Key takeaways
- 7(a) and 504 loans remain a popular funding tool for businesses across industry, revenue and size categories
- The SBA weekly lending report provides valuable information on loan funding based on specific demographic data
- The majority of 7(a) loans for working capital are under $50,000, while the majority of 504 loans are between $500,000 and $2 million.
The Small Business Administration (SBA) weekly lending report covers the two primary programs offered by the SBA: 7(a) loans and 504 loans. This report provides insight into the industries that are being funded as well as demographic breakdowns based on state, race, gender and veteran status.
As a business owner, it can also guide you to what lenders have the most experience, highest approval rates and highest amounts – which can boost your chances of approval and of getting your funds more quickly.
SBA loans are designed to cover the costs of running your business. Their capped interest rates make them an affordable option for borrowing, and their requirements can be more accessible for startups or lower-revenue businesses. While only 20 percent of businesses applying for funding applied for an SBA loan, according to findings from 2025 Small Business Credit Survey, 55 percent of applicants were fully or partially approved.
By knowing the numbers, you can tailor your application to potentially increase your chances of being approved.
Bankrate insight
- The SBA approved over 60,000 (62,893) 7(a) loans and over 5,000 (5,471) 504 loans in the fiscal year 2024
- The average loan size was $443,097 for the SBA 7(a) loan and $11,112,115 for the 504 loan in the fiscal year 2024
- The highest number of 7(a) loans (29 percent) were for $50,000 or less in 2024
- Most 504 loans (49.5 percent) were between $500,000 and $2 million in 2024
- 83 percent of SBA 7(a) loans and 82 percent of 504 loans in the fiscal year 2024 were approved for urban areas
- Most SBA 7(a) loans (59 percent) and 504 loans (79 percent) went to businesses more than two years old in 2024
- 16 percent of 7(a) loans and 504 loans in 2024 were approved for startups or for entrepreneurs planning to use their loan to launch their business
What is the SBA weekly lending report?
The SBA releases data every week about its 7(a) and 504 loan programs. Previously, this was done through a weekly lending report. The report highlighted funding based on factors like race, gender, veteran status and industry. It also broke down its numbers based on the total amount funded for each program and how many applicants had been approved.
The SBA 7(a) and 504 summary report is an interactive dashboard that provides much of the same financial information. It is no longer summarized in a weekly report, but you can find the same data updated regularly and broken down by fiscal year, along with data points such as race, gender, veteran status and age of business.
Check out our SBA Lending Guide
Want more insights on SBA rates, approval ratings and how to make your application shine? Learn more from our expert SBA loan guide.
Learn more
How does the SBA weekly lending report work?
The SBA weekly lending report gathers information from participating lenders and applicants. Because it is provided voluntarily, the information may not be completely accurate. The lending report can be used as a general gauge to see big-picture trends in the 7(a) and 504 loan programs.
The SBA also publishes summary reports each month and each year, summarizing lender activity over time and allowing you to see trends in lending amounts and approvals.
How to use the SBA weekly lending report to find lenders
The weekly lending report can be a useful tool for business owners looking to get an SBA loan, since the report lists the lenders with the most approved loans and overall loan amounts.
Experience and loan volume matters in a lender. Just because a lender is SBA certified or has handled SBA loans before doesn’t mean that they’re the best pick. While in the fiscal year of 2025 over 23,000 lenders completed at least one 7(a) loan, only 1.6 percent completed 10 or more loans in that time period, according to SBA data.
Going with an experienced lender that has handled over hundreds of applications and a high volume of loan amounts can help make the application process smoother, boost your chances of approval and speed up the process.
As such, going with a lender inexperienced in SBA lending can hamper the process, says Chris Hurn, founder and CEO of SBA lender Fountainhead.
“You do not want to be someone’s guinea pig,” Hurn says. “You hear these horror stories about an SBA loan that took six months or nine months to close. It’s often times because the borrower picked the wrong lender.”
While there are nearly 4,500 banks in the United States, less than a third of them have processed an SBA loan in the last 12 months, Hurn adds.
Using the SBA’s weekly report can give you insight into the top lenders for loan volume and loan amounts, and allow you to choose an experienced lender who can support your application and that has a higher approval rate.
Bankrate insight
When choosing an SBA lender, it can be helpful to pick an SBA Preferred Lender. These lenders are authorized to perform their own underwriting, which can speed up the process. You can use the SBA Lender Match tool to find a preferred lender in your area.
SBA 7(a) vs. SBA 504 loan approvals
SBA 7(a) loans are designed for working capital and regular business expenses. They are the most common option for business owners, with over 62,000 approved applications in 2024. The approval count has surpassed pre-pandemic numbers; in 2019, there were almost 52,000 approved applications for 7(a) loans with an average loan size of $446,487.
SBA 504 loans are meant for equipment financing and commercial real estate. While less common — and more difficult to qualify for — they are funded through Certified Development Companies (CDCs), community-based organizations that promote local economic development.
As such, 7(a) approvals counts tend to be higher than 504 approvals, since they are more versatile and can be used for a variety of expenses. However, 504 loans command more cash in total lent and larger loans overall. While only around 5,400 504 loans were approved in 2024, the overall approval amount was $6,067,275,000, with an average loan size of $11,112,115.
| Total approvals | Approval amount | Average loan size | |
|---|---|---|---|
| SBA 7(a) | 62,893 | $27,364,040,800 | $443,097 |
| SBA 504 | 5,471 | $6,067,275,000 | $11,112,115 |
Bankrate insight
Check out our guide for more information on SBA 7(a) vs. SBA 504 loans.
SBA 7(a) and 504 approvals over time
SBA 7(a) and 504 loan approvals and amounts have changed over time, with 7(a) loans seeing overall more approvals over the last five years. While 2021 saw a spike in approvals due to lower interest rates, 2025 is set to see an new high in 7(a) loans, with over 70,000 approved as of August 2025.
“By all by all projections it looks like this will be the biggest year in SBA fundings on record,” Hurn said. “The SBA was under such a spotlight during the pandemic that I think you have a lot more people looking favorably upon SBA lending as a good option because of the better terms.”
While 504 loans haven’t seen a huge rise – and in fact, for fiscal year 2024, were lower in both approval count and funding from 2022 – approval and funding totals have slowly been rising since 2023.
| Fiscal Year | 7(a) approval count | 7(a) approval amount | 504 approval count | 504 approval amount |
|---|---|---|---|---|
| 2020 | 36,913 | $18,575,389,800 | 6,378 | $5,231,311,000 |
| 2021 | 43,634 | $29,317,869,800 | 9,372 | $7,901,969,540 |
| 2022 | 42,885 | $22,858,941,600 | 8,656 | $8,569,842,290 |
| 2023 | 49,922 | $23,543,070,200 | 5,344 | $5,720,607,000 |
| 2024 | 62,893 | $27,364,040,800 | 5,471 | $6,067,275,000 |
| 2025* | 71,054 | $32,717,297,500 | 6,092 | $6,985,204,000 |
Top SBA 7(a) loan amounts
7(a) loans are the most popular type of SBA loans due to their versatility. This type of loan can be used for nearly any kind of business expense, and the amounts funded tend to be wide-ranging.
The 7(a) program also offers a variety of processing methods and distribution options, including Express loans, which offer quicker funding for loans under $500,000, and the microloan program, which offers loans under $50,000.
As such, the most popular loan amount for 7(a) loans was for less than $50,000, with 29 percent of approved loans being in this category for the fiscal year of 2024. Next-most popular was for loans between $50,000 and $150,000, composing 26 percent of all approved 7(a) loans. Third-most popular was for loan amounts between $500,000 and $2 million, composing 15 percent of 7(a) approvals.
| Loan amount | Total approvals | Approval amount |
|---|---|---|
| Less than $50,000 | 18,364 | $605,729,100 |
| $50,000 to $150,000 | 16,111 | $1,853,912,900 |
| $150,000 to $250,000 | 6,009 | $1,294,705,100 |
| $250,000 to $350,000 | 4,412 | $1,374,541,500 |
| $350,000 to $500,000 | 5,699 | $2,573,902,500 |
| $500,000 to $2 million | 9,361 | $9,710,356,800 |
| Over $2 million | 2,937 | $9,950,892,900 |
Bankrate insight
If your SBA loan is denied, ask the lender why. The answer can help you decide if you should apply again, find a different SBA loan or lender, or look for a new type of business loan with more relaxed eligibility requirements.
Top SBA 504 loan amounts
The majority of 504 loans (49.5 percent) were for amounts between $500,000 and $2 million. This is because 504 loans are used for larger purchases, such as equipment and real estate, that can cost well into the tens or hundreds of thousands of dollars. As such, they tend to be rarer than 7(a) loans due to their restrictions, and approval can be more difficult to obtain.
Loans greater than $2 million make up the second-largest category of 504 loans, followed closely by loans in the $350,000 to $500,000 range. Loans smaller than $50,000, on the other hand, have consistently seen fewer than 10 approvals since 2019, with the maximum number of annual approvals sitting at 15 in 2021.
| Loan amount | Total approvals | Approval amount |
|---|---|---|
| Less than $50,000 | 5 | $240,000 |
| $50,000 to $150,000 | 209 | $24,329,000 |
| $150,000 to $250,000 | 470 | $95,890,000 |
| $250,000 to $350,000 | 542 | $162,418,000 |
| $350,000 to $500,000 | 701 | $298,208,000 |
| $500,000 to $2 million | 2,710 | $2,762,216,000 |
| Over $2 million | 834 | $2,723,974,000 |
Top SBA 7(a) loan approvals by industry
The top industry for 7(a) loans in the 2024 fiscal year was construction, 14.1 percent of all 7(a) loans going to a construction firm. This is followed by accommodation food services taking 12.0 percent of 7(a) loans and retail trade taking 11.4 percent of loans. Accommodation commanded the highest overall approval amount, borrowing $5,193,400,400 in total.
This is similar to the top three industries in 2023 were the same categories, with 13.4 percent of 7(a) loans going to construction, 13.1 percent going to accomodation and ad 12.1 percent going to retail trade.
Despite representing only 0.1 percent of 7(a) loans, with a total approval of 87, mining, quarrying and gas extraction firms had the highest average loan amount at $712,254.02.
Here are the top ten industries approved for 7(a) loans in fiscal year 2024.
| Industry | Total approvals | Approval amount | Average loan size |
|---|---|---|---|
| Construction | 9,874 | $3,268,988,300 | $331,070.32 |
| Accommodation and food services | 8,400 | $5,193,400,400 | $618,261.95 |
| Retail trade | 7,984 | $4,019,877,600 | $503,491.68 |
| Professional, scientific, and technical Services | 7,222 | $2,618,720,000 | $362,603.16 |
| Other services (except public administration) | 6,942 | $2,621,512,300 | $377,630.70 |
| Health care and social assistance | 6,717 | $3,419,768,800 | $509,121.45 |
| Administrative/Support/Waste Management/Remediation services | 4,168 | $1,385,641,700 | $332,447.62 |
| Manufacturing | 4,142 | $2,405,816,900 | $580,834.60 |
| Transportation and warehousing | 3,803 | $1,024,559,500 | $269,408.23 |
| Wholesale trade | 3,218 | $1,721,991,800 | $535,112.43 |
Top SBA 504 loan approvals by industry
The top-funded industries for 504 loans are similar to their 7(a) counterparts. Accommodation and food services saw the highest percent of approvals at 17.2 percent and received the largest share of funding — 22.1 percent of the $6.4 billion in 504 loans went to businesses in accommodation and food services.
Health care made up the second-largest share of funding and approvals, with health care firms taking 14.4 percent of approvals and 12.1 percent of funding amounts.
These numbers are similar to 504 funding from 2023, with accommodation and food services being the most approved and top-funded industry (16.5 percent).
Transportation and warehousing, despite representing only 2.2 percent of loans, had one of the largest average loan sizes at $1,473,567.16, compared to $1,425,943.85 for accomodation and food services.
| Industry | Total approvals | Approval amount | Average loan size |
|---|---|---|---|
| Accommodation and food Services | 1,033 | $1,473,000,000 | $1,425,943.85 |
| Health care and social Assistance | 861 | $807,518,000 | $937,883.86 |
| Other services (except public administration) | 676 | $533,280,000 | $788,875.74 |
| Retail trade | 671 | $728,676,000 | $1,085,955.29 |
| Construction | 588 | $467,602,000 | $795,241.50 |
| Manufacturing | 512 | $718,331,000 | $1,402,990.23 |
| Professional, scientific, and technical services | 381 | $333,023,000 | $874,076.12 |
| Wholesale trade | 311 | $505,845,000 | $1,626,511.25 |
| Arts, entertainment, and recreation | 222 | $268,821,000 | $1,210,905.41 |
| Real estate and rental and leasing | 162 | $214,319,000 | $1,322,956.79 |
Bottom line
The weekly lending report provides insight into how SBA loans are funded. Its data can help guide your business to request loan amounts it is more likely to be approved for. While there is a lot of information to take in, it is worth familiarizing yourself with.
If your business is not in a frequently funded industry, or you want to explore other options, you can compare top business loans to find more ways to finance your business.
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