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County41st of 99 in North Carolina by approvalsFIPS 37069
SBA loans in Franklin 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 Franklin County, North Carolina, received 38 SBA loan approvals worth $17.6M in FY2021 to FY2025 (37 7(a), 1 504).
That is 30.9 approvals per 1,000 business establishments (1,228 establishments in 2023), close to the North Carolina figure of 28.5 and below the national 41.0.
It ranks 41st of 99 North Carolina counties with approvals. In FY2025 there were 16.
24 lenders had approvals here; the most active were SouthState Bank, National Association (4), Northeast Bank (4) and Newtek Bank, National Association (3). The most common industry was other amusement and recreation industries.
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 Franklin County
By number of approvals to businesses in the county, FY2021–FY2025; 24 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | SouthState Bank, National AssociationWinter Haven, FL | 4 | $1.2M | 10.5% | |
| 2 | Northeast BankLewiston, ME | 4 | $1.1M | 10.5% | |
| 3 | Newtek Bank, National AssociationMiami, FL | 3 | $2.1M | 7.9% | |
| 4 | The Fidelity BankFuquay Varina, NC | 3 | $1.4M | 7.9% | |
| 5 | Citizens BankElizabethton, TN | 2 | — | 5.3% | |
| 6 | Harvest Small Business Finance, LLCLaguna Hills, CA | 2 | — | 5.3% | |
| 7 | BayFirst National BankSaint Petersburg, FL | 2 | — | 5.3% | |
| 8 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 5.3% | |
| 9 | Gulf Coast Bank and Trust CompanyNew Orleans, LA | 1 | — | 2.6% | |
| 10 | Port 51 Lending LLCNew York, NY | 1 | — | 2.6% | |
| 11 | Truist BankCharlotte, NC | 1 | — | 2.6% | |
| 12 | Business Expansion Funding CorporationCharlotte, NC · CDC | 1 | — | 2.6% | |
| 13 | North State BankRaleigh, NC | 1 | — | 2.6% | |
| 14 | 22nd State Bank, A Division of 22nd State Banking CompanyMobile, AL | 1 | — | 2.6% | |
| 15 | Capital Bank, National AssociationRockville, MD | 1 | — | 2.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 10.5% | |
| 2 | Residential Building ConstructionNAICS 2361 | 3 | 7.9% | |
| 3 | Building Equipment ContractorsNAICS 2382 | 2 | 5.3% | |
| 4 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 5.3% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 2 | 5.3% | |
| 6 | Legal ServicesNAICS 5411 | 2 | 5.3% | |
| 7 | Other Schools and InstructionNAICS 6116 | 2 | 5.3% | |
| 8 | Special Food ServicesNAICS 7223 | 2 | 5.3% | |
| 9 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 1 | 2.6% | |
| 10 | Automobile DealersNAICS 4411 | 1 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 9 | 23.7% | |
| 2 | Arts, Entertainment, and Recreation | 5 | 13.2% | |
| 3 | Professional, Scientific, and Technical Services | 4 | 10.5% | |
| 4 | Manufacturing | 3 | 7.9% | |
| 5 | Health Care and Social Assistance | 3 | 7.9% | |
| 6 | Accommodation and Food Services | 3 | 7.9% | |
| 7 | Other Services (except Public Administration) | 2 | 5.3% | |
| 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* | 6 | $1.9M | $350K | 0 | — | 6 | 21 |
| FY2025 | 15 | $10.3M | $350K | 1 | — | 16 | 328 |
| FY2024 | 7 | $1.6M | $200K | 0 | — | 7 | 12 |
| FY2023 | 4 | $1.1M | $224K | 0 | — | 4 | 10 |
| FY2022 | 3 | $599K | $79K | 0 | — | 3 | 9 |
| FY2021 | 8 | $3.2M | $450K | 0 | — | 8 | 83 |
| FY2020 | 6 | $1.3M | $149K | 0 | — | 6 | 26 |
| FY2019 | 2 | — | — | 0 | — | 2 | 13 |
| FY2018 | 7 | $560K | $50K | 0 | — | 7 | 19 |
| FY2017 | 8 | $6.4M | $911K | 0 | — | 8 | 44 |
| FY2016 | 5 | $2.5M | $125K | 2 | — | 7 | 51 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 30 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Franklin County | North Carolina | United States |
|---|---|---|---|
| Approvals | 38 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 30.9 | 28.5 | 41.0 |
| Median 7(a) approval | $250K | $326K | $190K |
| Median 504 approval | — | $753K | $657K |
| Average approval | $463K | $731K | $573K |
| 504 share of approvals | 2.6% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 11.6 | 12.2 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less7.9%3
- $50,001 to $150,00023.7%9
- $150,001 to $350,00026.3%10
- $350,001 to $1 million34.2%13
- $1 million to $2 million5.3%2
- Over $2 million2.6%1
Age of the businesses
- Existing, more than 2 years old68.4%26
- New business, 2 years or less10.5%4
- Startup, loan funds will open the business10.5%4
- Change of ownership10.5%4
Questions and answers
Which lenders make the most SBA loans in Franklin County?
By approvals in FY2021 to FY2025: SouthState Bank, National Association (4), Northeast Bank (4), Newtek Bank, National Association (3), The Fidelity Bank (3), Citizens Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Franklin County?
The median 7(a) approval was $250K; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Franklin County?
Other Amusement and Recreation Industries (4); Residential Building Construction (3); Building Equipment Contractors (2); Foundation, Structure, and Building Exterior Contractors (2); Offices of Other Health Practitioners (2).
Is SBA lending in Franklin County rising?
Approvals in the three latest complete fiscal years total 27, against 17 in the three before: rising (+59%).
How does Franklin County compare with the rest of North Carolina?
30.9 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