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County2nd of 99 in North Carolina by approvalsFIPS 37183
SBA loans in Wake 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 1,170 loans to businesses in Wake County, North Carolina, in FY2021 to FY2025, worth $739M: 1,110 under 7(a) and 60 under 504.
That is 34.5 approvals per 1,000 business establishments (33,873 establishments in 2023), above the North Carolina figure of 28.5 and below the national 41.0.
It ranks 2nd of 99 North Carolina counties with approvals. In FY2025 there were 324, up 16% on FY2024.
115 lenders had approvals here; the most active were The Huntington National Bank (136), Wells Fargo Bank National Association (67) and Live Oak Banking Company (64). 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 Wake County
By number of approvals to businesses in the county, FY2021–FY2025; 115 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 136 | $43.4M | 11.6% | |
| 2 | Wells Fargo Bank National AssociationSioux Falls, SD | 67 | $17.3M | 5.7% | |
| 3 | Live Oak Banking CompanyWilmington, NC | 64 | $65.0M | 5.5% | |
| 4 | TowneBankPortsmouth, VA | 56 | $53.2M | 4.8% | |
| 5 | Northeast BankLewiston, ME | 56 | $7.1M | 4.8% | |
| 6 | Business Expansion Funding CorporationCharlotte, NC · CDC | 49 | $58.1M | 4.2% | |
| 7 | United Midwest Savings Bank National AssociationDe Graff, OH | 39 | $6.2M | 3.3% | |
| 8 | Newtek Bank, National AssociationMiami, FL | 38 | $16.3M | 3.2% | |
| 9 | Readycap Lending, LLCBerkeley Heights, NJ | 35 | $8.0M | 3.0% | |
| 10 | The Fidelity BankFuquay Varina, NC | 33 | $32.4M | 2.8% | |
| 11 | First National Bank of PennsylvaniaGreenville, PA | 32 | $34.0M | 2.7% | |
| 12 | Bank of Oak RidgeOak Ridge, NC | 30 | $20.6M | 2.6% | |
| 13 | BayFirst National BankSaint Petersburg, FL | 28 | $3.8M | 2.4% | |
| 14 | North State BankRaleigh, NC | 27 | $21.4M | 2.3% | |
| 15 | Citizens BankElizabethton, TN | 24 | $21.8M | 2.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 152 | 13.0% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 65 | 5.6% | |
| 3 | Personal Care ServicesNAICS 8121 | 61 | 5.2% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 49 | 4.2% | |
| 5 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 35 | 3.0% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 34 | 2.9% | |
| 7 | Other Personal ServicesNAICS 8129 | 34 | 2.9% | |
| 8 | Child Day Care ServicesNAICS 6244 | 30 | 2.6% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 30 | 2.6% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 30 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 184 | 15.7% | |
| 2 | Other Services (except Public Administration) | 136 | 11.6% | |
| 3 | Professional, Scientific, and Technical Services | 131 | 11.2% | |
| 4 | Construction | 118 | 10.1% | |
| 5 | Health Care and Social Assistance | 115 | 9.8% | |
| 6 | Retail Trade | 108 | 9.2% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 89 | 7.6% | |
| 8 | Arts, Entertainment, and Recreation | 77 | 6.6% |
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* | 168 | $131M | $350K | 5 | $7.0M | 173 | 1,861 |
| FY2025 | 314 | $179M | $254K | 10 | $10.6M | 324 | 3,761 |
| FY2024 | 266 | $141M | $278K | 13 | $26.2M | 279 | 3,451 |
| FY2023 | 210 | $110M | $267K | 9 | $9.1M | 219 | 2,598 |
| FY2022 | 147 | $91.0M | $349K | 15 | $18.1M | 162 | 2,471 |
| FY2021 | 173 | $141M | $425K | 13 | $12.8M | 186 | 2,714 |
| FY2020 | 150 | $108M | $350K | 14 | $13.8M | 164 | 2,389 |
| FY2019 | 191 | $94.1M | $200K | 8 | $7.8M | 199 | 2,364 |
| FY2018 | 193 | $113M | $205K | 11 | $8.4M | 204 | 2,859 |
| FY2017 | 213 | $109M | $218K | 22 | $16.8M | 235 | 3,296 |
| FY2016 | 176 | $88.6M | $200K | 11 | $4.9M | 187 | 2,098 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 989 approvals.
Against North Carolina and the country
| FY2021–FY2025 | Wake County | North Carolina | United States |
|---|---|---|---|
| Approvals | 1,170 | 7,353 | 342,825 |
| Approvals per 1,000 establishments | 34.5 | 28.5 | 41.0 |
| Median 7(a) approval | $300K | $326K | $190K |
| Median 504 approval | $995K | $753K | $657K |
| Average approval | $632K | $731K | $573K |
| 504 share of approvals | 5.1% | 6.4% | 11.0% |
| Jobs supported per approval, as reported | 12.8 | 12.2 | 10.5 |
| Share of state approvals | 15.9% | 100.0% | — |
Approval sizes
- $50,000 or less15.6%183
- $50,001 to $150,00019.3%226
- $150,001 to $350,00021.0%246
- $350,001 to $1 million26.4%309
- $1 million to $2 million10.3%121
- Over $2 million7.3%85
Age of the businesses
- Existing, more than 2 years old41.0%480
- New business, 2 years or less17.6%206
- Startup, loan funds will open the business29.2%342
- Change of ownership11.9%139
- Not answered0.3%3
Questions and answers
Which lenders make the most SBA loans in Wake County?
By approvals in FY2021 to FY2025: The Huntington National Bank (136), Wells Fargo Bank National Association (67), Live Oak Banking Company (64), TowneBank (56), Northeast Bank (56). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Wake County?
The median 7(a) approval was $300K and the median 504 approval $995K; the North Carolina 7(a) median was $326K.
Which industries get the most SBA loans in Wake County?
Restaurants and Other Eating Places (152); Other Amusement and Recreation Industries (65); Personal Care Services (61); Services to Buildings and Dwellings (49); Management, Scientific, and Technical Consulting Services (35).
Is SBA lending in Wake County rising?
Approvals in the three latest complete fiscal years total 822, against 512 in the three before: rising (+61%).
How does Wake County compare with the rest of North Carolina?
34.5 approvals per 1,000 establishments against 28.5 statewide, and 1,170 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