FY 2024 SBA Lending Statistics
FY 2024 SBA Lending Statistics
5,655 banks all-time funded an SBA 7(a) loan, 2,896 over the last decade, and 1,277 banks funded an SBA loan over the last 12 months.
FY2024 (FY is SBA’s fiscal year ending 9/30/24)
1,277 banks funded 47,338 SBA 7(a) loans for businesses in 837 different industries. Of these 457 banks funded 3,680 franchise loans for 1,115 different brands in 222 industries.
SBA loans were funded in all 50 states with borrowers from 6,448 cities. All 50 states also had funded franchise SBA loans for borrowers from 1,633 different cities.
36% funded a franchise loan of which 59% of banks funding a franchise loan only funded one or two. The top 20 banks funding a franchise loan fund 52% of the franchise dollars. 437 banks funded 48% of franchise dollars.
72% of all non-franchise loans were funded by out of state lenders and 81% of franchisee loans.
28% of all banks funded a franchise loan under $500K loan amount.
21% of all banks funded a franchise loan over $500K loan amount.
14% of all banks funded a franchise loan over $1 million.
5,088 loans funded over $1 million with including 611 franchisee loans.
The average loan amount in FY2024 was $442K with the average franchise funded loan at $723K.
4% of all banks funded a restaurant franchise loan over $1 million. It’s located in Florida? Then 8 banks (less than 1%). Oh it’s also a startup? Make that 4 banks. Three of which are out of state banks.
Borrower’s business age for all funded dollars
17% Startups
23% Change of Ownership
45% Existing Business > 2 Years
15% Existing business < 2 Years
Borrower’s business age for franchise funded dollars
39% Startups
30% Change of Ownership
16% Existing Business > 2 Years
15% Existing business < 2 Years
Funded loan amount tiers
54% loan amounts < $150,000
17% loan amounts $150,000-$350,000
19% loan amounts $350,000-$1 million
10% loan amounts > $1 million
Franchise funded loan amount tiers
26% loan amounts < $150,000
22% loan amounts $150,000-$350,000
35% loan amounts $350,000-$1 million
17% loan amounts > $1 million
Out of state SBA 7(a) lender dominance
94% of banks funded an in-state SBA loan and 41% of banks funded an out of state SBA loan. However:
72% of funded dollars by out of state lenders.
81% of franchise loan dollars funded by out of state lenders.
74% of funded dollars for loans over $1 million amount funded by out of state lenders
81% of franchise funded dollars for loans over $1 million amount funded by out of state lenders
73% of funded dollars for loans up to $150,000 funded by out of state lenders
87% of funded franchise dollars for loans up to $150,000 funded by out of state lenders
Most banks fund a handful or less SBA loans.
24% of banks funded only one SBA loan
37% of banks funded only one or two SBA loans
45% of banks funded three or less SBA loans
56% of banks funded five or less SBA loans
68% of banks funded less than 10 SBA loans
Decreasing number of lenders funding SBA 7(a) loans.
Number of banks funding a non-franchise SBA loan:
FY2021: 1,463
FY2022: 1,394
FY2023: 1,349
FY2024: 1,242
Number of banks funding an SBA loan:
FY2021: 1,520
FY2022: 1,456
FY2023: 1,405
FY2024: 1,277
Number of banks funding a franchise SBA loan:
FY2021: 714
FY2022: 663
FY2023: 630
FY2024: 457
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Source: All SBA 7(a) data shared is based on all SBA lending from all sources and not from SBA lending through LoanBox. SBA data and reports are not from the SBA but from SBA data from the lending analytics platform developed and maintained by SBADNA Analytics. SBADNA and LoanBox are both owned by the same parent company FuseSync LLC. LoanBox and SBADNA does not validate or verify the data released by the SBA and provides no warranty of data accuracy or completeness.