SBA lending report: second quarter of 2026
Short answer
SBA approved 13,291 7(a) loans worth $7.31 billion in the second quarter of 2026, per SBA's June 30, 2026 loan file. Loans fell 9.4% from a year earlier. 4,883 were SBA Express loans.
- 7(a) loans approved, Q2 2026
- 13,291
- dollars approved
- $7.31B
- median loan
- $217,000
- SBA Express loans
- 4,883
SBA approved 13,291 7(a) loans worth $7.31 billion from April 1 to June 30, 2026. That is SBA fiscal 2026, quarter 3.
Compared with the second quarter of 2025, loans fell 9.4% and dollars fell 1.4%. The medianThe middle figure. Half the loans were larger and half were smaller. loan rose from $165,000 to $217,000.
SBA Express loans fell 2.4%, to 4,883, which is 36.7% of all 7(a) loans in the quarter.
Every table here is free to use, and the CSV files are at the end of this report.
| Measure | Q2 2026 | Q1 2026 | Q2 2025 | Change from Q2 2025 |
|---|---|---|---|---|
| Loans approved | 13,291 | 13,548 | 14,669 | -9.4% |
| Dollars approved | $7.31 billion | $7.84 billion | $7.41 billion | -1.4% |
| Median loan | $217,000 | $200,000 | $165,000 | +31.5% |
| SBA Express loans | 4,883 | 4,804 | 5,005 | -2.4% |
| Share of loans through SBA Express | 36.7% | 35.5% | 34.1% | |
| Share that are lines of credit | 26.1% | 26.0% | 27.4% | |
| Median starting rate | 9.50% | 9.50% | 10.25% | |
| Median spread over Prime | 2.75 points | 2.75 points | 2.75 points | |
| Median term | 10 years | 10 years | 10 years | |
| Jobs supported (lender estimates) | 132,789 | 137,854 | 141,672 | -6.3% |
Starting rates are at approval, not today's rates. Jobs are lender estimates that SBA does not audit.
The quarter-by-quarter record
27 quarters of approvals from one file, so every column is counted the same way.
The lightest quarter in the file is Q2 2020, with 6,942 loans. The file records the numbers but does not say what caused them.
The amber column is Q2 2026. Each column is one calendar quarter.
Gross loan amount at approval.
The median is the middle loan: half were larger and half were smaller.
| Quarter | Loans | Dollars | Median loan | SBA Express loans | Lines of credit |
|---|---|---|---|---|---|
| Q2 2026 | 13,291 | $7.31 billion | $217,000 | 4,883 | 26.1% |
| Q1 2026 | 13,548 | $7.84 billion | $200,000 | 4,804 | 26.0% |
| Q4 2025 | 8,802 | $4.73 billion | $200,000 | 3,111 | 26.6% |
| Q3 2025 | 13,880 | $8.45 billion | $234,000 | 4,582 | 24.9% |
| Q2 2025 | 14,669 | $7.41 billion | $165,000 | 5,005 | 27.4% |
| Q1 2025 | 18,960 | $8.79 billion | $166,500 | 6,173 | 26.6% |
| Q4 2024 | 16,587 | $7.42 billion | $150,000 | 5,586 | 26.9% |
| Q3 2024 | 17,629 | $8.49 billion | $150,000 | 5,965 | 27.9% |
| Q2 2024 | 16,671 | $7.18 billion | $150,000 | 6,604 | 32.7% |
| Q1 2024 | 15,322 | $6.30 billion | $150,000 | 5,946 | 31.1% |
| Q4 2023 | 12,996 | $5.55 billion | $150,000 | 5,373 | 32.3% |
| Q3 2023 | 14,813 | $7.23 billion | $150,000 | 6,226 | 31.6% |
| Q2 2023 | 13,054 | $5.87 billion | $150,000 | 6,013 | 33.5% |
| Q1 2023 | 12,149 | $5.39 billion | $150,000 | 5,649 | 32.9% |
| Q4 2022 | 11,731 | $6.17 billion | $196,000 | 5,058 | 30.5% |
| Q3 2022 | 12,227 | $6.85 billion | $200,000 | 4,972 | 27.6% |
| Q2 2022 | 12,039 | $6.66 billion | $200,000 | 5,116 | 28.2% |
| Q1 2022 | 10,158 | $5.76 billion | $220,000 | 4,177 | 26.7% |
| Q4 2021 | 7,858 | $3.99 billion | $176,000 | 3,546 | 28.5% |
| Q3 2021 | 17,039 | $14.14 billion | $394,000 | 5,513 | 19.5% |
| Q2 2021 | 12,142 | $8.21 billion | $309,000 | 4,390 | 21.4% |
| Q1 2021 | 8,561 | $5.34 billion | $276,000 | 2,984 | 20.2% |
| Q4 2020 | 7,618 | $4.51 billion | $250,000 | 2,841 | 21.9% |
| Q3 2020 | 10,383 | $7.00 billion | $301,800 | 3,616 | 15.7% |
| Q2 2020 | 6,942 | $3.65 billion | $175,000 | 3,201 | 25.3% |
| Q1 2020 | 8,771 | $3.95 billion | $150,000 | 4,165 | 29.0% |
| Q4 2019 | 10,394 | $4.91 billion | $159,450 | 4,564 | 26.6% |
A quarter is a calendar quarter of the approval date. The first quarter shown is October to December 2019, which is SBA's FY2020 Q1.
SBA Express loans
SBA Express is the 7(a) delivery method for loans up to $500,000. 4,883 SBA Express loans were approved in Q2 2026, or 36.7% of all 7(a) loans in the quarter.
ProcessingMethod is SBA Express Program. Export Express is a separate program and is not counted.
| Fiscal year | 7(a) loans | SBA Express loans | SBA Express share | Median loan | Lines of credit |
|---|---|---|---|---|---|
| FY2026 (partial) | 35,641 | 12,798 | 35.9% | $200,000 | 26.2% |
| FY2025 | 64,096 | 21,346 | 33.3% | $180,000 | 26.5% |
| FY2024 | 62,618 | 23,888 | 38.1% | $150,000 | 30.9% |
| FY2023 | 51,747 | 22,946 | 44.3% | $150,000 | 32.1% |
| FY2022 | 42,282 | 17,811 | 42.1% | $200,000 | 27.8% |
| FY2021 | 45,360 | 15,728 | 34.7% | $330,000 | 20.5% |
| FY2020 | 36,490 | 15,546 | 42.6% | $200,000 | 23.8% |
SBA's fiscal year runs October 1 to September 30. FY2026 covers October 1 through June 30, 2026 and is partial.
Who borrowed
The charts below show who borrowed in the quarter by loan size, business age and industry. Each count is a loan approved, not a business, so a business with two loans appears twice.
Size is the gross amount at approval.
SBA records one of five answers for each loan. Startup means the loan opens the business.
The sector is the first two digits of the NAICS code the lender recorded.
| Industry | Loans | Dollars |
|---|---|---|
| Full-Service Restaurants | 620 | $369.13 million |
| Limited-Service Restaurants | 434 | $212.27 million |
| Fitness and Recreational Sports Centers | 347 | $161.58 million |
| Plumbing, Heating, and Air-Conditioning Contractors | 266 | $103.57 million |
| Residential Remodelers | 258 | $56.85 million |
| Snack and Nonalcoholic Beverage Bars | 250 | $104.90 million |
| Landscaping Services | 237 | $100.91 million |
| General Automotive Repair | 216 | $111.84 million |
| Beauty Salons | 206 | $44.48 million |
| All Other Specialty Trade Contractors | 206 | $117.49 million |
Industry is the NAICS code recorded on the loan.
Who lent
These tables count the loans each lender had approved in the quarter. Lender names and identities follow the FDIC certificate or NCUA charter on the loan, so one institution appears once. A count says what a lender did, not what it will do for you.
| Lender | Loans | Dollars | SBA Express loans |
|---|---|---|---|
| Newtek Bank | 1,257 | $323.51 million | 418 |
| U.S. Bank | 757 | $209.03 million | 597 |
| M&T Bank | 742 | $75.14 million | 714 |
| Northeast Bank | 694 | $131.29 million | 0 |
| The Huntington National Bank | 635 | $261.51 million | 338 |
| Live Oak Banking Company | 588 | $525.55 million | 56 |
| TD Bank | 470 | $74.96 million | 444 |
| Readycap Lending, LLC | 315 | $91.51 million | 0 |
| JPMorgan Chase Bank | 236 | $60.88 million | 218 |
| Zions Bank | 228 | $76.53 million | 149 |
| Lender | SBA Express loans | All 7(a) loans |
|---|---|---|
| M&T Bank | 714 | 742 |
| U.S. Bank | 597 | 757 |
| TD Bank | 444 | 470 |
| Newtek Bank | 418 | 1,257 |
| The Huntington National Bank | 338 | 635 |
| Columbia Bank | 221 | 227 |
| JPMorgan Chase Bank | 218 | 236 |
| Zions Bank | 149 | 228 |
| Banco Popular de Puerto Rico | 125 | 130 |
| Eastern Bank | 80 | 91 |
Where the loans went
The state-by-state table is in the CSV download, sorted by loans.
| State | Loans | Dollars | SBA Express loans |
|---|---|---|---|
| California | 1,610 | $902.38 million | 507 |
| Texas | 1,073 | $824.56 million | 212 |
| Florida | 1,067 | $653.05 million | 270 |
| New York | 843 | $312.10 million | 468 |
| Washington | 471 | $238.52 million | 223 |
| Pennsylvania | 464 | $209.07 million | 207 |
| Ohio | 432 | $237.81 million | 180 |
| New Jersey | 431 | $204.44 million | 204 |
| Illinois | 383 | $250.35 million | 122 |
| Massachusetts | 380 | $132.45 million | 240 |
State is the project state in the file, which is where the business is, not where the lender is.
Rates at approval
The median starting rate on 7(a) loans approved in Q2 2026 was 9.50%. Among variable-rate loans, the median spread over Prime at approval was 2.75 percentage points. These are rates at approval. Today's WSJ PrimeThe base interest rate most U.S. banks use, as published by The Wall Street Journal. is 7.00% as of Nov 10, 2026, and SBA's maximum rate by loan size is on the rates page.
Amber line: the median starting rate on 7(a) loans approved in the quarter. Dark line: WSJ Prime at the end of the quarter, from the FRED DPRIME series. Both are rates from the past, not today's.
Charge-offs
A charge-off means the lender wrote the loan off as a loss. These tables use only loans old enough to have had time to go bad.
Of the 124,132 7(a) loans approved in FY2020 through FY2022, 4,444 had been charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026. That is 3.6% of those loans and 0.9% of their dollars.
SBA recorded charge-offs on 1,236 loans in Q2 2026, with $157.17 million charged off. That counts every loan in this file, whatever year it was approved.
| Approved in | Loans | Charged off | Share of loans | Share of dollars |
|---|---|---|---|---|
| FY2020 | 36,490 | 1,461 | 4.0% | 1.1% |
| FY2021 | 45,360 | 1,277 | 2.8% | 0.7% |
| FY2022 | 42,282 | 1,706 | 4.0% | 1.0% |
| All FY2020 to FY2022 loans | 124,132 | 4,444 | 3.6% | 0.9% |
A newer loan has had less time to go bad, so a rate over all years would mislead. These loans are at least 3.7 years old.
| Delivery method | Loans | Charged off | Share of loans | Share of dollars |
|---|---|---|---|---|
| SBA Express loans | 49,181 | 2,662 | 5.4% | 2.3% |
| All other 7(a) loans | 74,951 | 1,782 | 2.4% | 0.8% |
SBA Express here means the ProcessingMethod contains Express, which adds Export Express loans. SBA Express loans are smaller on average, so loan share and dollar share differ.
By the charge-off date in the file. Only loans approved from FY2020 on are in this file, so the early quarters are low by design.
By industry
162 industries with 100 or more cohort loans have a share we can publish. 61 more had 1 to 4 charge-offs, so we withhold their share. A smaller cohort is left off these tables, because a few loans can swing its rate. Every industry with 5 or more cohort loans is in the CSV file.
| Industry | Loans in the cohort | Charged off | Share of loans | Share of dollars |
|---|---|---|---|---|
| Funeral Homes and Funeral Services | 403 | 0 | 0.0% | 0.0% |
| Gasoline Stations with Convenience Stores | 322 | 0 | 0.0% | 0.0% |
| RV (Recreational Vehicle) Parks and Campgrounds | 196 | 0 | 0.0% | 0.0% |
| Tire Dealers | 161 | 0 | 0.0% | 0.0% |
| Meat Markets | 157 | 0 | 0.0% | 0.0% |
| Lessors of Other Real Estate Property | 156 | 0 | 0.0% | 0.0% |
| Support Activities for Oil and Gas Operations | 151 | 0 | 0.0% | 0.0% |
| Nursing Care Facilities (Skilled Nursing Facilities) | 130 | 0 | 0.0% | 0.0% |
| Hotels (except Casino Hotels) and Motels | 2,773 | 5 | 0.2% | 0.1% |
| Gasoline Stations with Convenience Stores | 1,433 | 6 | 0.4% | 0.1% |
By franchise brand
68 brands with 30 or more cohort loans have a share we can publish. 54 more had 1 to 4 charge-offs, so we withhold their share. The file records a brand when the lender tagged the loan with an SBA franchise code. A charge-off share describes past loans to that brand's franchisees. It does not describe any one franchise location, or the brand's current terms.
| Franchise brand | Loans in the cohort | Charged off | Share of loans | Share of dollars |
|---|---|---|---|---|
| Mr. Appliance | 39 | 11 | 28.2% | 18.2% |
| The Grounds Guys | 83 | 20 | 24.1% | 19.6% |
| 360 Painting | 40 | 8 | 20.0% | 13.1% |
| College Hunks Hauling Junk & Moving | 60 | 11 | 18.3% | 13.8% |
| Rainbow Restoration | 48 | 8 | 16.7% | 8.9% |
| Mosquito Joe | 30 | 5 | 16.7% | 9.7% |
| CycleBar | 32 | 5 | 15.6% | 12.3% |
| Restoration 1 | 33 | 5 | 15.2% | 6.4% |
| Farmers Insurance | 47 | 6 | 12.8% | 6.1% |
| Premier Martial Arts Studio | 74 | 6 | 8.1% | 4.8% |
| Subway | 164 | 6 | 3.7% | 1.2% |
| Franchise brand | Loans in the cohort | Charged off |
|---|---|---|
| Ace Hardware | 183 | 0 |
| Quality Inn | 174 | 0 |
| Super 8 | 158 | 0 |
| Motel 6 | 157 | 0 |
| Crumbl | 154 | 0 |
| Jersey Mike's Subs | 139 | 0 |
| The Goddard School | 130 | 0 |
| Days Inn | 125 | 0 |
| La Quinta | 123 | 0 |
| Tropical Smoothie Cafe | 123 | 0 |
SBA 504 loans
The 504 program funds owner-occupied real estate and heavy equipment through Certified Development Companies. This report tracks it by fiscal year, because the program rules differ from 7(a).
| Fiscal year | 504 loans | Dollars |
|---|---|---|
| FY2026 (partial) | 4,414 | $5.22 billion |
| FY2025 | 6,530 | $7.56 billion |
| FY2024 | 5,770 | $6.42 billion |
| FY2023 | 5,478 | $5.92 billion |
| FY2022 | 8,092 | $7.95 billion |
| FY2021 | 8,263 | $6.89 billion |
| FY2020 | 6,071 | $4.79 billion |
From SBA's 504 loan file, cancelled loans removed. Dollars are the debenture amount in the file's GrossApproval column.
What this report cannot tell you
The file lists loans that were approved. It has no denials or applications, so it cannot show approval odds, and we do not estimate them.
The file is a snapshot taken on June 30, 2026. SBA can revise any quarter in a later file, including charge-offs that post late. Quarterly changes describe what the file shows. They do not say why a number moved.
A fiscal year here is SBA's: October 1 to September 30. A quarter is a calendar quarter of the approval date.
Download the data
- Quarterly national series (One row per quarter, Q4 2019 to Q2 2026, CSV)
- Charge-offs by industry (839 NAICS codes with 5+ cohort loans, CSV)
- Charge-offs by franchise brand (369 brands with 5+ cohort loans, CSV)
- Lenders, this quarter (307 lenders with 5+ loans in the quarter, CSV)
- States, this quarter (52 places with 5+ loans in the quarter, CSV)
- NAICS sectors, this quarter (Loans by sector, CSV)
- Industries, this quarter (NAICS codes with 5+ loans, CSV)
Free to use and cite under CC BY 4.0, with a link to this page. Each file is built from SBA's June 30, 2026 loan file. A count of 1 to 4 is left blank, and a charge-off share is left blank when its count is. No borrower names are in any file.
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. Quarterly figures compare loans by approval date. This report counts all 7(a) loans in SBA's file, including SBA Express. Cancelled loans are removed (50,104 of 388,338 rows in this file). How we build these pages.
Sources
Download this page's data: JSON · CSV
Cite this page: SBA lending report: second quarter of 2026. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/reports/2026-q2/
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