Industries › Retail Trade
NAICS 44-45Sector12.1% of all approvals
SBA loans for retail trade
7(a) and 504 approvals to businesses SBA classifies under NAICS 44-45, 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.
Businesses classified under NAICS 44-45, retail trade, received 41,599 SBA loan approvals worth $26.5bn in FY2021 to FY2025 (37,247 7(a), 4,352 504).
That is 12.1% of all approvals. Set against the 1,043,373 establishments the Census Bureau counts in the industry, it comes to 39.9 approvals per 1,000 establishments; across all industries the figure is 41.0.
In FY2025 there were 9,541 approvals, up 10% on FY2024. The median 7(a) approval was $249K, against $190K for all industries, and 12.9% of approvals went to franchise businesses.
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 7.3% 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* | 4,539 | $2.87bn | $250K | 476 | $619M | 5,015 | 36,781 |
| FY2025 | 8,797 | $4.73bn | $200K | 744 | $813M | 9,541 | 67,130 |
| FY2024 | 7,982 | $4.02bn | $150K | 671 | $729M | 8,653 | 58,951 |
| FY2023 | 6,925 | $3.87bn | $203K | 625 | $645M | 7,550 | 59,719 |
| FY2022 | 5,930 | $3.59bn | $250K | 1,049 | $1.12bn | 6,979 | 59,290 |
| FY2021 | 7,613 | $5.90bn | $397K | 1,263 | $1.12bn | 8,876 | 78,583 |
| FY2020 | 5,493 | $3.33bn | $255K | 823 | $658M | 6,316 | 48,285 |
| FY2019 | 6,626 | $3.05bn | $175K | 639 | $511M | 7,265 | 47,040 |
| FY2018 | 7,510 | $3.26bn | $150K | 616 | $439M | 8,126 | 53,254 |
| FY2017 | 8,180 | $3.39bn | $150K | 738 | $515M | 8,918 | 59,675 |
| FY2016 | 8,526 | $3.28bn | $143K | 600 | $465M | 9,126 | 64,466 |
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: 39,751.
Within this sector
| NAICS | Subsector | Approvals, FY2021–FY2025 | Share |
|---|---|---|---|
| 445 | Food and Beverage Stores | 10,194 | 24.5% |
| 459 | Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers | 5,528 | 13.3% |
| 441 | Motor Vehicle and Parts Dealers | 4,109 | 9.9% |
| 458 | Clothing, Clothing Accessories, Shoe, and Jewelry Retailers | 2,796 | 6.7% |
| 457 | Gasoline Stations and Fuel Dealers | 2,520 | 6.1% |
| 444 | Building Material and Garden Equipment and Supplies Dealers | 2,484 | 6.0% |
| 456 | Health and Personal Care Retailers | 2,355 | 5.7% |
| 449 | Furniture, Home Furnishings, Electronics, and Appliance Retailers | 1,928 | 4.6% |
| 454 | Nonstore Retailers | 1,799 | 4.3% |
| 453 | Miscellaneous Store Retailers | 1,454 | 3.5% |
| 447 | Gasoline Stations | 1,386 | 3.3% |
| 455 | General Merchandise Retailers | 1,304 | 3.1% |
| 448 | Clothing and Clothing Accessories Stores | 993 | 2.4% |
| 446 | Health and Personal Care Stores | 988 | 2.4% |
| 451 | Sporting Goods, Hobby, Musical Instrument, and Book Stores | 730 | 1.8% |
| 442 | Furniture and Home Furnishings Stores | 713 | 1.7% |
| 443 | Electronics and Appliance Stores | 188 | 0.5% |
| 452 | General Merchandise Stores | 130 | 0.3% |
Lenders most active in this industry
By number of approvals, FY2021–FY2025; 1,562 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 3,061 | $911M | 7.4% | |
| 2 | TD Bank, National AssociationWilmington, DE | 1,823 | $275M | 4.4% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 1,357 | $443M | 3.3% | |
| 4 | Wells Fargo Bank National AssociationSioux Falls, SD | 1,314 | $343M | 3.2% | |
| 5 | Northeast BankLewiston, ME | 1,254 | $199M | 3.0% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 1,131 | $227M | 2.7% | |
| 7 | Manufacturers and Traders Trust CompanyBuffalo, NY | 1,109 | $145M | 2.7% | |
| 8 | Readycap Lending, LLCBerkeley Heights, NJ | 1,095 | $764M | 2.6% | |
| 9 | Newtek Bank, National AssociationMiami, FL | 920 | $372M | 2.2% | |
| 10 | Celtic Bank CorporationSalt Lake City, UT | 746 | $730M | 1.8% | |
| 11 | JPMorgan Chase Bank, National AssociationColumbus, OH | 652 | $168M | 1.6% | |
| 12 | Live Oak Banking CompanyWilmington, NC | 598 | $1.00bn | 1.4% | |
| 13 | KeyBank National AssociationCleveland, OH | 539 | $165M | 1.3% | |
| 14 | Newtek Small Business Finance, Inc.Lake Success, NY | 496 | $281M | 1.2% | |
| 15 | Byline BankChicago, IL | 460 | $540M | 1.1% | |
| 16 | United Midwest Savings Bank National AssociationDe Graff, OH | 449 | $85.8M | 1.1% | |
| 17 | Hanmi BankLos Angeles, CA | 417 | $418M | 1.0% | |
| 18 | Metro City BankDoraville, GA | 405 | $755M | 1.0% | |
| 19 | Commonwealth Business BankLos Angeles, CA | 383 | $413M | 0.9% | |
| 20 | Lendistry SBLC, LLCLos Angeles, CA | 374 | $78.3M | 0.9% |
States
| # | State of the business | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 5,720 | $4.72bn | 13.8% | |
| 2 | New York | 3,124 | $1.45bn | 7.5% | |
| 3 | Texas | 2,985 | $2.67bn | 7.2% | |
| 4 | Florida | 2,743 | $1.63bn | 6.6% | |
| 5 | Ohio | 1,683 | $536M | 4.0% | |
| 6 | Michigan | 1,553 | $817M | 3.7% | |
| 7 | Georgia | 1,535 | $1.74bn | 3.7% | |
| 8 | New Jersey | 1,442 | $880M | 3.5% | |
| 9 | Washington | 1,287 | $1.32bn | 3.1% | |
| 10 | Illinois | 1,273 | $923M | 3.1% | |
| 11 | Pennsylvania | 1,262 | $625M | 3.0% | |
| 12 | Colorado | 1,184 | $772M | 2.8% | |
| 13 | Minnesota | 1,143 | $526M | 2.7% | |
| 14 | Massachusetts | 1,005 | $340M | 2.4% | |
| 15 | North Carolina | 858 | $548M | 2.1% |
Franchise brands
12.9% of approvals carried a franchise code.
| # | Brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Ace Hardware | 249 | 0.6% | |
| 2 | Naturals2Go | 214 | 0.5% | |
| 3 | Pet Supplies Plus | 141 | 0.3% | |
| 4 | Budget Blinds | 126 | 0.3% | |
| 5 | Bricks & Minifigs | 90 | 0.2% | |
| 6 | AM/PM Mini-Mart Agreement | 89 | 0.2% | |
| 7 | Chevron | 82 | 0.2% | |
| 8 | Crumbl | 74 | 0.2% | |
| 9 | Once Upon A Child | 59 | 0.1% | |
| 10 | Floor Coverings International | 59 | 0.1% |
Approval sizes
- $50,000 or less19.9%8,293
- $50,001 to $150,00019.4%8,079
- $150,001 to $350,00018.0%7,496
- $350,001 to $1 million23.7%9,854
- $1 million to $2 million11.0%4,582
- Over $2 million7.9%3,295
Age of the businesses
- Existing, more than 2 years old53.8%22,397
- New business, 2 years or less17.7%7,347
- Startup, loan funds will open the business14.3%5,944
- Change of ownership14.1%5,871
- Not answered0.1%40
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 | 88,336 | 639,905 | 10,141 | 85,591 |
| Cancelled or never disbursed | 11,309 | 79,313 | 1,517 | 12,514 |
| Disbursed loans | 77,027 | 560,592 | 8,624 | 73,077 |
| Paid in full | 58,591 | 435,813 | 4,145 | 35,491 |
| Charged off | 5,642 | 36,891 | 118 | 905 |
| Still outstanding (status exempt from disclosure) | 12,794 | 87,888 | 4,361 | 36,681 |
| Charged off, share of disbursed loans | 7.3% | 6.6% | 1.4% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.5% | 2.5% | 0.9% | 0.9% |
| Dollars charged off | $829M | $5.70bn | $53.2M | $499M |
Against all industries
| FY2021–FY2025 | NAICS 44-45 | All industries |
|---|---|---|
| Median 7(a) approval | $249K | $190K |
| Median 504 approval | $674K | $657K |
| Average approval | $638K | $573K |
| Approvals per 1,000 establishments | 39.9 | 41.0 |
| Approvals to franchise businesses | 12.9% | 11.2% |
| Jobs supported per approval, as reported | 7.8 | 10.5 |
Questions and answers
Which lenders make the most SBA loans for retail trade?
By approvals in FY2021 to FY2025: The Huntington National Bank (3,061), TD Bank, National Association (1,823), U.S. Bank, National Association (1,357), Wells Fargo Bank National Association (1,314), Northeast Bank (1,254). 1,562 lenders had at least one.
How large are typical SBA loans for retail trade?
The median 7(a) approval was $249K and the median 504 approval $674K; the average across both programs was $638K.
What share of SBA loans for retail trade are charged off?
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 7.3% are recorded as charged off, against 6.6% for all industries; for 504 loans, 1.4% against 1.2%.
Which states have the most SBA loans for retail trade?
California (5,720), New York (3,124), Texas (2,985), Florida (2,743), Ohio (1,683).
Is SBA lending for retail trade rising?
Approvals in the three latest complete fiscal years total 25,744, against 22,171 in the three before: rising (+16%).
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