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County40th of 99 in North Carolina by approvalsFIPS 37045
SBA loans in Cleveland County, North Carolina
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 38 loans to businesses in Cleveland County, North Carolina, in FY2021 to FY2025, worth $21.7M: 36 under 7(a) and 2 under 504.
That is 18.7 approvals per 1,000 business establishments (2,028 establishments in 2023), below the North Carolina figure of 28.5 and below the national 41.0.
It ranks 40th of 99 North Carolina counties with approvals. In FY2025 there were 9.
23 lenders had approvals here; the most active were Wells Fargo Bank National Association (4), Live Oak Banking Company (3) and First Financial Bank (3). The most common industry was personal care services.
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 Cleveland County
By number of approvals to businesses in the county, FY2021–FY2025; 23 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National AssociationSioux Falls, SD | 4 | $40K | 10.5% | |
| 2 | Live Oak Banking CompanyWilmington, NC | 3 | $4.2M | 7.9% | |
| 3 | First Financial BankEl Dorado, AR | 3 | $2.3M | 7.9% | |
| 4 | Bank OZKLittle Rock, AR | 3 | $572K | 7.9% | |
| 5 | Newtek Small Business Finance, Inc.Lake Success, NY | 2 | — | 5.3% | |
| 6 | Truist BankCharlotte, NC | 2 | — | 5.3% | |
| 7 | United Midwest Savings Bank National AssociationDe Graff, OH | 2 | — | 5.3% | |
| 8 | Northeast BankLewiston, ME | 2 | — | 5.3% | |
| 9 | Lendistry SBLC, LLCLos Angeles, CA | 2 | — | 5.3% | |
| 10 | PNC Bank, National AssociationWilmington, DE | 1 | — | 2.6% | |
| 11 | Lincoln Savings BankReinbeck, IA | 1 | — | 2.6% | |
| 12 | Commercial BankHarrogate, TN | 1 | — | 2.6% | |
| 13 | Citizens BankElizabethton, TN | 1 | — | 2.6% | |
| 14 | The Fidelity BankFuquay Varina, NC | 1 | — | 2.6% | |
| 15 | HomeTrust BankAsheville, NC | 1 | — | 2.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Personal Care ServicesNAICS 8121 | 5 | 13.2% | |
| 2 | Poultry and Egg ProductionNAICS 1123 | 4 | 10.5% | |
| 3 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 4 | 10.5% | |
| 4 | Gasoline StationsNAICS 4571 | 2 | 5.3% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 2 | 5.3% | |
| 6 | Business Support ServicesNAICS 5614 | 2 | 5.3% | |
| 7 | Architectural and Structural Metals ManufacturingNAICS 3323 | 1 | 2.6% | |
| 8 | Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments ManufacturingNAICS 3252 | 1 | 2.6% | |
| 9 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 1 | 2.6% | |
| 10 | Gasoline StationsNAICS 4471 | 1 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 9 | 23.7% | |
| 2 | Wholesale Trade | 5 | 13.2% | |
| 3 | Manufacturing | 4 | 10.5% | |
| 4 | Agriculture, Forestry, Fishing and Hunting | 4 | 10.5% | |
| 5 | Retail Trade | 4 | 10.5% | |
| 6 | Construction | 4 | 10.5% | |
| 7 | Accommodation and Food Services | 3 | 7.9% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 5.3% |
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* | 7 | $8.0M | $1.1M | 0 | — | 7 | 38 |
| FY2025 | 9 | $2.8M | $112K | 0 | — | 9 | 38 |
| FY2024 | 7 | $5.0M | $500K | 0 | — | 7 | 83 |
| FY2023 | 6 | $4.7M | $485K | 0 | — | 6 | 22 |
| FY2022 | 7 | $4.9M | $304K | 0 | — | 7 | 101 |
| FY2021 | 7 | $3.1M | $314K | 2 | — | 9 | 46 |
| FY2020 | 4 | $7.2M | $2.1M | 2 | — | 6 | 254 |
| FY2019 | 7 | $7.0M | $417K | 0 | — | 7 | 115 |
| FY2018 | 7 | $6.9M | $282K | 0 | — | 7 | 43 |
| FY2017 | 5 | $3.8M | $100K | 0 | — | 5 | 48 |
| FY2016 | 11 | $9.9M | $477K | 0 | — | 11 | 194 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 36 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Cleveland County | North Carolina | United States |
|---|---|---|---|
| Approvals | 38 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 18.7 | 28.5 | 41.0 |
| Median 7(a) approval | $309K | $326K | $190K |
| Median 504 approval | — | $753K | $657K |
| Average approval | $572K | $731K | $573K |
| 504 share of approvals | 5.3% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 7.6 | 12.2 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less21.1%8
- $50,001 to $150,00013.2%5
- $150,001 to $350,00015.8%6
- $350,001 to $1 million28.9%11
- $1 million to $2 million18.4%7
- Over $2 million2.6%1
Age of the businesses
- Existing, more than 2 years old39.5%15
- New business, 2 years or less15.8%6
- Startup, loan funds will open the business21.1%8
- Change of ownership23.7%9
Questions and answers
Which lenders make the most SBA loans in Cleveland County?
By approvals in FY2021 to FY2025: Wells Fargo Bank National Association (4), Live Oak Banking Company (3), First Financial Bank (3), Bank OZK (3), Newtek Small Business Finance, Inc. (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Cleveland County?
The median 7(a) approval was $309K; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Cleveland County?
Personal Care Services (5); Poultry and Egg Production (4); Miscellaneous Durable Goods Merchant Wholesalers (4); Gasoline Stations (2); Restaurants and Other Eating Places (2).
Is SBA lending in Cleveland County rising?
Approvals in the three latest complete fiscal years total 22, against 22 in the three before: broadly level (0%).
How does Cleveland County compare with the rest of North Carolina?
18.7 approvals per 1,000 establishments against 28.5 statewide, and 38 of the state's 7,353 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