Industries › Wholesale Trade › Merchant Wholesalers, Durable Goods
NAICS 423Subsector2.6% of all approvals
SBA loans for merchant wholesalers, durable goods
7(a) and 504 approvals to businesses SBA classifies under NAICS 423, with the lenders and states behind them.
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 9,037 loans to businesses in merchant wholesalers, durable goods (NAICS 423) in FY2021 to FY2025, worth $7.01bn: 7,785 under 7(a) and 1,252 under 504.
That is 2.6% of all approvals. Set against the 225,021 establishments the Census Bureau counts in the industry, it comes to 40.2 approvals per 1,000 establishments; across all industries the figure is 41.0.
In FY2025 there were 2,042 approvals, about level with FY2024. The median 7(a) approval was $250K, against $190K for all industries, and 2.1% of approvals went to franchise businesses.
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 7.5% as charged off, close to the 6.6% for all industries.
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.
Volume 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* | 897 | $572M | $250K | 135 | $198M | 1,032 | 7,880 |
| FY2025 | 1,842 | $1.20bn | $250K | 200 | $279M | 2,042 | 14,623 |
| FY2024 | 1,939 | $1.12bn | $200K | 184 | $302M | 2,123 | 15,053 |
| FY2023 | 1,469 | $866M | $250K | 185 | $258M | 1,654 | 13,451 |
| FY2022 | 1,195 | $874M | $280K | 319 | $422M | 1,514 | 12,918 |
| FY2021 | 1,340 | $1.21bn | $420K | 364 | $471M | 1,704 | 15,861 |
| FY2020 | 1,093 | $788M | $300K | 258 | $322M | 1,351 | 11,877 |
| FY2019 | 1,288 | $728M | $200K | 209 | $215M | 1,497 | 11,299 |
| FY2018 | 1,617 | $875M | $150K | 194 | $192M | 1,811 | 13,388 |
| FY2017 | 1,642 | $854M | $150K | 199 | $206M | 1,841 | 14,668 |
| FY2016 | 1,715 | $906M | $150K | 212 | $209M | 1,927 | 16,287 |
SBA records the NAICS code in force when a loan was approved. The 2022 NAICS revision renumbered parts of retail trade and information, so some lines of business appear under one code before FY2023 and another after. FY2016–FY2020 approvals under this code: 8,427.
Within this subsector
| NAICS | Industry group | Approvals, FY2021–FY2025 | Share |
|---|---|---|---|
| 4239 | Miscellaneous Durable Goods Merchant Wholesalers | 2,910 | 32.2% |
| 4238 | Machinery, Equipment, and Supplies Merchant Wholesalers | 1,393 | 15.4% |
| 4234 | Professional and Commercial Equipment and Supplies Merchant Wholesalers | 1,167 | 12.9% |
| 4236 | Household Appliances and Electrical and Electronic Goods Merchant Wholesalers | 845 | 9.4% |
| 4233 | Lumber and Other Construction Materials Merchant Wholesalers | 776 | 8.6% |
| 4231 | Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers | 733 | 8.1% |
| 4232 | Furniture and Home Furnishing Merchant Wholesalers | 516 | 5.7% |
| 4237 | Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers | 503 | 5.6% |
| 4235 | Metal and Mineral (except Petroleum) Merchant Wholesalers | 194 | 2.1% |
Lenders most active in this industry
By number of approvals, FY2021–FY2025; 809 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 578 | $237M | 6.4% | |
| 2 | TD Bank, National AssociationWilmington, DE | 479 | $159M | 5.3% | |
| 3 | BayFirst National BankSaint Petersburg, FL | 423 | $72.9M | 4.7% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 363 | $224M | 4.0% | |
| 5 | Northeast BankLewiston, ME | 329 | $59.2M | 3.6% | |
| 6 | JPMorgan Chase Bank, National AssociationColumbus, OH | 305 | $118M | 3.4% | |
| 7 | U.S. Bank, National AssociationCincinnati, OH | 296 | $121M | 3.3% | |
| 8 | Wells Fargo Bank National AssociationSioux Falls, SD | 259 | $115M | 2.9% | |
| 9 | Bank of America, National AssociationCharlotte, NC | 217 | $112M | 2.4% | |
| 10 | Manufacturers and Traders Trust CompanyBuffalo, NY | 193 | $38.6M | 2.1% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 137 | $59.6M | 1.5% | |
| 12 | Newtek Small Business Finance, Inc.Lake Success, NY | 131 | $124M | 1.4% | |
| 13 | Live Oak Banking CompanyWilmington, NC | 125 | $218M | 1.4% | |
| 14 | Business Finance CapitalLos Angeles, CA · CDC | 105 | $166M | 1.2% | |
| 15 | KeyBank National AssociationCleveland, OH | 105 | $77.1M | 1.2% | |
| 16 | Zions Bank, A Division ofSalt Lake City, UT | 95 | $47.5M | 1.1% | |
| 17 | PNC Bank, National AssociationWilmington, DE | 94 | $35.2M | 1.0% | |
| 18 | Celtic Bank CorporationSalt Lake City, UT | 94 | $31.9M | 1.0% | |
| 19 | Fifth Third BankCincinnati, OH | 82 | $71.4M | 0.9% | |
| 20 | Mortgage Capital Development CorporationOakland, CA · CDC | 79 | $122M | 0.9% |
States
| # | State of the business | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 1,440 | $1.41bn | 15.9% | |
| 2 | Florida | 1,114 | $873M | 12.3% | |
| 3 | New York | 780 | $472M | 8.6% | |
| 4 | Texas | 660 | $601M | 7.3% | |
| 5 | Ohio | 360 | $220M | 4.0% | |
| 6 | New Jersey | 359 | $293M | 4.0% | |
| 7 | Illinois | 313 | $249M | 3.5% | |
| 8 | Michigan | 283 | $157M | 3.1% | |
| 9 | Minnesota | 266 | $166M | 2.9% | |
| 10 | Pennsylvania | 255 | $176M | 2.8% | |
| 11 | Georgia | 244 | $248M | 2.7% | |
| 12 | Utah | 193 | $163M | 2.1% | |
| 13 | Wisconsin | 164 | $108M | 1.8% | |
| 14 | Missouri | 160 | $122M | 1.8% | |
| 15 | Arizona | 154 | $126M | 1.7% |
Franchise brands
2.1% of approvals carried a franchise code.
| # | Brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Metal Supermarkets | 25 | 0.3% | |
| 2 | Snap-On | 12 | 0.1% | |
| 3 | 1-800-Radiator & A | 7 | 0.1% | |
| 4 | Napa AutoCare Program Membership Agreement | 6 | 0.1% | |
| 5 | Batteries Plus | 6 | 0.1% | |
| 6 | Pirtek | 6 | 0.1% | |
| 7 | Generator Supercenter | 6 | 0.1% | |
| 8 | Interstate All Battery Center | 5 | 0.1% | |
| 9 | Budget Blinds | 5 | 0.1% | |
| 10 | Mobility Plus | 5 | 0.1% |
Approval sizes
- $50,000 or less13.4%1,209
- $50,001 to $150,00020.8%1,877
- $150,001 to $350,00020.2%1,829
- $350,001 to $1 million22.8%2,057
- $1 million to $2 million11.5%1,043
- Over $2 million11.3%1,022
Age of the businesses
- Existing, more than 2 years old73.2%6,617
- New business, 2 years or less13.5%1,219
- Startup, loan funds will open the business5.2%466
- Change of ownership8.1%730
- Not answered0.1%5
Charge-offs against all industries
| Loans approved FY2010–FY2021 | This industry, 7(a) | All 7(a) | This industry, 504 | All 504 |
|---|---|---|---|---|
| Approvals in these years | 18,979 | 639,905 | 3,388 | 85,591 |
| Cancelled or never disbursed | 2,263 | 79,313 | 466 | 12,514 |
| Disbursed loans | 16,716 | 560,592 | 2,922 | 73,077 |
| Paid in full | 13,364 | 435,813 | 1,639 | 35,491 |
| Charged off | 1,248 | 36,891 | 19 | 905 |
| Still outstanding (status exempt from disclosure) | 2,104 | 87,888 | 1,264 | 36,681 |
| Charged off, share of disbursed loans | 7.5% | 6.6% | 0.7% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.8% | 2.5% | 0.4% | 0.9% |
| Dollars charged off | $247M | $5.70bn | $10.4M | $499M |
Against all industries
| FY2021–FY2025 | NAICS 423 | All industries |
|---|---|---|
| Median 7(a) approval | $250K | $190K |
| Median 504 approval | $975K | $657K |
| Average approval | $776K | $573K |
| Approvals per 1,000 establishments | 40.2 | 41.0 |
| Approvals to franchise businesses | 2.1% | 11.2% |
| Jobs supported per approval, as reported | 8.0 | 10.5 |
Questions and answers
Which lenders make the most SBA loans for merchant wholesalers, durable goods?
By approvals in FY2021 to FY2025: The Huntington National Bank (578), TD Bank, National Association (479), BayFirst National Bank (423), Newtek Bank, National Association (363), Northeast Bank (329). 809 lenders had at least one.
How large are typical SBA loans for merchant wholesalers, durable goods?
The median 7(a) approval was $250K and the median 504 approval $975K; the average across both programs was $776K.
What share of SBA loans for merchant wholesalers, durable goods are charged off?
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 7.5% are recorded as charged off, against 6.6% for all industries; for 504 loans, 0.7% against 1.2%.
Which states have the most SBA loans for merchant wholesalers, durable goods?
California (1,440), Florida (1,114), New York (780), Texas (660), Ohio (360).
Is SBA lending for merchant wholesalers, durable goods rising?
Approvals in the three latest complete fiscal years total 5,819, against 4,569 in the three before: rising (+27%).
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