Lenders › Carolina Small Business Development Fund
7(a) lenderRaleigh, North Carolinanon-bank 7(a) lender464th of 2,184 by approvals
Carolina Small Business Development Fund
SBA 7(a) 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.
In FY2021 to FY2025 SBA approved 58 7(a) loans, worth $12.0M, through Carolina Small Business Development Fund of Raleigh, North Carolina, a non-bank 7(a) lender in the SBA 7(a) program. By number of approvals that is 464th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 11 approvals totalling $2.4M, down 48% on FY2024 (21). FY2026 to 30 Jun 2026 adds 7 more.
The median approval was $193K, against $190K for the 7(a) program as a whole; 34.5% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 1 state or territory and 24 counties, led by North Carolina (100.0%). The largest industry group was accommodation and food services at 20.7% of approvals, and 12.1% of approvals were to franchise businesses.
Of 156 disbursed loans approved in FY2010 to FY2021, SBA records 16 as charged off (10.3%), 97 as paid in full and 43 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above 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* | 7 | $1.3M | $177K | $184K | 32 |
| FY2025 | 11 | $2.4M | $185K | $215K | 62 |
| FY2024 | 21 | $5.0M | $239K | $237K | 173 |
| FY2023 | 20 | $3.9M | $151K | $193K | 219 |
| FY2022 | 6 | $796K | $113K | $133K | 47 |
| FY2021 | 0 | — | — | — | 0 |
| FY2020 | 9 | $1.3M | $120K | $143K | 47 |
| FY2019 | 9 | $1.1M | $100K | $128K | 42 |
| FY2018 | 29 | $3.8M | $129K | $131K | 219 |
| FY2017 | 37 | $4.4M | $105K | $119K | 461 |
| FY2016 | 36 | $4.2M | $88K | $116K | 259 |
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 120 approvals. First approval on file: FY2013.
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 | 7(a) program |
|---|---|---|---|
| Approvals in these years | 182 | 12,808 | 639,905 |
| Cancelled or never disbursed | 26 | 1,480 | 79,313 |
| Disbursed loans | 156 | 11,328 | 560,592 |
| Paid in full | 97 | 8,649 | 435,813 |
| Charged off | 16 | 705 | 36,891 |
| Still outstanding (status exempt from disclosure) | 43 | 1,974 | 87,888 |
| Charged off, share of disbursed loans | 10.3% | 6.2% | 6.6% |
| Dollars charged off, share of disbursed dollars | 7.0% | 1.8% | 2.5% |
| Dollars charged off | $1.3M | $111M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 0 | 0 | 0 | — | 2.8% |
| FY2020 | 7 | 3 | 0 | — | 4.0% |
| FY2019 | 8 | 5 | 0 | — | 6.7% |
| FY2018 | 27 | 17 | 2 | — | 7.9% |
| FY2017 | 31 | 16 | 2 | 6.5% | 7.7% |
| FY2016 | 32 | 25 | 2 | 6.3% | 7.2% |
| FY2015 | 44 | 27 | 8 | 18.2% | 6.9% |
| FY2014 | 5 | 2 | 2 | — | 6.4% |
| FY2013 | 2 | 2 | 0 | — | 6.0% |
| FY2012 | 0 | 0 | 0 | — | 6.3% |
| FY2011 | 0 | 0 | 0 | — | 6.9% |
| FY2010 | 0 | 0 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $193K | $190K |
| Average approval | $207K | $518K |
| Approvals of $150,000 or less | 34.5% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 77.6% | 34.3% |
| Approvals to franchise businesses | 12.1% | 11.5% |
| Jobs supported per approval, as reported | 8.6 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 10.3% | 6.6% |
States served
| # | State of the business (1 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Carolina | 58 | $12.0M | 100.0% |
In North Carolina the lender accounts for 0.8% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (24 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wake County, NC | 13 | $2.3M | 22.4% | |
| 2 | Mecklenburg County, NC | 11 | $2.5M | 19.0% | |
| 3 | Durham County, NC | 5 | $1.0M | 8.6% | |
| 4 | Buncombe County, NC | 4 | $844K | 6.9% | |
| 5 | Johnston County, NC | 3 | $524K | 5.2% | |
| 6 | Brunswick County, NC | 2 | — | 3.4% | |
| 7 | New Hanover County, NC | 2 | — | 3.4% | |
| 8 | Alamance County, NC | 2 | — | 3.4% | |
| 9 | Pender County, NC | 1 | — | 1.7% | |
| 10 | Transylvania County, NC | 1 | — | 1.7% | |
| 11 | Union County, NC | 1 | — | 1.7% | |
| 12 | Guilford County, NC | 1 | — | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 12 | 20.7% | |
| 2 | Health Care and Social Assistance | 8 | 13.8% | |
| 3 | Retail Trade | 6 | 10.3% | |
| 4 | Transportation and Warehousing | 6 | 10.3% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 6 | 10.3% | |
| 6 | Construction | 5 | 8.6% | |
| 7 | Arts, Entertainment, and Recreation | 4 | 6.9% | |
| 8 | Manufacturing | 4 | 6.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 15.5% | |
| 2 | Health and Personal Care RetailersNAICS 4561 | 3 | 5.2% | |
| 3 | Personal Care ServicesNAICS 8121 | 3 | 5.2% | |
| 4 | Offices of PhysiciansNAICS 6211 | 3 | 5.2% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 3.4% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.4% | |
| 7 | Specialized Freight TruckingNAICS 4842 | 2 | 3.4% | |
| 8 | Child Day Care ServicesNAICS 6244 | 2 | 3.4% | |
| 9 | Employment ServicesNAICS 5613 | 2 | 3.4% | |
| 10 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 2 | 3.4% |
Approval sizes
- $50,001 to $150,00034.5%20
- $150,001 to $350,00065.5%38
Loan terms
- 5 years or less1.7%1
- Over 5 to 10 years86.2%50
- Over 10 to 20 years12.1%7
Age of the businesses
- Existing, more than 2 years old20.7%12
- Startup, loan funds will open the business77.6%45
- Change of ownership1.7%1
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 32 | 55.2% | |
| 2 | Community Advantage Initiative | 26 | 44.8% |
Franchise share
7 of 58 approvals in FY2021–FY2025 (12.1%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | 101 Mobility | 2 | 3.4% | |
| 2 | Just Love Coffee Cafe | 1 | 1.7% | |
| 3 | PizzaForno | 1 | 1.7% | |
| 4 | Tempory Wall Systems | 1 | 1.7% | |
| 5 | Abbott's Frozen Custard | 1 | 1.7% | |
| 6 | SUPPLY POINTe | 1 | 1.7% |
Questions and answers
How many SBA loans does Carolina Small Business Development Fund make?
SBA approved 11 7(a) loans through Carolina Small Business Development Fund in FY2025, worth $2.4M, and 58 over FY2021 to FY2025. That ranks 464th of 2,184 active 7(a) lenders by number of approvals.
How large are Carolina Small Business Development Fund's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $193K and the average $207K. The program-wide median was $190K.
What is Carolina Small Business Development Fund's charge-off rate?
Of 156 disbursed loans approved in FY2010 to FY2021, SBA records 16 as charged off (10.3%), 97 as paid in full and 43 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above 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 Carolina Small Business Development Fund lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (9); health and personal care retailers (3); personal care services (3); offices of physicians (3).
Where does Carolina Small Business Development Fund make SBA loans?
In 1 state or territory. North Carolina 58. In North Carolina it accounts for 0.8% of all 7(a) approvals.
Is Carolina Small Business Development Fund's SBA lending rising?
Approvals in the three latest complete fiscal years total 52, against 15 in the three before: rising (+247%).
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