SBA loans by state
SBA loans in Alaska: 89 approvals in FY 2026, median $325,000
20% of variable loans were priced at the SBA maximum. The state used 504 loans heavily: 23 approvals for $18.3 million.
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Alaska: 7(a) loans approved last year
89
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Alaska: median rate at approval, $250,001 to $350,000 | 9.75% |
| Alaska: median 7(a) loan last year | $325,000 |
| Payment over 10 years, SBA fee added to the loan | $4,346/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Alaska, FY 2026: 89 SBA 7(a) approvals for $70.5 million (50th of the 50 states and DC, SBA file of September 30, 2026). 20% of variable loans were priced at the SBA maximum. The state used 504 loans heavily: 23 approvals for $18.3 million. The median loan, $325,000, was the 4th largest of the 50 states and DC. Franchises took only 4% of loans. Variable rates dominated: only 6% of loans were fixed. 19% of loans ran 15 years or longer. KeyBank alone made 22% of the loans. Start-ups took only 13% of approvals. Anchorage County had 44% of the state’s loans. Business purchases were rare, 11% of loans. 16% of approvals were later cancelled. 19 lenders were active, a wide field for the volume. Today’s cap on a $325,000 variable loan: 11.50%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| KeyBank | 20 | $200,000 | 8.88% | Ohio |
| Newtek Bank | 13 | $100,000 | 10.00% | Florida |
| Alaska Growth Capital BIDCO | 11 | $1,200,000 | 9.75% | Alaska (in-state) |
| Live Oak Banking | 7 | $500,000 | n/a | North Carolina |
| First National Bank Alaska | 6 | $1,388,000 | n/a | Alaska (in-state) |
Among the most loans at the legal maximum
20% of Alaska’s variable loans sat exactly at SBA’s cap, the highest among the 50 states and DC. Of the five busiest lenders, Alaska Growth Capital BIDCO priced 55% of its Alaska variable loans at the cap. Ask any lender quoting the cap what a lower margin would require.
A leading 504 state
Relative to its 7(a) volume, Alaska uses 504 debentures more than almost anywhere: 23 of them for $18.3 million, a ratio to 7(a) loans 3rd highest among the 50 states and DC. Evergreen Business Capital arranged 23 on its own. Building owners here can count on a CDC that knows the local market.
Among the largest SBA loans in the country
Alaska’s median loan of $325,000 is 4th highest among the 50 states and DC. 42% of its loans were above $350,000, where the variable cap falls to prime plus 3 points and the guaranty fee climbs to 3.5% of the guaranteed part once the loan passes $700,000.
Few franchise loans
Franchise units took 4% of Alaska’s approvals, below the 14% national share; independent businesses took nearly all the rest.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 11 | 13.25% | 13.50% |
| $50,001 to $250,000 | 31 | 9.75% | 13.00% |
| $250,001 to $350,000 | 10 | 9.75% | 11.50% |
| over $350,000 | 37 | 9.00% | 10.00% |
Fixed rates almost absent
Only 6% of Alaska’s loans were fixed-rate, 4th lowest among the 50 states and DC. Almost every borrower here carries a prime-based rate whose payment moves when prime does.
Real estate loans weigh heavily
19% of Alaska’s loans ran 15 years or more, 5th highest among the 50 states and DC. Those long loans are the only ones exposed to SBA’s 5-3-1 prepayment fee.
One lender stands out: KeyBank
KeyBank made 22% of Alaska’s approvals by itself, 20 loans with a median of $200,000 and a median variable rate of 8.88%. Across all its loans nationally, 0% of its variable loans were at the SBA cap.
Few start-ups
Businesses not yet open took 13% of Alaska’s approvals, against 16% nationwide; established firms over two years old took 57%. A going concern is judged on its tax returns and cash flow and skips the 10% start-up equity rule.
Counties with the most approvals: Anchorage (39), Matanuska Susitna (12) and Kenai Peninsula (10). Trades: limited-service restaurants (4), residential remodelers (3), finfish fishing (3), all other amusement and recreation industries (3) and fitness and recreational sports centers (3).
All states compared.