# SBA loans for thrift and resale shops under the 2017 NAICS code

**Short answer:** From FY2023, SBA's loan file lists thrift and resale shops under 2022 NAICS code 459510. Under code 453310, SBA approved 140 loans from October 2019 to June 2026, with a median of $176,250. Source: SBA 7(a) loan file, June 30, 2026.

Canonical page: https://www.sbaexpress.loans/industries/used-merchandise-stores/
Data as of: 2026-06-30

These figures come from SBA's public loan file for the 7(a) program, which includes SBA Express. They cover NAICS 453310, Used Merchandise Stores. The loans were approved from October 1, 2019 to June 30, 2026. The file lists approvals only, so it shows what lenders funded, not who applied or who was turned down.

## The 2022 NAICS change

From FY2023, lenders file thrift and resale shops under 2022 NAICS code 459510.

NAICS codes were revised in 2022. SBA's loan file shows lenders moving these businesses from 2017 code 453310 to [NAICS 459510, Used merchandise retailers](https://www.sbaexpress.loans/industries/used-merchandise-retailers/) during FY2022 and FY2023. The fall in loans under 453310 is that change of code, not a fall in lending to thrift and resale shops.

**SBA loans by fiscal year under each code, Oct 2019 to Jun 2026**

| Fiscal year | NAICS 453310 (2017) | NAICS 459510 (2022) | Codes together |
| --- | --- | --- | --- |
| FY2020 | 49 | 0 | 49 |
| FY2021 | 50 | 0 | 50 |
| FY2022 | 24 | 35 | 59 |
| FY2023 | 9 | 75 | 84 |
| FY2024 | 7 | 95 | 102 |
| FY2025 | Fewer than 5 | 96 | 97 to 100 |
| FY2026 (to June 30) | 0 | 74 | 74 |

A count of 1 to 4 loans shows as Fewer than 5, so a total that includes one is shown as a range. The last column adds the codes shown. Some businesses in this trade may be filed under other codes.

## What lenders check

Each lender sets its own checklist. SBA sets the basic eligibility tests.

A lender reviewing a loan to thrift and resale shops looks at the business's numbers and these items for the trade:

- Where inventory comes from, such as walk-in sellers, estate sales or donations, since each source needs different cash and labor
- Secondhand dealer permits and police reporting duties, and for any pawn operation, whether merchandise sales rather than loan interest bring in most revenue
- Tagging and markdown schedule, since items that sit too long lose their shelf space and are written off or donated

What SBA sets and what the lender sets

Under SOP 50 10 8.1, SBA sets no minimum credit score; the lender applies its own credit standards. To qualify, a business must be an operating, for-profit business located in the United States that is small under SBA size standards and can show a need for the credit. Source: SOP 50 10 8.1: Sec. B, Ch. 2, Para. C.2; SBA Procedural Notice 5000-876777; 13 CFR § 120.100.

## Common uses of the money

Businesses like these use SBA loans for:

- Cash for buying from sellers at the counter, which the shop pays before any item is priced
- Racks, shelving and a point-of-sale system with item-level tags for a larger sales floor
- Sorting, cleaning and repair equipment, such as steamers, washers or a refinishing area for furniture

## The cash cycle

The shop pays sellers at the counter for stock that may sit for some time, so cash goes out well before any sale. Spring cleaning, back-to-school and holiday periods bring the busiest traffic.

## Collateral

Secondhand goods are hard to value, so collateral rests on racks, steamers, refinishing equipment and often the owner's real estate.

SBA collateral and guarantee rules

On an SBA Express loan of $50,000 or less, collateral is not required. Above that, the lender may use its own collateral policies for similar non-SBA loans. Under SOP 50 10 8.1, a loan request must not be declined solely because collateral is inadequate.

Every owner of 20% or more of the business must give an unlimited personal guarantee. Source: SOP 50 10 8.1: App. 19, Para. B.3; App. 19, Para. A (p. 404); Sec. A, Ch. 5, Para. A.1 (p. 93); 13 CFR § 120.160(a).

## How much they borrow

Half of these loans were between $49,700 and $388,650.

Share of 140 loans by size, Oct 2019 to Jun 2026

- $50,000 or less: 31%
- $50,001 to $150,000: 16%
- $150,001 to $350,000: 24%
- $350,001 to $500,000: 14%
- $500,001 to $1,000,000: 8.6%
- $1,000,001 to $2,000,000: 5.7%
- Over $2,000,000: Fewer than 5

Bars show each band's share of the loans. Fewer than 5 marks a band whose count we do not publish.

The median loan was $176,250, close to the $200,000 median for all SBA 7(a) loans. Half of the loans fell between $49,700 and $388,650. The most common size band was $50,000 or less.

By business age, 44% had operated for more than 2 years and 19% for 2 years or less. 30% were startups opening with the loan, and 6.4% paid for a change of ownership.

## What they paid

SBA approved 8 loans to these businesses since October 2023. Recent loans that few give no rate of their own, so these figures cover October 1, 2019 to June 30, 2026.

Prime + 2.5: Median spread over Prime

Prime + 2.6: All industries, median spread

The median spread across 140 approvals was Prime plus 2.5 percentage points, against Prime plus 2.6 percentage points for all industries. A spread is measured against Prime on the approval date, which makes loans from different years comparable. It is not today's rate.

SBA's maximum rate today

SBA caps a variable rate by loan size. For a loan of $50,001 to $250,000, the cap is Prime plus 6.0 percentage points. The typical loan here, $176,250, is in that range. With Prime at 7.00% as of Nov 10, 2026, the maximum is 13.00% today. Source: SOP 50 10 8.1: App. 18, Para. A.2 (p. 395); 13 CFR § 120.214(d)(2).

## How the money comes

40% of the loans went through SBA Express and 24% were lines of credit. The median term was 10 years.

40.0%: Through SBA Express

24.3%: Lines of credit

10 years: Median term

Across all industries, 38.5% of loans went through SBA Express and 27% were lines of credit. Express counts here include Export Express.

SBA Express in brief

An SBA Express loan can be as large as $500,000, and SBA guarantees 50% of it. On an Express loan, the lender makes the credit decision without prior SBA review. SBA's procedures also say only a lender with SBA Express authority can make one. Source: SOP 50 10 8.1: Sec. B, Ch. 2, Para. B.1 (p. 126); App. 16, Para. B.2; Sec. B, Ch. 2, Para. C.2; Sec. B, Ch. 2 (p. 125).

The median term was 10 years (120 months). For working capital, SBA's maximum term is 10 years. For equipment, it is 10 years, or up to 15 years if the IRS asset class useful life supports it. Source: SOP 50 10 8.1: App. 17, Para. A.1 (p. 390); App. 17, Para. A.2 (p. 390).

## Who lends

The Huntington National Bank made the most loans, 18 of 140 (13%).

**Largest lenders by loans, Oct 2019 to Jun 2026**

| Lender | Type | Loans | Share of loans |
| --- | --- | --- | --- |
| [The Huntington National Bank](https://www.sbaexpress.loans/sba-express-lenders/the-huntington-national-bank/) | Bank | 18 | 12.9% |
| [KeyBank](https://www.sbaexpress.loans/sba-express-lenders/keybank/) | Bank | 10 | 7.1% |
| [TD Bank](https://www.sbaexpress.loans/sba-express-lenders/td-bank/) | Bank | 9 | 6.4% |
| [U.S. Bank](https://www.sbaexpress.loans/sba-express-lenders/u-s-bank/) | Bank | 9 | 6.4% |
| [Citizens Bank](https://www.sbaexpress.loans/sba-express-lenders/citizens-bank-tn/) | Bank | 7 | 5.0% |

Lenders are ranked by loans and listed only when they made 5 or more. Janover Capital LLC does not represent these lenders, and a lender's past loans do not describe its current credit policy.

See every lender on the [SBA Express lenders](https://www.sbaexpress.loans/sba-express-lenders/) page.

## Where the loans are

Ohio had the most loans, 15 of 140 (11%).

**Top states by loans, Oct 2019 to Jun 2026**

| State | Loans | Share of loans |
| --- | --- | --- |
| [Ohio](https://www.sbaexpress.loans/ohio-small-business-loans/) | 15 | 10.7% |
| [California](https://www.sbaexpress.loans/california-small-business-loans/) | 13 | 9.3% |
| [Texas](https://www.sbaexpress.loans/texas-small-business-loans/) | 13 | 9.3% |
| [Florida](https://www.sbaexpress.loans/florida-small-business-loans/) | 8 | 5.7% |
| [Missouri](https://www.sbaexpress.loans/missouri-small-business-loans/) | 7 | 5.0% |

Location is the state of the business, not of the lender.

Compare every state on [SBA loans by state](https://www.sbaexpress.loans/sba-loans-by-state/).

## How often these loans went bad

Fewer than 5 of 123 seasoned loans were charged off, against 3.6% of all SBA 7(a) loans.

123: Seasoned loans

Fewer than 5: Charged off

3.6%: All industries, by loans

Fewer than 5 of the 123 loans approved October 1, 2019 to September 30, 2022 were charged off by June 30, 2026. We show no rate, because a rate beside a group of known size would give the count away.

How we measure this

A seasoned loan is one approved October 1, 2019 to September 30, 2022. Newer loans have not had time to go bad, so they are left out. Charged off means the lender wrote the loan off as a loss, shown as status CHGOFF in SBA's file on June 30, 2026. The rate is charged-off loans divided by seasoned loans. This describes what happened to approved loans. It says nothing about whether an application will be approved.

## A payment example

**Payment on a typical loan**

| Item | Example |
| --- | --- |
| Loan amount | $176,250, the median |
| Term | 10 years (120 months), the median |
| Rate | 10.25%, the national median at approval |
| Monthly payment | $2,354 |
| Total interest over the term | $106,185 |

The example uses the median loan and the median term. These businesses have too few recent loans for their own median rate, so it uses the national median at approval, 10.25%. It covers principal and interest only, and it assumes the loan runs the full term. It leaves out fees, including the SBA guaranty fee.

On a variable-rate loan, a 1 percentage point move in Prime changes this payment by about $99 a month. Prime is 7.00% as of Nov 10, 2026. For a payment at today's rate, use the [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Industry is the NAICS code recorded on each loan. This page covers NAICS 453310, Used Merchandise Stores. Express share counts SBA Express and Export Express loans. Lines of credit are loans the file marks as revolving. The median rate is the initial rate on loans with a rate on file. The spread is that rate minus Prime on the approval date, for variable-rate loans only. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) loan file, June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SOP 50 10 8.1: App. 19, Para. A (p. 404); Sec. B, Ch. 2, Para. C.2 (Para. C begins p. 127); App. 19, Para. B.3 (Para. B begins p. 408); App. 16, Para. B.2 (Para. B begins p. 388); Sec. B, Ch. 2 (p. 125); Sec. B, Ch. 2, Para. B.1 (p. 126); Sec. A, Ch. 5, Para. A.1 (p. 93); App. 17, Para. A.2 (p. 390); App. 17, Para. A.1 (p. 390); SBA Procedural Notice 5000-876777; 13 CFR § 120.160(a)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.100](https://www.ecfr.gov/current/title-13/section-120.100)
- [SOP 50 10 8.1: App. 18, Para. A.2 (p. 395); 13 CFR § 120.214(d)(2)](https://www.ecfr.gov/current/title-13/section-120.214)