Lenders › First Bank
7(a) lenderSouthern Pines, North CarolinaFDIC-insured bank89th of 2,184 by approvals
First 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 438 7(a) loans, worth $421M, through First Bank of Southern Pines, North Carolina, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 89th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 68 approvals totalling $70.3M, down 21% on FY2024 (86). FY2026 to 30 Jun 2026 adds 27 more.
The median approval was $688K, against $190K for the 7(a) program as a whole; 6.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 37 states and territories and 189 counties, led by North Carolina (30.1%), California (21.7%) and South Carolina (8.0%). The largest industry group was retail trade at 16.0% of approvals, and 14.2% of approvals were to franchise businesses.
Of 956 disbursed loans approved in FY2010 to FY2021, SBA records 54 as charged off (5.6%), 522 as paid in full and 380 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* | 27 | $24.1M | $670K | $893K | 420 |
| FY2025 | 68 | $70.3M | $717K | $1.0M | 1,675 |
| FY2024 | 86 | $80.7M | $571K | $938K | 1,865 |
| FY2023 | 73 | $73.2M | $673K | $1.0M | 1,486 |
| FY2022 | 65 | $61.0M | $750K | $939K | 1,086 |
| FY2021 | 146 | $135M | $683K | $927K | 2,061 |
| FY2020 | 157 | $139M | $513K | $887K | 2,643 |
| FY2019 | 210 | $162M | $515K | $773K | 4,544 |
| FY2018 | 322 | $347M | $671K | $1.1M | 5,690 |
| FY2017 | 114 | $131M | $748K | $1.1M | 2,236 |
| FY2016 | 22 | $25.2M | $549K | $1.1M | 498 |
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 825 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 | 7(a) program |
|---|---|---|---|
| Approvals in these years | 1,078 | 12,808 | 639,905 |
| Cancelled or never disbursed | 122 | 1,480 | 79,313 |
| Disbursed loans | 956 | 11,328 | 560,592 |
| Paid in full | 522 | 8,649 | 435,813 |
| Charged off | 54 | 705 | 36,891 |
| Still outstanding (status exempt from disclosure) | 380 | 1,974 | 87,888 |
| Charged off, share of disbursed loans | 5.6% | 6.2% | 6.6% |
| Dollars charged off, share of disbursed dollars | 3.6% | 1.8% | 2.5% |
| Dollars charged off | $29.5M | $111M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 133 | 38 | 0 | 0.0% | 2.8% |
| FY2020 | 143 | 64 | 3 | 2.1% | 4.0% |
| FY2019 | 184 | 101 | 11 | 6.0% | 6.7% |
| FY2018 | 276 | 139 | 36 | 13.0% | 7.9% |
| FY2017 | 101 | 70 | 2 | 2.0% | 7.7% |
| FY2016 | 22 | 15 | 1 | — | 7.2% |
| FY2015 | 10 | 10 | 0 | — | 6.9% |
| FY2014 | 12 | 12 | 0 | — | 6.4% |
| FY2013 | 15 | 15 | 0 | — | 6.0% |
| FY2012 | 14 | 13 | 0 | — | 6.3% |
| FY2011 | 32 | 32 | 0 | 0.0% | 6.9% |
| FY2010 | 14 | 13 | 1 | — | 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 | $688K | $190K |
| Average approval | $960K | $518K |
| Approvals of $150,000 or less | 6.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 17.6% | 34.3% |
| Approvals to franchise businesses | 14.2% | 11.5% |
| Jobs supported per approval, as reported | 18.7 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.6% | 6.6% |
States served
| # | State of the business (37 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Carolina | 132 | $114M | 30.1% | |
| 2 | California | 95 | $102M | 21.7% | |
| 3 | South Carolina | 35 | $37.4M | 8.0% | |
| 4 | Georgia | 24 | $21.4M | 5.5% | |
| 5 | Florida | 22 | $15.3M | 5.0% | |
| 6 | Colorado | 13 | $12.8M | 3.0% | |
| 7 | New Jersey | 11 | $6.6M | 2.5% | |
| 8 | New York | 10 | $12.0M | 2.3% | |
| 9 | Arizona | 10 | $10.9M | 2.3% | |
| 10 | Texas | 9 | $14.4M | 2.1% | |
| 11 | Washington | 8 | $9.3M | 1.8% | |
| 12 | Ohio | 8 | $6.3M | 1.8% |
In North Carolina the lender accounts for 1.9% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (189 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Los Angeles County, CA | 33 | $34.4M | 7.5% | |
| 2 | Greenville County, SC | 15 | $16.5M | 3.4% | |
| 3 | Orange County, CA | 15 | $12.3M | 3.4% | |
| 4 | New Hanover County, NC | 14 | $15.0M | 3.2% | |
| 5 | Buncombe County, NC | 9 | $5.9M | 2.1% | |
| 6 | Wake County, NC | 9 | $5.2M | 2.1% | |
| 7 | Mecklenburg County, NC | 8 | $10.5M | 1.8% | |
| 8 | Maricopa County, AZ | 8 | $8.3M | 1.8% | |
| 9 | Ventura County, CA | 8 | $8.2M | 1.8% | |
| 10 | Guilford County, NC | 8 | $7.9M | 1.8% | |
| 11 | Riverside County, CA | 7 | $11.6M | 1.6% | |
| 12 | El Paso County, CO | 7 | $5.8M | 1.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 70 | 16.0% | |
| 2 | Construction | 59 | 13.5% | |
| 3 | Health Care and Social Assistance | 48 | 11.0% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 42 | 9.6% | |
| 5 | Manufacturing | 38 | 8.7% | |
| 6 | Accommodation and Food Services | 36 | 8.2% | |
| 7 | Other Services (except Public Administration) | 35 | 8.0% | |
| 8 | Transportation and Warehousing | 28 | 6.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Services to Buildings and DwellingsNAICS 5617 | 34 | 7.8% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 27 | 6.2% | |
| 3 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 15 | 3.4% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 15 | 3.4% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 15 | 3.4% | |
| 6 | Residential Building ConstructionNAICS 2361 | 14 | 3.2% | |
| 7 | Home Furnishings StoresNAICS 4422 | 14 | 3.2% | |
| 8 | Child Day Care ServicesNAICS 6244 | 13 | 3.0% | |
| 9 | Building Finishing ContractorsNAICS 2383 | 12 | 2.7% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 12 | 2.7% |
Approval sizes
- $50,000 or less1.4%6
- $50,001 to $150,0005.5%24
- $150,001 to $350,00016.9%74
- $350,001 to $1 million42.7%187
- $1 million to $2 million22.8%100
- Over $2 million10.7%47
Loan terms
- 5 years or less0.2%1
- Over 5 to 10 years65.5%287
- Over 10 to 20 years8.4%37
- Over 20 years25.8%113
Age of the businesses
- Existing, more than 2 years old49.5%217
- New business, 2 years or less12.3%54
- Startup, loan funds will open the business5.3%23
- Change of ownership32.9%144
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 372 | 84.9% | |
| 2 | SBA Express Program | 46 | 10.5% | |
| 3 | 7a General | 11 | 2.5% | |
| 4 | International Trade Loans | 9 | 2.1% |
Franchise share
62 of 438 approvals in FY2021–FY2025 (14.2%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Budget Blinds | 16 | 3.7% | |
| 2 | Servpro | 5 | 1.1% | |
| 3 | Bee Hive Homes | 3 | 0.7% | |
| 4 | Allstate Home Inspection and Environmental Te | 2 | 0.5% | |
| 5 | Property Management Inc. | 2 | 0.5% | |
| 6 | Woof Gang Bakery and Grooming | 2 | 0.5% | |
| 7 | 1-Tom-Plumber | 2 | 0.5% | |
| 8 | ZIPS Cleaners | 1 | 0.2% |
Questions and answers
How many SBA loans does First Bank make?
SBA approved 68 7(a) loans through First Bank in FY2025, worth $70.3M, and 438 over FY2021 to FY2025. That ranks 89th of 2,184 active 7(a) lenders by number of approvals.
How large are First Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $688K and the average $960K. The program-wide median was $190K.
What is First Bank's charge-off rate?
Of 956 disbursed loans approved in FY2010 to FY2021, SBA records 54 as charged off (5.6%), 522 as paid in full and 380 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 First Bank lend to most?
By number of approvals in FY2021 to FY2025: services to buildings and dwellings (34); restaurants and other eating places (27); agencies, brokerages, and other insurance related activities (15); other specialty trade contractors (15).
Where does First Bank make SBA loans?
In 37 states and territories. North Carolina 132, California 95, South Carolina 35, Georgia 24, Florida 22. In North Carolina it accounts for 1.9% of all 7(a) approvals.
Is First Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 227, against 368 in the three before: falling (-38%).
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