County8th of 88 in Ohio by approvalsFIPS 39093
SBA loans in Lorain County, Ohio
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 Lorain County, Ohio, received 560 SBA loan approvals worth $147M in FY2021 to FY2025 (542 7(a), 18 504).
That is 98.9 approvals per 1,000 business establishments (5,664 establishments in 2023), above the Ohio figure of 72.3 and above the national 41.0.
It ranks 8th of 88 Ohio counties with approvals. In FY2025 there were 104, down 13% on FY2024.
45 lenders had approvals here; the most active were The Huntington National Bank (370), Northwest Bank (38) and KeyBank National Association (25). The most common industry was services to buildings and dwellings.
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 Lorain County
By number of approvals to businesses in the county, FY2021–FY2025; 45 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 370 | $45.7M | 66.1% | |
| 2 | Northwest BankWarren, PA | 38 | $11.5M | 6.8% | |
| 3 | KeyBank National AssociationCleveland, OH | 25 | $9.7M | 4.5% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 12 | $3.4M | 2.1% | |
| 5 | Growth Capital Corp.Cleveland, OH · CDC | 11 | $9.8M | 2.0% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 8 | $1.1M | 1.4% | |
| 7 | First Federal Savings and Loan Association of LakewoodLakewood, OH | 7 | $2.4M | 1.3% | |
| 8 | PNC Bank, National AssociationWilmington, DE | 7 | $1.2M | 1.3% | |
| 9 | First Commonwealth BankIndiana, PA | 6 | $4.7M | 1.1% | |
| 10 | Growth Capital Corp.Cleveland, OH | 6 | $980K | 1.1% | |
| 11 | Fifth Third BankCincinnati, OH | 6 | $842K | 1.1% | |
| 12 | Live Oak Banking CompanyWilmington, NC | 5 | $6.4M | 0.9% | |
| 13 | Readycap Lending, LLCBerkeley Heights, NJ | 5 | $3.6M | 0.9% | |
| 14 | Newtek Bank, National AssociationMiami, FL | 5 | $941K | 0.9% | |
| 15 | Cascade Capital CorporationAkron, OH · CDC | 4 | $5.1M | 0.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Services to Buildings and DwellingsNAICS 5617 | 40 | 7.1% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 36 | 6.4% | |
| 3 | General Freight TruckingNAICS 4841 | 30 | 5.4% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 26 | 4.6% | |
| 5 | Residential Building ConstructionNAICS 2361 | 22 | 3.9% | |
| 6 | Building Finishing ContractorsNAICS 2383 | 22 | 3.9% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 22 | 3.9% | |
| 8 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 21 | 3.8% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 14 | 2.5% | |
| 10 | Personal Care ServicesNAICS 8121 | 14 | 2.5% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 122 | 21.8% | |
| 2 | Retail Trade | 59 | 10.5% | |
| 3 | Accommodation and Food Services | 57 | 10.2% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 54 | 9.6% | |
| 5 | Manufacturing | 51 | 9.1% | |
| 6 | Transportation and Warehousing | 46 | 8.2% | |
| 7 | Other Services (except Public Administration) | 41 | 7.3% | |
| 8 | Professional, Scientific, and Technical Services | 38 | 6.8% |
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* | 31 | $12.7M | $100K | 1 | — | 32 | 320 |
| FY2025 | 100 | $24.8M | $100K | 4 | $5.0M | 104 | 626 |
| FY2024 | 119 | $21.2M | $70K | 1 | — | 120 | 592 |
| FY2023 | 121 | $24.8M | $66K | 1 | — | 122 | 665 |
| FY2022 | 112 | $36.4M | $63K | 7 | $5.3M | 119 | 943 |
| FY2021 | 90 | $22.6M | $95K | 5 | $4.0M | 95 | 849 |
| FY2020 | 68 | $15.7M | $93K | 4 | $2.5M | 72 | 502 |
| FY2019 | 69 | $25.7M | $85K | 7 | $3.6M | 76 | 605 |
| FY2018 | 76 | $22.3M | $50K | 1 | — | 77 | 538 |
| FY2017 | 93 | $21.9M | $63K | 5 | $2.9M | 98 | 1,016 |
| FY2016 | 90 | $16.9M | $50K | 4 | $1.4M | 94 | 689 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 417 approvals.
Against Ohio and the country
| FY2021–FY2025 | Lorain County | Ohio | United States |
|---|---|---|---|
| Approvals | 560 | 18,439 | 342,825 |
| Approvals per 1,000 establishments | 98.9 | 72.3 | 41.0 |
| Median 7(a) approval | $79K | $99K | $190K |
| Median 504 approval | $765K | $496K | $657K |
| Average approval | $263K | $336K | $573K |
| 504 share of approvals | 3.2% | 4.3% | 11.0% |
| Jobs supported per approval, as reported | 6.6 | 8.1 | 10.5 |
| Share of state approvals | 3.0% | 100.0% | — |
Approval sizes
- $50,000 or less40.9%229
- $50,001 to $150,00029.1%163
- $150,001 to $350,00013.4%75
- $350,001 to $1 million10.9%61
- $1 million to $2 million3.2%18
- Over $2 million2.5%14
Age of the businesses
- Existing, more than 2 years old63.4%355
- New business, 2 years or less15.4%86
- Startup, loan funds will open the business15.7%88
- Change of ownership5.5%31
Questions and answers
Which lenders make the most SBA loans in Lorain County?
By approvals in FY2021 to FY2025: The Huntington National Bank (370), Northwest Bank (38), KeyBank National Association (25), U.S. Bank, National Association (12), Growth Capital Corp. (11). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Lorain County?
The median 7(a) approval was $79K and the median 504 approval $765K; the Ohio 7(a) median was $99K.
Which industries get the most SBA loans in Lorain County?
Services to Buildings and Dwellings (40); Restaurants and Other Eating Places (36); General Freight Trucking (30); Other Specialty Trade Contractors (26); Residential Building Construction (22).
Is SBA lending in Lorain County rising?
Approvals in the three latest complete fiscal years total 346, against 286 in the three before: rising (+21%).
How does Lorain County compare with the rest of Ohio?
98.9 approvals per 1,000 establishments against 72.3 statewide, and 560 of the state's 18,439 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