SBA loans by state
SBA loans in New Mexico: 222 approvals in FY 2026, median $150,000
Business purchases were rare, 7% of loans. The state stood out for loans to hotels and motels.
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
New Mexico: 7(a) loans approved last year
222
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| New Mexico: median rate at approval, $50,001 to $250,000 | 9.75% |
| New Mexico: median 7(a) loan last year | $150,000 |
| Payment over 10 years, SBA fee added to the loan | $2,016/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.
New Mexico, FY 2026: 222 SBA 7(a) approvals for $99.2 million (40th of the 50 states and DC, SBA file of September 30, 2026). Business purchases were rare, 7% of loans. The state stood out for loans to hotels and motels. 13% of variable loans were priced at the SBA maximum. Loans were small: the median was $150,000, against $220,000 nationally. Credit lines were only 16% of approvals. Businesses under two years old took 18% of loans. 25% of loans had their guaranteed part sold to investors. Bernalillo County had 36% of the state’s loans. A few large loans pushed the average to $446,653. 47 lenders were active, a wide field for the volume. 16% of loans ran 15 years or longer. Today’s cap on a $150,000 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 | 34 | $38,000 | 10.74% | Ohio |
| Northeast Bank | 23 | $200,000 | 9.75% | Maine |
| Newtek Bank | 21 | $150,000 | 9.75% | Florida |
| Western Commerce Bank | 19 | $217,000 | 8.00% | New Mexico (in-state) |
| Live Oak Banking | 14 | $225,000 | 8.25% | North Carolina |
Acquisitions are rare
Only 7% of New Mexico’s loans financed the purchase of a business, 2nd lowest among the 50 states and DC. Expansion and working capital for current owners made up the bulk.
More common here than nationally: hotels and motels
10 New Mexico loans went to hotels and motels, 3.1 times the national share for that trade. The most frequent trades overall were hotels and motels, general automotive repair and all other specialty trade contractors. SBA’s lending rules list these properties as special-purpose, which raises the owner’s contribution on a 504 project to 15% and allows a 7(a) purchase that is mostly real estate to run up to 25 years.
Many loans priced at the ceiling
13% of New Mexico’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 39% of New Mexico’s loans were at the cap.
Smaller loans, higher allowed margins
Half of New Mexico’s approvals were for $150,000 or less, 13th smallest of the 50 states and DC ($220,000 nationally). SBA guarantees 85% of a loan that size and the fee is $2,550, but the variable rate may go up to prime plus 6.0 points, 13.00% today.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 51 | 10.99% | 13.50% |
| $50,001 to $250,000 | 87 | 9.75% | 13.00% |
| $250,001 to $350,000 | 32 | 9.75% | 11.50% |
| over $350,000 | 52 | 8.75% | 10.00% |
Term loans, few credit lines
Only 16% of New Mexico’s approvals were revolving lines (24% nationally); the rest were term loans repaid on a fixed schedule.
Young businesses are well represented
Firms open two years or less took 18% of New Mexico’s loans, against 15% nationally. With a short record, their lenders lean on the owners’ guarantees and collateral, which SBA requires when available.
Many guaranteed parts resold
The guaranteed part of 25% of New Mexico’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.
Lending centers on Bernalillo County
Bernalillo County alone had 81 approvals, 36% of the state’s total, ahead of Santa Fe County (28) and Sandoval County (18).
Counties with the most approvals: Bernalillo (81), Santa Fe (28) and Sandoval (18). Trades: hotels and motels (10), general automotive repair (8), all other specialty trade contractors (7), full-service restaurants (7) and all other amusement and recreation industries (6).
All states compared.