $546,589 | 16.3 |
| Idaho | 2,520 | $1,086M | $431,120 | 25.2 |
| Oklahoma | 2,302 | $1,349M | $585,944 | 11.2 |
| New Hampshire | 2,128 | $621M | $292,030 | 30.2 |
| Kentucky | 2,124 | $1,006M | $473,660 | 9.3 |
| Kansas | 1,996 | $1,022M | $511,991 | 13.4 |
| Louisiana | 1,991 | $1,299M | $652,384 | 8.7 |
| Alabama | 1,844 | $1,209M | $655,685 | 7.2 |
| Iowa | 1,716 | $684M | $398,597 | 10.6 |
| Mississippi | 1,505 | $854M | $567,308 | 10.2 |
| Nebraska | 1,492 | $679M | $455,376 | 14.9 |
| Maine | 1,458 | $396M | $271,447 | 20.8 |
| Arkansas | 1,372 | $854M | $622,292 | 8.9 |
| New Mexico | 1,123 | $696M | $619,971 | 10.5 |
| Rhode Island | 978 | $360M | $367,719 | 17.6 |
| Montana | 947 | $478M | $505,132 | 16.7 |
| Delaware | 864 | $322M | $372,102 | 16.4 |
| West Virginia | 827 | $329M | $397,502 | 9.3 |
| Hawaii | 730 | $178M | $243,450 | 10.1 |
| Vermont | 725 | $196M | $270,342 | 22.4 |
| South Dakota | 651 | $282M | $433,137 | 14.1 |
| North Dakota | 577 | $270M | $467,591 | 14.5 |
| District of Columbia | 549 | $253M | $461,602 | 15.6 |
| Alaska | 458 | $335M | $730,665 | 12.4 |
| Wyoming | 444 | $249M | $560,136 | 15.1 |
SBA Loan Charge-Off Rates by Cohort
“What share of SBA loans fail?” is best answered by cohort: take every loan approved in a fiscal year and count how many the SBA has since charged off (its final loss action). Older cohorts have had time to mature; FY2016–2019 rates will still drift up as remaining terms run out.
| Approval cohort | Loans | Gross approved | Charged off (count) | Charged off (dollars) |
|---|---|---|---|---|
| FY2010 | 39,913 | $10.2 billion | 9.2% | 4.7% |
| FY2011 | 45,628 | $16.2 billion | 6.9% | 3.3% |
| FY2012 | 38,889 | $13.3 billion | 6.3% | 3.0% |
| FY2013 | 40,416 | $15.5 billion | 6.0% | 2.7% |
| FY2014 | 45,962 | $16.9 billion | 6.4% | 2.8% |
| FY2015 | 55,421 | $20.4 billion | 6.9% | 3.0% |
| FY2016 | 56,789 | $21.6 billion | 7.2% | 2.8% |
| FY2017 | 56,080 | $23.0 billion | 7.7% | 2.9% |
| FY2018 | 54,223 | $22.8 billion | 7.9% | 2.7% |
| FY2019 | 45,686 | $20.6 billion | 6.7% | 2.2% |
Across the matured FY2010–2015 cohorts, 6.9% of loans (18,417 of 266,229) have been charged off to date, representing 3.2% of approved dollars — dollar losses run lower than loan-count losses because smaller loans fail more often than larger ones.
SBA Lending in Service Industries
FY2021–2025 7(a) approvals in the industries we cover state by state:
| Industry | Loans | Gross approved | Average loan |
|---|---|---|---|
| Salons, barbers & nail salons | 5,489 | $1,119M | $203,890 |
| HVAC (plumbing/HVAC contractors) | 4,607 | $2,081M | $451,619 |
| Landscaping | 4,521 | $1,384M | $306,021 |
| Daycare / child care | 3,748 | $3,055M | $815,179 |
| Cleaning (janitorial) | 2,243 | $592M | $263,813 |
| Food trucks (mobile food services) | 1,050 | $99M | $94,632 |
The spread is the story: an SBA-financed daycare is typically a center build-out (average $815,179), while a food truck is the cheapest business the SBA finances in this group (average $94,632). For industry market sizes and state rankings, see our business formation statistics and the Best States to Start a Business index.
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Frequently Asked Questions
What is the average SBA loan amount?
The average SBA 7(a) loan was $500,280 in fiscal year 2025 (64,096 loans, $32.07 billion approved). The average 504 loan — the program used for real estate and heavy equipment — was $1,157,339. Averages differ widely by industry: daycare borrowers averaged $815,179 while food-truck borrowers averaged $94,632 (FY2021–2025).
What is the SBA loan default rate?
Of the 266,229 SBA 7(a) loans approved in fiscal years 2010–2015 — cohorts old enough for most terms to have run their course — 6.9% have been charged off to date, representing 3.2% of approved dollars. Charge-off is the SBA’s final loss action, so this understates total delinquency but is the honest measure of loans that failed outright.
Which state gets the most SBA loans?
California received 30,006 7(a) loans in FY2021–2025, the most of any state, followed by Texas (20,161) and Florida (19,816). Per capita, New Hampshire leads with 30.2 loans per 100,000 residents per year.
How many SBA loans are approved each year?
In fiscal year 2025 the SBA approved 64,096 loans under the 7(a) program ($32.07 billion) and 6,530 under the 504 program ($7.56 billion). Counts exclude cancelled approvals.
Sources & Citation
| Data | Source | Vintage |
|---|---|---|
| Loan-level 7(a) and 504 approvals, statuses, and charge-offs | U.S. Small Business Administration, 7(a) & 504 FOIA dataset | as of June 30, 2026 |
| State population (per-capita rates) | U.S. Census Bureau, Population Estimates | 2024 |
All statistics on this page are computed from the raw loan-level files. You are welcome to cite them with attribution and a link to this page.