Lenders › Happen Bank
7(a) lenderLehi, UtahFDIC-insured bank117th of 2,184 by approvals
Happen 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.
Happen Bank (Lehi, Utah) is an FDIC-insured bank in the SBA 7(a) program, 117th of 2,184 by approvals in FY2021 to FY2025: 320 loans worth $425M.
In FY2025, the latest complete fiscal year, it had 32 approvals totalling $53.7M, down 14% on FY2024 (37). FY2026 to 30 Jun 2026 adds 33 more.
The median approval was $874K, against $190K for the 7(a) program as a whole; 3.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 39 states and territories and 158 counties, led by Texas (15.6%), Illinois (14.4%) and Florida (13.8%). The largest industry group was accommodation and food services at 23.4% of approvals, and 45.0% of approvals were to franchise businesses.
Of 643 disbursed loans approved in FY2010 to FY2021, SBA records 72 as charged off (11.2%), 426 as paid in full and 145 still outstanding; the 7(a) program figure for the same approval years is 6.6%, 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* | 33 | $46.9M | $898K | $1.4M | 698 |
| FY2025 | 32 | $53.7M | $1.0M | $1.7M | 636 |
| FY2024 | 37 | $42.1M | $774K | $1.1M | 623 |
| FY2023 | 67 | $83.2M | $903K | $1.2M | 1,800 |
| FY2022 | 82 | $96.5M | $864K | $1.2M | 2,026 |
| FY2021 | 102 | $149M | $837K | $1.5M | 3,412 |
| FY2020 | 52 | $56.4M | $769K | $1.1M | 2,131 |
| FY2019 | 59 | $71.3M | $775K | $1.2M | 1,382 |
| FY2018 | 123 | $143M | $610K | $1.2M | 2,420 |
| FY2017 | 155 | $118M | $480K | $763K | 3,206 |
| FY2016 | 72 | $58.1M | $350K | $807K | 1,440 |
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 461 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 | Texas | 7(a) program |
|---|---|---|---|
| Approvals in these years | 756 | 48,931 | 639,905 |
| Cancelled or never disbursed | 113 | 5,758 | 79,313 |
| Disbursed loans | 643 | 43,173 | 560,592 |
| Paid in full | 426 | 31,848 | 435,813 |
| Charged off | 72 | 3,650 | 36,891 |
| Still outstanding (status exempt from disclosure) | 145 | 7,675 | 87,888 |
| Charged off, share of disbursed loans | 11.2% | 8.5% | 6.6% |
| Dollars charged off, share of disbursed dollars | 8.3% | 2.9% | 2.5% |
| Dollars charged off | $48.7M | $682M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 85 | 37 | 3 | 3.5% | 2.8% |
| FY2020 | 42 | 24 | 3 | 7.1% | 4.0% |
| FY2019 | 52 | 28 | 4 | 7.7% | 6.7% |
| FY2018 | 113 | 77 | 17 | 15.0% | 7.9% |
| FY2017 | 145 | 91 | 27 | 18.6% | 7.7% |
| FY2016 | 59 | 38 | 8 | 13.6% | 7.2% |
| FY2015 | 36 | 30 | 4 | 11.1% | 6.9% |
| FY2014 | 33 | 32 | 0 | 0.0% | 6.4% |
| FY2013 | 34 | 30 | 4 | 11.8% | 6.0% |
| FY2012 | 20 | 17 | 1 | — | 6.3% |
| FY2011 | 11 | 10 | 0 | — | 6.9% |
| FY2010 | 13 | 12 | 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 | $874K | $190K |
| Average approval | $1.3M | $518K |
| Approvals of $150,000 or less | 3.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 61.6% | 34.3% |
| Approvals to franchise businesses | 45.0% | 11.5% |
| Jobs supported per approval, as reported | 26.6 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 11.2% | 6.6% |
States served
| # | State of the business (39 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Texas | 50 | $42.8M | 15.6% | |
| 2 | Illinois | 46 | $97.5M | 14.4% | |
| 3 | Florida | 44 | $63.3M | 13.8% | |
| 4 | California | 26 | $24.7M | 8.1% | |
| 5 | New Jersey | 18 | $15.8M | 5.6% | |
| 6 | North Carolina | 13 | $14.2M | 4.1% | |
| 7 | Colorado | 10 | $13.2M | 3.1% | |
| 8 | Michigan | 8 | $11.1M | 2.5% | |
| 9 | Washington | 7 | $12.5M | 2.2% | |
| 10 | New York | 7 | $11.9M | 2.2% | |
| 11 | Oregon | 7 | $7.8M | 2.2% | |
| 12 | Indiana | 6 | $11.7M | 1.9% |
In Texas the lender accounts for 0.2% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (158 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cook County, IL | 31 | $67.1M | 9.7% | |
| 2 | Los Angeles County, CA | 11 | $14.0M | 3.4% | |
| 3 | Palm Beach County, FL | 11 | $12.1M | 3.4% | |
| 4 | Williamson County, TX | 8 | $3.3M | 2.5% | |
| 5 | Lake County, IL | 7 | $9.9M | 2.2% | |
| 6 | Broward County, FL | 7 | $7.5M | 2.2% | |
| 7 | Travis County, TX | 7 | $4.3M | 2.2% | |
| 8 | Johnson County, KS | 6 | $10.6M | 1.9% | |
| 9 | Miami-Dade County, FL | 6 | $10.6M | 1.9% | |
| 10 | Harris County, TX | 6 | $5.5M | 1.9% | |
| 11 | Maricopa County, AZ | 5 | $4.4M | 1.6% | |
| 12 | Dallas County, TX | 5 | $3.7M | 1.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 75 | 23.4% | |
| 2 | Other Services (except Public Administration) | 67 | 20.9% | |
| 3 | Arts, Entertainment, and Recreation | 33 | 10.3% | |
| 4 | Health Care and Social Assistance | 31 | 9.7% | |
| 5 | Retail Trade | 21 | 6.6% | |
| 6 | Manufacturing | 18 | 5.6% | |
| 7 | Educational Services | 13 | 4.1% | |
| 8 | Transportation and Warehousing | 12 | 3.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 67 | 20.9% | |
| 2 | Other Personal ServicesNAICS 8129 | 30 | 9.4% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 27 | 8.4% | |
| 4 | Personal Care ServicesNAICS 8121 | 23 | 7.2% | |
| 5 | Other Schools and InstructionNAICS 6116 | 12 | 3.8% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 11 | 3.4% | |
| 7 | Child Day Care ServicesNAICS 6244 | 10 | 3.1% | |
| 8 | Offices of Other Health PractitionersNAICS 6213 | 8 | 2.5% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 7 | 2.2% | |
| 10 | General Freight TruckingNAICS 4841 | 6 | 1.9% |
Approval sizes
- $50,000 or less0.3%1
- $50,001 to $150,0003.4%11
- $150,001 to $350,0007.2%23
- $350,001 to $1 million47.5%152
- $1 million to $2 million20.6%66
- Over $2 million20.9%67
Loan terms
- 5 years or less0.3%1
- Over 5 to 10 years33.4%107
- Over 10 to 20 years49.7%159
- Over 20 years16.6%53
Age of the businesses
- Existing, more than 2 years old25.6%82
- New business, 2 years or less9.1%29
- Startup, loan funds will open the business52.5%168
- Change of ownership12.8%41
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 300 | 93.8% | |
| 2 | SBA Express Program | 9 | 2.8% | |
| 3 | 7a General | 7 | 2.2% | |
| 4 | International Trade Loans | 4 | 1.3% |
Franchise share
144 of 320 approvals in FY2021–FY2025 (45.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restore Hyper Wellness | 30 | 9.4% | |
| 2 | Big Blue Swim School | 9 | 2.8% | |
| 3 | Hotworx | 9 | 2.8% | |
| 4 | Urban Air Adventure Park | 6 | 1.9% | |
| 5 | F45 Training | 6 | 1.9% | |
| 6 | Camp Bow Wow | 5 | 1.6% | |
| 7 | Little Caesars | 5 | 1.6% | |
| 8 | Jimmy John's | 5 | 1.6% |
Questions and answers
How many SBA loans does Happen Bank make?
SBA approved 32 7(a) loans through Happen Bank in FY2025, worth $53.7M, and 320 over FY2021 to FY2025. That ranks 117th of 2,184 active 7(a) lenders by number of approvals.
How large are Happen Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $874K and the average $1.3M. The program-wide median was $190K.
What is Happen Bank's charge-off rate?
Of 643 disbursed loans approved in FY2010 to FY2021, SBA records 72 as charged off (11.2%), 426 as paid in full and 145 still outstanding; the 7(a) program figure for the same approval years is 6.6%, 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 Happen Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (67); other personal services (30); other amusement and recreation industries (27); personal care services (23).
Where does Happen Bank make SBA loans?
In 39 states and territories. Texas 50, Illinois 46, Florida 44, California 26, New Jersey 18. In Texas it accounts for 0.2% of all 7(a) approvals.
Is Happen Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 136, against 236 in the three before: falling (-42%).
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