SBA loans by state
SBA loans in North Carolina: 1,444 approvals in FY 2026, median $325,000
No lender dominated: the busiest made 10% of loans. The median loan, $325,000, was the 5th largest of the 50 states and DC.
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North Carolina: 7(a) loans approved last year
1,444
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| North Carolina: median rate at approval, $250,001 to $350,000 | 9.75% |
| North Carolina: median 7(a) loan last year | $325,000 |
| Payment over 10 years, SBA fee added to the loan | $4,346/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.
North Carolina, FY 2026: 1,444 SBA 7(a) approvals for $1.1 billion (14th of the 50 states and DC, SBA file of September 30, 2026). No lender dominated: the busiest made 10% of loans. The median loan, $325,000, was the 5th largest of the 50 states and DC. The state stood out for loans to private mail centers. Express was used for only 21% of loans. Franchises took 22% of loans. 504 lending was light, 71 approvals. 30% of loans had their guaranteed part sold to investors. 22% of loans went to businesses not yet open. Credit lines were only 16% of approvals. Borrowers reported 12.1 jobs per loan. 16% of loans financed the purchase of a business. Today’s cap on a $325,000 variable loan: 11.50%.
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 |
|---|---|---|---|---|
| Newtek Bank | 142 | $150,000 | 9.75% | Florida |
| Live Oak Banking | 132 | $350,000 | 9.20% | North Carolina (in-state) |
| Northeast Bank | 106 | $122,300 | 9.75% | Maine |
| Huntington National Bank | 98 | $205,500 | 9.25% | Ohio |
| Readycap Lending | 57 | $50,000 | 13.25% | New Jersey |
No single lender dominates
The busiest lender in North Carolina, Newtek Bank, made only 10% of loans, a top-lender share 3rd lowest among the 50 states and DC, and the five busiest together 37%. 128 lenders took part.
Among the largest SBA loans in the country
North Carolina’s median loan of $325,000 is 4th highest among the 50 states and DC. 42% of its loans were above $350,000, where the variable cap falls to prime plus 3 points and the guaranty fee climbs to 3.5% of the guaranteed part once the loan passes $700,000.
More common here than nationally: private mail centers
18 North Carolina loans went to private mail centers, 3.7 times the national share for that trade. The most frequent trades overall were full-service restaurants, fitness and recreational sports centers and limited-service restaurants. Shops and service outlets are often bought as going concerns or franchise units, with loans small enough that the variable cap may reach prime plus 6 points.
Express is rarely used
SBA Express made up only 21% of North Carolina’s approvals, 7th lowest among the 50 states and DC. Preferred Lenders took 76% and loans processed by SBA itself 2%, so most borrowers here get the full 85% or 75% guaranty.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 204 | 11.40% | 13.50% |
| $50,001 to $250,000 | 434 | 9.75% | 13.00% |
| $250,001 to $350,000 | 205 | 9.75% | 11.50% |
| over $350,000 | 601 | 9.00% | 10.00% |
Franchise lending stands out
22% of North Carolina’s loans went to franchise units, the highest among the 50 states and DC. The UPS Store, Days Inn / Days Inn by Wyndham and Hummus Republic appeared most often.
504 lending is light
North Carolina had 71 504 approvals ($100.1 million), 4.9 for every 100 7(a) loans against 10.8 nationally. The busiest certified development companies were Business Expansion Funding Corporation (44), Carolina Business Capital, Inc. (12) and 504 Capital Corporation (7).
Many guaranteed parts resold
The guaranteed part of 30% of North Carolina’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.
Start-ups borrow a large share
22% of North Carolina’s loans funded a business that was not yet open (16% nationwide). SBA’s lending rules ask a start-up to put in cash of its own (an equity injection) of at least 10% of the total project cost, $36,111 on a project financed by a median-size loan.
Counties with the most approvals: Mecklenburg (260), Wake (242) and Guilford (65). Trades: full-service restaurants (63), fitness and recreational sports centers (55), limited-service restaurants (48), hotels and motels (42) and residential remodelers (40).
All states compared.