Lenders › Mechanics and Farmers Bank
7(a) lenderDurham, North CarolinaFDIC-insured bank376th of 2,184 by approvals
Mechanics and Farmers 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.
Mechanics and Farmers Bank, based in Durham, North Carolina, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 78 of its 7(a) loans worth $51.1M in FY2021 to FY2025, which places it 376th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 29 approvals totalling $10.7M, up 123% on FY2024 (13). FY2026 to 30 Jun 2026 adds 13 more.
The median approval was $385K, against $190K for the 7(a) program as a whole; 5.1% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 20 states and territories and 52 counties, led by North Carolina (42.3%), Georgia (10.3%) and Florida (9.0%). The largest industry group was finance and insurance at 23.1% of approvals, and 16.7% of approvals were to franchise businesses.
Of 51 disbursed loans approved in FY2010 to FY2021, SBA records 2 as charged off (3.9%), 29 as paid in full and 20 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* | 13 | $5.1M | $257K | $396K | 132 |
| FY2025 | 29 | $10.7M | $296K | $369K | 204 |
| FY2024 | 13 | $9.8M | $375K | $754K | 200 |
| FY2023 | 11 | $7.4M | $500K | $673K | 57 |
| FY2022 | 9 | $8.5M | $703K | $950K | 68 |
| FY2021 | 16 | $14.6M | $669K | $914K | 104 |
| FY2020 | 14 | $6.7M | $333K | $482K | 77 |
| FY2019 | 10 | $3.0M | $218K | $303K | 97 |
| FY2018 | 10 | $2.5M | $128K | $248K | 52 |
| FY2017 | 3 | $882K | $332K | $294K | 46 |
| FY2016 | 0 | — | — | — | 0 |
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 37 approvals. First approval on file: FY2017.
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 | 53 | 12,808 | 639,905 |
| Cancelled or never disbursed | 2 | 1,480 | 79,313 |
| Disbursed loans | 51 | 11,328 | 560,592 |
| Paid in full | 29 | 8,649 | 435,813 |
| Charged off | 2 | 705 | 36,891 |
| Still outstanding (status exempt from disclosure) | 20 | 1,974 | 87,888 |
| Charged off, share of disbursed loans | 3.9% | 6.2% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.6% | 1.8% | 2.5% |
| Dollars charged off | $149K | $111M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 14 | 7 | 0 | — | 2.8% |
| FY2020 | 14 | 9 | 0 | — | 4.0% |
| FY2019 | 10 | 4 | 1 | — | 6.7% |
| FY2018 | 10 | 8 | 1 | — | 7.9% |
| FY2017 | 3 | 1 | 0 | — | 7.7% |
| FY2016 | 0 | 0 | 0 | — | 7.2% |
| FY2015 | 0 | 0 | 0 | — | 6.9% |
| FY2014 | 0 | 0 | 0 | — | 6.4% |
| FY2013 | 0 | 0 | 0 | — | 6.0% |
| FY2012 | 0 | 0 | 0 | — | 6.3% |
| FY2011 | 0 | 0 | 0 | — | 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 | $385K | $190K |
| Average approval | $655K | $518K |
| Approvals of $150,000 or less | 5.1% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 19.2% | 34.3% |
| Approvals to franchise businesses | 16.7% | 11.5% |
| Jobs supported per approval, as reported | 8.1 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 3.9% | 6.6% |
States served
| # | State of the business (20 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Carolina | 33 | $14.6M | 42.3% | |
| 2 | Georgia | 8 | $9.7M | 10.3% | |
| 3 | Florida | 7 | $2.1M | 9.0% | |
| 4 | Virginia | 5 | $2.0M | 6.4% | |
| 5 | South Carolina | 4 | $1.6M | 5.1% | |
| 6 | Michigan | 2 | — | 2.6% | |
| 7 | Texas | 2 | — | 2.6% | |
| 8 | Nevada | 2 | — | 2.6% | |
| 9 | Oklahoma | 2 | — | 2.6% | |
| 10 | California | 2 | — | 2.6% | |
| 11 | Illinois | 2 | — | 2.6% | |
| 12 | Washington | 1 | — | 1.3% |
In North Carolina the lender accounts for 0.5% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (52 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Mecklenburg County, NC | 6 | $3.5M | 7.7% | |
| 2 | Wake County, NC | 6 | $2.4M | 7.7% | |
| 3 | Guilford County, NC | 6 | $1.5M | 7.7% | |
| 4 | Broward County, FL | 4 | $1.2M | 5.1% | |
| 5 | Durham County, NC | 3 | $722K | 3.8% | |
| 6 | Oakland County, MI | 2 | — | 2.6% | |
| 7 | Washoe County, NV | 2 | — | 2.6% | |
| 8 | Forsyth County, NC | 2 | — | 2.6% | |
| 9 | Cherokee County, GA | 2 | — | 2.6% | |
| 10 | Fulton County, GA | 2 | — | 2.6% | |
| 11 | Virginia Beach city, VA | 2 | — | 2.6% | |
| 12 | Bibb County, GA | 1 | — | 1.3% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Finance and Insurance | 18 | 23.1% | |
| 2 | Other Services (except Public Administration) | 12 | 15.4% | |
| 3 | Accommodation and Food Services | 10 | 12.8% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 7 | 9.0% | |
| 5 | Health Care and Social Assistance | 6 | 7.7% | |
| 6 | Transportation and Warehousing | 5 | 6.4% | |
| 7 | Professional, Scientific, and Technical Services | 4 | 5.1% | |
| 8 | Construction | 4 | 5.1% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 18 | 23.1% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 11.5% | |
| 3 | Other Personal ServicesNAICS 8129 | 4 | 5.1% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 4 | 5.1% | |
| 5 | General Freight TruckingNAICS 4841 | 3 | 3.8% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 3.8% | |
| 7 | Drycleaning and Laundry ServicesNAICS 8123 | 3 | 3.8% | |
| 8 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 2 | 2.6% | |
| 9 | Other Support ServicesNAICS 5619 | 2 | 2.6% | |
| 10 | Offices of Other Health PractitionersNAICS 6213 | 2 | 2.6% |
Approval sizes
- $50,001 to $150,0005.1%4
- $150,001 to $350,00041.0%32
- $350,001 to $1 million35.9%28
- $1 million to $2 million12.8%10
- Over $2 million5.1%4
Loan terms
- Over 5 to 10 years79.5%62
- Over 10 to 20 years11.5%9
- Over 20 years9.0%7
Age of the businesses
- Existing, more than 2 years old29.5%23
- New business, 2 years or less5.1%4
- Startup, loan funds will open the business14.1%11
- Change of ownership51.3%40
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 7a General | 40 | 51.3% | |
| 2 | Preferred Lenders Program | 38 | 48.7% |
Franchise share
13 of 78 approvals in FY2021–FY2025 (16.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Cinnaholic | 2 | 2.6% | |
| 2 | Smoothie King | 2 | 2.6% | |
| 3 | Epic Wings | 1 | 1.3% | |
| 4 | Avendelle | 1 | 1.3% | |
| 5 | Pure Green | 1 | 1.3% | |
| 6 | LIVE Hydration Spa | 1 | 1.3% | |
| 7 | Zoom Room | 1 | 1.3% | |
| 8 | Sandler | 1 | 1.3% |
Questions and answers
How many SBA loans does Mechanics and Farmers Bank make?
SBA approved 29 7(a) loans through Mechanics and Farmers Bank in FY2025, worth $10.7M, and 78 over FY2021 to FY2025. That ranks 376th of 2,184 active 7(a) lenders by number of approvals.
How large are Mechanics and Farmers Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $385K and the average $655K. The program-wide median was $190K.
What is Mechanics and Farmers Bank's charge-off rate?
Of 51 disbursed loans approved in FY2010 to FY2021, SBA records 2 as charged off (3.9%), 29 as paid in full and 20 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 Mechanics and Farmers Bank lend to most?
By number of approvals in FY2021 to FY2025: agencies, brokerages, and other insurance related activities (18); restaurants and other eating places (9); other personal services (4); services to buildings and dwellings (4).
Where does Mechanics and Farmers Bank make SBA loans?
In 20 states and territories. North Carolina 33, Georgia 8, Florida 7, Virginia 5, South Carolina 4. In North Carolina it accounts for 0.5% of all 7(a) approvals.
Is Mechanics and Farmers Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 53, against 39 in the three before: rising (+36%).
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