SBA loans by state
SBA loans in Delaware: 220 approvals in FY 2026, median $115,500
504 lending was light, 4 approvals. M&T Bank alone made 45% of the loans.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
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Delaware: 7(a) loans approved last year
220
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Delaware: median rate at approval, $50,001 to $250,000 | 9.75% |
| Delaware: median 7(a) loan last year | $115,500 |
| Payment over 10 years, SBA fee added to the loan | $1,559/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.
Delaware, FY 2026: 220 SBA 7(a) approvals for $91.1 million (41st of the 50 states and DC, SBA file of September 30, 2026). 504 lending was light, 4 approvals. M&T Bank alone made 45% of the loans. 16% of variable loans were priced at the SBA maximum. 58% of loans went through SBA Express. Loans were small: the median was $115,500, against $220,000 nationally. Variable rates dominated: only 6% of loans were fixed. Few loans ran past 15 years: 5%. Businesses under two years old took 24% of loans. 38% of approvals were revolving lines of credit. A few large loans pushed the average to $414,190. New Castle County had 57% of the state’s loans. Only 15% of the loans came from lenders based in Delaware. Today’s cap on a $116,000 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 |
|---|---|---|---|---|
| M&T Bank | 98 | $50,000 | 10.50% | New York |
| TD Bank | 16 | $47,500 | 8.74% | Delaware (in-state) |
| Wilmington Savings Fund Society FSB | 15 | $400,000 | 9.00% | Delaware (in-state) |
| Newtek Bank | 13 | $200,000 | 9.75% | Florida |
| Northeast Bank | 12 | $101,700 | 9.75% | Maine |
Hardly any 504 loans
Only 4 504 debentures went to Delaware projects against 220 7(a) loans, a ratio the lowest among the 50 states and DC. The CDC most present was Delaware Community Development Corporation. For a building, the 504 route is still open and worth pricing against a 7(a) real estate loan.
M&T Bank dominates
M&T Bank alone made 45% of Delaware’s SBA loans, a share for one lender 2nd highest among the 50 states and DC, with a median loan of $50,000. The five busiest together made 70%.
Among the most loans at the legal maximum
16% of Delaware’s variable loans sat exactly at SBA’s cap, 6th highest among the 50 states and DC. Of the five busiest lenders, Newtek Bank priced 38% of its Delaware variable loans at the cap. Ask any lender quoting the cap what a lower margin would require.
Express is the main route
58% of Delaware’s loans were SBA Express, 6th highest among the 50 states and DC. Among the busiest lenders, M&T Bank and TD Bank made mostly Express loans. Most of these are small loans decided by the bank itself, on a 50% guaranty.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 76 | 10.50% | 13.50% |
| $50,001 to $250,000 | 75 | 9.75% | 13.00% |
| $250,001 to $350,000 | 19 | 9.50% | 11.50% |
| over $350,000 | 50 | 9.00% | 10.00% |
Among the smallest SBA loans in the country
A median of $115,500 makes Delaware’s loans 7th lowest among the 50 states and DC in size. 35% were for $50,000 or less, the band where SBA lets the rate reach prime plus 6.5 (13.50% today) and charges 2% on an 85% guaranty.
Fixed rates almost absent
Only 6% of Delaware’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.
Short terms dominate
Only 5% of Delaware’s loans ran 15 years or more (13% nationally); the median term was 10 years. Loans under 15 years can be repaid early with no SBA fee.
Young firms get a big share
Businesses open two years or less received 24% of Delaware’s SBA loans, 3rd highest among the 50 states and DC. With little history to show, these borrowers are judged largely on the owners’ experience, their personal credit and the projections in the business plan.
Counties with the most approvals: New Castle (126), Sussex (56) and Kent (38). Trades: limited-service restaurants (11), snack and nonalcoholic beverage bars (8), fitness and recreational sports centers (7), full-service restaurants (6) and clothing and clothing accessories retailers (6).
All states compared.