Reference
SBA loan statistics
The reference numbers on SBA lending, computed from the SBA's public FOIA record of every funded 7(a) and 504 loan: 1,036,074 loans, FY2010–2026, as of 2026-03-31.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 funded-loan data, as of 2026-03-31
The dataset at a glance
1,036,074
funded SBA loans, FY2010–2026
$497.6B
funded volume across both programs
919,729
7(a) loans (88.8% of all loans)
116,345
504 loans (11.2% of all loans)
SBA lending by fiscal year
Funded 7(a) and 504 loans per federal fiscal year. FY2026 is a partial year: the record runs through 2026-03-31.
| Fiscal year | Loans | Funded volume | Avg loan | 7(a) charge-off |
|---|---|---|---|---|
| FY2010 | 54,833 | $16.8B | $307K | 6.1% |
| FY2011 | 61,693 | $24.5B | $397K | 4.8% |
| FY2012 | 53,845 | $21.9B | $406K | 4.6% |
| FY2013 | 54,103 | $23.1B | $427K | 4.5% |
| FY2014 | 57,929 | $23.4B | $404K | 5.1% |
| FY2015 | 69,248 | $27.9B | $403K | 5.6% |
| FY2016 | 70,012 | $28.9B | $412K | 6.1% |
| FY2017 | 68,648 | $30.5B | $444K | 6.7% |
| FY2018 | 66,228 | $30.1B | $455K | 6.8% |
| FY2019 | 58,006 | $28.1B | $485K | 5.5% |
| FY2020 | 49,417 | $28.4B | $574K | 3.1% |
| FY2021 | 61,532 | $44.8B | $727K | 2.1% |
| FY2022 | 56,932 | $34.9B | $613K | 3.0% |
| FY2023 | 63,286 | $33.9B | $536K | 2.4% |
| FY2024 | 76,235 | $37.8B | $496K | 0.6% |
| FY2025 | 84,840 | $45.1B | $531K | 0.0% |
| FY2026 (partial) | 29,287 | $17.6B | $600K | 0.0% |
Charge-off is reported on 7(a) loans only, and a cohort's rate keeps rising for years after origination: the median charged-off 7(a) loan fails 50 months in. Recent fiscal years therefore show low rates because their loans have not seasoned, not because they will never default. Full analysis in the charge-off study.
7(a) vs 504, by the numbers
| Metric | 7(a) | 504 |
|---|---|---|
| Funded loans, FY2010–2026 | 919,729 | 116,345 |
| Median term | 10 years | 20 years |
| Loans reported collateralized | 75.9% | 98.4% |
| Variable-rate share | 81.1% | not reported |
| SBA-guaranteed share of funded dollars | 74.8% | not reported |
Guarantee share is dollar-weighted (SBA-guaranteed dollars over gross funded dollars); collateral and rate-type shares count only loans where the field is reported. The 504 dataset does not carry rate-type or guarantee fields. How the programs differ in practice: the 504 program explained and 504 vs 7(a) in the data.
What borrowers pay
In FY2025, the last complete fiscal year, the median initial rate on a funded 7(a) loan was 10.25%, with the middle half of borrowers between 9.5% and 10.99%. 87.6% of that year's 7(a) loans were variable-rate. Rate figures cover the 919,627 7(a) loans that report an initial rate; the 504 dataset does not carry one. Current maximums and live pricing are on the SBA loan rates page; the full distribution is in what SBA borrowers actually pay.
Market structure
- 3,156 distinct lenders funded at least one 7(a) loan across FY2010–2026; 948 were active in FY2026.
- The top 10 lenders hold 27.2% of all 7(a) funded volume over the period, $400.9B in total. Year-by-year concentration is in the lender concentration study.
- The most active lender overall is Live Oak Banking Company at $22.6B funded; the full ranked table is in the SBA lender rankings.
Where the money goes
| State | Loans | Funded volume | Avg loan |
|---|---|---|---|
| California | 133,792 | $84.0B | $628K |
| Texas | 75,949 | $47.1B | $620K |
| Florida | 63,853 | $35.3B | $552K |
| New York | 62,383 | $21.8B | $349K |
| Georgia | 29,302 | $21.7B | $740K |
Top 5 states by funded volume. Every state, with per-capita context, is on the state pages and in the per-capita study.
How 7(a) loans are delivered
| Delivery method | Loans | Share of 7(a) |
|---|---|---|
| SBA Express Program | 403,992 | 43.9% |
| Preferred Lenders Program | 380,880 | 41.4% |
| 7a General | 63,229 | 6.9% |
| Small Loan Advantage Initiative | 31,522 | 3.4% |
| Community Advantage Initiative | 8,467 | 0.9% |
Mario Bailey. (2026). SBA loan statistics. SBA Loan Index. https://sbaloanindex.com/sba-loan-statistics/
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