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County9th of 24 in Maryland by approvalsFIPS 24013
SBA loans in Carroll 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 Carroll County, Maryland, received 136 SBA loan approvals worth $62.5M in FY2021 to FY2025 (132 7(a), 4 504).
That is 31.8 approvals per 1,000 business establishments (4,279 establishments in 2023), close to the Maryland figure of 37.3 and below the national 41.0.
It ranks 9th of 24 Maryland counties with approvals. In FY2025 there were 39, up 8% on FY2024.
33 lenders had approvals here; the most active were Manufacturers and Traders Trust Company (55), BayFirst National Bank (8) and Readycap Lending, LLC (6). The most common industry was services to buildings and dwellings.
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 Carroll County
By number of approvals to businesses in the county, FY2021–FY2025; 33 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust CompanyBuffalo, NY | 55 | $15.9M | 40.4% | |
| 2 | BayFirst National BankSaint Petersburg, FL | 8 | $1.5M | 5.9% | |
| 3 | Readycap Lending, LLCBerkeley Heights, NJ | 6 | $1.4M | 4.4% | |
| 4 | Northeast BankLewiston, ME | 6 | $1.2M | 4.4% | |
| 5 | First National Bank of PennsylvaniaGreenville, PA | 4 | $3.6M | 2.9% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 4 | $3.0M | 2.9% | |
| 7 | The Huntington National BankColumbus, OH | 4 | $2.0M | 2.9% | |
| 8 | PNC Bank, National AssociationWilmington, DE | 4 | $1.1M | 2.9% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 4 | $83K | 2.9% | |
| 10 | Fulton Bank, National AssociationLancaster, PA | 3 | $3.7M | 2.2% | |
| 11 | First Bank of the LakeOsage Beach, MO | 3 | $2.9M | 2.2% | |
| 12 | Business Finance Group, Inc.Fairfax, VA · CDC | 3 | $2.2M | 2.2% | |
| 13 | Farmers & Merchants BankUpperco, MD | 3 | $2.1M | 2.2% | |
| 14 | United Midwest Savings Bank National AssociationDe Graff, OH | 3 | $970K | 2.2% | |
| 15 | Celtic Bank CorporationSalt Lake City, UT | 3 | $768K | 2.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Services to Buildings and DwellingsNAICS 5617 | 11 | 8.1% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 6.6% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 5.9% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 8 | 5.9% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 7 | 5.1% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 5.1% | |
| 7 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 5.1% | |
| 8 | Architectural, Engineering, and Related ServicesNAICS 5413 | 6 | 4.4% | |
| 9 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 5 | 3.7% | |
| 10 | Residential Building ConstructionNAICS 2361 | 5 | 3.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Professional, Scientific, and Technical Services | 22 | 16.2% | |
| 2 | Construction | 21 | 15.4% | |
| 3 | Health Care and Social Assistance | 14 | 10.3% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 14 | 10.3% | |
| 5 | Other Services (except Public Administration) | 13 | 9.6% | |
| 6 | Accommodation and Food Services | 10 | 7.4% | |
| 7 | Retail Trade | 10 | 7.4% | |
| 8 | Arts, Entertainment, and Recreation | 10 | 7.4% |
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* | 25 | $4.8M | $50K | 1 | — | 26 | 262 |
| FY2025 | 38 | $9.1M | $150K | 1 | — | 39 | 261 |
| FY2024 | 36 | $15.2M | $138K | 0 | — | 36 | 390 |
| FY2023 | 21 | $9.7M | $150K | 0 | — | 21 | 254 |
| FY2022 | 12 | $12.9M | $325K | 1 | — | 13 | 208 |
| FY2021 | 25 | $12.7M | $180K | 2 | — | 27 | 699 |
| FY2020 | 25 | $9.1M | $150K | 2 | — | 27 | 287 |
| FY2019 | 30 | $5.8M | $54K | 1 | — | 31 | 270 |
| FY2018 | 29 | $5.4M | $100K | 0 | — | 29 | 341 |
| FY2017 | 36 | $4.1M | $87K | 1 | — | 37 | 183 |
| FY2016 | 31 | $8.2M | $100K | 0 | — | 31 | 295 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 155 approvals.
Against Maryland and the country
| FY2021–FY2025 | Carroll County | Maryland | United States |
|---|---|---|---|
| Approvals | 136 | 5,330 | 342,825 |
| Approvals per 1,000 establishments | 31.8 | 37.3 | 41.0 |
| Median 7(a) approval | $150K | $138K | $190K |
| Median 504 approval | $721K | $866K | $657K |
| Average approval | $459K | $433K | $573K |
| 504 share of approvals | 2.9% | 4.0% | 11.0% |
| Jobs supported per approval, as reported | 13.3 | 11.1 | 10.5 |
| Share of state approvals | 2.6% | 100.0% | — |
Approval sizes
- $50,000 or less26.5%36
- $50,001 to $150,00025.0%34
- $150,001 to $350,00018.4%25
- $350,001 to $1 million17.6%24
- $1 million to $2 million6.6%9
- Over $2 million5.9%8
Age of the businesses
- Existing, more than 2 years old52.9%72
- New business, 2 years or less11.8%16
- Startup, loan funds will open the business24.3%33
- Change of ownership11.0%15
Questions and answers
Which lenders make the most SBA loans in Carroll County?
By approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (55), BayFirst National Bank (8), Readycap Lending, LLC (6), Northeast Bank (6), First National Bank of Pennsylvania (4). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Carroll County?
The median 7(a) approval was $150K and the median 504 approval $721K; the Maryland 7(a) median was $138K.
Which industries get the most SBA loans in Carroll County?
Services to Buildings and Dwellings (11); Other Specialty Trade Contractors (9); Other Amusement and Recreation Industries (8); Offices of Other Health Practitioners (8); Building Equipment Contractors (7).
Is SBA lending in Carroll County rising?
Approvals in the three latest complete fiscal years total 96, against 67 in the three before: rising (+43%).
How does Carroll County compare with the rest of Maryland?
31.8 approvals per 1,000 establishments against 37.3 statewide, and 136 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