States › South Carolina › Florence County
County15th of 46 in South Carolina by approvalsFIPS 45041
SBA loans in Florence County, South 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 Florence County, South Carolina, received 58 SBA loan approvals worth $48.2M in FY2021 to FY2025 (54 7(a), 4 504).
That is 17.7 approvals per 1,000 business establishments (3,282 establishments in 2023), below the South Carolina figure of 30.7 and below the national 41.0.
It ranks 15th of 46 South Carolina counties with approvals. In FY2025 there were 14.
30 lenders had approvals here; the most active were Wells Fargo Bank National Association (7), TD Bank, National Association (6) and The Huntington National Bank (4). 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 Florence County
By number of approvals to businesses in the county, FY2021–FY2025; 30 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National AssociationSioux Falls, SD | 7 | $507K | 12.1% | |
| 2 | TD Bank, National AssociationWilmington, DE | 6 | $135K | 10.3% | |
| 3 | The Huntington National BankColumbus, OH | 4 | $2.2M | 6.9% | |
| 4 | Northeast BankLewiston, ME | 4 | $359K | 6.9% | |
| 5 | SouthState Bank, National AssociationWinter Haven, FL | 3 | $1.4M | 5.2% | |
| 6 | Pinnacle BankNashville, TN | 2 | — | 3.4% | |
| 7 | GBankLas Vegas, NV | 2 | — | 3.4% | |
| 8 | Newtek Bank, National AssociationMiami, FL | 2 | — | 3.4% | |
| 9 | First-Citizens Bank & Trust CompanyRaleigh, NC | 2 | — | 3.4% | |
| 10 | United Community BankGreenville, SC | 2 | — | 3.4% | |
| 11 | Certified Development Corporation of South CarolinaColumbia, SC · CDC | 2 | — | 3.4% | |
| 12 | First BankSouthern Pines, NC | 2 | — | 3.4% | |
| 13 | Milestone BankSalt Lake City, UT | 2 | — | 3.4% | |
| 14 | BayFirst National BankSaint Petersburg, FL | 2 | — | 3.4% | |
| 15 | Byline BankChicago, IL | 1 | — | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 19.0% | |
| 2 | Traveler AccommodationNAICS 7211 | 6 | 10.3% | |
| 3 | General Freight TruckingNAICS 4841 | 4 | 6.9% | |
| 4 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 2 | 3.4% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 2 | 3.4% | |
| 6 | Steel Product Manufacturing from Purchased SteelNAICS 3312 | 2 | 3.4% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.4% | |
| 8 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 3.4% | |
| 9 | Miscellaneous Nondurable Goods Merchant WholesalersNAICS 4249 | 1 | 1.7% | |
| 10 | Residential Intellectual and Developmental Disability, Mental Health, and Substance Abuse FacilitiesNAICS 6232 | 1 | 1.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 18 | 31.0% | |
| 2 | Construction | 7 | 12.1% | |
| 3 | Manufacturing | 5 | 8.6% | |
| 4 | Transportation and Warehousing | 5 | 8.6% | |
| 5 | Wholesale Trade | 4 | 6.9% | |
| 6 | Health Care and Social Assistance | 4 | 6.9% | |
| 7 | Retail Trade | 4 | 6.9% | |
| 8 | Other Services (except Public Administration) | 3 | 5.2% |
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* | 5 | $5.0M | $1.4M | 0 | — | 5 | 76 |
| FY2025 | 14 | $11.9M | $150K | 0 | — | 14 | 120 |
| FY2024 | 7 | $8.1M | $150K | 2 | — | 9 | 151 |
| FY2023 | 15 | $10.7M | $500K | 1 | — | 16 | 160 |
| FY2022 | 10 | $3.1M | $88K | 0 | — | 10 | 57 |
| FY2021 | 8 | $10.9M | $375K | 1 | — | 9 | 46 |
| FY2020 | 8 | $4.6M | $213K | 0 | — | 8 | 48 |
| FY2019 | 10 | $11.0M | $238K | 2 | — | 12 | 126 |
| FY2018 | 11 | $7.3M | $36K | 0 | — | 11 | 113 |
| FY2017 | 10 | $5.5M | $338K | 3 | $995K | 13 | 104 |
| FY2016 | 12 | $6.2M | $223K | 0 | — | 12 | 131 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 56 approvals.
Against South Carolina and the country
| FY2021–FY2025 | Florence County | South Carolina | United States |
|---|---|---|---|
| Approvals | 58 | 3,775 | 342,825 |
| Approvals per 1,000 establishments | 17.7 | 30.7 | 41.0 |
| Median 7(a) approval | $228K | $260K | $190K |
| Median 504 approval | $1.0M | $892K | $657K |
| Average approval | $830K | $666K | $573K |
| 504 share of approvals | 6.9% | 6.5% | 11.0% |
| Jobs supported per approval, as reported | 9.2 | 11.3 | 10.5 |
| Share of state approvals | 1.5% | 100.0% | — |
Approval sizes
- $50,000 or less27.6%16
- $50,001 to $150,00013.8%8
- $150,001 to $350,00012.1%7
- $350,001 to $1 million22.4%13
- $1 million to $2 million12.1%7
- Over $2 million12.1%7
Age of the businesses
- Existing, more than 2 years old39.7%23
- New business, 2 years or less27.6%16
- Startup, loan funds will open the business13.8%8
- Change of ownership19.0%11
Questions and answers
Which lenders make the most SBA loans in Florence County?
By approvals in FY2021 to FY2025: Wells Fargo Bank National Association (7), TD Bank, National Association (6), The Huntington National Bank (4), Northeast Bank (4), SouthState Bank, National Association (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Florence County?
The median 7(a) approval was $228K and the median 504 approval $1.0M; the South Carolina 7(a) median was $260K.
Which industries get the most SBA loans in Florence County?
Restaurants and Other Eating Places (11); Traveler Accommodation (6); General Freight Trucking (4); Machinery, Equipment, and Supplies Merchant Wholesalers (2); Offices of Other Health Practitioners (2).
Is SBA lending in Florence County rising?
Approvals in the three latest complete fiscal years total 39, against 27 in the three before: rising (+44%).
How does Florence County compare with the rest of South Carolina?
17.7 approvals per 1,000 establishments against 30.7 statewide, and 58 of the state's 3,775 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