SBA loans by state
SBA loans in New York: 3,613 approvals in FY 2026, median $150,000
17% of variable loans were priced at the SBA maximum. The state stood out for loans to taxi and ridesharing services.
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New York: 7(a) loans approved last year
3,613
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| New York: median rate at approval, $50,001 to $250,000 | 9.75% |
| New York: 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 York, FY 2026: 3,613 SBA 7(a) approvals for $1.5 billion (4th of the 50 states and DC, SBA file of September 30, 2026). 17% of variable loans were priced at the SBA maximum. The state stood out for loans to taxi and ridesharing services. Business purchases were rare, 7% of loans. Start-ups took only 10% of approvals. 52% of loans went through SBA Express. Franchises took only 6% of loans. Only 154 lenders were active. M&T Bank alone made 23% of the loans. 38% of approvals were revolving lines of credit. Lending was spread out; Kings County led with 12%. Few loans ran past 15 years: 7%. Loans were small: the median was $150,000, against $220,000 nationally. 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 |
|---|---|---|---|---|
| M&T Bank | 836 | $50,000 | 10.50% | New York (in-state) |
| TD Bank | 410 | $50,000 | 9.75% | Delaware |
| Newtek Bank | 343 | $150,000 | 9.75% | Florida |
| Northeast Bank | 237 | $181,900 | 9.75% | Maine |
| JPMorgan Chase Bank | 138 | $152,500 | 11.55% | Ohio |
Among the most loans at the legal maximum
17% of New York’s variable loans sat exactly at SBA’s cap, 4th highest among the 50 states and DC. Of the five busiest lenders, Newtek Bank priced 44% of its New York variable loans at the cap. Ask any lender quoting the cap what a lower margin would require.
More common here than nationally: taxi and ridesharing services
10 New York loans went to taxi and ridesharing services, 6.0 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. Vehicles and equipment wear out within a few years, so these loans stay short and small, often through SBA Express.
Acquisitions are rare
Only 7% of New York’s loans financed the purchase of a business, 3rd lowest among the 50 states and DC. Expansion and working capital for current owners made up the bulk.
Lending to going concerns
New York ranks 7th lowest among the 50 states and DC for start-up lending, with 10% of loans to businesses not yet open; 67% went to firms more than two years old.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 1,080 | 10.56% | 13.50% |
| $50,001 to $250,000 | 1,353 | 9.75% | 13.00% |
| $250,001 to $350,000 | 440 | 9.75% | 11.50% |
| over $350,000 | 740 | 8.75% | 10.00% |
SBA Express carries much of the volume
52% of New York’s approvals were SBA Express loans (34% nationally). Express stops at $500,000, carries a 50% guaranty and lets the lender decide on its own forms; the fee is charged on that smaller guaranteed part.
Few franchise loans
Franchise units took 6% of New York’s approvals, below the 14% national share; independent businesses took nearly all the rest.
Fewer lenders per loan than most states
154 lenders made all 3,613 of New York’s loans. For that many loans, its number of lenders is the 2nd lowest among the 50 states and DC. The national SBA lenders that work by phone widen the choice.
One lender stands out: M&T Bank
M&T Bank made 23% of New York’s approvals by itself, 836 loans with a median of $50,000 and a median variable rate of 10.50%. Across all its loans nationally, 29% of its variable loans were at the SBA cap.
Counties with the most approvals: Kings (425), Suffolk (417) and New York (373). Trades: full-service restaurants (215), limited-service restaurants (113), fitness and recreational sports centers (84), residential remodelers (83) and plumbing, heating, and air-conditioning contractors (70).
All states compared.