Lenders › iTHINK Financial Credit Union
7(a) lenderDelray Beach, Floridacredit union279th of 2,184 by approvals
iTHINK Financial Credit Union
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 121 7(a) loans, worth $75.0M, through iTHINK Financial Credit Union of Delray Beach, Florida, a credit union in the SBA 7(a) program. By number of approvals that is 279th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 24 approvals totalling $12.4M, down 17% on FY2024 (29). FY2026 to 30 Jun 2026 adds 25 more.
The median approval was $370K, against $190K for the 7(a) program as a whole; 24.0% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 6 states and territories and 29 counties, led by Florida (85.1%), Georgia (9.9%) and Nevada (1.7%). The largest industry group was accommodation and food services at 20.7% of approvals, and 9.9% of approvals were to franchise businesses.
Of 165 disbursed loans approved in FY2010 to FY2021, SBA records 1 as charged off (0.6%), 128 as paid in full and 36 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* | 25 | $8.2M | $150K | $327K | 190 |
| FY2025 | 24 | $12.4M | $231K | $518K | 176 |
| FY2024 | 29 | $20.5M | $480K | $708K | 546 |
| FY2023 | 24 | $11.8M | $335K | $494K | 319 |
| FY2022 | 25 | $15.1M | $276K | $604K | 290 |
| FY2021 | 19 | $15.0M | $680K | $792K | 218 |
| FY2020 | 14 | $14.1M | $815K | $1.0M | 244 |
| FY2019 | 14 | $8.6M | $476K | $614K | 184 |
| FY2018 | 17 | $18.9M | $627K | $1.1M | 352 |
| FY2017 | 22 | $11.1M | $283K | $504K | 172 |
| FY2016 | 22 | $6.5M | $259K | $297K | 171 |
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 89 approvals. First approval on file: FY2011.
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 | Florida | 7(a) program |
|---|---|---|---|
| Approvals in these years | 174 | 31,863 | 639,905 |
| Cancelled or never disbursed | 9 | 3,596 | 79,313 |
| Disbursed loans | 165 | 28,267 | 560,592 |
| Paid in full | 128 | 20,064 | 435,813 |
| Charged off | 1 | 2,783 | 36,891 |
| Still outstanding (status exempt from disclosure) | 36 | 5,420 | 87,888 |
| Charged off, share of disbursed loans | 0.6% | 9.8% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.0% | 3.1% | 2.5% |
| Dollars charged off | $963K | $442M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 18 | 11 | 0 | — | 2.8% |
| FY2020 | 13 | 8 | 0 | — | 4.0% |
| FY2019 | 13 | 6 | 0 | — | 6.7% |
| FY2018 | 16 | 14 | 0 | — | 7.9% |
| FY2017 | 22 | 17 | 0 | — | 7.7% |
| FY2016 | 22 | 18 | 0 | — | 7.2% |
| FY2015 | 18 | 15 | 0 | — | 6.9% |
| FY2014 | 10 | 10 | 0 | — | 6.4% |
| FY2013 | 7 | 7 | 0 | — | 6.0% |
| FY2012 | 12 | 10 | 0 | — | 6.3% |
| FY2011 | 14 | 12 | 1 | — | 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 | $370K | $190K |
| Average approval | $619K | $518K |
| Approvals of $150,000 or less | 24.0% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 51.2% | 34.3% |
| Approvals to franchise businesses | 9.9% | 11.5% |
| Jobs supported per approval, as reported | 12.8 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 0.6% | 6.6% |
States served
| # | State of the business (6 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Florida | 103 | $68.4M | 85.1% | |
| 2 | Georgia | 12 | $3.1M | 9.9% | |
| 3 | Nevada | 2 | — | 1.7% | |
| 4 | North Carolina | 2 | — | 1.7% | |
| 5 | South Carolina | 1 | — | 0.8% | |
| 6 | Alabama | 1 | — | 0.8% |
In Florida the lender accounts for 0.4% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (29 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Palm Beach County, FL | 31 | $10.9M | 25.6% | |
| 2 | Indian River County, FL | 19 | $13.3M | 15.7% | |
| 3 | St. Lucie County, FL | 14 | $7.2M | 11.6% | |
| 4 | Martin County, FL | 8 | $7.7M | 6.6% | |
| 5 | Brevard County, FL | 6 | $8.0M | 5.0% | |
| 6 | Broward County, FL | 5 | $2.0M | 4.1% | |
| 7 | Orange County, FL | 4 | $2.9M | 3.3% | |
| 8 | Duval County, FL | 3 | $4.9M | 2.5% | |
| 9 | Nassau County, FL | 3 | $3.0M | 2.5% | |
| 10 | Paulding County, GA | 3 | $447K | 2.5% | |
| 11 | Flagler County, FL | 2 | — | 1.7% | |
| 12 | Clark County, NV | 2 | — | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 25 | 20.7% | |
| 2 | Other Services (except Public Administration) | 18 | 14.9% | |
| 3 | Health Care and Social Assistance | 15 | 12.4% | |
| 4 | Professional, Scientific, and Technical Services | 10 | 8.3% | |
| 5 | Retail Trade | 10 | 8.3% | |
| 6 | Transportation and Warehousing | 8 | 6.6% | |
| 7 | Arts, Entertainment, and Recreation | 6 | 5.0% | |
| 8 | Manufacturing | 5 | 4.1% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 15 | 12.4% | |
| 2 | Traveler AccommodationNAICS 7211 | 9 | 7.4% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 5.8% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 5.0% | |
| 5 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 5 | 4.1% | |
| 6 | Offices of PhysiciansNAICS 6211 | 5 | 4.1% | |
| 7 | Other Personal ServicesNAICS 8129 | 4 | 3.3% | |
| 8 | Couriers and Express Delivery ServicesNAICS 4921 | 3 | 2.5% | |
| 9 | Personal and Household Goods Repair and MaintenanceNAICS 8114 | 3 | 2.5% | |
| 10 | Personal Care ServicesNAICS 8121 | 3 | 2.5% |
Approval sizes
- $50,000 or less3.3%4
- $50,001 to $150,00020.7%25
- $150,001 to $350,00025.6%31
- $350,001 to $1 million33.1%40
- $1 million to $2 million11.6%14
- Over $2 million5.8%7
Loan terms
- Over 5 to 10 years46.3%56
- Over 10 to 20 years10.7%13
- Over 20 years43.0%52
Age of the businesses
- Existing, more than 2 years old46.3%56
- New business, 2 years or less8.3%10
- Startup, loan funds will open the business43.0%52
- Change of ownership2.5%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 117 | 96.7% | |
| 2 | International Trade Loans | 4 | 3.3% |
Franchise share
12 of 121 approvals in FY2021–FY2025 (9.9%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Shipley Do-Nut | 1 | 0.8% | |
| 2 | Keke's or Keke's Breakfast Cafe | 1 | 0.8% | |
| 3 | Dunkin' | 1 | 0.8% | |
| 4 | Denny's | 1 | 0.8% | |
| 5 | Kilwins Chocolates and Ice Cream Store | 1 | 0.8% | |
| 6 | DRIPBaR | 1 | 0.8% | |
| 7 | PostNet | 1 | 0.8% | |
| 8 | Bumble Bee Blinds | 1 | 0.8% |
Questions and answers
How many SBA loans does iTHINK Financial Credit Union make?
SBA approved 24 7(a) loans through iTHINK Financial Credit Union in FY2025, worth $12.4M, and 121 over FY2021 to FY2025. That ranks 279th of 2,184 active 7(a) lenders by number of approvals.
How large are iTHINK Financial Credit Union's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $370K and the average $619K. The program-wide median was $190K.
What is iTHINK Financial Credit Union's charge-off rate?
Of 165 disbursed loans approved in FY2010 to FY2021, SBA records 1 as charged off (0.6%), 128 as paid in full and 36 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 iTHINK Financial Credit Union lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (15); traveler accommodation (9); automotive repair and maintenance (7); other amusement and recreation industries (6).
Where does iTHINK Financial Credit Union make SBA loans?
In 6 states and territories. Florida 103, Georgia 12, Nevada 2, North Carolina 2, South Carolina 1. In Florida it accounts for 0.4% of all 7(a) approvals.
Is iTHINK Financial Credit Union's SBA lending rising?
Approvals in the three latest complete fiscal years total 77, against 58 in the three before: rising (+33%).
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