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County2nd of 64 in Alabama by approvalsFIPS 01089
SBA loans in Madison County, Alabama
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Madison County, Alabama, received 235 SBA loan approvals worth $158M in FY2021 to FY2025 (200 7(a), 35 504).
That is 25.3 approvals per 1,000 business establishments (9,295 establishments in 2023), close to the Alabama figure of 24.1 and below the national 41.0.
It ranks 2nd of 64 Alabama counties with approvals. In FY2025 there were 72, up 31% on FY2024.
61 lenders had approvals here; the most active were The Huntington National Bank (30), Newtek Bank, National Association (18) and Florida First Capital Finance Corporation, Inc. (13). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Madison County
By number of approvals to businesses in the county, FY2021–FY2025; 61 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 30 | $9.8M | 12.8% | |
| 2 | Newtek Bank, National AssociationMiami, FL | 18 | $9.1M | 7.7% | |
| 3 | Florida First Capital Finance Corporation, Inc.Tallahassee, FL · CDC | 13 | $10.8M | 5.5% | |
| 4 | BayFirst National BankSaint Petersburg, FL | 13 | $2.4M | 5.5% | |
| 5 | Pinnacle BankNashville, TN | 11 | $11.4M | 4.7% | |
| 6 | Sabre FinanceBirmingham, AL | 11 | $1.7M | 4.7% | |
| 7 | Wells Fargo Bank National AssociationSioux Falls, SD | 10 | $1.8M | 4.3% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 8 | $11.1M | 3.4% | |
| 9 | Birmingham Citywide Local Development CompanyBirmingham, AL · CDC | 8 | $8.6M | 3.4% | |
| 10 | Florida Business Development CorporationTampa, FL · CDC | 8 | $7.2M | 3.4% | |
| 11 | Northeast BankLewiston, ME | 8 | $973K | 3.4% | |
| 12 | PNC Bank, National AssociationWilmington, DE | 7 | $1.4M | 3.0% | |
| 13 | Southern Development CouncilMountain Brook, AL · CDC | 6 | $10.6M | 2.6% | |
| 14 | Readycap Lending, LLCBerkeley Heights, NJ | 6 | $3.9M | 2.6% | |
| 15 | Celtic Bank CorporationSalt Lake City, UT | 5 | $6.5M | 2.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 34 | 14.5% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 15 | 6.4% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 14 | 6.0% | |
| 4 | Personal Care ServicesNAICS 8121 | 12 | 5.1% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 8 | 3.4% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 8 | 3.4% | |
| 7 | Traveler AccommodationNAICS 7211 | 6 | 2.6% | |
| 8 | Residential Building ConstructionNAICS 2361 | 6 | 2.6% | |
| 9 | Building Finishing ContractorsNAICS 2383 | 6 | 2.6% | |
| 10 | Offices of PhysiciansNAICS 6211 | 5 | 2.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 43 | 18.3% | |
| 2 | Other Services (except Public Administration) | 30 | 12.8% | |
| 3 | Construction | 25 | 10.6% | |
| 4 | Professional, Scientific, and Technical Services | 24 | 10.2% | |
| 5 | Retail Trade | 21 | 8.9% | |
| 6 | Health Care and Social Assistance | 19 | 8.1% | |
| 7 | Arts, Entertainment, and Recreation | 18 | 7.7% | |
| 8 | Manufacturing | 15 | 6.4% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 36 | $15.7M | $331K | 8 | $11.4M | 44 | 489 |
| FY2025 | 65 | $28.1M | $216K | 7 | $7.0M | 72 | 796 |
| FY2024 | 51 | $28.9M | $250K | 4 | $3.9M | 55 | 514 |
| FY2023 | 44 | $27.0M | $355K | 2 | — | 46 | 640 |
| FY2022 | 12 | $7.6M | $390K | 12 | $15.9M | 24 | 250 |
| FY2021 | 28 | $28.9M | $439K | 10 | $9.2M | 38 | 770 |
| FY2020 | 29 | $11.0M | $216K | 7 | $6.1M | 36 | 506 |
| FY2019 | 25 | $14.5M | $306K | 2 | — | 27 | 360 |
| FY2018 | 34 | $16.5M | $200K | 4 | $1.9M | 38 | 617 |
| FY2017 | 49 | $14.4M | $115K | 8 | $8.5M | 57 | 489 |
| FY2016 | 56 | $18.4M | $75K | 13 | $5.5M | 69 | 679 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 227 approvals.
Against Alabama and the country
| FY2021–FY2025 | Madison County | Alabama | United States |
|---|---|---|---|
| Approvals | 235 | 2,552 | 342,825 |
| Approvals per 1,000 establishments | 25.3 | 24.1 | 41.0 |
| Median 7(a) approval | $297K | $260K | $190K |
| Median 504 approval | $704K | $659K | $657K |
| Average approval | $671K | $696K | $573K |
| 504 share of approvals | 14.9% | 13.7% | 11.0% |
| Jobs supported per approval, as reported | 12.6 | 11.4 | 10.5 |
| Share of state approvals | 9.2% | 100.0% | — |
Approval sizes
- $50,000 or less15.3%36
- $50,001 to $150,00017.4%41
- $150,001 to $350,00019.6%46
- $350,001 to $1 million29.8%70
- $1 million to $2 million11.1%26
- Over $2 million6.8%16
Age of the businesses
- Existing, more than 2 years old43.8%103
- New business, 2 years or less15.7%37
- Startup, loan funds will open the business29.8%70
- Change of ownership10.6%25
Questions and answers
Which lenders make the most SBA loans in Madison County?
By approvals in FY2021 to FY2025: The Huntington National Bank (30), Newtek Bank, National Association (18), Florida First Capital Finance Corporation, Inc. (13), BayFirst National Bank (13), Pinnacle Bank (11). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Madison County?
The median 7(a) approval was $297K and the median 504 approval $704K; the Alabama 7(a) median was $260K.
Which industries get the most SBA loans in Madison County?
Restaurants and Other Eating Places (34); Other Amusement and Recreation Industries (15); Automotive Repair and Maintenance (14); Personal Care Services (12); Building Equipment Contractors (8).
Is SBA lending in Madison County rising?
Approvals in the three latest complete fiscal years total 173, against 98 in the three before: rising (+77%).
How does Madison County compare with the rest of Alabama?
25.3 approvals per 1,000 establishments against 24.1 statewide, and 235 of the state's 2,552 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error