Lenders › Arizona Capital Source
504 CDCTucson, Arizonacertified development company39th of 182 by approvals
Arizona Capital Source
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Arizona Capital Source, based in Tucson, Arizona, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 244 of its 504 loans worth $223M in FY2021 to FY2025, which places it 39th of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 32 approvals totalling $35.4M, down 18% on FY2024 (39). FY2026 to 30 Jun 2026 adds 22 more.
The median approval was $557K, against $657K for the 504 program as a whole; 3.3% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 4 states and territories and 15 counties, led by Arizona (98.8%), New Mexico (0.4%) and California (0.4%). The largest industry group was health care and social assistance at 18.9% of approvals, and 9.8% of approvals were to franchise businesses.
Of 757 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (1.2%), 447 as paid in full and 301 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 22 | $17.8M | $552K | $810K | 143 |
| FY2025 | 32 | $35.4M | $512K | $1.1M | 299 |
| FY2024 | 39 | $35.4M | $365K | $909K | 471 |
| FY2023 | 28 | $24.0M | $636K | $857K | 275 |
| FY2022 | 61 | $61.1M | $775K | $1.0M | 684 |
| FY2021 | 84 | $66.8M | $482K | $795K | 830 |
| FY2020 | 86 | $66.1M | $436K | $768K | 707 |
| FY2019 | 70 | $59.7M | $469K | $853K | 900 |
| FY2018 | 47 | $35.1M | $549K | $746K | 544 |
| FY2017 | 57 | $43.3M | $504K | $759K | 540 |
| FY2016 | 54 | $38.0M | $516K | $703K | 563 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 314 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Arizona | 504 program |
|---|---|---|---|
| Approvals in these years | 833 | 1,422 | 85,591 |
| Cancelled or never disbursed | 76 | 142 | 12,514 |
| Disbursed loans | 757 | 1,280 | 73,077 |
| Paid in full | 447 | 685 | 35,491 |
| Charged off | 9 | 13 | 905 |
| Still outstanding (status exempt from disclosure) | 301 | 582 | 36,681 |
| Charged off, share of disbursed loans | 1.2% | 1.0% | 1.2% |
| Dollars charged off, share of disbursed dollars | 0.9% | 0.7% | 0.9% |
| Dollars charged off | $4.1M | $6.6M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 75 | 12 | 0 | 0.0% | 0.1% |
| FY2020 | 74 | 14 | 0 | 0.0% | 0.1% |
| FY2019 | 62 | 21 | 0 | 0.0% | 0.3% |
| FY2018 | 44 | 24 | 0 | 0.0% | 0.4% |
| FY2017 | 53 | 28 | 0 | 0.0% | 0.8% |
| FY2016 | 51 | 33 | 0 | 0.0% | 1.0% |
| FY2015 | 49 | 33 | 1 | 2.0% | 1.2% |
| FY2014 | 49 | 42 | 0 | 0.0% | 1.3% |
| FY2013 | 65 | 48 | 2 | 3.1% | 1.4% |
| FY2012 | 87 | 68 | 1 | 1.1% | 2.0% |
| FY2011 | 65 | 53 | 2 | 3.1% | 2.1% |
| FY2010 | 83 | 71 | 3 | 3.6% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $557K | $657K |
| Average approval | $913K | $1.0M |
| Approvals of $150,000 or less | 3.3% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 16.0% | 14.4% |
| Approvals to franchise businesses | 9.8% | 9.0% |
| Jobs supported per approval, as reported | 10.5 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 1.2% | 1.2% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Arizona | 241 | $218M | 98.8% | |
| 2 | New Mexico | 1 | — | 0.4% | |
| 3 | California | 1 | — | 0.4% | |
| 4 | Texas | 1 | — | 0.4% |
In Arizona the lender accounts for 23.0% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (15 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Maricopa County, AZ | 126 | $120M | 51.6% | |
| 2 | Pima County, AZ | 51 | $41.8M | 20.9% | |
| 3 | Yavapai County, AZ | 20 | $16.3M | 8.2% | |
| 4 | Coconino County, AZ | 7 | $13.0M | 2.9% | |
| 5 | Mohave County, AZ | 7 | $6.4M | 2.9% | |
| 6 | Yuma County, AZ | 7 | $4.1M | 2.9% | |
| 7 | Santa Cruz County, AZ | 7 | $2.8M | 2.9% | |
| 8 | Pinal County, AZ | 6 | $4.1M | 2.5% | |
| 9 | Navajo County, AZ | 5 | $4.3M | 2.0% | |
| 10 | Graham County, AZ | 2 | — | 0.8% | |
| 11 | Cochise County, AZ | 2 | — | 0.8% | |
| 12 | Bernalillo County, NM | 1 | — | 0.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 46 | 18.9% | |
| 2 | Accommodation and Food Services | 33 | 13.5% | |
| 3 | Construction | 27 | 11.1% | |
| 4 | Other Services (except Public Administration) | 25 | 10.2% | |
| 5 | Retail Trade | 22 | 9.0% | |
| 6 | Manufacturing | 18 | 7.4% | |
| 7 | Professional, Scientific, and Technical Services | 16 | 6.6% | |
| 8 | Wholesale Trade | 14 | 5.7% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 6.6% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 14 | 5.7% | |
| 3 | Traveler AccommodationNAICS 7211 | 13 | 5.3% | |
| 4 | Offices of PhysiciansNAICS 6211 | 11 | 4.5% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 11 | 4.5% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 3.3% | |
| 7 | Continuing Care Retirement Communities and Assisted Living Facilities for the ElderlyNAICS 6233 | 7 | 2.9% | |
| 8 | Other Specialty Trade ContractorsNAICS 2389 | 7 | 2.9% | |
| 9 | Lessors of Real EstateNAICS 5311 | 6 | 2.5% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 6 | 2.5% |
Approval sizes
- $50,001 to $150,0003.3%8
- $150,001 to $350,00027.0%66
- $350,001 to $1 million43.4%106
- $1 million to $2 million15.6%38
- Over $2 million10.7%26
Loan terms
- Over 5 to 10 years0.4%1
- Over 10 to 20 years4.1%10
- Over 20 years95.5%233
Age of the businesses
- Existing, more than 2 years old82.8%202
- New business, 2 years or less5.3%13
- Startup, loan funds will open the business10.7%26
- Change of ownership1.2%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 114 | 46.7% | |
| 2 | Premier Certified Lenders Program | 44 | 18.0% | |
| 3 | ALP Express | 37 | 15.2% | |
| 4 | 504 Basic | 26 | 10.7% | |
| 5 | 504 Refinancing Program | 21 | 8.6% | |
| 6 | PCLP Debt Refinance | 1 | 0.4% |
Franchise share
24 of 244 approvals in FY2021–FY2025 (9.8%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Culver's ButterBurgers & Frozen Custard | 4 | 1.6% | |
| 2 | Homewood Suites by Hilton | 2 | 0.8% | |
| 3 | GreenTree Inn | 2 | 0.8% | |
| 4 | Cambria Hotels | 1 | 0.4% | |
| 5 | Americas Best Value Inn | 1 | 0.4% | |
| 6 | Country Inn and Suites by Radisson | 1 | 0.4% | |
| 7 | La Quinta by Wyndham | 1 | 0.4% | |
| 8 | Days Inn | 1 | 0.4% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | First Fidelity Bank | 28 | 11.5% | |
| 2 | Southwest Heritage Bank | 23 | 9.4% | |
| 3 | Glacier Bank | 14 | 5.7% | |
| 4 | Arizona Financial Credit Union | 14 | 5.7% | |
| 5 | Bell Bank | 13 | 5.3% | |
| 6 | First International Bank and Trust | 8 | 3.3% | |
| 7 | Zions Bank, A Division of | 8 | 3.3% | |
| 8 | Desert Financial Credit Union | 8 | 3.3% | |
| 9 | Sunflower Bank National Association | 7 | 2.9% | |
| 10 | First Interstate Bank | 7 | 2.9% |
Questions and answers
How many SBA loans does Arizona Capital Source make?
SBA approved 32 504 loans through Arizona Capital Source in FY2025, worth $35.4M, and 244 over FY2021 to FY2025. That ranks 39th of 182 active CDCs by number of approvals.
How large are Arizona Capital Source's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $557K and the average $913K. The program-wide median was $657K.
What is Arizona Capital Source's charge-off rate?
Of 757 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (1.2%), 447 as paid in full and 301 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Arizona Capital Source lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (16); offices of other health practitioners (14); traveler accommodation (13); offices of physicians (11).
Where does Arizona Capital Source make SBA loans?
In 4 states and territories. Arizona 241, New Mexico 1, California 1, Texas 1. In Arizona it accounts for 23.0% of all 504 approvals.
Is Arizona Capital Source's SBA lending rising?
Approvals in the three latest complete fiscal years total 99, against 231 in the three before: falling (-57%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error