Lenders › Empire State Certified Development Corporation
504 CDCLatham, New Yorkcertified development company5th of 182 by approvals
Empire State Certified Development 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.
In FY2021 to FY2025 SBA approved 1,395 504 loans, worth $1.62bn, through Empire State Certified Development Corporation of Latham, New York, a certified development company (CDC) that makes SBA 504 loans. By number of approvals that is 5th among 182 active CDCs.
In FY2025, the latest complete fiscal year, it had 230 approvals totalling $272M, about level with FY2024 (215). FY2026 to 30 Jun 2026 adds 136 more.
The median approval was $716K, against $657K for the 504 program as a whole; 3.9% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 5 states and territories and 117 counties, led by New York (72.3%), Pennsylvania (15.7%) and New Jersey (11.8%). The largest industry group was accommodation and food services at 15.0% of approvals, and 8.5% of approvals were to franchise businesses.
Of 2,426 disbursed loans approved in FY2010 to FY2021, SBA records 54 as charged off (2.2%), 1,003 as paid in full and 1,369 still outstanding; the 504 program figure for the same approval years is 1.2%, 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* | 136 | $160M | $663K | $1.2M | 943 |
| FY2025 | 230 | $272M | $739K | $1.2M | 2,067 |
| FY2024 | 215 | $265M | $786K | $1.2M | 1,956 |
| FY2023 | 226 | $291M | $910K | $1.3M | 1,897 |
| FY2022 | 377 | $432M | $670K | $1.1M | 2,922 |
| FY2021 | 347 | $363M | $619K | $1.0M | 2,261 |
| FY2020 | 245 | $247M | $613K | $1.0M | 1,237 |
| FY2019 | 213 | $200M | $594K | $941K | 1,297 |
| FY2018 | 213 | $223M | $668K | $1.0M | 2,062 |
| FY2017 | 222 | $228M | $699K | $1.0M | 1,832 |
| FY2016 | 191 | $203M | $677K | $1.1M | 1,881 |
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 1,084 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 | New York | 504 program |
|---|---|---|---|
| Approvals in these years | 3,006 | 2,827 | 85,591 |
| Cancelled or never disbursed | 580 | 525 | 12,514 |
| Disbursed loans | 2,426 | 2,302 | 73,077 |
| Paid in full | 1,003 | 984 | 35,491 |
| Charged off | 54 | 51 | 905 |
| Still outstanding (status exempt from disclosure) | 1,369 | 1,267 | 36,681 |
| Charged off, share of disbursed loans | 2.2% | 2.2% | 1.2% |
| Dollars charged off, share of disbursed dollars | 1.4% | 1.5% | 0.9% |
| Dollars charged off | $31.5M | $31.2M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 288 | 27 | 1 | 0.3% | 0.1% |
| FY2020 | 204 | 34 | 0 | 0.0% | 0.1% |
| FY2019 | 177 | 24 | 0 | 0.0% | 0.3% |
| FY2018 | 171 | 46 | 1 | 0.6% | 0.4% |
| FY2017 | 173 | 59 | 6 | 3.5% | 0.8% |
| FY2016 | 145 | 56 | 3 | 2.1% | 1.0% |
| FY2015 | 191 | 87 | 1 | 0.5% | 1.2% |
| FY2014 | 190 | 105 | 3 | 1.6% | 1.3% |
| FY2013 | 196 | 106 | 5 | 2.6% | 1.4% |
| FY2012 | 252 | 168 | 13 | 5.2% | 2.0% |
| FY2011 | 231 | 146 | 10 | 4.3% | 2.1% |
| FY2010 | 208 | 145 | 11 | 5.3% | 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 | $716K | $657K |
| Average approval | $1.2M | $1.0M |
| Approvals of $150,000 or less | 3.9% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 16.3% | 14.4% |
| Approvals to franchise businesses | 8.5% | 9.0% |
| Jobs supported per approval, as reported | 8.0 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 2.2% | 1.2% |
States served
| # | State of the business (5 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New York | 1,009 | $1.13bn | 72.3% | |
| 2 | Pennsylvania | 219 | $241M | 15.7% | |
| 3 | New Jersey | 165 | $249M | 11.8% | |
| 4 | California | 1 | — | 0.1% | |
| 5 | Tennessee | 1 | — | 0.1% |
In New York the lender accounts for 79.5% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (117 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Suffolk County, NY | 148 | $186M | 10.6% | |
| 2 | Kings County, NY | 85 | $143M | 6.1% | |
| 3 | Erie County, NY | 85 | $61.6M | 6.1% | |
| 4 | Nassau County, NY | 73 | $74.5M | 5.2% | |
| 5 | Queens County, NY | 69 | $95.9M | 4.9% | |
| 6 | New York County, NY | 51 | $91.7M | 3.7% | |
| 7 | Saratoga County, NY | 50 | $51.4M | 3.6% | |
| 8 | Monroe County, NY | 39 | $24.6M | 2.8% | |
| 9 | Albany County, NY | 38 | $27.6M | 2.7% | |
| 10 | Westchester County, NY | 37 | $36.5M | 2.7% | |
| 11 | Onondaga County, NY | 36 | $32.2M | 2.6% | |
| 12 | Bucks County, PA | 34 | $27.9M | 2.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 209 | 15.0% | |
| 2 | Retail Trade | 192 | 13.8% | |
| 3 | Health Care and Social Assistance | 161 | 11.5% | |
| 4 | Other Services (except Public Administration) | 138 | 9.9% | |
| 5 | Manufacturing | 127 | 9.1% | |
| 6 | Wholesale Trade | 120 | 8.6% | |
| 7 | Construction | 110 | 7.9% | |
| 8 | Professional, Scientific, and Technical Services | 108 | 7.7% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 122 | 8.7% | |
| 2 | Traveler AccommodationNAICS 7211 | 65 | 4.7% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 53 | 3.8% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 50 | 3.6% | |
| 5 | Offices of PhysiciansNAICS 6211 | 45 | 3.2% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 42 | 3.0% | |
| 7 | Legal ServicesNAICS 5411 | 37 | 2.7% | |
| 8 | Child Day Care ServicesNAICS 6244 | 34 | 2.4% | |
| 9 | Building Equipment ContractorsNAICS 2382 | 34 | 2.4% | |
| 10 | Other Specialty Trade ContractorsNAICS 2389 | 31 | 2.2% |
Approval sizes
- $50,000 or less0.1%1
- $50,001 to $150,0003.8%53
- $150,001 to $350,00019.6%274
- $350,001 to $1 million37.3%520
- $1 million to $2 million22.4%312
- Over $2 million16.8%235
Loan terms
- Over 5 to 10 years1.5%21
- Over 10 to 20 years12.7%177
- Over 20 years85.8%1,197
Age of the businesses
- Existing, more than 2 years old80.9%1,129
- New business, 2 years or less1.0%14
- Startup, loan funds will open the business15.3%213
- Change of ownership2.8%39
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 1,112 | 79.7% | |
| 2 | ALP Express | 158 | 11.3% | |
| 3 | 504 Refinancing Program | 107 | 7.7% | |
| 4 | 504 Basic | 15 | 1.1% | |
| 5 | ALP Express Debt Refi | 3 | 0.2% |
Franchise share
119 of 1,395 approvals in FY2021–FY2025 (8.5%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Primrose Schools | 6 | 0.4% | |
| 2 | The Goddard School | 4 | 0.3% | |
| 3 | Sunoco, LLC | 4 | 0.3% | |
| 4 | Napa AutoCare Program Membership Agreement | 4 | 0.3% | |
| 5 | Courtyard by Marriott | 3 | 0.2% | |
| 6 | Holiday Inn | 3 | 0.2% | |
| 7 | Hampton Inn by Hilton | 3 | 0.2% | |
| 8 | Hampton Inn & Suites by Hilton | 3 | 0.2% |
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 | M&T Bank Corporation | 124 | 8.9% | |
| 2 | JPMorgan Chase Bank, National Association | 98 | 7.0% | |
| 3 | Dime Commercial Bank | 70 | 5.0% | |
| 4 | OceanFirst Bank, National Association | 52 | 3.7% | |
| 5 | Bank of America, National Association | 47 | 3.4% | |
| 6 | KeyBank National Association | 47 | 3.4% | |
| 7 | TD Bank, National Association | 42 | 3.0% | |
| 8 | NBT Bank, National Association | 41 | 2.9% | |
| 9 | Manufacturers and Traders Trust Company | 37 | 2.7% | |
| 10 | Wells Fargo Bank National Association | 30 | 2.2% |
Questions and answers
How many SBA loans does Empire State Certified Development Corporation make?
SBA approved 230 504 loans through Empire State Certified Development Corporation in FY2025, worth $272M, and 1,395 over FY2021 to FY2025. That ranks 5th of 182 active CDCs by number of approvals.
How large are Empire State Certified Development Corporation's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $716K and the average $1.2M. The program-wide median was $657K.
What is Empire State Certified Development Corporation's charge-off rate?
Of 2,426 disbursed loans approved in FY2010 to FY2021, SBA records 54 as charged off (2.2%), 1,003 as paid in full and 1,369 still outstanding; the 504 program figure for the same approval years is 1.2%, 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 Empire State Certified Development Corporation lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (122); traveler accommodation (65); other amusement and recreation industries (53); automotive repair and maintenance (50).
Where does Empire State Certified Development Corporation make SBA loans?
In 5 states and territories. New York 1,009, Pennsylvania 219, New Jersey 165, California 1, Tennessee 1. In New York it accounts for 79.5% of all 504 approvals.
Is Empire State Certified Development Corporation's SBA lending rising?
Approvals in the three latest complete fiscal years total 671, against 969 in the three before: falling (-31%).
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