Lenders › Grow America Fund, Incorporated
7(a) lenderNew York, New Yorknon-bank 7(a) lender306th of 2,184 by approvals
Grow America Fund, Incorporated
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.
Grow America Fund, Incorporated (New York, New York) is a non-bank 7(a) lender in the SBA 7(a) program, 306th of 2,184 by approvals in FY2021 to FY2025: 106 loans worth $65.2M.
In FY2025, the latest complete fiscal year, it had 17 approvals totalling $15.5M, down 41% on FY2024 (29). FY2026 to 30 Jun 2026 adds 10 more.
The median approval was $325K, against $190K for the 7(a) program as a whole; 16.0% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 15 states and territories and 42 counties, led by California (24.5%), Delaware (17.9%) and New York (17.0%). The largest industry group was accommodation and food services at 19.8% of approvals, and 4.7% of approvals were to franchise businesses.
Of 315 disbursed loans approved in FY2010 to FY2021, SBA records 19 as charged off (6.0%), 217 as paid in full and 79 still outstanding; the 7(a) program figure for the same approval years is 6.6%, 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* | 10 | $9.2M | $675K | $915K | 95 |
| FY2025 | 17 | $15.5M | $710K | $913K | 296 |
| FY2024 | 29 | $18.6M | $350K | $641K | 476 |
| FY2023 | 31 | $13.2M | $300K | $427K | 564 |
| FY2022 | 12 | $4.5M | $275K | $373K | 161 |
| FY2021 | 17 | $13.3M | $350K | $785K | 584 |
| FY2020 | 37 | $11.3M | $205K | $307K | 513 |
| FY2019 | 30 | $13.8M | $226K | $460K | 306 |
| FY2018 | 29 | $15.9M | $270K | $547K | 434 |
| FY2017 | 30 | $15.5M | $300K | $518K | 577 |
| FY2016 | 22 | $8.7M | $263K | $397K | 493 |
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 148 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 | 7(a) program |
|---|---|---|---|
| Approvals in these years | 354 | 79,249 | 639,905 |
| Cancelled or never disbursed | 39 | 10,102 | 79,313 |
| Disbursed loans | 315 | 69,147 | 560,592 |
| Paid in full | 217 | 52,688 | 435,813 |
| Charged off | 19 | 4,430 | 36,891 |
| Still outstanding (status exempt from disclosure) | 79 | 12,029 | 87,888 |
| Charged off, share of disbursed loans | 6.0% | 6.4% | 6.6% |
| Dollars charged off, share of disbursed dollars | 4.5% | 1.5% | 2.5% |
| Dollars charged off | $7.9M | $565M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 16 | 4 | 0 | — | 2.8% |
| FY2020 | 31 | 13 | 0 | 0.0% | 4.0% |
| FY2019 | 28 | 16 | 0 | — | 6.7% |
| FY2018 | 28 | 18 | 2 | — | 7.9% |
| FY2017 | 30 | 18 | 2 | 6.7% | 7.7% |
| FY2016 | 21 | 17 | 1 | — | 7.2% |
| FY2015 | 29 | 23 | 4 | — | 6.9% |
| FY2014 | 19 | 15 | 1 | — | 6.4% |
| FY2013 | 38 | 30 | 3 | 7.9% | 6.0% |
| FY2012 | 21 | 18 | 1 | — | 6.3% |
| FY2011 | 34 | 27 | 3 | 8.8% | 6.9% |
| FY2010 | 20 | 18 | 2 | — | 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 | $325K | $190K |
| Average approval | $615K | $518K |
| Approvals of $150,000 or less | 16.0% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 19.8% | 34.3% |
| Approvals to franchise businesses | 4.7% | 11.5% |
| Jobs supported per approval, as reported | 19.6 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 6.0% | 6.6% |
States served
| # | State of the business (15 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 26 | $13.3M | 24.5% | |
| 2 | Delaware | 19 | $14.5M | 17.9% | |
| 3 | New York | 18 | $8.8M | 17.0% | |
| 4 | Ohio | 11 | $3.9M | 10.4% | |
| 5 | Florida | 10 | $5.4M | 9.4% | |
| 6 | Washington | 8 | $4.7M | 7.5% | |
| 7 | Hawaii | 4 | $1.7M | 3.8% | |
| 8 | Texas | 3 | $1.9M | 2.8% | |
| 9 | Oklahoma | 1 | — | 0.9% | |
| 10 | Arizona | 1 | — | 0.9% | |
| 11 | North Carolina | 1 | — | 0.9% | |
| 12 | Utah | 1 | — | 0.9% |
In California the lender accounts for 0.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (42 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Los Angeles County, CA | 13 | $5.9M | 12.3% | |
| 2 | Kings County, NY | 11 | $6.0M | 10.4% | |
| 3 | New Castle County, DE | 9 | $8.2M | 8.5% | |
| 4 | Sussex County, DE | 9 | $6.0M | 8.5% | |
| 5 | Cuyahoga County, OH | 9 | $3.2M | 8.5% | |
| 6 | King County, WA | 4 | $2.3M | 3.8% | |
| 7 | Miami-Dade County, FL | 3 | $3.8M | 2.8% | |
| 8 | San Diego County, CA | 3 | $2.5M | 2.8% | |
| 9 | Santa Cruz County, CA | 3 | $1.7M | 2.8% | |
| 10 | Hawaii County, HI | 3 | $1.2M | 2.8% | |
| 11 | New York County, NY | 3 | $945K | 2.8% | |
| 12 | Broward County, FL | 3 | $670K | 2.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 21 | 19.8% | |
| 2 | Manufacturing | 17 | 16.0% | |
| 3 | Health Care and Social Assistance | 13 | 12.3% | |
| 4 | Retail Trade | 11 | 10.4% | |
| 5 | Construction | 9 | 8.5% | |
| 6 | Wholesale Trade | 8 | 7.5% | |
| 7 | Other Services (except Public Administration) | 7 | 6.6% | |
| 8 | Professional, Scientific, and Technical Services | 6 | 5.7% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 20 | 18.9% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 5 | 4.7% | |
| 3 | Health and Personal Care RetailersNAICS 4561 | 4 | 3.8% | |
| 4 | Professional and Commercial Equipment and Supplies Merchant WholesalersNAICS 4234 | 3 | 2.8% | |
| 5 | Personal Care ServicesNAICS 8121 | 3 | 2.8% | |
| 6 | Animal Food ManufacturingNAICS 3111 | 2 | 1.9% | |
| 7 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 1.9% | |
| 8 | Offices of DentistsNAICS 6212 | 2 | 1.9% | |
| 9 | Legal ServicesNAICS 5411 | 2 | 1.9% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 2 | 1.9% |
Approval sizes
- $50,001 to $150,00016.0%17
- $150,001 to $350,00039.6%42
- $350,001 to $1 million32.1%34
- $1 million to $2 million7.5%8
- Over $2 million4.7%5
Loan terms
- Over 5 to 10 years70.8%75
- Over 10 to 20 years4.7%5
- Over 20 years24.5%26
Age of the businesses
- Existing, more than 2 years old72.6%77
- New business, 2 years or less10.4%11
- Startup, loan funds will open the business9.4%10
- Change of ownership7.5%8
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 67 | 63.2% | |
| 2 | Preferred Lenders Program | 39 | 36.8% |
Franchise share
5 of 106 approvals in FY2021–FY2025 (4.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Hot Head Burritos | 1 | 0.9% | |
| 2 | Tropical Smoothie Cafe | 1 | 0.9% | |
| 3 | Signarama | 1 | 0.9% | |
| 4 | FYZICAL Therapy & Balance Centers | 1 | 0.9% | |
| 5 | 2nd Family | 1 | 0.9% |
Questions and answers
How many SBA loans does Grow America Fund, Incorporated make?
SBA approved 17 7(a) loans through Grow America Fund, Incorporated in FY2025, worth $15.5M, and 106 over FY2021 to FY2025. That ranks 306th of 2,184 active 7(a) lenders by number of approvals.
How large are Grow America Fund, Incorporated's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $325K and the average $615K. The program-wide median was $190K.
What is Grow America Fund, Incorporated's charge-off rate?
Of 315 disbursed loans approved in FY2010 to FY2021, SBA records 19 as charged off (6.0%), 217 as paid in full and 79 still outstanding; the 7(a) program figure for the same approval years is 6.6%, 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 Grow America Fund, Incorporated lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (20); offices of other health practitioners (5); health and personal care retailers (4); professional and commercial equipment and supplies merchant wholesalers (3).
Where does Grow America Fund, Incorporated make SBA loans?
In 15 states and territories. California 26, Delaware 19, New York 18, Ohio 11, Florida 10. In California it accounts for 0.1% of all 7(a) approvals.
Is Grow America Fund, Incorporated's SBA lending rising?
Approvals in the three latest complete fiscal years total 77, against 66 in the three before: rising (+17%).
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