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County11th of 99 in North Carolina by approvalsFIPS 37071
SBA loans in Gaston 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 145 loans to businesses in Gaston County, North Carolina, in FY2021 to FY2025, worth $101M: 137 under 7(a) and 8 under 504.
That is 31.6 approvals per 1,000 business establishments (4,594 establishments in 2023), close to the North Carolina figure of 28.5 and below the national 41.0.
It ranks 11th of 99 North Carolina counties with approvals. In FY2025 there were 38, up 73% on FY2024.
51 lenders had approvals here; the most active were Wells Fargo Bank National Association (12), Live Oak Banking Company (10) and Readycap Lending, LLC (9). 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 Gaston County
By number of approvals to businesses in the county, FY2021–FY2025; 51 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National AssociationSioux Falls, SD | 12 | $203K | 8.3% | |
| 2 | Live Oak Banking CompanyWilmington, NC | 10 | $18.5M | 6.9% | |
| 3 | Readycap Lending, LLCBerkeley Heights, NJ | 9 | $5.1M | 6.2% | |
| 4 | SouthState Bank, National AssociationWinter Haven, FL | 8 | $4.0M | 5.5% | |
| 5 | The Huntington National BankColumbus, OH | 7 | $2.4M | 4.8% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 7 | $2.1M | 4.8% | |
| 7 | Truliant FCUWinston-Salem, NC | 5 | $9.5M | 3.4% | |
| 8 | Business Expansion Funding CorporationCharlotte, NC · CDC | 5 | $4.5M | 3.4% | |
| 9 | Pinnacle BankNashville, TN | 5 | $4.4M | 3.4% | |
| 10 | TD Bank, National AssociationWilmington, DE | 4 | $1.7M | 2.8% | |
| 11 | United Midwest Savings Bank National AssociationDe Graff, OH | 4 | $670K | 2.8% | |
| 12 | Northeast BankLewiston, ME | 4 | $499K | 2.8% | |
| 13 | HomeTrust BankAsheville, NC | 3 | $4.5M | 2.1% | |
| 14 | Carolina Business Capital, Inc.Charlotte, NC · CDC | 3 | $4.4M | 2.1% | |
| 15 | The Fidelity BankFuquay Varina, NC | 3 | $2.6M | 2.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 7.6% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 4.8% | |
| 3 | Traveler AccommodationNAICS 7211 | 6 | 4.1% | |
| 4 | Child Day Care ServicesNAICS 6244 | 6 | 4.1% | |
| 5 | Death Care ServicesNAICS 8122 | 6 | 4.1% | |
| 6 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 6 | 4.1% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 6 | 4.1% | |
| 8 | Advertising, Public Relations, and Related ServicesNAICS 5418 | 4 | 2.8% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 2.8% | |
| 10 | Offices of Other Health PractitionersNAICS 6213 | 4 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 18 | 12.4% | |
| 2 | Health Care and Social Assistance | 18 | 12.4% | |
| 3 | Other Services (except Public Administration) | 18 | 12.4% | |
| 4 | Manufacturing | 16 | 11.0% | |
| 5 | Professional, Scientific, and Technical Services | 16 | 11.0% | |
| 6 | Retail Trade | 16 | 11.0% | |
| 7 | Construction | 13 | 9.0% | |
| 8 | Wholesale Trade | 8 | 5.5% |
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* | 18 | $14.9M | $306K | 1 | — | 19 | 219 |
| FY2025 | 37 | $23.0M | $241K | 1 | — | 38 | 289 |
| FY2024 | 21 | $15.6M | $150K | 1 | — | 22 | 325 |
| FY2023 | 30 | $14.8M | $225K | 2 | — | 32 | 314 |
| FY2022 | 23 | $17.3M | $442K | 3 | $2.9M | 26 | 289 |
| FY2021 | 26 | $21.7M | $336K | 1 | — | 27 | 305 |
| FY2020 | 13 | $12.9M | $606K | 1 | — | 14 | 218 |
| FY2019 | 18 | $5.0M | $150K | 5 | $6.0M | 23 | 206 |
| FY2018 | 22 | $14.0M | $125K | 2 | — | 24 | 159 |
| FY2017 | 18 | $8.6M | $150K | 3 | $2.7M | 21 | 135 |
| FY2016 | 12 | $10.0M | $733K | 4 | $2.2M | 16 | 214 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 98 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Gaston County | North Carolina | United States |
|---|---|---|---|
| Approvals | 145 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 31.6 | 28.5 | 41.0 |
| Median 7(a) approval | $293K | $326K | $190K |
| Median 504 approval | $1.2M | $753K | $657K |
| Average approval | $699K | $731K | $573K |
| 504 share of approvals | 5.5% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 10.5 | 12.2 | 10.5 |
| Share of state approvals | 2.0% | 100.0% | — |
Approval sizes
- $50,000 or less17.2%25
- $50,001 to $150,00020.0%29
- $150,001 to $350,00017.2%25
- $350,001 to $1 million21.4%31
- $1 million to $2 million16.6%24
- Over $2 million7.6%11
Age of the businesses
- Existing, more than 2 years old48.3%70
- New business, 2 years or less20.7%30
- Startup, loan funds will open the business19.3%28
- Change of ownership11.7%17
Questions and answers
Which lenders make the most SBA loans in Gaston County?
By approvals in FY2021 to FY2025: Wells Fargo Bank National Association (12), Live Oak Banking Company (10), Readycap Lending, LLC (9), SouthState Bank, National Association (8), The Huntington National Bank (7). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Gaston County?
The median 7(a) approval was $293K and the median 504 approval $1.2M; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Gaston County?
Restaurants and Other Eating Places (11); Automotive Repair and Maintenance (7); Traveler Accommodation (6); Child Day Care Services (6); Death Care Services (6).
Is SBA lending in Gaston County rising?
Approvals in the three latest complete fiscal years total 92, against 67 in the three before: rising (+37%).
How does Gaston County compare with the rest of North Carolina?
31.6 approvals per 1,000 establishments against 28.5 statewide, and 145 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