Lenders › Growth Capital Corp.
504 CDCCleveland, Ohiocertified development company60th of 182 by approvals
Growth Capital Corp.
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.
Growth Capital Corp. (Cleveland, Ohio) is a certified development company (CDC) that makes SBA 504 loans, 60th of 182 by approvals in FY2021 to FY2025: 135 loans worth $119M.
In FY2025, the latest complete fiscal year, it had 22 approvals totalling $19.5M, up 29% on FY2024 (17). FY2026 to 30 Jun 2026 adds 15 more.
The median approval was $516K, against $657K for the 504 program as a whole; 6.7% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 2 states and territories and 22 counties, led by Ohio (99.3%) and Texas (0.7%). The largest industry group was manufacturing at 21.5% of approvals, and 8.1% of approvals were to franchise businesses.
Of 414 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (1.2%), 183 as paid in full and 226 still outstanding; the 504 program figure for the same approval years is 1.2%, 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* | 15 | $13.1M | $495K | $872K | 177 |
| FY2025 | 22 | $19.5M | $652K | $884K | 286 |
| FY2024 | 17 | $20.3M | $758K | $1.2M | 411 |
| FY2023 | 12 | $10.6M | $506K | $887K | 234 |
| FY2022 | 33 | $32.9M | $710K | $998K | 539 |
| FY2021 | 51 | $35.8M | $459K | $701K | 664 |
| FY2020 | 36 | $24.2M | $405K | $673K | 321 |
| FY2019 | 46 | $26.0M | $399K | $566K | 680 |
| FY2018 | 33 | $25.0M | $456K | $757K | 680 |
| FY2017 | 33 | $27.8M | $426K | $842K | 703 |
| FY2016 | 30 | $22.9M | $450K | $762K | 225 |
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 178 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 | Ohio | 504 program |
|---|---|---|---|
| Approvals in these years | 512 | 2,374 | 85,591 |
| Cancelled or never disbursed | 98 | 313 | 12,514 |
| Disbursed loans | 414 | 2,061 | 73,077 |
| Paid in full | 183 | 983 | 35,491 |
| Charged off | 5 | 31 | 905 |
| Still outstanding (status exempt from disclosure) | 226 | 1,047 | 36,681 |
| Charged off, share of disbursed loans | 1.2% | 1.5% | 1.2% |
| Dollars charged off, share of disbursed dollars | 1.0% | 1.4% | 0.9% |
| Dollars charged off | $2.3M | $15.6M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 42 | 0 | 0 | 0.0% | 0.1% |
| FY2020 | 29 | 3 | 0 | — | 0.1% |
| FY2019 | 36 | 10 | 0 | 0.0% | 0.3% |
| FY2018 | 25 | 8 | 0 | — | 0.4% |
| FY2017 | 28 | 8 | 0 | — | 0.8% |
| FY2016 | 28 | 12 | 1 | — | 1.0% |
| FY2015 | 36 | 17 | 0 | 0.0% | 1.2% |
| FY2014 | 35 | 21 | 0 | 0.0% | 1.3% |
| FY2013 | 45 | 28 | 1 | 2.2% | 1.4% |
| FY2012 | 46 | 30 | 2 | 4.3% | 2.0% |
| FY2011 | 30 | 20 | 0 | 0.0% | 2.1% |
| FY2010 | 34 | 26 | 1 | 2.9% | 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 | $516K | $657K |
| Average approval | $882K | $1.0M |
| Approvals of $150,000 or less | 6.7% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 10.4% | 14.4% |
| Approvals to franchise businesses | 8.1% | 9.0% |
| Jobs supported per approval, as reported | 15.8 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 1.2% | 1.2% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Ohio | 134 | $115M | 99.3% | |
| 2 | Texas | 1 | — | 0.7% |
In Ohio the lender accounts for 17.0% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (22 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cuyahoga County, OH | 41 | $37.0M | 30.4% | |
| 2 | Lake County, OH | 16 | $15.3M | 11.9% | |
| 3 | Summit County, OH | 14 | $10.1M | 10.4% | |
| 4 | Medina County, OH | 12 | $10.2M | 8.9% | |
| 5 | Lorain County, OH | 11 | $9.8M | 8.1% | |
| 6 | Stark County, OH | 9 | $3.7M | 6.7% | |
| 7 | Geauga County, OH | 6 | $3.5M | 4.4% | |
| 8 | Erie County, OH | 5 | $10.5M | 3.7% | |
| 9 | Huron County, OH | 4 | $2.3M | 3.0% | |
| 10 | Franklin County, OH | 2 | — | 1.5% | |
| 11 | Seneca County, OH | 2 | — | 1.5% | |
| 12 | Lucas County, OH | 2 | — | 1.5% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 29 | 21.5% | |
| 2 | Other Services (except Public Administration) | 18 | 13.3% | |
| 3 | Accommodation and Food Services | 15 | 11.1% | |
| 4 | Retail Trade | 14 | 10.4% | |
| 5 | Wholesale Trade | 9 | 6.7% | |
| 6 | Professional, Scientific, and Technical Services | 9 | 6.7% | |
| 7 | Health Care and Social Assistance | 6 | 4.4% | |
| 8 | Transportation and Warehousing | 6 | 4.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 8 | 5.9% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 5.9% | |
| 3 | Traveler AccommodationNAICS 7211 | 4 | 3.0% | |
| 4 | Other Fabricated Metal Product ManufacturingNAICS 3329 | 4 | 3.0% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 4 | 3.0% | |
| 6 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 4 | 3.0% | |
| 7 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 3 | 2.2% | |
| 8 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 3 | 2.2% | |
| 9 | Child Day Care ServicesNAICS 6244 | 3 | 2.2% | |
| 10 | Other Electrical Equipment and Component ManufacturingNAICS 3359 | 3 | 2.2% |
Approval sizes
- $50,001 to $150,0006.7%9
- $150,001 to $350,00027.4%37
- $350,001 to $1 million36.3%49
- $1 million to $2 million20.0%27
- Over $2 million9.6%13
Loan terms
- Over 5 to 10 years2.2%3
- Over 10 to 20 years21.5%29
- Over 20 years76.3%103
Age of the businesses
- Existing, more than 2 years old88.9%120
- New business, 2 years or less1.5%2
- Startup, loan funds will open the business8.9%12
- Change of ownership0.7%1
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 105 | 77.8% | |
| 2 | ALP Express | 20 | 14.8% | |
| 3 | 504 Refinancing Program | 10 | 7.4% |
Franchise share
11 of 135 approvals in FY2021–FY2025 (8.1%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Primrose Schools | 2 | 1.5% | |
| 2 | Tru by Hilton | 1 | 0.7% | |
| 3 | Fairfield by Marriott | 1 | 0.7% | |
| 4 | Dairy Queen | 1 | 0.7% | |
| 5 | Paul Mitchell The School Franchise System | 1 | 0.7% | |
| 6 | Dunkin' | 1 | 0.7% | |
| 7 | Stanley Steemer | 1 | 0.7% | |
| 8 | PizzaBogo | 1 | 0.7% |
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 | KeyBank National Association | 19 | 14.1% | |
| 2 | The Croghan Colonial Bank | 11 | 8.1% | |
| 3 | The Huntington National Bank | 10 | 7.4% | |
| 4 | JPMorgan Chase Bank, National Association | 9 | 6.7% | |
| 5 | First Federal Savings and Loan Association of Lakewood | 8 | 5.9% | |
| 6 | The Farmers National Bank of Canfield | 8 | 5.9% | |
| 7 | PNC Bank, National Association | 7 | 5.2% | |
| 8 | Consumers National Bank | 7 | 5.2% |
Questions and answers
How many SBA loans does Growth Capital Corp. make?
SBA approved 22 504 loans through Growth Capital Corp. in FY2025, worth $19.5M, and 135 over FY2021 to FY2025. That ranks 60th of 182 active CDCs by number of approvals.
How large are Growth Capital Corp.'s typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $516K and the average $882K. The program-wide median was $657K.
What is Growth Capital Corp.'s charge-off rate?
Of 414 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (1.2%), 183 as paid in full and 226 still outstanding; the 504 program figure for the same approval years is 1.2%, 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 Growth Capital Corp. lend to most?
By number of approvals in FY2021 to FY2025: automotive repair and maintenance (8); restaurants and other eating places (8); traveler accommodation (4); other fabricated metal product manufacturing (4).
Where does Growth Capital Corp. make SBA loans?
In 2 states and territories. Ohio 134, Texas 1. In Ohio it accounts for 17.0% of all 504 approvals.
Is Growth Capital Corp.'s SBA lending rising?
Approvals in the three latest complete fiscal years total 51, against 120 in the three before: falling (-57%).
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