Lenders › Business Finance Capital
504 CDCLos Angeles, Californiacertified development company4th of 182 by approvals
Business Finance Capital
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 Finance Capital, based in Los Angeles, California, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 1,450 of its 504 loans worth $1.87bn in FY2021 to FY2025, which places it 4th of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 303 approvals totalling $385M, up 13% on FY2024 (269). FY2026 to 30 Jun 2026 adds 241 more.
The median approval was $937K, against $657K for the 504 program as a whole; 0.4% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 6 states and territories and 42 counties, led by California (99.5%), Hawaii (0.2%) and Nevada (0.1%). The largest industry group was wholesale trade at 14.0% of approvals, and 2.6% of approvals were to franchise businesses.
Of 1,233 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (0.6%), 466 as paid in full and 760 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* | 241 | $329M | $957K | $1.4M | 2,393 |
| FY2025 | 303 | $385M | $946K | $1.3M | 2,480 |
| FY2024 | 269 | $361M | $1.0M | $1.3M | 2,638 |
| FY2023 | 217 | $285M | $862K | $1.3M | 2,413 |
| FY2022 | 325 | $414M | $892K | $1.3M | 2,462 |
| FY2021 | 336 | $427M | $909K | $1.3M | 2,433 |
| FY2020 | 227 | $293M | $935K | $1.3M | 1,357 |
| FY2019 | 177 | $191M | $753K | $1.1M | 1,026 |
| FY2018 | 121 | $135M | $780K | $1.1M | 634 |
| FY2017 | 134 | $187M | $1.0M | $1.4M | 960 |
| FY2016 | 101 | $106M | $787K | $1.0M | 671 |
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 760 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 | California | 504 program |
|---|---|---|---|
| Approvals in these years | 1,452 | 16,149 | 85,591 |
| Cancelled or never disbursed | 219 | 1,904 | 12,514 |
| Disbursed loans | 1,233 | 14,245 | 73,077 |
| Paid in full | 466 | 7,213 | 35,491 |
| Charged off | 7 | 54 | 905 |
| Still outstanding (status exempt from disclosure) | 760 | 6,978 | 36,681 |
| Charged off, share of disbursed loans | 0.6% | 0.4% | 1.2% |
| Dollars charged off, share of disbursed dollars | 0.4% | 0.3% | 0.9% |
| Dollars charged off | $5.4M | $38.6M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 296 | 33 | 1 | 0.3% | 0.1% |
| FY2020 | 188 | 33 | 0 | 0.0% | 0.1% |
| FY2019 | 155 | 42 | 1 | 0.6% | 0.3% |
| FY2018 | 102 | 38 | 1 | 1.0% | 0.4% |
| FY2017 | 111 | 58 | 1 | 0.9% | 0.8% |
| FY2016 | 88 | 49 | 0 | 0.0% | 1.0% |
| FY2015 | 75 | 43 | 1 | 1.3% | 1.2% |
| FY2014 | 47 | 38 | 0 | 0.0% | 1.3% |
| FY2013 | 90 | 69 | 1 | 1.1% | 1.4% |
| FY2012 | 72 | 56 | 1 | 1.4% | 2.0% |
| FY2011 | 5 | 4 | 0 | — | 2.1% |
| FY2010 | 4 | 3 | 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 | $937K | $657K |
| Average approval | $1.3M | $1.0M |
| Approvals of $150,000 or less | 0.4% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 3.9% | 14.4% |
| Approvals to franchise businesses | 2.6% | 9.0% |
| Jobs supported per approval, as reported | 8.6 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 0.6% | 1.2% |
States served
| # | State of the business (6 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 1,443 | $1.86bn | 99.5% | |
| 2 | Hawaii | 3 | $4.1M | 0.2% | |
| 3 | Nevada | 1 | — | 0.1% | |
| 4 | Florida | 1 | — | 0.1% | |
| 5 | Georgia | 1 | — | 0.1% | |
| 6 | Arizona | 1 | — | 0.1% |
In California the lender accounts for 20.0% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (42 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Los Angeles County, CA | 689 | $969M | 47.5% | |
| 2 | Orange County, CA | 169 | $235M | 11.7% | |
| 3 | Riverside County, CA | 141 | $153M | 9.7% | |
| 4 | San Bernardino County, CA | 101 | $149M | 7.0% | |
| 5 | San Diego County, CA | 75 | $69.8M | 5.2% | |
| 6 | Ventura County, CA | 50 | $51.4M | 3.4% | |
| 7 | Alameda County, CA | 32 | $32.1M | 2.2% | |
| 8 | Santa Clara County, CA | 31 | $43.7M | 2.1% | |
| 9 | Santa Cruz County, CA | 21 | $16.8M | 1.4% | |
| 10 | Contra Costa County, CA | 15 | $10.9M | 1.0% | |
| 11 | San Francisco County, CA | 14 | $15.4M | 1.0% | |
| 12 | San Mateo County, CA | 12 | $15.6M | 0.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Wholesale Trade | 203 | 14.0% | |
| 2 | Health Care and Social Assistance | 175 | 12.1% | |
| 3 | Professional, Scientific, and Technical Services | 173 | 11.9% | |
| 4 | Retail Trade | 161 | 11.1% | |
| 5 | Manufacturing | 156 | 10.8% | |
| 6 | Construction | 138 | 9.5% | |
| 7 | Other Services (except Public Administration) | 113 | 7.8% | |
| 8 | Accommodation and Food Services | 84 | 5.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 66 | 4.6% | |
| 2 | Offices of PhysiciansNAICS 6211 | 58 | 4.0% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 53 | 3.7% | |
| 4 | Building Equipment ContractorsNAICS 2382 | 47 | 3.2% | |
| 5 | Legal ServicesNAICS 5411 | 46 | 3.2% | |
| 6 | Offices of DentistsNAICS 6212 | 40 | 2.8% | |
| 7 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 39 | 2.7% | |
| 8 | General Freight TruckingNAICS 4841 | 36 | 2.5% | |
| 9 | Apparel, Piece Goods, and Notions Merchant WholesalersNAICS 4243 | 35 | 2.4% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 32 | 2.2% |
Approval sizes
- $50,001 to $150,0000.4%6
- $150,001 to $350,0009.3%135
- $350,001 to $1 million43.4%629
- $1 million to $2 million28.0%406
- Over $2 million18.9%274
Loan terms
- Over 5 to 10 years0.1%2
- Over 10 to 20 years0.6%8
- Over 20 years99.3%1,440
Age of the businesses
- Existing, more than 2 years old95.3%1,382
- New business, 2 years or less0.7%10
- Startup, loan funds will open the business3.2%47
- Change of ownership0.8%11
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 504 Basic | 924 | 63.7% | |
| 2 | Accredited Lenders Program | 384 | 26.5% | |
| 3 | 504 Refinancing Program | 112 | 7.7% | |
| 4 | ALP Express | 24 | 1.7% | |
| 5 | ALP Express Debt Refi | 6 | 0.4% |
Franchise share
38 of 1,450 approvals in FY2021–FY2025 (2.6%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Best Western | 3 | 0.2% | |
| 2 | Fix Auto | 2 | 0.1% | |
| 3 | Shleppers | 2 | 0.1% | |
| 4 | Sonesta ES Suites | 1 | 0.1% | |
| 5 | Home 2 Suites by Hilton | 1 | 0.1% | |
| 6 | Hampton Inn & Suites by Hilton | 1 | 0.1% | |
| 7 | Comfort Inn | 1 | 0.1% | |
| 8 | Rodeway Inn | 1 | 0.1% |
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-Citizens Bank & Trust Company | 260 | 17.9% | |
| 2 | Wells Fargo Bank National Association | 100 | 6.9% | |
| 3 | Bank of America, National Association | 90 | 6.2% | |
| 4 | City National Bank | 67 | 4.6% | |
| 5 | U.S. Bank, National Association | 56 | 3.9% | |
| 6 | JPMorgan Chase Bank, National Association | 56 | 3.9% | |
| 7 | Poppy Bank | 50 | 3.4% | |
| 8 | CalPrivate Bank | 48 | 3.3% | |
| 9 | Zions Bank, A Division of | 46 | 3.2% | |
| 10 | California Bank of Commerce, NA | 43 | 3.0% |
Questions and answers
How many SBA loans does Business Finance Capital make?
SBA approved 303 504 loans through Business Finance Capital in FY2025, worth $385M, and 1,450 over FY2021 to FY2025. That ranks 4th of 182 active CDCs by number of approvals.
How large are Business Finance Capital's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $937K and the average $1.3M. The program-wide median was $657K.
What is Business Finance Capital's charge-off rate?
Of 1,233 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (0.6%), 466 as paid in full and 760 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 Finance Capital lend to most?
By number of approvals in FY2021 to FY2025: automotive repair and maintenance (66); offices of physicians (58); restaurants and other eating places (53); building equipment contractors (47).
Where does Business Finance Capital make SBA loans?
In 6 states and territories. California 1,443, Hawaii 3, Nevada 1, Florida 1, Georgia 1. In California it accounts for 20.0% of all 504 approvals.
Is Business Finance Capital's SBA lending rising?
Approvals in the three latest complete fiscal years total 789, against 888 in the three before: falling (-11%).
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