Lenders › Business Expansion Funding Corporation
504 CDCCharlotte, North Carolinacertified development company28th of 182 by approvals
Business Expansion Funding Corporation
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.
Business Expansion Funding Corporation (Charlotte, North Carolina) is a certified development company (CDC) that makes SBA 504 loans, 28th of 182 by approvals in FY2021 to FY2025: 323 loans worth $371M.
In FY2025, the latest complete fiscal year, it had 59 approvals totalling $87.8M, up 13% on FY2024 (52). FY2026 to 30 Jun 2026 adds 38 more.
The median approval was $754K, against $657K for the 504 program as a whole; 2.2% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 3 states and territories and 51 counties, led by North Carolina (96.6%), South Carolina (3.1%) and Virginia (0.3%). The largest industry group was health care and social assistance at 18.0% of approvals, and 9.0% of approvals were to franchise businesses.
Of 699 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (0.7%), 342 as paid in full and 352 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* | 38 | $49.2M | $1.0M | $1.3M | 638 |
| FY2025 | 59 | $87.8M | $942K | $1.5M | 1,029 |
| FY2024 | 52 | $78.1M | $1.3M | $1.5M | 608 |
| FY2023 | 45 | $52.5M | $739K | $1.2M | 578 |
| FY2022 | 78 | $83.0M | $753K | $1.1M | 875 |
| FY2021 | 89 | $69.2M | $493K | $777K | 874 |
| FY2020 | 65 | $57.4M | $563K | $882K | 494 |
| FY2019 | 51 | $32.8M | $537K | $643K | 455 |
| FY2018 | 48 | $42.1M | $518K | $876K | 550 |
| FY2017 | 79 | $69.4M | $539K | $878K | 787 |
| FY2016 | 73 | $57.4M | $395K | $787K | 751 |
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 316 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 | North Carolina | 504 program |
|---|---|---|---|
| Approvals in these years | 827 | 1,195 | 85,591 |
| Cancelled or never disbursed | 128 | 215 | 12,514 |
| Disbursed loans | 699 | 980 | 73,077 |
| Paid in full | 342 | 542 | 35,491 |
| Charged off | 5 | 11 | 905 |
| Still outstanding (status exempt from disclosure) | 352 | 427 | 36,681 |
| Charged off, share of disbursed loans | 0.7% | 1.1% | 1.2% |
| Dollars charged off, share of disbursed dollars | 1.1% | 1.2% | 0.9% |
| Dollars charged off | $5.2M | $7.9M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 69 | 7 | 0 | 0.0% | 0.1% |
| FY2020 | 54 | 17 | 0 | 0.0% | 0.1% |
| FY2019 | 42 | 12 | 0 | 0.0% | 0.3% |
| FY2018 | 42 | 14 | 0 | 0.0% | 0.4% |
| FY2017 | 67 | 23 | 1 | 1.5% | 0.8% |
| FY2016 | 64 | 31 | 1 | 1.6% | 1.0% |
| FY2015 | 52 | 28 | 0 | 0.0% | 1.2% |
| FY2014 | 58 | 43 | 0 | 0.0% | 1.3% |
| FY2013 | 72 | 48 | 0 | 0.0% | 1.4% |
| FY2012 | 72 | 45 | 1 | 1.4% | 2.0% |
| FY2011 | 57 | 38 | 1 | 1.8% | 2.1% |
| FY2010 | 50 | 36 | 1 | 2.0% | 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 | $754K | $657K |
| Average approval | $1.1M | $1.0M |
| Approvals of $150,000 or less | 2.2% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 18.6% | 14.4% |
| Approvals to franchise businesses | 9.0% | 9.0% |
| Jobs supported per approval, as reported | 12.3 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 0.7% | 1.2% |
States served
| # | State of the business (3 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Carolina | 312 | $355M | 96.6% | |
| 2 | South Carolina | 10 | $13.6M | 3.1% | |
| 3 | Virginia | 1 | — | 0.3% |
In North Carolina the lender accounts for 66.7% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (51 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Mecklenburg County, NC | 55 | $80.3M | 17.0% | |
| 2 | Wake County, NC | 49 | $58.1M | 15.2% | |
| 3 | Guilford County, NC | 19 | $28.3M | 5.9% | |
| 4 | New Hanover County, NC | 14 | $17.6M | 4.3% | |
| 5 | Iredell County, NC | 13 | $16.3M | 4.0% | |
| 6 | Buncombe County, NC | 13 | $15.0M | 4.0% | |
| 7 | Durham County, NC | 13 | $11.3M | 4.0% | |
| 8 | York County, SC | 10 | $13.6M | 3.1% | |
| 9 | Union County, NC | 10 | $10.6M | 3.1% | |
| 10 | Forsyth County, NC | 9 | $13.2M | 2.8% | |
| 11 | Johnston County, NC | 7 | $7.0M | 2.2% | |
| 12 | Onslow County, NC | 7 | $6.1M | 2.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 58 | 18.0% | |
| 2 | Accommodation and Food Services | 56 | 17.3% | |
| 3 | Manufacturing | 41 | 12.7% | |
| 4 | Retail Trade | 36 | 11.1% | |
| 5 | Other Services (except Public Administration) | 27 | 8.4% | |
| 6 | Construction | 23 | 7.1% | |
| 7 | Professional, Scientific, and Technical Services | 22 | 6.8% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 16 | 5.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Child Day Care ServicesNAICS 6244 | 27 | 8.4% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 27 | 8.4% | |
| 3 | Traveler AccommodationNAICS 7211 | 23 | 7.1% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 17 | 5.3% | |
| 5 | Beverage ManufacturingNAICS 3121 | 15 | 4.6% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 14 | 4.3% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 13 | 4.0% | |
| 8 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 7 | 2.2% | |
| 9 | Building Equipment ContractorsNAICS 2382 | 7 | 2.2% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 5 | 1.5% |
Approval sizes
- $50,001 to $150,0002.2%7
- $150,001 to $350,00020.7%67
- $350,001 to $1 million35.3%114
- $1 million to $2 million24.5%79
- Over $2 million17.3%56
Loan terms
- Over 5 to 10 years0.6%2
- Over 10 to 20 years5.3%17
- Over 20 years94.1%304
Age of the businesses
- Existing, more than 2 years old78.0%252
- New business, 2 years or less0.6%2
- Startup, loan funds will open the business18.0%58
- Change of ownership3.4%11
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 236 | 73.1% | |
| 2 | 504 Refinancing Program | 32 | 9.9% | |
| 3 | 504 Basic | 31 | 9.6% | |
| 4 | ALP Express | 24 | 7.4% |
Franchise share
29 of 323 approvals in FY2021–FY2025 (9.0%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Primrose Schools | 3 | 0.9% | |
| 2 | Comfort Suites by Choice Hotels | 2 | 0.6% | |
| 3 | Culver's ButterBurgers & Frozen Custard | 2 | 0.6% | |
| 4 | The Learning Experience | 2 | 0.6% | |
| 5 | Ace Hardware | 1 | 0.3% | |
| 6 | Holiday Inn Express | 1 | 0.3% | |
| 7 | LeafSpring School | 1 | 0.3% | |
| 8 | Legions Brewing Company | 1 | 0.3% |
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 | The Fidelity Bank | 55 | 17.0% | |
| 2 | TowneBank | 34 | 10.5% | |
| 3 | Truist Bank | 12 | 3.7% | |
| 4 | BANK OF AMERICA N.A. | 12 | 3.7% | |
| 5 | Southern Bank and Trust Company | 11 | 3.4% | |
| 6 | First National Bank of Pennsylvania | 9 | 2.8% | |
| 7 | First Bank | 8 | 2.5% | |
| 8 | Live Oak Banking Company | 7 | 2.2% | |
| 9 | United Community Bank | 7 | 2.2% | |
| 10 | PNC Bank, National Association | 7 | 2.2% |
Questions and answers
How many SBA loans does Business Expansion Funding Corporation make?
SBA approved 59 504 loans through Business Expansion Funding Corporation in FY2025, worth $87.8M, and 323 over FY2021 to FY2025. That ranks 28th of 182 active CDCs by number of approvals.
How large are Business Expansion Funding Corporation's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $754K and the average $1.1M. The program-wide median was $657K.
What is Business Expansion Funding Corporation's charge-off rate?
Of 699 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (0.7%), 342 as paid in full and 352 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 Business Expansion Funding Corporation lend to most?
By number of approvals in FY2021 to FY2025: child day care services (27); restaurants and other eating places (27); traveler accommodation (23); automotive repair and maintenance (17).
Where does Business Expansion Funding Corporation make SBA loans?
In 3 states and territories. North Carolina 312, South Carolina 10, Virginia 1. In North Carolina it accounts for 66.7% of all 504 approvals.
Is Business Expansion Funding Corporation's SBA lending rising?
Approvals in the three latest complete fiscal years total 156, against 232 in the three before: falling (-33%).
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