Who lends, and where
SBA loans by state: 2026 approvals in the 50 states and DC
Pick a state to set your rate against the loans approved there, or open its page for the lenders, trades and 504 activity behind the numbers.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
Your loan against approvals in your state
Example, not your result yet· change a figure to see yours
Alabama: 7(a) loans approved last year
395
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Alabama: median rate at approval, $50,001 to $250,000 | 9.75% |
| Alabama: median 7(a) loan last year | $300,000 |
| Payment over 10 years, SBA fee added to the loan | $3,378/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.
SBA approved 56,130 7(a) loans in FY 2026, but not evenly. California had the most, 6,890, ahead of Texas (4,698) and Florida (4,559); North Dakota had the fewest, 89. The median loan ranged from $349,900 in Mississippi to $60,000 in Vermont, which matters for price because SBA’s rate cap and fee both change with the amount. Who lends differs just as much: in some states most loans come from a bank based in the state, in others nearly all come from SBA specialists elsewhere. The table counts every approval by the state of the project, from SBA’s loan-level file as of September 30, 2026, and the rates are those set at approval, when prime was 6.75% to 7.00%; it is 7.00% now.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| State | FY 2026 7(a) loans | Median loan | Median variable rate | Variable at the cap | Local lenders | Busiest lender |
|---|---|---|---|---|---|---|
| Alabama | 395 | $300,000 | 9.50% | 12.0% | 13.0% | Newtek Bank |
| Alaska | 89 | $325,000 | 9.75% | 20.0% | 20.0% | KeyBank |
| Arizona | 1,223 | $300,000 | 9.50% | 10.0% | 8.0% | Newtek Bank |
| Arkansas | 327 | $267,600 | 9.00% | 7.0% | 41.0% | Southern Bancorp Bank |
| California | 6,890 | $250,000 | 9.75% | 13.0% | 27.0% | U.S. Bank |
| Colorado | 1,474 | $263,250 | 9.50% | 7.0% | 8.0% | U.S. Bank |
| Connecticut | 850 | $100,000 | 9.75% | 18.0% | 13.0% | M&T Bank |
| Delaware | 220 | $115,500 | 9.75% | 16.0% | 15.0% | M&T Bank |
| District of Columbia | 161 | $200,000 | 9.75% | 12.0% | 1.0% | M&T Bank |
| Florida | 4,559 | $250,000 | 9.75% | 14.0% | 24.0% | Newtek Bank |
| Georgia | 1,599 | $340,000 | 9.50% | 12.0% | 14.0% | Newtek Bank |
| Hawaii | 103 | $107,400 | 9.75% | 13.0% | 35.0% | Central Pacific Bank |
| Idaho | 648 | $150,000 | 9.50% | 4.0% | 17.0% | Zions Bancorporation |
| Illinois | 1,746 | $249,150 | 9.50% | 10.0% | 26.0% | Huntington National Bank |
| Indiana | 935 | $200,000 | 9.25% | 7.0% | 39.0% | Huntington National Bank |
| Iowa | 308 | $201,000 | 9.50% | 9.0% | 30.0% | U.S. Bank |
| Kansas | 383 | $250,000 | 8.75% | 8.0% | 37.0% | Emprise Bank |
| Kentucky | 483 | $186,900 | 9.50% | 15.0% | 30.0% | U.S. Bank |
| Louisiana | 439 | $272,000 | 9.50% | 14.0% | 26.0% | Newtek Bank |
| Maine | 253 | $104,000 | 9.15% | 5.0% | 46.0% | TD Bank |
| Maryland | 1,236 | $128,250 | 9.75% | 20.0% | 3.0% | M&T Bank |
| Massachusetts | 1,485 | $117,400 | 9.25% | 9.0% | 44.0% | Eastern Bank |
| Michigan | 1,486 | $240,500 | 9.35% | 6.0% | 22.0% | Huntington National Bank |
| Minnesota | 1,062 | $249,350 | 9.00% | 3.0% | 41.0% | U.S. Bank |
| Mississippi | 297 | $349,900 | 9.25% | 8.0% | 48.0% | Citizens National Bank of Meridian |
| Missouri | 821 | $250,000 | 9.50% | 9.0% | 38.0% | U.S. Bank |
| Montana | 166 | $271,850 | 9.25% | 7.0% | 34.0% | Glacier Bank |
| Nebraska | 281 | $200,000 | 8.75% | 6.0% | 39.0% | Union Bank and Trust |
| Nevada | 614 | $202,500 | 9.50% | 10.0% | 1.0% | Zions Bancorporation |
| New Hampshire | 493 | $97,000 | 9.25% | 10.0% | 20.0% | TD Bank |
| New Jersey | 2,021 | $200,000 | 9.75% | 12.0% | 10.0% | TD Bank |
| New Mexico | 222 | $150,000 | 9.75% | 13.0% | 19.0% | U.S. Bank |
| New York | 3,613 | $150,000 | 9.75% | 17.0% | 34.0% | M&T Bank |
| North Carolina | 1,444 | $325,000 | 9.50% | 10.0% | 24.0% | Newtek Bank |
| North Dakota | 89 | $180,000 | 8.75% | 5.0% | 46.0% | U.S. Bank |
| Ohio | 1,983 | $175,500 | 9.50% | 7.0% | 67.0% | Huntington National Bank |
| Oklahoma | 461 | $300,000 | 8.75% | 6.0% | 49.0% | BancFirst |
| Oregon | 995 | $120,000 | 9.75% | 6.0% | 22.0% | Columbia Bank |
| Pennsylvania | 1,873 | $200,000 | 9.50% | 12.0% | 19.0% | M&T Bank |
| Rhode Island | 175 | $100,000 | 9.50% | 5.0% | 42.0% | BankNewport |
| South Carolina | 678 | $295,500 | 9.50% | 12.0% | 8.0% | TD Bank |
| South Dakota | 115 | $264,000 | 9.50% | 3.0% | 57.0% | First Bank & Trust |
| Tennessee | 842 | $300,000 | 9.50% | 12.0% | 10.0% | Newtek Bank |
| Texas | 4,698 | $335,000 | 9.50% | 10.0% | 15.0% | Newtek Bank |
| Utah | 1,052 | $210,000 | 9.25% | 7.0% | 60.0% | Zions Bancorporation |
| Vermont | 151 | $60,000 | 9.75% | 16.0% | 27.0% | M&T Bank |
| Virginia | 1,122 | $245,000 | 9.50% | 13.0% | 11.0% | M&T Bank |
| Washington | 1,846 | $200,000 | 9.50% | 5.0% | 27.0% | Columbia Bank |
| West Virginia | 146 | $150,000 | 9.50% | 11.0% | 17.0% | Huntington National Bank |
| Wisconsin | 861 | $221,500 | 9.25% | 7.0% | 44.0% | U.S. Bank |
| Wyoming | 102 | $203,100 | 9.75% | 17.0% | 11.0% | Northeast Bank |
Three patterns in the table
Local banks against national lenders. Ohio (67.0%), Utah (60.0%), South Dakota (57.0%) keep the most SBA lending with banks based in the state. At the other end, District of Columbia (1.0%), Nevada (1.0%), Maryland (3.0%) rely almost entirely on lenders from elsewhere, which usually work by phone and online.
Loans at the ceiling. The share of variable loans priced at the SBA maximum was highest in Alaska (20.0%), Maryland (20.0%), Connecticut (18.0%), against 11.0% nationwide. Their median loans were $325,000, $128,250, $100,000, and their busiest lenders KeyBank, M&T Bank, M&T Bank: the cap is reached mostly on small loans, and by some lenders far more than others.
Size. A state’s median loan sets which rate cap and fee step most of its borrowers face. Under $150,000, SBA guarantees 85% and the fee is 2% of that; above, the guaranty drops to 75% and the fee rises. The calculator above shows where your own amount falls in your state.
How to read a state page
Each state page is written from the same file but picks its own subjects: the measures on which the state sits furthest from the other fifty come first, whether that is who lends, how large the loans are, how many start-ups or business purchases were financed, how often SBA Express was used or how much 504 lending took place. Two neighboring states can therefore read quite differently. Every page also lists the five busiest lenders with their median loan and rate, and the median rate by size band next to today’s cap, so a quote can be checked against both the local market and the legal limit. Counts are by approval date between October 1, 2025 and September 30, 2026; rates are those set at approval.
The territories are counted in the national totals but have no page here: Puerto Rico, the U.S. Virgin Islands and Guam together had 615 approvals.