Industries › Retail Trade › General Merchandise Stores
NAICS 452Subsector0.0% of all approvals
SBA loans for general merchandise stores
7(a) and 504 approvals to businesses SBA classifies under NAICS 452, 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 130 loans to businesses in general merchandise stores (NAICS 452) in FY2021 to FY2025, worth $53.6M: 122 under 7(a) and 8 under 504.
That is 0.0% of all approvals. Set against the 59,516 establishments the Census Bureau counts in the industry, it comes to 2.2 approvals per 1,000 establishments; across all industries the figure is 41.0.
In FY2025 there were 3 approvals. The median 7(a) approval was $100K, against $190K for all industries, and 5.4% of approvals went to franchise businesses.
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 10.2% as charged off, above 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* | 1 | — | — | 0 | — | 1 | 8 |
| FY2025 | 3 | $325K | $50K | 0 | — | 3 | 5 |
| FY2024 | 9 | $8.3M | $250K | 0 | — | 9 | 57 |
| FY2023 | 4 | $599K | $102K | 0 | — | 4 | 8 |
| FY2022 | 33 | $7.5M | $45K | 1 | — | 34 | 140 |
| FY2021 | 73 | $27.1M | $124K | 7 | $9.1M | 80 | 524 |
| FY2020 | 46 | $15.2M | $96K | 3 | $1.6M | 49 | 248 |
| FY2019 | 58 | $18.7M | $95K | 5 | $6.2M | 63 | 329 |
| FY2018 | 80 | $13.9M | $75K | 3 | $3.5M | 83 | 386 |
| FY2017 | 90 | $20.8M | $55K | 4 | $2.1M | 94 | 560 |
| FY2016 | 142 | $28.2M | $50K | 6 | $5.7M | 148 | 735 |
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: 437.
Within this subsector
| NAICS | Industry group | Approvals, FY2021–FY2025 | Share |
|---|---|---|---|
| 4523 | General Merchandise Stores, including Warehouse Clubs and Supercenters | 106 | 81.5% |
| 4522 | Department Stores | 11 | 8.5% |
| 4529 | NAICS 4529 | 9 | 6.9% |
| 4521 | NAICS 4521 | 4 | 3.1% |
Lenders most active in this industry
By number of approvals, FY2021–FY2025; 63 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 18 | $2.7M | 13.8% | |
| 2 | TD Bank, National AssociationWilmington, DE | 11 | $1.1M | 8.5% | |
| 3 | Wells Fargo Bank National AssociationSioux Falls, SD | 8 | $78K | 6.2% | |
| 4 | Bank of HopeLos Angeles, CA | 6 | $1.9M | 4.6% | |
| 5 | KeyBank National AssociationCleveland, OH | 6 | $376K | 4.6% | |
| 6 | Manufacturers and Traders Trust CompanyBuffalo, NY | 6 | $320K | 4.6% | |
| 7 | Newtek Small Business Finance, Inc.Lake Success, NY | 5 | $739K | 3.8% | |
| 8 | Commerce BankKansas City, MO | 3 | $460K | 2.3% | |
| 9 | PNC Bank, National AssociationWilmington, DE | 3 | $95K | 2.3% | |
| 10 | U.S. Bank, National AssociationCincinnati, OH | 3 | $45K | 2.3% | |
| 11 | Live Oak Banking CompanyWilmington, NC | 2 | — | 1.5% | |
| 12 | Trenton Business Assistance CorporationPrinceton, NJ · CDC | 2 | — | 1.5% | |
| 13 | Old National BankEvansville, IN | 2 | — | 1.5% | |
| 14 | Plumas BankQuincy, CA | 2 | — | 1.5% | |
| 15 | JPMorgan Chase Bank, National AssociationColumbus, OH | 2 | — | 1.5% | |
| 16 | Vermont 504 CorporationMontpelier, VT | 2 | — | 1.5% | |
| 17 | 4Front Credit UnionTraverse City, MI | 2 | — | 1.5% | |
| 18 | Tompkins Community BankIthaca, NY | 2 | — | 1.5% | |
| 19 | Fulton Bank, National AssociationLancaster, PA | 1 | — | 0.8% | |
| 20 | Commonwealth Business BankLos Angeles, CA | 1 | — | 0.8% |
States
| # | State of the business | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 17 | $12.8M | 13.1% | |
| 2 | Ohio | 15 | $2.7M | 11.5% | |
| 3 | New York | 13 | $3.7M | 10.0% | |
| 4 | Michigan | 13 | $2.5M | 10.0% | |
| 5 | New Jersey | 11 | $9.0M | 8.5% | |
| 6 | Florida | 6 | $1.5M | 4.6% | |
| 7 | Texas | 6 | $1.2M | 4.6% | |
| 8 | Minnesota | 5 | $3.1M | 3.8% | |
| 9 | Pennsylvania | 4 | $3.3M | 3.1% | |
| 10 | Vermont | 4 | $620K | 3.1% | |
| 11 | Washington | 3 | $3.6M | 2.3% | |
| 12 | Colorado | 3 | $85K | 2.3% | |
| 13 | Alabama | 2 | — | 1.5% | |
| 14 | Utah | 2 | — | 1.5% | |
| 15 | Mississippi | 2 | — | 1.5% |
Franchise brands
5.4% of approvals carried a franchise code.
| # | Brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Apricot Lane | 3 | 2.3% | |
| 2 | Buff City Soap | 1 | 0.8% | |
| 3 | Batteries Plus | 1 | 0.8% | |
| 4 | Crown Trophy | 1 | 0.8% | |
| 5 | Sears Authorized Hometown Stores Agreement | 1 | 0.8% |
Approval sizes
- $50,000 or less38.5%50
- $50,001 to $150,00017.7%23
- $150,001 to $350,00020.8%27
- $350,001 to $1 million10.8%14
- $1 million to $2 million6.9%9
- Over $2 million5.4%7
Age of the businesses
- Existing, more than 2 years old52.3%68
- New business, 2 years or less23.1%30
- Startup, loan funds will open the business16.9%22
- Change of ownership7.7%10
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 | 1,189 | 639,905 | 97 | 85,591 |
| Cancelled or never disbursed | 147 | 79,313 | 15 | 12,514 |
| Disbursed loans | 1,042 | 560,592 | 82 | 73,077 |
| Paid in full | 811 | 435,813 | 48 | 35,491 |
| Charged off | 106 | 36,891 | 0 | 905 |
| Still outstanding (status exempt from disclosure) | 125 | 87,888 | 34 | 36,681 |
| Charged off, share of disbursed loans | 10.2% | 6.6% | 0.0% | 1.2% |
| Dollars charged off, share of disbursed dollars | 3.7% | 2.5% | 0.0% | 0.9% |
| Dollars charged off | $8.4M | $5.70bn | $0 | $499M |
Against all industries
| FY2021–FY2025 | NAICS 452 | All industries |
|---|---|---|
| Median 7(a) approval | $100K | $190K |
| Median 504 approval | $1.2M | $657K |
| Average approval | $412K | $573K |
| Approvals per 1,000 establishments | 2.2 | 41.0 |
| Approvals to franchise businesses | 5.4% | 11.2% |
| Jobs supported per approval, as reported | 5.6 | 10.5 |
Questions and answers
Which lenders make the most SBA loans for general merchandise stores?
By approvals in FY2021 to FY2025: The Huntington National Bank (18), TD Bank, National Association (11), Wells Fargo Bank National Association (8), Bank of Hope (6), KeyBank National Association (6). 63 lenders had at least one.
How large are typical SBA loans for general merchandise stores?
The median 7(a) approval was $100K and the median 504 approval $1.2M; the average across both programs was $412K.
What share of SBA loans for general merchandise stores are charged off?
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 10.2% are recorded as charged off, against 6.6% for all industries; for 504 loans, 0.0% against 1.2%.
Which states have the most SBA loans for general merchandise stores?
California (17), Ohio (15), New York (13), Michigan (13), New Jersey (11).
Is SBA lending for general merchandise stores rising?
Approvals in the three latest complete fiscal years total 16, against 163 in the three before: falling (-90%).
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