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County40th of 62 in New York by approvalsFIPS 36043
SBA loans in Herkimer County, New York
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 Herkimer County, New York, received 53 SBA loan approvals worth $17.3M in FY2021 to FY2025 (52 7(a), 1 504).
That is 47.2 approvals per 1,000 business establishments (1,124 establishments in 2023), above the New York figure of 38.1 and above the national 41.0.
It ranks 40th of 62 New York counties with approvals. In FY2025 there were 18, up 29% on FY2024.
15 lenders had approvals here; the most active were Manufacturers and Traders Trust Company (34), KeyBank National Association (3) and Live Oak Banking Company (2). The most common industry was general freight trucking.
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 Herkimer County
By number of approvals to businesses in the county, FY2021–FY2025; 15 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust CompanyBuffalo, NY | 34 | $1.2M | 64.2% | |
| 2 | KeyBank National AssociationCleveland, OH | 3 | $1.4M | 5.7% | |
| 3 | Live Oak Banking CompanyWilmington, NC | 2 | — | 3.8% | |
| 4 | Metro City BankDoraville, GA | 2 | — | 3.8% | |
| 5 | United Midwest Savings Bank National AssociationDe Graff, OH | 2 | — | 3.8% | |
| 6 | Lendstream Small Business Finance, LLCCharlotte, NC | 1 | — | 1.9% | |
| 7 | Hanover Community BankMineola, NY | 1 | — | 1.9% | |
| 8 | BayFirst National BankSaint Petersburg, FL | 1 | — | 1.9% | |
| 9 | NBT Bank, National AssociationNorwich, NY | 1 | — | 1.9% | |
| 10 | Adirondack BankUtica, NY | 1 | — | 1.9% | |
| 11 | Americu CURome, NY | 1 | — | 1.9% | |
| 12 | Empire State Certified Development CorporationLatham, NY · CDC | 1 | — | 1.9% | |
| 13 | Lendistry SBLC, LLCLos Angeles, CA | 1 | — | 1.9% | |
| 14 | The Huntington National BankColumbus, OH | 1 | — | 1.9% | |
| 15 | Beacon Bank and TrustBrookline, MA | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 11 | 20.8% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 11.3% | |
| 3 | Other Personal ServicesNAICS 8129 | 4 | 7.5% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 7.5% | |
| 5 | Traveler AccommodationNAICS 7211 | 3 | 5.7% | |
| 6 | Beer, Wine, and Liquor StoresNAICS 4453 | 2 | 3.8% | |
| 7 | Lessors of Real EstateNAICS 5311 | 2 | 3.8% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.8% | |
| 9 | Specialty Food StoresNAICS 4452 | 2 | 3.8% | |
| 10 | Personal Care ServicesNAICS 8121 | 2 | 3.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 11 | 20.8% | |
| 2 | Other Services (except Public Administration) | 11 | 20.8% | |
| 3 | Accommodation and Food Services | 9 | 17.0% | |
| 4 | Retail Trade | 9 | 17.0% | |
| 5 | Manufacturing | 2 | 3.8% | |
| 6 | Real Estate and Rental and Leasing | 2 | 3.8% | |
| 7 | Arts, Entertainment, and Recreation | 2 | 3.8% | |
| 8 | Construction | 2 | 3.8% |
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* | 11 | $5.2M | $84K | 0 | — | 11 | 79 |
| FY2025 | 18 | $3.3M | $28K | 0 | — | 18 | 90 |
| FY2024 | 14 | $5.5M | $45K | 0 | — | 14 | 63 |
| FY2023 | 10 | $4.3M | $25K | 0 | — | 10 | 71 |
| FY2022 | 4 | $2.1M | $295K | 0 | — | 4 | 24 |
| FY2021 | 6 | $1.6M | $255K | 1 | — | 7 | 9 |
| FY2020 | 6 | $1.3M | $48K | 0 | — | 6 | 11 |
| FY2019 | 4 | $991K | $183K | 0 | — | 4 | 33 |
| FY2018 | 17 | $2.1M | $25K | 0 | — | 17 | 53 |
| FY2017 | 16 | $1.7M | $50K | 0 | — | 16 | 62 |
| FY2016 | 24 | $1.2M | $33K | 0 | — | 24 | 50 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 67 approvals.
Against New York and the country
| FY2021–FY2025 | Herkimer County | New York | United States |
|---|---|---|---|
| Approvals | 53 | 20,639 | 342,825 |
| Approvals per 1,000 establishments | 47.2 | 38.1 | 41.0 |
| Median 7(a) approval | $40K | $130K | $190K |
| Median 504 approval | — | $685K | $657K |
| Average approval | $325K | $414K | $573K |
| 504 share of approvals | 1.9% | 6.1% | 11.0% |
| Jobs supported per approval, as reported | 4.8 | 8.0 | 10.5 |
| Share of state approvals | 0.3% | 100.0% | — |
Approval sizes
- $50,000 or less56.6%30
- $50,001 to $150,00013.2%7
- $150,001 to $350,0005.7%3
- $350,001 to $1 million15.1%8
- $1 million to $2 million7.5%4
- Over $2 million1.9%1
Age of the businesses
- Existing, more than 2 years old52.8%28
- New business, 2 years or less24.5%13
- Startup, loan funds will open the business9.4%5
- Change of ownership13.2%7
Questions and answers
Which lenders make the most SBA loans in Herkimer County?
By approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (34), KeyBank National Association (3), Live Oak Banking Company (2), Metro City Bank (2), United Midwest Savings Bank National Association (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Herkimer County?
The median 7(a) approval was $40K; the New York 7(a) median was $130K.
Which industries get the most SBA loans in Herkimer County?
General Freight Trucking (11); Restaurants and Other Eating Places (6); Other Personal Services (4); Automotive Repair and Maintenance (4); Traveler Accommodation (3).
Is SBA lending in Herkimer County rising?
Approvals in the three latest complete fiscal years total 42, against 17 in the three before: rising (+147%).
How does Herkimer County compare with the rest of New York?
47.2 approvals per 1,000 establishments against 38.1 statewide, and 53 of the state's 20,639 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