SBA loans by state
SBA loans in California: 6,890 approvals in FY 2026, median $250,000
The state stood out for loans to clothing and clothing accessories merchant wholesalers. Start-ups took only 9% of approvals.
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Your loan against approvals in your state
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California: 7(a) loans approved last year
6,890
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| California: median rate at approval, $50,001 to $250,000 | 9.75% |
| California: median 7(a) loan last year | $250,000 |
| 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.
California, FY 2026: 6,890 SBA 7(a) approvals for $4.2 billion (1st of the 50 states and DC, SBA file of September 30, 2026). The state stood out for loans to clothing and clothing accessories merchant wholesalers. Start-ups took only 9% of approvals. Only 185 lenders were active. The state used 504 loans heavily: 1,317 approvals for $1.8 billion. 13% of variable loans were priced at the SBA maximum. Business purchases were rare, 10% of loans. 31% of loans had their guaranteed part sold to investors. No lender dominated: the busiest made 13% of loans. Franchises took only 10% of loans. Credit lines were only 17% of approvals. The median loan, $250,000, was the 16th largest of the 50 states and DC. Today’s cap on a $250,000 variable loan: 13.00%.
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 |
|---|---|---|---|---|
| U.S. Bank | 923 | $50,000 | 10.24% | Ohio |
| Newtek Bank | 752 | $150,000 | 9.75% | Florida |
| Northeast Bank | 591 | $183,300 | 9.75% | Maine |
| Live Oak Banking | 308 | $350,000 | 9.24% | North Carolina |
| Lendistry SBLC | 257 | $160,000 | 11.25% | California (in-state) |
More common here than nationally: clothing and clothing accessories merchant wholesalers
45 California loans went to clothing and clothing accessories merchant wholesalers, 3.8 times the national share for that trade. The most frequent trades overall were full-service restaurants, limited-service restaurants and fitness and recreational sports centers.
Lending to going concerns
California ranks 4th lowest among the 50 states and DC for start-up lending, with 9% of loans to businesses not yet open; 67% went to firms more than two years old.
Fewer lenders per loan than most states
185 lenders made all 6,890 of California’s loans. For that many loans, its number of lenders is the lowest among the 50 states and DC. The national SBA lenders that work by phone widen the choice.
504 loans are well used
1,317 504 loans for $1.8 billion were approved for California projects, 19.1 for every 100 7(a) loans against 10.8 nationally, with a median debenture of $911,000. The busiest certified development companies were Business Finance Capital (334), The Mortgage Capital Development Corporation (301) and California Statewide Certified Development Corporation (219).
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 1,474 | 11.75% | 13.50% |
| $50,001 to $250,000 | 2,104 | 9.75% | 13.00% |
| $250,001 to $350,000 | 973 | 9.75% | 11.50% |
| over $350,000 | 2,339 | 8.75% | 10.00% |
Many loans priced at the ceiling
13% of California’s variable loans were at the maximum SBA allows for their size, against 11% nationally. Almost all of those are loans of $50,000 or less, where the cap is prime plus 6.5 points; in that band 38% of California’s loans were at the cap.
Few business purchases
Only 10% of California’s approvals financed a change of ownership (13% nationally). Most of the money went to owners expanding, equipping or adding working capital to a business they already run.
Many guaranteed parts resold
The guaranteed part of 31% of California’s loans had been sold on the secondary market by the date of the file (23% nationally). The borrower keeps the same lender and terms; the sale lets the lender fund new loans.
No dominant lender
The busiest lender, U.S. Bank, made only 13% of California’s approvals; 185 lenders shared the rest. With that many lenders active, a second and third quote are easy to get.
Counties with the most approvals: Los Angeles (2,001), Orange (766) and San Diego (645). Trades: full-service restaurants (401), limited-service restaurants (228), fitness and recreational sports centers (154), beer, wine, and liquor retailers (139) and plumbing, heating, and air-conditioning contractors (139).
All states compared.