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County6th of 46 in South Carolina by approvalsFIPS 45083
SBA loans in Spartanburg 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.
SBA approved 231 loans to businesses in Spartanburg County, South Carolina, in FY2021 to FY2025, worth $163M: 212 under 7(a) and 19 under 504.
That is 31.2 approvals per 1,000 business establishments (7,399 establishments in 2023), close to the South Carolina figure of 30.7 and below the national 41.0.
It ranks 6th of 46 South Carolina counties with approvals. In FY2025 there were 63, up 54% on FY2024.
60 lenders had approvals here; the most active were TD Bank, National Association (24), Wells Fargo Bank National Association (20) and Countybank (19). 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 Spartanburg County
By number of approvals to businesses in the county, FY2021–FY2025; 60 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 24 | $9.5M | 10.4% | |
| 2 | Wells Fargo Bank National AssociationSioux Falls, SD | 20 | $724K | 8.7% | |
| 3 | CountybankGreenwood, SC | 19 | $15.6M | 8.2% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 13 | $3.0M | 5.6% | |
| 5 | Provident Business Financial Services, Inc.West Columbia, SC · CDC | 9 | $8.1M | 3.9% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 9 | $1.8M | 3.9% | |
| 7 | Live Oak Banking CompanyWilmington, NC | 8 | $12.6M | 3.5% | |
| 8 | Appalachian Development CorporationGreenville, SC · CDC | 8 | $6.5M | 3.5% | |
| 9 | United Midwest Savings Bank National AssociationDe Graff, OH | 8 | $1.5M | 3.5% | |
| 10 | Lendistry SBLC, LLCLos Angeles, CA | 7 | $1.3M | 3.0% | |
| 11 | The Huntington National BankColumbus, OH | 6 | $6.2M | 2.6% | |
| 12 | Pinnacle BankNashville, TN | 6 | $6.0M | 2.6% | |
| 13 | Readycap Lending, LLCBerkeley Heights, NJ | 6 | $5.8M | 2.6% | |
| 14 | Newtek Small Business Finance, Inc.Lake Success, NY | 6 | $3.1M | 2.6% | |
| 15 | First-Citizens Bank & Trust CompanyRaleigh, NC | 5 | $3.3M | 2.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 19 | 8.2% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 17 | 7.4% | |
| 3 | General Freight TruckingNAICS 4841 | 14 | 6.1% | |
| 4 | Residential Building ConstructionNAICS 2361 | 10 | 4.3% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 10 | 4.3% | |
| 6 | Services to Buildings and DwellingsNAICS 5617 | 10 | 4.3% | |
| 7 | Traveler AccommodationNAICS 7211 | 7 | 3.0% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 7 | 3.0% | |
| 9 | Personal Care ServicesNAICS 8121 | 7 | 3.0% | |
| 10 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 2.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 30 | 13.0% | |
| 2 | Other Services (except Public Administration) | 30 | 13.0% | |
| 3 | Accommodation and Food Services | 27 | 11.7% | |
| 4 | Manufacturing | 26 | 11.3% | |
| 5 | Retail Trade | 21 | 9.1% | |
| 6 | Health Care and Social Assistance | 21 | 9.1% | |
| 7 | Transportation and Warehousing | 19 | 8.2% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 16 | 6.9% |
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* | 42 | $20.8M | $201K | 3 | $2.0M | 45 | 441 |
| FY2025 | 57 | $34.2M | $300K | 6 | $6.9M | 63 | 553 |
| FY2024 | 39 | $23.5M | $203K | 2 | — | 41 | 296 |
| FY2023 | 49 | $27.9M | $179K | 2 | — | 51 | 486 |
| FY2022 | 39 | $31.1M | $550K | 3 | $4.1M | 42 | 496 |
| FY2021 | 28 | $28.3M | $655K | 6 | $3.7M | 34 | 389 |
| FY2020 | 18 | $11.1M | $509K | 2 | — | 20 | 243 |
| FY2019 | 29 | $17.4M | $177K | 1 | — | 30 | 201 |
| FY2018 | 21 | $21.1M | $440K | 0 | — | 21 | 247 |
| FY2017 | 22 | $14.7M | $311K | 0 | — | 22 | 280 |
| FY2016 | 17 | $13.4M | $322K | 0 | — | 17 | 157 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 110 approvals.
Against South Carolina and the country
| FY2021–FY2025 | Spartanburg County | South Carolina | United States |
|---|---|---|---|
| Approvals | 231 | 3,775 | 342,825 |
| Approvals per 1,000 establishments | 31.2 | 30.7 | 41.0 |
| Median 7(a) approval | $300K | $260K | $190K |
| Median 504 approval | $732K | $892K | $657K |
| Average approval | $704K | $666K | $573K |
| 504 share of approvals | 8.2% | 6.5% | 11.0% |
| Jobs supported per approval, as reported | 9.6 | 11.3 | 10.5 |
| Share of state approvals | 6.1% | 100.0% | — |
Approval sizes
- $50,000 or less18.6%43
- $50,001 to $150,00015.2%35
- $150,001 to $350,00019.5%45
- $350,001 to $1 million25.5%59
- $1 million to $2 million12.6%29
- Over $2 million8.7%20
Age of the businesses
- Existing, more than 2 years old50.6%117
- New business, 2 years or less25.1%58
- Startup, loan funds will open the business14.3%33
- Change of ownership10.0%23
Questions and answers
Which lenders make the most SBA loans in Spartanburg County?
By approvals in FY2021 to FY2025: TD Bank, National Association (24), Wells Fargo Bank National Association (20), Countybank (19), Newtek Bank, National Association (13), Provident Business Financial Services, Inc. (9). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Spartanburg County?
The median 7(a) approval was $300K and the median 504 approval $732K; the South Carolina 7(a) median was $260K.
Which industries get the most SBA loans in Spartanburg County?
Restaurants and Other Eating Places (19); Automotive Repair and Maintenance (17); General Freight Trucking (14); Residential Building Construction (10); Offices of Other Health Practitioners (10).
Is SBA lending in Spartanburg County rising?
Approvals in the three latest complete fiscal years total 155, against 96 in the three before: rising (+61%).
How does Spartanburg County compare with the rest of South Carolina?
31.2 approvals per 1,000 establishments against 30.7 statewide, and 231 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