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County7th of 99 in North Carolina by approvalsFIPS 37179
SBA loans in Union 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 Union County, North Carolina, received 255 SBA loan approvals worth $147M in FY2021 to FY2025 (240 7(a), 15 504).
That is 44.5 approvals per 1,000 business establishments (5,732 establishments in 2023), above the North Carolina figure of 28.5 and close to the national 41.0.
It ranks 7th of 99 North Carolina counties with approvals. In FY2025 there were 80, up 36% on FY2024.
60 lenders had approvals here; the most active were The Huntington National Bank (19), Wells Fargo Bank National Association (19) and Pinnacle Bank (15). 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 Union County
By number of approvals to businesses in the county, FY2021–FY2025; 60 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 19 | $10.6M | 7.5% | |
| 2 | Wells Fargo Bank National AssociationSioux Falls, SD | 19 | $1.3M | 7.5% | |
| 3 | Pinnacle BankNashville, TN | 15 | $13.5M | 5.9% | |
| 4 | TD Bank, National AssociationWilmington, DE | 15 | $4.1M | 5.9% | |
| 5 | BayFirst National BankSaint Petersburg, FL | 14 | $2.2M | 5.5% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 13 | $7.4M | 5.1% | |
| 7 | United Midwest Savings Bank National AssociationDe Graff, OH | 12 | $3.0M | 4.7% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 11 | $15.6M | 4.3% | |
| 9 | Business Expansion Funding CorporationCharlotte, NC · CDC | 10 | $10.6M | 3.9% | |
| 10 | Readycap Lending, LLCBerkeley Heights, NJ | 10 | $3.8M | 3.9% | |
| 11 | Northeast BankLewiston, ME | 10 | $1.7M | 3.9% | |
| 12 | Bank of America, National AssociationCharlotte, NC | 9 | $3.7M | 3.5% | |
| 13 | HomeTrust BankAsheville, NC | 7 | $4.7M | 2.7% | |
| 14 | SouthState Bank, National AssociationWinter Haven, FL | 7 | $4.1M | 2.7% | |
| 15 | First-Citizens Bank & Trust CompanyRaleigh, NC | 6 | $5.4M | 2.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 6.3% | |
| 2 | General Freight TruckingNAICS 4841 | 15 | 5.9% | |
| 3 | Building Equipment ContractorsNAICS 2382 | 14 | 5.5% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 9 | 3.5% | |
| 5 | Child Day Care ServicesNAICS 6244 | 8 | 3.1% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 8 | 3.1% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 3.1% | |
| 8 | Offices of PhysiciansNAICS 6211 | 8 | 3.1% | |
| 9 | Residential Building ConstructionNAICS 2361 | 8 | 3.1% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 8 | 3.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 42 | 16.5% | |
| 2 | Professional, Scientific, and Technical Services | 29 | 11.4% | |
| 3 | Health Care and Social Assistance | 28 | 11.0% | |
| 4 | Manufacturing | 24 | 9.4% | |
| 5 | Retail Trade | 24 | 9.4% | |
| 6 | Accommodation and Food Services | 21 | 8.2% | |
| 7 | Other Services (except Public Administration) | 20 | 7.8% | |
| 8 | Transportation and Warehousing | 18 | 7.1% |
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* | 25 | $10.5M | $230K | 0 | — | 25 | 193 |
| FY2025 | 75 | $40.4M | $225K | 5 | $9.9M | 80 | 725 |
| FY2024 | 57 | $27.2M | $250K | 2 | — | 59 | 364 |
| FY2023 | 40 | $15.0M | $196K | 4 | $3.7M | 44 | 456 |
| FY2022 | 26 | $18.3M | $363K | 1 | — | 27 | 238 |
| FY2021 | 42 | $30.3M | $275K | 3 | $1.2M | 45 | 507 |
| FY2020 | 24 | $17.9M | $283K | 3 | $2.1M | 27 | 247 |
| FY2019 | 32 | $21.9M | $328K | 6 | $3.7M | 38 | 368 |
| FY2018 | 35 | $17.1M | $270K | 0 | — | 35 | 214 |
| FY2017 | 35 | $16.2M | $249K | 1 | — | 36 | 288 |
| FY2016 | 42 | $32.6M | $358K | 6 | $6.3M | 48 | 632 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 184 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Union County | North Carolina | United States |
|---|---|---|---|
| Approvals | 255 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 44.5 | 28.5 | 41.0 |
| Median 7(a) approval | $250K | $326K | $190K |
| Median 504 approval | $561K | $753K | $657K |
| Average approval | $578K | $731K | $573K |
| 504 share of approvals | 5.9% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 9.0 | 12.2 | 10.5 |
| Share of state approvals | 3.5% | 100.0% | — |
Approval sizes
- $50,000 or less16.5%42
- $50,001 to $150,00021.2%54
- $150,001 to $350,00023.1%59
- $350,001 to $1 million22.7%58
- $1 million to $2 million9.8%25
- Over $2 million6.7%17
Age of the businesses
- Existing, more than 2 years old50.2%128
- New business, 2 years or less21.2%54
- Startup, loan funds will open the business17.3%44
- Change of ownership11.4%29
Questions and answers
Which lenders make the most SBA loans in Union County?
By approvals in FY2021 to FY2025: The Huntington National Bank (19), Wells Fargo Bank National Association (19), Pinnacle Bank (15), TD Bank, National Association (15), BayFirst National Bank (14). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Union County?
The median 7(a) approval was $250K and the median 504 approval $561K; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Union County?
Restaurants and Other Eating Places (16); General Freight Trucking (15); Building Equipment Contractors (14); Services to Buildings and Dwellings (9); Child Day Care Services (8).
Is SBA lending in Union County rising?
Approvals in the three latest complete fiscal years total 183, against 99 in the three before: rising (+85%).
How does Union County compare with the rest of North Carolina?
44.5 approvals per 1,000 establishments against 28.5 statewide, and 255 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