FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Alabama, FY2023
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 464 loans in Alabama: 407 under 7(a) and 57 under 504, worth $344M.
That is up 23% on FY2022, when there were 378 approvals worth $256M.
Alabama accounted for 0.7% of the 63,286 approvals nationwide that year. 97 lenders had at least one approval in the state; The Huntington National Bank had the most, 37.
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 FY2023, of 97 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 37 | $12.2M | 8.0% | 18 | +19 |
| 2 | Florida Business Development Corporation | 504 | 23 | $18.2M | 5.0% | 18 | +5 |
| 3 | Wells Fargo Bank National Association | 7(a) | 23 | $1.3M | 5.0% | 22 | +1 |
| 4 | Live Oak Banking Company | 7(a) | 22 | $35.0M | 4.7% | 8 | +14 |
| 5 | BayFirst National Bank | 7(a) | 21 | $2.9M | 4.5% | 7 | +14 |
| 6 | BankFirst Financial Services | 7(a) | 19 | $3.3M | 4.1% | 23 | -4 |
| 7 | Newtek Bank, National Association | 7(a) | 16 | $2.3M | 3.4% | 0 | new |
| 8 | PNC Bank, National Association | 7(a) | 15 | $1.5M | 3.2% | 8 | +7 |
| 9 | SouthState Bank, National Association | 7(a) | 14 | $10.0M | 3.0% | 6 | +8 |
| 10 | Pinnacle Bank | 7(a) | 13 | $26.8M | 2.8% | 6 | +7 |
| 11 | Southern Development Council | 504 | 13 | $15.4M | 2.8% | 25 | -12 |
| 12 | Florida First Capital Finance Corporation, Inc. | 504 | 12 | $9.6M | 2.6% | 19 | -7 |
| 13 | Sabre Finance | 7(a) | 12 | $1.3M | 2.6% | 2 | +10 |
| 14 | Newtek Small Business Finance, Inc. | 7(a) | 11 | $16.7M | 2.4% | 20 | -9 |
| 15 | Readycap Lending, LLC | 7(a) | 11 | $10.6M | 2.4% | 18 | -7 |
| 16 | Renasant Bank | 7(a) | 10 | $7.3M | 2.2% | 6 | +4 |
| 17 | Hancock Whitney Bank | 7(a) | 9 | $3.5M | 1.9% | 3 | +6 |
| 18 | United Midwest Savings Bank National Association | 7(a) | 9 | $1.3M | 1.9% | 12 | -3 |
| 19 | SouthPoint Bank | 7(a) | 8 | $10.5M | 1.7% | 13 | -5 |
| 20 | Birmingham Citywide Local Development Company | 504 | 8 | $9.7M | 1.7% | 13 | -5 |
| 21 | United Community Bank | 7(a) | 8 | $6.9M | 1.7% | 6 | +2 |
| 22 | Community Bank of Mississippi | 7(a) | 6 | $7.7M | 1.3% | 3 | +3 |
| 23 | Regions Bank | 7(a) | 6 | $1.9M | 1.3% | 10 | -4 |
| 24 | Peoples Bank of Alabama | 7(a) | 6 | $1.8M | 1.3% | 8 | -2 |
| 25 | BankPlus | 7(a) | 5 | $6.4M | 1.1% | 6 | -1 |
| 26 | Central State Bank | 7(a) | 5 | $1.7M | 1.1% | 2 | +3 |
| 27 | Northeast Bank | 7(a) | 5 | $350K | 1.1% | 1 | +4 |
| 28 | Beacon Bank and Trust | 7(a) | 4 | $11.1M | 0.9% | 1 | +3 |
| 29 | Millennial Bank | 7(a) | 4 | $9.9M | 0.9% | 3 | +1 |
| 30 | Truist Bank | 7(a) | 4 | $8.9M | 0.9% | 3 | +1 |
| 31 | Peoples Bank | 7(a) | 4 | $8.0M | 0.9% | 1 | +3 |
| 32 | River Bank and Trust | 7(a) | 4 | $3.3M | 0.9% | 0 | new |
| 33 | ServisFirst Bank | 7(a) | 4 | $3.1M | 0.9% | 6 | -2 |
| 34 | 22nd State Bank, A Division of 22nd State Banking Company | 7(a) | 4 | $1.3M | 0.9% | 7 | -3 |
| 35 | Citizens Bank | 7(a) | 3 | $4.0M | 0.6% | 0 | new |
| 36 | Metro City Bank | 7(a) | 3 | $3.4M | 0.6% | 2 | +1 |
| 37 | FirstBank | 7(a) | 3 | $955K | 0.6% | 2 | +1 |
| 38 | Celtic Bank Corporation | 7(a) | 3 | $255K | 0.6% | 3 | 0 |
| 39 | The Bancorp Bank National Association | 7(a) | 2 | — | 0.4% | 1 | +1 |
| 40 | Centerstone SBA Lending, Inc. | 7(a) | 2 | — | 0.4% | 1 | +1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Jefferson County | 77 | $42.5M | 16.6% | 81 | -4 |
| 2 | Madison County | 46 | $28.2M | 9.9% | 24 | +22 |
| 3 | Mobile County | 46 | $29.9M | 9.9% | 41 | +5 |
| 4 | Shelby County | 43 | $42.8M | 9.3% | 27 | +16 |
| 5 | Baldwin County | 39 | $40.3M | 8.4% | 36 | +3 |
| 6 | Lee County | 27 | $22.2M | 5.8% | 14 | +13 |
| 7 | Montgomery County | 26 | $25.2M | 5.6% | 20 | +6 |
| 8 | Tuscaloosa County | 17 | $8.9M | 3.7% | 15 | +2 |
| 9 | Cullman County | 15 | $9.7M | 3.2% | 1 | +14 |
| 10 | Houston County | 13 | $8.2M | 2.8% | 11 | +2 |
| 11 | Limestone County | 7 | $8.8M | 1.5% | 4 | +3 |
| 12 | Etowah County | 6 | $4.4M | 1.3% | 4 | +2 |
| 13 | Calhoun County | 6 | $1.2M | 1.3% | 5 | +1 |
| 14 | Autauga County | 6 | $7.8M | 1.3% | 2 | +4 |
| 15 | Walker County | 6 | $4.9M | 1.3% | 4 | +2 |
| 16 | DeKalb County | 6 | $6.1M | 1.3% | 11 | -5 |
| 17 | St. Clair County | 5 | $598K | 1.1% | 4 | +1 |
| 18 | Tallapoosa County | 5 | $5.4M | 1.1% | 1 | +4 |
| 19 | Randolph County | 5 | $3.8M | 1.1% | 1 | +4 |
| 20 | Cleburne County | 5 | $5.6M | 1.1% | 1 | +4 |
| 21 | Lauderdale County | 5 | $2.1M | 1.1% | 2 | +3 |
| 22 | Dale County | 4 | $1.2M | 0.9% | 0 | new |
| 23 | Elmore County | 4 | $245K | 0.9% | 0 | new |
| 24 | Marshall County | 4 | $1.9M | 0.9% | 10 | -6 |
| 25 | Morgan County | 3 | $1.4M | 0.6% | 6 | -3 |
| 26 | Franklin County | 3 | $2.5M | 0.6% | 0 | new |
| 27 | Coffee County | 3 | $845K | 0.6% | 2 | +1 |
| 28 | Dallas County | 3 | $5.1M | 0.6% | 0 | new |
| 29 | Chambers County | 3 | $1.8M | 0.6% | 1 | +2 |
| 30 | Blount County | 2 | — | 0.4% | 2 | 0 |
| 31 | Talladega County | 2 | — | 0.4% | 4 | -2 |
| 32 | Lawrence County | 2 | — | 0.4% | 1 | +1 |
| 33 | Butler County | 2 | — | 0.4% | 2 | 0 |
| 34 | Marion County | 1 | — | 0.2% | 2 | -1 |
| 35 | Cherokee County | 1 | — | 0.2% | 4 | -3 |
| 36 | Pike County | 1 | — | 0.2% | 3 | -2 |
| 37 | Russell County | 1 | — | 0.2% | 3 | -2 |
| 38 | Geneva County | 1 | — | 0.2% | 7 | -6 |
| 39 | Lowndes County | 1 | — | 0.2% | 0 | new |
| 40 | Henry County | 1 | — | 0.2% | 1 | 0 |
The 40 counties with the most approvals; every county is on the Alabama page.
FY2023 against FY2022
| Alabama | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 407 | 302 |
| 7(a) dollars | $287M | $180M |
| Median 7(a) approval | $275K | $289K |
| 504 approvals | 57 | 76 |
| 504 dollars | $57.1M | $76.6M |
| Jobs supported, as reported | 5,085 | 4,065 |
Questions and answers
Which lenders made the most SBA loans in Alabama in FY2023?
The Huntington National Bank (37), Florida Business Development Corporation (23), Wells Fargo Bank National Association (23), Live Oak Banking Company (22), BayFirst National Bank (21). 97 lenders had at least one approval.
How many SBA loans were approved in Alabama in FY2023?
464: 407 under 7(a) worth $287M and 57 under 504 worth $57.1M.
Which Alabama counties had the most SBA approvals in FY2023?
Jefferson County (77), Madison County (46), Mobile County (46), Shelby County (43), Baldwin County (39).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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