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County28th of 99 in North Carolina by approvalsFIPS 37055
SBA loans in Dare 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 54 loans to businesses in Dare County, North Carolina, in FY2021 to FY2025, worth $47.4M: 40 under 7(a) and 14 under 504.
That is 26.0 approvals per 1,000 business establishments (2,079 establishments in 2023), close to the North Carolina figure of 28.5 and below the national 41.0.
It ranks 28th of 99 North Carolina counties with approvals. In FY2025 there were 10, down 29% on FY2024.
20 lenders had approvals here; the most active were 504 Capital Corporation (10), TowneBank (7) and First Bank (5). 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 Dare County
By number of approvals to businesses in the county, FY2021–FY2025; 20 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | 504 Capital CorporationChesapeake, VA · CDC | 10 | $5.3M | 18.5% | |
| 2 | TowneBankPortsmouth, VA | 7 | $6.2M | 13.0% | |
| 3 | First BankSouthern Pines, NC | 5 | $5.4M | 9.3% | |
| 4 | Business Expansion Funding CorporationCharlotte, NC · CDC | 4 | $7.2M | 7.4% | |
| 5 | Live Oak Banking CompanyWilmington, NC | 3 | $6.4M | 5.6% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 3 | $865K | 5.6% | |
| 7 | PNC Bank, National AssociationWilmington, DE | 3 | $720K | 5.6% | |
| 8 | Northeast BankLewiston, ME | 3 | $600K | 5.6% | |
| 9 | Readycap Lending, LLCBerkeley Heights, NJ | 3 | $389K | 5.6% | |
| 10 | Atlantic Union BankRichmond, VA | 2 | — | 3.7% | |
| 11 | Meridian BankMalvern, PA | 2 | — | 3.7% | |
| 12 | Woori America BankNew York, NY | 1 | — | 1.9% | |
| 13 | Beacon Bank and TrustBrookline, MA | 1 | — | 1.9% | |
| 14 | Byline BankChicago, IL | 1 | — | 1.9% | |
| 15 | Wells Fargo Bank National AssociationSioux Falls, SD | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 17 | 31.5% | |
| 2 | Traveler AccommodationNAICS 7211 | 5 | 9.3% | |
| 3 | Furniture and Home Furnishings RetailersNAICS 4491 | 4 | 7.4% | |
| 4 | Beverage ManufacturingNAICS 3121 | 3 | 5.6% | |
| 5 | Nonresidential Building ConstructionNAICS 2362 | 3 | 5.6% | |
| 6 | Other Personal ServicesNAICS 8129 | 2 | 3.7% | |
| 7 | Sporting Goods, Hobby, and Musical Instrument StoresNAICS 4511 | 2 | 3.7% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.7% | |
| 9 | Residential Building ConstructionNAICS 2361 | 2 | 3.7% | |
| 10 | Offices of DentistsNAICS 6212 | 2 | 3.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 23 | 42.6% | |
| 2 | Retail Trade | 7 | 13.0% | |
| 3 | Construction | 6 | 11.1% | |
| 4 | Manufacturing | 4 | 7.4% | |
| 5 | Real Estate and Rental and Leasing | 3 | 5.6% | |
| 6 | Health Care and Social Assistance | 3 | 5.6% | |
| 7 | Other Services (except Public Administration) | 2 | 3.7% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 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 | $3.8M | $175K | 1 | — | 11 | 58 |
| FY2025 | 9 | $8.5M | $215K | 1 | — | 10 | 97 |
| FY2024 | 13 | $3.2M | $150K | 1 | — | 14 | 129 |
| FY2023 | 8 | $13.3M | $1.2M | 2 | — | 10 | 200 |
| FY2022 | 6 | $7.5M | $1.2M | 5 | $4.1M | 11 | 265 |
| FY2021 | 4 | $2.3M | $240K | 5 | $2.0M | 9 | 95 |
| FY2020 | 7 | $5.5M | $97K | 5 | $2.9M | 12 | 66 |
| FY2019 | 6 | $5.6M | $750K | 2 | — | 8 | 89 |
| FY2018 | 9 | $3.0M | $100K | 1 | — | 10 | 61 |
| FY2017 | 13 | $2.0M | $100K | 1 | — | 14 | 74 |
| FY2016 | 12 | $1.1M | $40K | 5 | $1.3M | 17 | 67 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 61 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Dare County | North Carolina | United States |
|---|---|---|---|
| Approvals | 54 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 26.0 | 28.5 | 41.0 |
| Median 7(a) approval | $499K | $326K | $190K |
| Median 504 approval | $486K | $753K | $657K |
| Average approval | $877K | $731K | $573K |
| 504 share of approvals | 25.9% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 14.6 | 12.2 | 10.5 |
| Share of state approvals | 0.7% | 100.0% | — |
Approval sizes
- $50,000 or less14.8%8
- $50,001 to $150,0009.3%5
- $150,001 to $350,00020.4%11
- $350,001 to $1 million24.1%13
- $1 million to $2 million22.2%12
- Over $2 million9.3%5
Age of the businesses
- Existing, more than 2 years old55.6%30
- New business, 2 years or less13.0%7
- Startup, loan funds will open the business7.4%4
- Change of ownership24.1%13
Questions and answers
Which lenders make the most SBA loans in Dare County?
By approvals in FY2021 to FY2025: 504 Capital Corporation (10), TowneBank (7), First Bank (5), Business Expansion Funding Corporation (4), Live Oak Banking Company (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Dare County?
The median 7(a) approval was $499K and the median 504 approval $486K; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Dare County?
Restaurants and Other Eating Places (17); Traveler Accommodation (5); Furniture and Home Furnishings Retailers (4); Beverage Manufacturing (3); Nonresidential Building Construction (3).
Is SBA lending in Dare County rising?
Approvals in the three latest complete fiscal years total 34, against 32 in the three before: broadly level (+6%).
How does Dare County compare with the rest of North Carolina?
26.0 approvals per 1,000 establishments against 28.5 statewide, and 54 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