FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Alabama, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 563 loans in Alabama: 502 under 7(a) and 61 under 504, worth $361M.
That is up 21% on FY2023, when there were 464 approvals worth $344M.
Alabama accounted for 0.7% of the 76,235 approvals nationwide that year. 91 lenders had at least one approval in the state; Newtek Bank, National Association had the most, 55.
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 FY2024, of 91 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 7(a) | 55 | $26.8M | 9.8% | 16 | +39 |
| 2 | The Huntington National Bank | 7(a) | 38 | $19.8M | 6.7% | 37 | +1 |
| 3 | BayFirst National Bank | 7(a) | 33 | $5.3M | 5.9% | 21 | +12 |
| 4 | Readycap Lending, LLC | 7(a) | 29 | $4.6M | 5.2% | 11 | +18 |
| 5 | Northeast Bank | 7(a) | 29 | $3.1M | 5.2% | 5 | +24 |
| 6 | Live Oak Banking Company | 7(a) | 24 | $39.6M | 4.3% | 22 | +2 |
| 7 | Sabre Finance | 7(a) | 23 | $3.7M | 4.1% | 12 | +11 |
| 8 | Wells Fargo Bank National Association | 7(a) | 20 | $2.3M | 3.6% | 23 | -3 |
| 9 | Florida Business Development Corporation | 504 | 18 | $23.0M | 3.2% | 23 | -5 |
| 10 | Florida First Capital Finance Corporation, Inc. | 504 | 17 | $16.0M | 3.0% | 12 | +5 |
| 11 | BankFirst Financial Services | 7(a) | 15 | $6.2M | 2.7% | 19 | -4 |
| 12 | Southern Development Council | 504 | 14 | $19.5M | 2.5% | 13 | +1 |
| 13 | United Midwest Savings Bank National Association | 7(a) | 14 | $6.3M | 2.5% | 9 | +5 |
| 14 | SouthState Bank, National Association | 7(a) | 14 | $4.7M | 2.5% | 14 | 0 |
| 15 | River Bank and Trust | 7(a) | 13 | $6.8M | 2.3% | 4 | +9 |
| 16 | First Bank of the Lake | 7(a) | 12 | $9.2M | 2.1% | 2 | +10 |
| 17 | Celtic Bank Corporation | 7(a) | 12 | $3.8M | 2.1% | 3 | +9 |
| 18 | Metro City Bank | 7(a) | 9 | $11.9M | 1.6% | 3 | +6 |
| 19 | Pinnacle Bank | 7(a) | 8 | $9.8M | 1.4% | 13 | -5 |
| 20 | Birmingham Citywide Local Development Company | 504 | 8 | $6.6M | 1.4% | 8 | 0 |
| 21 | PNC Bank, National Association | 7(a) | 8 | $340K | 1.4% | 15 | -7 |
| 22 | Peoples Bank of Alabama | 7(a) | 7 | $2.8M | 1.2% | 6 | +1 |
| 23 | Hancock Whitney Bank | 7(a) | 6 | $3.7M | 1.1% | 9 | -3 |
| 24 | First Financial Bank | 7(a) | 6 | $3.5M | 1.1% | 2 | +4 |
| 25 | Lendistry SBLC, LLC | 7(a) | 6 | $1.4M | 1.1% | 1 | +5 |
| 26 | Millennial Bank | 7(a) | 5 | $7.6M | 0.9% | 4 | +1 |
| 27 | SouthPoint Bank | 7(a) | 5 | $5.7M | 0.9% | 8 | -3 |
| 28 | Beacon Bank and Trust | 7(a) | 4 | $7.3M | 0.7% | 4 | 0 |
| 29 | Peoples Bank | 7(a) | 4 | $4.6M | 0.7% | 4 | 0 |
| 30 | GBank | 7(a) | 4 | $4.5M | 0.7% | 1 | +3 |
| 31 | Merchants & Marine Bank | 7(a) | 4 | $2.2M | 0.7% | 0 | new |
| 32 | Sabre Finance | 504 | 4 | $1.6M | 0.7% | 0 | new |
| 33 | BankPlus | 7(a) | 4 | $896K | 0.7% | 5 | -1 |
| 34 | Community Bank of Mississippi | 7(a) | 4 | $757K | 0.7% | 6 | -2 |
| 35 | Heritage Bank Inc | 7(a) | 4 | $600K | 0.7% | 0 | new |
| 36 | Hanover Community Bank | 7(a) | 3 | $7.6M | 0.5% | 0 | new |
| 37 | Regions Bank | 7(a) | 3 | $5.1M | 0.5% | 6 | -3 |
| 38 | Bank of Hope | 7(a) | 3 | $4.6M | 0.5% | 1 | +2 |
| 39 | Troy Bank & Trust Company | 7(a) | 3 | $3.9M | 0.5% | 0 | new |
| 40 | Enterprise Bank & Trust | 7(a) | 3 | $3.4M | 0.5% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Jefferson County | 120 | $64.4M | 21.3% | 77 | +43 |
| 2 | Baldwin County | 62 | $36.2M | 11.0% | 39 | +23 |
| 3 | Madison County | 55 | $32.8M | 9.8% | 46 | +9 |
| 4 | Mobile County | 48 | $27.7M | 8.5% | 46 | +2 |
| 5 | Shelby County | 31 | $12.4M | 5.5% | 43 | -12 |
| 6 | Montgomery County | 21 | $16.8M | 3.7% | 26 | -5 |
| 7 | Lee County | 17 | $5.6M | 3.0% | 27 | -10 |
| 8 | Houston County | 14 | $4.9M | 2.5% | 13 | +1 |
| 9 | Tuscaloosa County | 14 | $6.8M | 2.5% | 17 | -3 |
| 10 | Marshall County | 12 | $6.4M | 2.1% | 4 | +8 |
| 11 | Morgan County | 11 | $3.2M | 2.0% | 3 | +8 |
| 12 | Calhoun County | 10 | $6.0M | 1.8% | 6 | +4 |
| 13 | Etowah County | 9 | $9.6M | 1.6% | 6 | +3 |
| 14 | DeKalb County | 9 | $10.2M | 1.6% | 6 | +3 |
| 15 | Elmore County | 9 | $7.5M | 1.6% | 4 | +5 |
| 16 | Limestone County | 8 | $7.9M | 1.4% | 7 | +1 |
| 17 | Cullman County | 8 | $4.9M | 1.4% | 15 | -7 |
| 18 | Autauga County | 7 | $6.5M | 1.2% | 6 | +1 |
| 19 | Lauderdale County | 7 | $6.8M | 1.2% | 5 | +2 |
| 20 | Dale County | 6 | $4.1M | 1.1% | 4 | +2 |
| 21 | St. Clair County | 6 | $1.6M | 1.1% | 5 | +1 |
| 22 | Tallapoosa County | 6 | $7.1M | 1.1% | 5 | +1 |
| 23 | Walker County | 5 | $9.4M | 0.9% | 6 | -1 |
| 24 | Coffee County | 5 | $3.7M | 0.9% | 3 | +2 |
| 25 | Covington County | 4 | $4.0M | 0.7% | 0 | new |
| 26 | Chilton County | 4 | $3.4M | 0.7% | 1 | +3 |
| 27 | Jackson County | 4 | $4.4M | 0.7% | 1 | +3 |
| 28 | Chambers County | 4 | $735K | 0.7% | 3 | +1 |
| 29 | Pike County | 3 | $490K | 0.5% | 1 | +2 |
| 30 | Russell County | 3 | $2.8M | 0.5% | 1 | +2 |
| 31 | Bibb County | 3 | $700K | 0.5% | 1 | +2 |
| 32 | Escambia County | 3 | $264K | 0.5% | 1 | +2 |
| 33 | Clarke County | 3 | $976K | 0.5% | 1 | +2 |
| 34 | Blount County | 2 | — | 0.4% | 2 | 0 |
| 35 | Geneva County | 2 | — | 0.4% | 1 | +1 |
| 36 | Randolph County | 2 | — | 0.4% | 5 | -3 |
| 37 | Franklin County | 2 | — | 0.4% | 3 | -1 |
| 38 | Winston County | 2 | — | 0.4% | 1 | +1 |
| 39 | Pickens County | 2 | — | 0.4% | 0 | new |
| 40 | Clay County | 2 | — | 0.4% | 0 | new |
The 40 counties with the most approvals; every county is on the Alabama page.
FY2024 against FY2023
| Alabama | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 502 | 407 |
| 7(a) dollars | $295M | $287M |
| Median 7(a) approval | $218K | $275K |
| 504 approvals | 61 | 57 |
| 504 dollars | $66.7M | $57.1M |
| Jobs supported, as reported | 6,368 | 5,085 |
Questions and answers
Which lenders made the most SBA loans in Alabama in FY2024?
Newtek Bank, National Association (55), The Huntington National Bank (38), BayFirst National Bank (33), Readycap Lending, LLC (29), Northeast Bank (29). 91 lenders had at least one approval.
How many SBA loans were approved in Alabama in FY2024?
563: 502 under 7(a) worth $295M and 61 under 504 worth $66.7M.
Which Alabama counties had the most SBA approvals in FY2024?
Jefferson County (120), Baldwin County (62), Madison County (55), Mobile County (48), Shelby County (31).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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