SBA Loan Statistics 2026: 7(a) and 504 Volume, Average Loan Size and Top Lenders

Dollars sat in a narrow band through FY2020, jumped in FY2021 on pandemic support, then fell back to $25.69B in FY2022. The climb since then came without pandemic-era guaranties, which is why the FY2025 record stands out.

Loan counts bottomed at 42,298 in FY2020, dipped again to 47,678 in FY2022, and have risen every year since, reaching 78,078 in FY2025. More loans means more small borrowers getting through, not just a few big deals pushing the dollar total up.

The average 7(a) loan spiked to $704,581 in FY2021 and has settled since. At $477,571 in FY2025, it's close to the FY2023 level of $479,685.

Unlike 7(a), the average 504 loan has grown steadily, from $798,262 in FY2016 to $1,154,122 in FY2025.

Live Oak Banking Company led by dollars with $2,852.7M. Many of the top names lend nationally, so your local bank isn't your only option.

504 loans run through Certified Development Companies. Mortgage Capital Development Corporation led with $836.4M, well ahead of the next CDC at $440.9M.

SBA 7(a) and 504 approvals by fiscal year (averages = approved dollars ÷ approved loans)

Source: U.S. Small Business Administration, 7(a) & 504 Monthly & Yearly Activity Report, 1991 to present (FY2025 year-end, data as of 9/30/2025); American Banker, SBA starts new fiscal year with even tighter credit box. Download as image

Top 10 SBA 7(a) lenders by number of loans approved, FY2025

Source: U.S. Small Business Administration, 7(a) Lender Activity Report, FY2025. Download as image

SBA loan size limits after the July 4, 2026 change

Source: U.S. Small Business Administration, Small Businesses Now Eligible for $10 Million in SBA Financing (News release 26-69). Download as image

How much did the SBA lend in 2025?

In fiscal year 2025, which ended on September 30, 2025, the SBA approved $37.29 billion in 7(a) loans and $7.80 billion in 504 loans. On the last day of the year, the agency announced $44.8 billion across 84,400 loans combined. The year-end data file came in a little higher once every approval was counted, which is normal.

The 7(a) total is the highest in SBA's series going back to FY1991. The prior peak, $36.54B in FY2021, leaned on pandemic-era enhanced guaranties. FY2025 got there without that help.

The loan count tells the same story. The SBA approved 78,078 7(a) loans in FY2025, up from 70,242 in FY2024 and 57,362 in FY2023. So it isn't only that loans got bigger. More businesses got one.

For you, a record year doesn't guarantee a yes. It means lenders were active and the program had room. Your approval still turns on cash flow, credit, collateral and how clearly you explain what the money is for.

What is the average SBA loan size?

The average 7(a) loan in FY2025 was $477,571. The average 504 loan was $1,154,122. These are approved dollars divided by approved loans, so a handful of very large deals pull the average up. The typical borrower you know, a contractor buying a second truck or a cafe owner refinancing expensive debt, may well be borrowing far less.

The two averages have moved in different directions. The 7(a) average jumped to $704,581 in FY2021, then slid to $443,097 by FY2024 even as the number of loans kept rising. The 504 average has climbed every year in this series. If you're pricing a building or a big machine, expect your deal to look more like the 504 numbers.

Use the averages as a sense check, not a target. If you're asking for a modest working capital loan, you're inside the range lenders see every day. If you're asking for a seven-figure building loan, you're in 504 territory, and you should expect a longer process with an appraisal, environmental review and a CDC in the mix.

Which banks make the most SBA loans?

By dollars, Live Oak Banking Company was the largest 7(a) lender in FY2025 at $2.85 billion. By loan count, the leader was Northeast Bank with 7,800 loans. Those two facts point to different business models. Some lenders focus on fewer, larger loans in specific industries. Others run high volumes of smaller loans.

That matters when you shop. A lender that closes thousands of small loans a year usually has a fast, standardized process. A lender with a big average deal may know your industry well but care less about a small request. Ask each lender how many SBA loans like yours it closed last year. A confident answer is a good sign.

Don't skip the 504 side either. Certified Development Companies are often regional, and the 504 chart shows the leader approving almost twice the dollars of the next CDC. If you're buying property, ask your bank which CDC it usually works with, then call that CDC directly. You'll learn its timeline and fees before you're locked in.

What changed for SBA borrowers in 2026?

On July 4, 2026, the combined cap on 7(a) and 504 financing rose to $10 million, up from $5 million. Each program still tops out at $5 million on its own, but a business can now stack both. That helps a growing company that needs a building through 504 and working capital through 7(a) at the same time.

Volume cooled from the record. American Banker reported $32.4 billion in 7(a) approvals across 56,130 loans for FY2026, citing SBA figures, along with $7.1 billion in 504 lending. SBA's own year-end FY2026 files weren't posted yet when this page was checked, so treat those as early numbers. The same report described a tighter credit box, which in plain terms means lenders are asking for stronger files.

7(a) or 504: which SBA loan fits your business?

Think of 7(a) as the general-purpose loan. You can use it for working capital, inventory, equipment, buying an existing business, refinancing costly debt, or a mix of those. It's the program behind most SBA approvals, and it's the program the top lenders chart ranks.

The 504 loan is narrower. It pays for owner-occupied real estate or major long-life equipment, and it splits the deal between a bank and a Certified Development Company. The paperwork is heavier, and you'll deal with two lenders instead of one. In return, you get long fixed terms on the CDC portion, which helps when you're locking in a building you plan to stay in for years.

Here's a simple example. A dental practice buying the office it rents would look at 504. The same practice buying a second practice across town, with patient lists, goodwill and some equipment, would look at 7(a). Since the 2026 limit change, a larger practice could use both at once.

How to use these numbers before you apply

• Pick the right program first. Real estate and major equipment usually fit 504. Working capital, buying a business, inventory and mixed needs usually fit 7(a).
• Talk to at least three lenders, including one high-volume national lender from the top lenders chart and one local bank that knows you.
• Ask for the rate as an index plus a spread in writing, along with every fee, before you sign a commitment letter.
• Expect a personal guarantee. Owners with a large stake are usually required to sign one, so read exactly what it covers.
• Get your file ready: tax returns, a current balance sheet, a debt schedule, and a short plain-language reason for the loan. A tighter credit box rewards borrowers who show up organized.
• Read the loan agreement and the guarantee as two separate documents. The guarantee is often the one that reaches your house.

Sources and method

Every number on this page comes from the sources below, each opened and read on or before October 18, 2026. A second, independent review checked every figure against its source and corrected anything that did not match. Figures that could not be confirmed were left out.

1. U.S. Small Business Administration, 7(a) & 504 Monthly & Yearly Activity Report, 1991 to present (FY2025 year-end, data as of 9/30/2025) (FY2025 year-end edition, data as of 9/30/2025)
2. U.S. Small Business Administration, 7(a) Lender Activity Report, FY2025 (FY2025 year-end edition, data as of 9/30/2025)
3. U.S. Small Business Administration, 504 CDC Activity Report, FY2025 (FY2025 year-end edition, data as of 9/30/2025)
4. U.S. Small Business Administration, Trump SBA Delivers Record Capital to Small Businesses in FY25 (News release 25-83) (September 30, 2025)
5. U.S. Small Business Administration, Small Businesses Now Eligible for $10 Million in SBA Financing (News release 26-69) (July 7, 2026)
6. American Banker, SBA starts new fiscal year with even tighter credit box (October 9, 2026 (updated October 13, 2026))