Research

SBA lending per capita by state

New Hampshire leads the country in SBA lending per capita, with 334.2 funded SBA loans per 100,000 residents, about 4.8 times West Virginia's 69.4. Adjusting for population reveals where small businesses tap SBA credit most, and where they do not.

By Mario Bailey · Source: SBA FOIA data, as of 2026-03-31 and 2020 U.S. Census

What we measured. Funded SBA 7(a) and 504 loans divided by 2020 resident population, expressed per 100,000 residents. This adjusts for state size, but not for differences in business density or industry mix, so read it as a relative lens.

Top 15 states by SBA loans per 100,000 residents

New Hampshire 334.2 per 100k · $1K/resident

Utah 316.1 per 100k · $2K/resident

Idaho 271.5 per 100k · $1K/resident

Minnesota 259.7 per 100k · $1K/resident

South Dakota 247.1 per 100k · $1K/resident

Colorado 227.4 per 100k · $1K/resident

North Dakota 220.9 per 100k · $1K/resident

Maine 216 per 100k · $762/resident

Vermont 214.9 per 100k · $706/resident

Ohio 205.3 per 100k · $741/resident

Rhode Island 201.3 per 100k · $847/resident

Massachusetts 195.5 per 100k · $798/resident

Nevada 176.6 per 100k · $1K/resident

Michigan 175 per 100k · $758/resident

Florida 174.1 per 100k · $1K/resident

Every state, ranked

#	State	Loans per 100k	SBA $ per resident
1	New Hampshire	334.2	$1K
2	Utah	316.1	$2K
3	Idaho	271.5	$1K
4	Minnesota	259.7	$1K
5	South Dakota	247.1	$1K
6	Colorado	227.4	$1K
7	North Dakota	220.9	$1K
8	Maine	216	$762
9	Vermont	214.9	$706
10	Ohio	205.3	$741
11	Rhode Island	201.3	$847
12	Massachusetts	195.5	$798
13	Nevada	176.6	$1K
14	Michigan	175	$758
15	Florida	174.1	$1K
16	Wisconsin	173.7	$1K
17	Montana	173	$981
18	Oregon	166.8	$902
19	Connecticut	166.4	$744
20	California	166.2	$1K
21	Washington	165.6	$1K
22	New Jersey	155.3	$865
23	Wyoming	150.5	$886
24	Indiana	147.5	$756
25	Illinois	146.3	$890
26	Nebraska	142.5	$762
27	Arizona	135.6	$924
28	Missouri	135	$765
29	Delaware	135	$581
30	District of Columbia	134.4	$717
31	Georgia	134.3	$1K
32	New York	134.2	$613
33	Alaska	131.7	$916
34	Puerto Rico	124.5	$280
35	Kansas	123.2	$680
36	Texas	117	$924
37	Maryland	115.3	$539
38	Iowa	113.5	$582
39	Pennsylvania	113	$576
40	New Mexico	103.6	$631
41	Hawaii	102	$397
42	Oklahoma	101.7	$615
43	Virginia	98.7	$573
44	South Carolina	97	$657
45	North Carolina	97	$707
46	Kentucky	78.8	$402
47	Alabama	77.7	$529
48	Mississippi	75.6	$452
49	Arkansas	75.5	$466
50	Tennessee	71.8	$472
51	Louisiana	69.6	$454
52	West Virginia	69.4	$269

What it means

High per-capita states are not always the biggest economies; they are where small businesses lean most on SBA-backed credit relative to their population. Low per-capita states may have more conventional financing, fewer SBA-active lenders, or a different business mix. See your state's full picture under SBA lending by state.

Method, sources, and disclaimer. Loan counts and dollars are from the public SBA FOIA 7(a) and 504 data (as of 2026-03-31); population is the 2020 U.S. Census. 7(a) covers FY2020 onward and 504 FY2010 onward, so totals reflect those windows. See our methodology. SBA Loan Index is not affiliated with the SBA and is not a lender, broker, or financial advisor.

Cite this analysis

Mario Bailey. (2026). SBA lending per capita by state. SBA Loan Index. https://sbaloanindex.com/studies/sba-lending-per-capita-by-state/

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