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County8th of 99 in North Carolina by approvalsFIPS 37067
SBA loans in Forsyth 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.
Businesses in Forsyth County, North Carolina, received 209 SBA loan approvals worth $166M in FY2021 to FY2025 (195 7(a), 14 504).
That is 22.9 approvals per 1,000 business establishments (9,141 establishments in 2023), below the North Carolina figure of 28.5 and below the national 41.0.
It ranks 8th of 99 North Carolina counties with approvals. In FY2025 there were 64, up 25% on FY2024.
53 lenders had approvals here; the most active were Live Oak Banking Company (17), Wells Fargo Bank National Association (15) and Pinnacle Bank (14). The most common industry was traveler accommodation.
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 Forsyth County
By number of approvals to businesses in the county, FY2021–FY2025; 53 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking CompanyWilmington, NC | 17 | $22.8M | 8.1% | |
| 2 | Wells Fargo Bank National AssociationSioux Falls, SD | 15 | $1.9M | 7.2% | |
| 3 | Pinnacle BankNashville, TN | 14 | $13.6M | 6.7% | |
| 4 | Northeast BankLewiston, ME | 14 | $1.5M | 6.7% | |
| 5 | The Huntington National BankColumbus, OH | 12 | $8.6M | 5.7% | |
| 6 | United Midwest Savings Bank National AssociationDe Graff, OH | 12 | $2.6M | 5.7% | |
| 7 | Newtek Bank, National AssociationMiami, FL | 10 | $3.4M | 4.8% | |
| 8 | Business Expansion Funding CorporationCharlotte, NC · CDC | 9 | $13.2M | 4.3% | |
| 9 | Bank of Oak RidgeOak Ridge, NC | 8 | $12.4M | 3.8% | |
| 10 | Readycap Lending, LLCBerkeley Heights, NJ | 8 | $3.0M | 3.8% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 8 | $944K | 3.8% | |
| 12 | GBankLas Vegas, NV | 6 | $17.4M | 2.9% | |
| 13 | First BankSouthern Pines, NC | 4 | $3.9M | 1.9% | |
| 14 | First National Bank of PennsylvaniaGreenville, PA | 4 | $3.5M | 1.9% | |
| 15 | The Fidelity BankFuquay Varina, NC | 4 | $2.7M | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Traveler AccommodationNAICS 7211 | 12 | 5.7% | |
| 2 | Residential Building ConstructionNAICS 2361 | 12 | 5.7% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 5.3% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 11 | 5.3% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 11 | 5.3% | |
| 6 | Services to Buildings and DwellingsNAICS 5617 | 9 | 4.3% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 9 | 4.3% | |
| 8 | General Freight TruckingNAICS 4841 | 8 | 3.8% | |
| 9 | Other Personal ServicesNAICS 8129 | 7 | 3.3% | |
| 10 | Other Specialty Trade ContractorsNAICS 2389 | 5 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 26 | 12.4% | |
| 2 | Construction | 26 | 12.4% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 24 | 11.5% | |
| 4 | Other Services (except Public Administration) | 24 | 11.5% | |
| 5 | Professional, Scientific, and Technical Services | 21 | 10.0% | |
| 6 | Retail Trade | 20 | 9.6% | |
| 7 | Health Care and Social Assistance | 19 | 9.1% | |
| 8 | Transportation and Warehousing | 15 | 7.2% |
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* | 31 | $26.4M | $211K | 4 | $1.4M | 35 | 1,217 |
| FY2025 | 64 | $38.0M | $261K | 0 | — | 64 | 402 |
| FY2024 | 49 | $30.8M | $350K | 2 | — | 51 | 519 |
| FY2023 | 30 | $27.3M | $175K | 4 | $5.5M | 34 | 245 |
| FY2022 | 28 | $16.8M | $265K | 2 | — | 30 | 494 |
| FY2021 | 24 | $35.2M | $879K | 6 | $4.9M | 30 | 648 |
| FY2020 | 31 | $30.6M | $535K | 0 | — | 31 | 575 |
| FY2019 | 22 | $8.7M | $290K | 1 | — | 23 | 210 |
| FY2018 | 34 | $17.3M | $192K | 1 | — | 35 | 268 |
| FY2017 | 38 | $25.7M | $297K | 3 | $2.0M | 41 | 368 |
| FY2016 | 26 | $14.8M | $215K | 3 | $2.6M | 29 | 562 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 159 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Forsyth County | North Carolina | United States |
|---|---|---|---|
| Approvals | 209 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 22.9 | 28.5 | 41.0 |
| Median 7(a) approval | $278K | $326K | $190K |
| Median 504 approval | $1.2M | $753K | $657K |
| Average approval | $794K | $731K | $573K |
| 504 share of approvals | 6.7% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 11.0 | 12.2 | 10.5 |
| Share of state approvals | 2.8% | 100.0% | — |
Approval sizes
- $50,000 or less15.8%33
- $50,001 to $150,00017.2%36
- $150,001 to $350,00019.6%41
- $350,001 to $1 million22.5%47
- $1 million to $2 million13.9%29
- Over $2 million11.0%23
Age of the businesses
- Existing, more than 2 years old41.1%86
- New business, 2 years or less19.6%41
- Startup, loan funds will open the business25.4%53
- Change of ownership13.9%29
Questions and answers
Which lenders make the most SBA loans in Forsyth County?
By approvals in FY2021 to FY2025: Live Oak Banking Company (17), Wells Fargo Bank National Association (15), Pinnacle Bank (14), Northeast Bank (14), The Huntington National Bank (12). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Forsyth County?
The median 7(a) approval was $278K and the median 504 approval $1.2M; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Forsyth County?
Traveler Accommodation (12); Residential Building Construction (12); Restaurants and Other Eating Places (11); Automotive Repair and Maintenance (11); Other Amusement and Recreation Industries (11).
Is SBA lending in Forsyth County rising?
Approvals in the three latest complete fiscal years total 149, against 91 in the three before: rising (+64%).
How does Forsyth County compare with the rest of North Carolina?
22.9 approvals per 1,000 establishments against 28.5 statewide, and 209 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