Lenders › FinWise Bank
7(a) lenderSandy, UtahFDIC-insured bank69th of 2,184 by approvals
FinWise Bank
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 564 7(a) loans, worth $705M, through FinWise Bank of Sandy, Utah, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 69th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 89 approvals totalling $97.9M, down 8% on FY2024 (97). FY2026 to 30 Jun 2026 adds 51 more.
The median approval was $718K, against $190K for the 7(a) program as a whole; 9.2% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 27 states and territories and 115 counties, led by New York (55.0%), New Jersey (16.5%) and Florida (6.7%). The largest industry group was retail trade at 26.1% of approvals, and 0.2% of approvals were to franchise businesses.
Of 496 disbursed loans approved in FY2010 to FY2021, SBA records 20 as charged off (4.0%), 288 as paid in full and 188 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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* | 51 | $52.1M | $350K | $1.0M | 1,042 |
| FY2025 | 89 | $97.9M | $400K | $1.1M | 1,657 |
| FY2024 | 97 | $80.8M | $350K | $833K | 1,314 |
| FY2023 | 106 | $136M | $690K | $1.3M | 2,249 |
| FY2022 | 122 | $186M | $1.0M | $1.5M | 1,549 |
| FY2021 | 150 | $204M | $781K | $1.4M | 2,269 |
| FY2020 | 68 | $79.9M | $875K | $1.2M | 530 |
| FY2019 | 85 | $93.3M | $550K | $1.1M | 846 |
| FY2018 | 124 | $77.0M | $350K | $621K | 1,041 |
| FY2017 | 65 | $42.7M | $215K | $657K | 384 |
| FY2016 | 61 | $28.6M | $200K | $469K | 408 |
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 403 approvals. First approval on file: FY2014.
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 | 7(a) program |
|---|---|---|---|
| Approvals in these years | 585 | 39,899 | 639,905 |
| Cancelled or never disbursed | 89 | 5,223 | 79,313 |
| Disbursed loans | 496 | 34,676 | 560,592 |
| Paid in full | 288 | 26,873 | 435,813 |
| Charged off | 20 | 2,802 | 36,891 |
| Still outstanding (status exempt from disclosure) | 188 | 5,001 | 87,888 |
| Charged off, share of disbursed loans | 4.0% | 8.1% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.7% | 3.2% | 2.5% |
| Dollars charged off | $3.3M | $312M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 131 | 57 | 5 | 3.8% | 2.8% |
| FY2020 | 55 | 27 | 2 | 3.6% | 4.0% |
| FY2019 | 71 | 36 | 1 | 1.4% | 6.7% |
| FY2018 | 105 | 60 | 4 | 3.8% | 7.9% |
| FY2017 | 56 | 40 | 6 | 10.7% | 7.7% |
| FY2016 | 52 | 44 | 2 | 3.8% | 7.2% |
| FY2015 | 23 | 21 | 0 | — | 6.9% |
| FY2014 | 3 | 3 | 0 | — | 6.4% |
| FY2013 | 0 | 0 | 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 | $718K | $190K |
| Average approval | $1.2M | $518K |
| Approvals of $150,000 or less | 9.2% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 8.0% | 34.3% |
| Approvals to franchise businesses | 0.2% | 11.5% |
| Jobs supported per approval, as reported | 16.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.0% | 6.6% |
States served
| # | State of the business (27 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New York | 310 | $380M | 55.0% | |
| 2 | New Jersey | 93 | $134M | 16.5% | |
| 3 | Florida | 38 | $54.9M | 6.7% | |
| 4 | California | 22 | $22.6M | 3.9% | |
| 5 | Pennsylvania | 18 | $24.7M | 3.2% | |
| 6 | Utah | 13 | $15.5M | 2.3% | |
| 7 | Texas | 11 | $12.3M | 2.0% | |
| 8 | Georgia | 9 | $9.3M | 1.6% | |
| 9 | Nevada | 8 | $13.0M | 1.4% | |
| 10 | South Carolina | 5 | $7.8M | 0.9% | |
| 11 | North Carolina | 5 | $4.7M | 0.9% | |
| 12 | Missouri | 4 | $3.6M | 0.7% |
In New York the lender accounts for 1.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (115 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Kings County, NY | 118 | $175M | 20.9% | |
| 2 | Rockland County, NY | 98 | $100M | 17.4% | |
| 3 | Orange County, NY | 53 | $52.6M | 9.4% | |
| 4 | Ocean County, NJ | 31 | $23.4M | 5.5% | |
| 5 | Sullivan County, NY | 15 | $11.5M | 2.7% | |
| 6 | Union County, NJ | 14 | $23.0M | 2.5% | |
| 7 | Los Angeles County, CA | 13 | $12.6M | 2.3% | |
| 8 | Broward County, FL | 12 | $17.9M | 2.1% | |
| 9 | Miami-Dade County, FL | 12 | $8.6M | 2.1% | |
| 10 | Salt Lake County, UT | 9 | $13.7M | 1.6% | |
| 11 | Nassau County, NY | 9 | $12.0M | 1.6% | |
| 12 | Essex County, NJ | 8 | $14.4M | 1.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 147 | 26.1% | |
| 2 | Professional, Scientific, and Technical Services | 75 | 13.3% | |
| 3 | Wholesale Trade | 74 | 13.1% | |
| 4 | Health Care and Social Assistance | 55 | 9.8% | |
| 5 | Construction | 39 | 6.9% | |
| 6 | Manufacturing | 29 | 5.1% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 28 | 5.0% | |
| 8 | Other Services (except Public Administration) | 26 | 4.6% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Miscellaneous RetailersNAICS 4599 | 23 | 4.1% | |
| 2 | Electronic Shopping and Mail-Order HousesNAICS 4541 | 22 | 3.9% | |
| 3 | Legal ServicesNAICS 5411 | 19 | 3.4% | |
| 4 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 18 | 3.2% | |
| 5 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 17 | 3.0% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 14 | 2.5% | |
| 7 | Specialty Food StoresNAICS 4452 | 13 | 2.3% | |
| 8 | Household Appliances and Electrical and Electronic Goods Merchant WholesalersNAICS 4236 | 12 | 2.1% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 12 | 2.1% | |
| 10 | Clothing and Clothing Accessories RetailersNAICS 4581 | 12 | 2.1% |
Approval sizes
- $50,000 or less0.4%2
- $50,001 to $150,0008.9%50
- $150,001 to $350,00031.4%177
- $350,001 to $1 million22.2%125
- $1 million to $2 million16.3%92
- Over $2 million20.9%118
Loan terms
- Over 5 to 10 years64.0%361
- Over 10 to 20 years0.2%1
- Over 20 years35.8%202
Age of the businesses
- Existing, more than 2 years old89.2%503
- New business, 2 years or less7.4%42
- Startup, loan funds will open the business0.5%3
- Change of ownership2.8%16
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 490 | 86.9% | |
| 2 | International Trade Loans | 51 | 9.0% | |
| 3 | Preferred Lenders Program | 23 | 4.1% |
Franchise share
1 of 564 approvals in FY2021–FY2025 (0.2%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Chicken Coop | 1 | 0.2% |
Questions and answers
How many SBA loans does FinWise Bank make?
SBA approved 89 7(a) loans through FinWise Bank in FY2025, worth $97.9M, and 564 over FY2021 to FY2025. That ranks 69th of 2,184 active 7(a) lenders by number of approvals.
How large are FinWise Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $718K and the average $1.2M. The program-wide median was $190K.
What is FinWise Bank's charge-off rate?
Of 496 disbursed loans approved in FY2010 to FY2021, SBA records 20 as charged off (4.0%), 288 as paid in full and 188 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below 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 FinWise Bank lend to most?
By number of approvals in FY2021 to FY2025: other miscellaneous retailers (23); electronic shopping and mail-order houses (22); legal services (19); miscellaneous durable goods merchant wholesalers (18).
Where does FinWise Bank make SBA loans?
In 27 states and territories. New York 310, New Jersey 93, Florida 38, California 22, Pennsylvania 18. In New York it accounts for 1.6% of all 7(a) approvals.
Is FinWise Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 292, against 340 in the three before: falling (-14%).
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