FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Alabama, FY2021
That fiscal year's approvals by lender and by county.
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 (1 October 2020 to 30 September 2021) SBA approved 462 loans in Alabama: 365 under 7(a) and 97 under 504, worth $392M.
That is up 34% on FY2020, when there were 345 approvals worth $244M.
Alabama accounted for 0.8% of the 61,532 approvals nationwide that year. 93 lenders had at least one approval in the state; Southern Development Council had the most, 41.
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. Data through 30 Jun 2026.
Approvals by lender
The 40 lenders with the most approvals to Alabama businesses in FY2021, of 93 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Southern Development Council | 504 | 41 | $35.6M | 8.9% | 30 | +11 |
| 2 | PNC Bank, National Association | 7(a) | 32 | $7.8M | 6.9% | 12 | +20 |
| 3 | Wells Fargo Bank National Association | 7(a) | 31 | $8.9M | 6.7% | 26 | +5 |
| 4 | Birmingham Citywide Local Development Company | 504 | 23 | $25.2M | 5.0% | 16 | +7 |
| 5 | United Midwest Savings Bank National Association | 7(a) | 19 | $5.8M | 4.1% | 14 | +5 |
| 6 | Florida Business Development Corporation | 504 | 17 | $14.3M | 3.7% | 6 | +11 |
| 7 | Florida First Capital Finance Corporation, Inc. | 504 | 16 | $15.1M | 3.5% | 12 | +4 |
| 8 | Live Oak Banking Company | 7(a) | 16 | $13.8M | 3.5% | 11 | +5 |
| 9 | The Huntington National Bank | 7(a) | 14 | $13.1M | 3.0% | 22 | -8 |
| 10 | Newtek Small Business Finance, Inc. | 7(a) | 14 | $9.5M | 3.0% | 7 | +7 |
| 11 | Friend Bank | 7(a) | 13 | $1.4M | 2.8% | 4 | +9 |
| 12 | Pinnacle Bank | 7(a) | 11 | $16.3M | 2.4% | 16 | -5 |
| 13 | BankFirst Financial Services | 7(a) | 11 | $5.5M | 2.4% | 9 | +2 |
| 14 | Regions Bank | 7(a) | 10 | $13.8M | 2.2% | 8 | +2 |
| 15 | SouthState Bank, National Association | 7(a) | 10 | $13.8M | 2.2% | 9 | +1 |
| 16 | Community Bank of Mississippi | 7(a) | 10 | $7.9M | 2.2% | 2 | +8 |
| 17 | Metro City Bank | 7(a) | 7 | $12.0M | 1.5% | 5 | +2 |
| 18 | Millennial Bank | 7(a) | 7 | $6.0M | 1.5% | 5 | +2 |
| 19 | First Financial Bank | 7(a) | 7 | $2.5M | 1.5% | 8 | -1 |
| 20 | FirstBank | 7(a) | 6 | $10.3M | 1.3% | 1 | +5 |
| 21 | Trustmark Bank | 7(a) | 6 | $4.1M | 1.3% | 3 | +3 |
| 22 | Peoples Bank of Alabama | 7(a) | 6 | $3.2M | 1.3% | 1 | +5 |
| 23 | Customers Bank | 7(a) | 5 | $4.2M | 1.1% | 0 | new |
| 24 | Readycap Lending, LLC | 7(a) | 5 | $4.1M | 1.1% | 3 | +2 |
| 25 | Renasant Bank | 7(a) | 5 | $3.9M | 1.1% | 3 | +2 |
| 26 | United Bank | 7(a) | 5 | $2.4M | 1.1% | 0 | new |
| 27 | Celtic Bank Corporation | 7(a) | 4 | $12.1M | 0.9% | 0 | new |
| 28 | BankPlus | 7(a) | 4 | $7.1M | 0.9% | 0 | new |
| 29 | Hancock Whitney Bank | 7(a) | 4 | $5.8M | 0.9% | 2 | +2 |
| 30 | Byline Bank | 7(a) | 4 | $2.9M | 0.9% | 0 | new |
| 31 | Central State Bank | 7(a) | 4 | $2.2M | 0.9% | 0 | new |
| 32 | Peoples Bank | 7(a) | 3 | $5.7M | 0.6% | 4 | -1 |
| 33 | HomeTrust Bank | 7(a) | 3 | $4.7M | 0.6% | 2 | +1 |
| 34 | Wallis Bank | 7(a) | 3 | $4.6M | 0.6% | 0 | new |
| 35 | ServisFirst Bank | 7(a) | 3 | $1.9M | 0.6% | 9 | -6 |
| 36 | Loyal Trust Bank | 7(a) | 3 | $1.8M | 0.6% | 0 | new |
| 37 | United Community Bank | 7(a) | 3 | $1.2M | 0.6% | 18 | -15 |
| 38 | The State Bank of Faribault | 7(a) | 3 | $1.0M | 0.6% | 0 | new |
| 39 | Valley National Bank | 7(a) | 3 | $880K | 0.6% | 0 | new |
| 40 | First Citizens Bank | 7(a) | 3 | $655K | 0.6% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Jefferson County | 95 | $72.0M | 20.6% | 81 | +14 |
| 2 | Mobile County | 39 | $27.5M | 8.4% | 26 | +13 |
| 3 | Madison County | 38 | $38.0M | 8.2% | 36 | +2 |
| 4 | Shelby County | 38 | $34.9M | 8.2% | 25 | +13 |
| 5 | Montgomery County | 28 | $24.8M | 6.1% | 10 | +18 |
| 6 | Baldwin County | 22 | $20.6M | 4.8% | 26 | -4 |
| 7 | Houston County | 19 | $18.2M | 4.1% | 6 | +13 |
| 8 | Lee County | 19 | $17.0M | 4.1% | 13 | +6 |
| 9 | Tuscaloosa County | 18 | $12.7M | 3.9% | 21 | -3 |
| 10 | Morgan County | 12 | $14.5M | 2.6% | 9 | +3 |
| 11 | Calhoun County | 9 | $11.4M | 1.9% | 6 | +3 |
| 12 | Marshall County | 9 | $10.4M | 1.9% | 5 | +4 |
| 13 | St. Clair County | 8 | $2.5M | 1.7% | 8 | 0 |
| 14 | Cherokee County | 7 | $3.4M | 1.5% | 1 | +6 |
| 15 | DeKalb County | 7 | $3.0M | 1.5% | 9 | -2 |
| 16 | Russell County | 6 | $5.0M | 1.3% | 2 | +4 |
| 17 | Walker County | 6 | $3.0M | 1.3% | 5 | +1 |
| 18 | Limestone County | 5 | $3.2M | 1.1% | 1 | +4 |
| 19 | Geneva County | 5 | $721K | 1.1% | 1 | +4 |
| 20 | Elmore County | 5 | $3.7M | 1.1% | 1 | +4 |
| 21 | Barbour County | 5 | $2.6M | 1.1% | 3 | +2 |
| 22 | Tallapoosa County | 4 | $4.9M | 0.9% | 3 | +1 |
| 23 | Covington County | 4 | $2.8M | 0.9% | 3 | +1 |
| 24 | Dale County | 3 | $4.0M | 0.6% | 0 | new |
| 25 | Pike County | 3 | $6.1M | 0.6% | 3 | 0 |
| 26 | Cullman County | 3 | $7.0M | 0.6% | 7 | -4 |
| 27 | Autauga County | 3 | $4.4M | 0.6% | 1 | +2 |
| 28 | Cleburne County | 3 | $4.5M | 0.6% | 0 | new |
| 29 | Lauderdale County | 3 | $2.4M | 0.6% | 1 | +2 |
| 30 | Talladega County | 3 | $661K | 0.6% | 2 | +1 |
| 31 | Chambers County | 3 | $2.0M | 0.6% | 4 | -1 |
| 32 | Fayette County | 3 | $1.5M | 0.6% | 1 | +2 |
| 33 | Etowah County | 2 | — | 0.4% | 4 | -2 |
| 34 | Colbert County | 2 | — | 0.4% | 2 | 0 |
| 35 | Pickens County | 2 | — | 0.4% | 0 | new |
| 36 | Clay County | 2 | — | 0.4% | 1 | +1 |
| 37 | Escambia County | 2 | — | 0.4% | 0 | new |
| 38 | Crenshaw County | 2 | — | 0.4% | 2 | 0 |
| 39 | Monroe County | 2 | — | 0.4% | 1 | +1 |
| 40 | Marengo County | 2 | — | 0.4% | 0 | new |
The 40 counties with the most approvals; every county is on the Alabama page.
FY2021 against FY2020
| Alabama | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 365 | 280 |
| 7(a) dollars | $302M | $183M |
| Median 7(a) approval | $386K | $314K |
| 504 approvals | 97 | 65 |
| 504 dollars | $90.2M | $60.7M |
| Jobs supported, as reported | 5,844 | 3,891 |
Questions and answers
Which lenders made the most SBA loans in Alabama in FY2021?
Southern Development Council (41), PNC Bank, National Association (32), Wells Fargo Bank National Association (31), Birmingham Citywide Local Development Company (23), United Midwest Savings Bank National Association (19). 93 lenders had at least one approval.
How many SBA loans were approved in Alabama in FY2021?
462: 365 under 7(a) worth $302M and 97 under 504 worth $90.2M.
Which Alabama counties had the most SBA approvals in FY2021?
Jefferson County (95), Mobile County (39), Madison County (38), Shelby County (38), Montgomery County (28).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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