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County16th of 24 in Maryland by approvalsFIPS 24001
SBA loans in Allegany County, Maryland
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 Allegany County, Maryland, received 54 SBA loan approvals worth $22.5M in FY2021 to FY2025 (51 7(a), 3 504).
That is 37.8 approvals per 1,000 business establishments (1,430 establishments in 2023), close to the Maryland figure of 37.3 and close to the national 41.0.
It ranks 16th of 24 Maryland counties with approvals. In FY2025 there were 14, down 26% on FY2024.
16 lenders had approvals here; the most active were Manufacturers and Traders Trust Company (34), Business Finance Group, Inc. (3) and GBank (2). 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 Allegany County
By number of approvals to businesses in the county, FY2021–FY2025; 16 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust CompanyBuffalo, NY | 34 | $1.5M | 63.0% | |
| 2 | Business Finance Group, Inc.Fairfax, VA · CDC | 3 | $679K | 5.6% | |
| 3 | GBankLas Vegas, NV | 2 | — | 3.7% | |
| 4 | The Huntington National BankColumbus, OH | 2 | — | 3.7% | |
| 5 | FNB Bank IncRomney, WV | 2 | — | 3.7% | |
| 6 | Hanmi BankLos Angeles, CA | 1 | — | 1.9% | |
| 7 | PromiseOne BankDuluth, GA | 1 | — | 1.9% | |
| 8 | First Western SBLC, LLCDallas, TX | 1 | — | 1.9% | |
| 9 | TD Bank, National AssociationWilmington, DE | 1 | — | 1.9% | |
| 10 | First Federal Savings and Loan Association of LakewoodLakewood, OH | 1 | — | 1.9% | |
| 11 | Hometown BankKent, OH | 1 | — | 1.9% | |
| 12 | Newtek Bank, National AssociationMiami, FL | 1 | — | 1.9% | |
| 13 | Bank of ClarkeBerryville, VA | 1 | — | 1.9% | |
| 14 | Somerset Trust CompanySomerset, PA | 1 | — | 1.9% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 13.0% | |
| 2 | Traveler AccommodationNAICS 7211 | 5 | 9.3% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 5 | 9.3% | |
| 4 | Offices of PhysiciansNAICS 6211 | 4 | 7.4% | |
| 5 | Gasoline StationsNAICS 4571 | 3 | 5.6% | |
| 6 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 3 | 5.6% | |
| 7 | Special Food ServicesNAICS 7223 | 3 | 5.6% | |
| 8 | Beer, Wine, and Liquor StoresNAICS 4453 | 2 | 3.7% | |
| 9 | Clothing and Clothing Accessories RetailersNAICS 4581 | 2 | 3.7% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 16 | 29.6% | |
| 2 | Health Care and Social Assistance | 10 | 18.5% | |
| 3 | Retail Trade | 9 | 16.7% | |
| 4 | Finance and Insurance | 3 | 5.6% | |
| 5 | Other Services (except Public Administration) | 3 | 5.6% | |
| 6 | Manufacturing | 2 | 3.7% | |
| 7 | Arts, Entertainment, and Recreation | 2 | 3.7% | |
| 8 | Transportation and Warehousing | 2 | 3.7% |
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* | 10 | $274K | $25K | 0 | — | 10 | 23 |
| FY2025 | 13 | $6.8M | $50K | 1 | — | 14 | 119 |
| FY2024 | 19 | $2.4M | $40K | 0 | — | 19 | 94 |
| FY2023 | 9 | $6.5M | $235K | 2 | — | 11 | 106 |
| FY2022 | 8 | $2.5M | $25K | 0 | — | 8 | 25 |
| FY2021 | 2 | — | — | 0 | — | 2 | 20 |
| FY2020 | 6 | $3.7M | $75K | 0 | — | 6 | 58 |
| FY2019 | 3 | $1.9M | $25K | 0 | — | 3 | 27 |
| FY2018 | 4 | $294K | $49K | 0 | — | 4 | 7 |
| FY2017 | 2 | — | — | 0 | — | 2 | 2 |
| FY2016 | 9 | $520K | $40K | 0 | — | 9 | 49 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 24 approvals.
Against Maryland and the country
| FY2021–FY2025 | Allegany County | Maryland | United States |
|---|---|---|---|
| Approvals | 54 | 5,330 | 342,825 |
| Approvals per 1,000 establishments | 37.8 | 37.3 | 41.0 |
| Median 7(a) approval | $45K | $138K | $190K |
| Median 504 approval | $236K | $866K | $657K |
| Average approval | $417K | $433K | $573K |
| 504 share of approvals | 5.6% | 4.0% | 11.0% |
| Jobs supported per approval, as reported | 6.7 | 11.1 | 10.5 |
| Share of state approvals | 1.0% | 100.0% | — |
Approval sizes
- $50,000 or less53.7%29
- $50,001 to $150,00014.8%8
- $150,001 to $350,0009.3%5
- $350,001 to $1 million5.6%3
- $1 million to $2 million9.3%5
- Over $2 million7.4%4
Age of the businesses
- Existing, more than 2 years old33.3%18
- New business, 2 years or less33.3%18
- Startup, loan funds will open the business18.5%10
- Change of ownership14.8%8
Questions and answers
Which lenders make the most SBA loans in Allegany County?
By approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (34), Business Finance Group, Inc. (3), GBank (2), The Huntington National Bank (2), FNB Bank Inc (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Allegany County?
The median 7(a) approval was $45K and the median 504 approval $236K; the Maryland 7(a) median was $138K.
Which industries get the most SBA loans in Allegany County?
Restaurants and Other Eating Places (7); Traveler Accommodation (5); Offices of Other Health Practitioners (5); Offices of Physicians (4); Gasoline Stations (3).
Is SBA lending in Allegany County rising?
Approvals in the three latest complete fiscal years total 44, against 16 in the three before: rising (+175%).
How does Allegany County compare with the rest of Maryland?
37.8 approvals per 1,000 establishments against 37.3 statewide, and 54 of the state's 5,330 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