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County4th of 107 in Kentucky by approvalsFIPS 21015
SBA loans in Boone County, Kentucky
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.
SBA approved 156 loans to businesses in Boone County, Kentucky, in FY2021 to FY2025, worth $65.4M: 143 under 7(a) and 13 under 504.
That is 49.3 approvals per 1,000 business establishments (3,163 establishments in 2023), above the Kentucky figure of 27.1 and above the national 41.0.
It ranks 4th of 107 Kentucky counties with approvals. In FY2025 there were 22, down 29% on FY2024.
34 lenders had approvals here; the most active were The Huntington National Bank (69), U.S. Bank, National Association (14) and First Commonwealth Bank (6). 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 Boone County
By number of approvals to businesses in the county, FY2021–FY2025; 34 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 69 | $12.5M | 44.2% | |
| 2 | U.S. Bank, National AssociationCincinnati, OH | 14 | $2.9M | 9.0% | |
| 3 | First Commonwealth BankIndiana, PA | 6 | $5.3M | 3.8% | |
| 4 | Alloy Development Co., Inc.Cincinnati, OH · CDC | 6 | $4.5M | 3.8% | |
| 5 | Stock Yards Bank & Trust CompanyLouisville, KY | 5 | $2.0M | 3.2% | |
| 6 | Telhio Credit Union IncColumbus, OH | 4 | $5.0M | 2.6% | |
| 7 | KeyBank National AssociationCleveland, OH | 4 | $647K | 2.6% | |
| 8 | Fifth Third BankCincinnati, OH | 4 | $567K | 2.6% | |
| 9 | Heritage Bank IncBurlington, KY | 3 | $2.0M | 1.9% | |
| 10 | Community Ventures CorporationLexington, KY · CDC | 3 | $1.3M | 1.9% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 3 | $927K | 1.9% | |
| 12 | Republic Bank & Trust CompanyLouisville, KY | 3 | $479K | 1.9% | |
| 13 | United BankFairfax, VA | 2 | — | 1.3% | |
| 14 | Wright Patt Credit Union IncBeavercreek, OH | 2 | — | 1.3% | |
| 15 | First Financial BankCincinnati, OH | 2 | — | 1.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 7.1% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 10 | 6.4% | |
| 3 | General Freight TruckingNAICS 4841 | 10 | 6.4% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 5.8% | |
| 5 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 8 | 5.1% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 7 | 4.5% | |
| 7 | Personal Care ServicesNAICS 8121 | 6 | 3.8% | |
| 8 | Offices of Other Health PractitionersNAICS 6213 | 6 | 3.8% | |
| 9 | Lessors of Real EstateNAICS 5311 | 5 | 3.2% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 5 | 3.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 29 | 18.6% | |
| 2 | Other Services (except Public Administration) | 22 | 14.1% | |
| 3 | Professional, Scientific, and Technical Services | 15 | 9.6% | |
| 4 | Retail Trade | 15 | 9.6% | |
| 5 | Transportation and Warehousing | 15 | 9.6% | |
| 6 | Accommodation and Food Services | 14 | 9.0% | |
| 7 | Health Care and Social Assistance | 13 | 8.3% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 9 | 5.8% |
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* | 12 | $8.7M | $222K | 1 | — | 13 | 129 |
| FY2025 | 22 | $8.1M | $175K | 0 | — | 22 | 318 |
| FY2024 | 26 | $6.6M | $100K | 5 | $4.6M | 31 | 360 |
| FY2023 | 19 | $6.1M | $100K | 0 | — | 19 | 135 |
| FY2022 | 35 | $10.6M | $93K | 4 | $3.4M | 39 | 255 |
| FY2021 | 41 | $23.8M | $113K | 4 | $2.1M | 45 | 605 |
| FY2020 | 23 | $5.7M | $100K | 1 | — | 24 | 347 |
| FY2019 | 30 | $6.1M | $44K | 3 | $2.6M | 33 | 175 |
| FY2018 | 38 | $6.4M | $51K | 2 | — | 40 | 292 |
| FY2017 | 35 | $11.2M | $150K | 1 | — | 36 | 514 |
| FY2016 | 41 | $15.2M | $45K | 4 | $4.5M | 45 | 370 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 178 approvals.
Against Kentucky and the country
| FY2021–FY2025 | Boone County | Kentucky | United States |
|---|---|---|---|
| Approvals | 156 | 2,558 | 342,825 |
| Approvals per 1,000 establishments | 49.3 | 27.1 | 41.0 |
| Median 7(a) approval | $105K | $150K | $190K |
| Median 504 approval | $366K | $495K | $657K |
| Average approval | $419K | $494K | $573K |
| 504 share of approvals | 8.3% | 5.7% | 11.0% |
| Jobs supported per approval, as reported | 10.7 | 11.0 | 10.5 |
| Share of state approvals | 6.1% | 100.0% | — |
Approval sizes
- $50,000 or less29.5%46
- $50,001 to $150,00024.4%38
- $150,001 to $350,00017.3%27
- $350,001 to $1 million16.7%26
- $1 million to $2 million7.7%12
- Over $2 million4.5%7
Age of the businesses
- Existing, more than 2 years old57.7%90
- New business, 2 years or less19.9%31
- Startup, loan funds will open the business16.7%26
- Change of ownership5.8%9
Questions and answers
Which lenders make the most SBA loans in Boone County?
By approvals in FY2021 to FY2025: The Huntington National Bank (69), U.S. Bank, National Association (14), First Commonwealth Bank (6), Alloy Development Co., Inc. (6), Stock Yards Bank & Trust Company (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Boone County?
The median 7(a) approval was $105K and the median 504 approval $366K; the Kentucky 7(a) median was $150K.
Which industries get the most SBA loans in Boone County?
Restaurants and Other Eating Places (11); Automotive Repair and Maintenance (10); General Freight Trucking (10); Other Specialty Trade Contractors (9); Management, Scientific, and Technical Consulting Services (8).
Is SBA lending in Boone County rising?
Approvals in the three latest complete fiscal years total 72, against 108 in the three before: falling (-33%).
How does Boone County compare with the rest of Kentucky?
49.3 approvals per 1,000 establishments against 27.1 statewide, and 156 of the state's 2,558 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