States › North Carolina › FY2020
FY20201 Oct 2019 – 30 Sep 2020
SBA loans in North Carolina, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 1,066 loans in North Carolina: 974 under 7(a) and 92 under 504, worth $843M.
That is down 11% on FY2019, when there were 1,193 approvals worth $687M.
North Carolina accounted for 2.2% of the 49,417 approvals nationwide that year. 115 lenders had at least one approval in the state; Live Oak Banking Company had the most, 86.
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 North Carolina businesses in FY2020, of 115 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 7(a) | 86 | $128M | 8.1% | 57 | +29 |
| 2 | Wells Fargo Bank National Association | 7(a) | 81 | $16.5M | 7.6% | 145 | -64 |
| 3 | Business Expansion Funding Corporation | 504 | 63 | $56.8M | 5.9% | 50 | +13 |
| 4 | Truist Bank | 7(a) | 48 | $33.6M | 4.5% | 96 | -48 |
| 5 | Pinnacle Bank | 7(a) | 44 | $40.0M | 4.1% | 42 | +2 |
| 6 | North State Bank | 7(a) | 43 | $30.7M | 4.0% | 17 | +26 |
| 7 | United Community Bank | 7(a) | 37 | $23.8M | 3.5% | 46 | -9 |
| 8 | TowneBank | 7(a) | 36 | $31.0M | 3.4% | 2 | +34 |
| 9 | First Bank | 7(a) | 36 | $20.4M | 3.4% | 22 | +14 |
| 10 | United Midwest Savings Bank National Association | 7(a) | 35 | $6.5M | 3.3% | 36 | -1 |
| 11 | HomeTrust Bank | 7(a) | 24 | $26.1M | 2.3% | 28 | -4 |
| 12 | First National Bank of Pennsylvania | 7(a) | 22 | $23.1M | 2.1% | 26 | -4 |
| 13 | Capital Bank, National Association | 7(a) | 22 | $19.8M | 2.1% | 10 | +12 |
| 14 | TD Bank, National Association | 7(a) | 21 | $15.5M | 2.0% | 24 | -3 |
| 15 | The Bancorp Bank National Association | 7(a) | 18 | $6.9M | 1.7% | 12 | +6 |
| 16 | Southern Bank and Trust Company | 7(a) | 18 | $5.6M | 1.7% | 15 | +3 |
| 17 | Fifth Third Bank | 7(a) | 17 | $6.4M | 1.6% | 20 | -3 |
| 18 | BayFirst National Bank | 7(a) | 17 | $3.7M | 1.6% | 41 | -24 |
| 19 | Mountain Bizcapital, Inc. | 7(a) | 17 | $2.3M | 1.6% | 10 | +7 |
| 20 | Newtek Small Business Finance, Inc. | 7(a) | 16 | $8.4M | 1.5% | 35 | -19 |
| 21 | First-Citizens Bank & Trust Company | 7(a) | 14 | $9.3M | 1.3% | 18 | -4 |
| 22 | GBank | 7(a) | 13 | $37.6M | 1.2% | 14 | -1 |
| 23 | Carolina Business Capital, Inc. | 504 | 13 | $15.0M | 1.2% | 11 | +2 |
| 24 | Readycap Lending, LLC | 7(a) | 13 | $10.1M | 1.2% | 14 | -1 |
| 25 | First Community Bank | 7(a) | 13 | $3.3M | 1.2% | 27 | -14 |
| 26 | Celtic Bank Corporation | 7(a) | 12 | $15.0M | 1.1% | 31 | -19 |
| 27 | IncredibleBank | 7(a) | 12 | $10.4M | 1.1% | 9 | +3 |
| 28 | Stearns Bank National Association | 7(a) | 12 | $2.1M | 1.1% | 40 | -28 |
| 29 | Citizens Bank | 7(a) | 11 | $18.1M | 1.0% | 4 | +7 |
| 30 | The Huntington National Bank | 7(a) | 11 | $9.0M | 1.0% | 12 | -1 |
| 31 | PNC Bank, National Association | 7(a) | 11 | $6.1M | 1.0% | 21 | -10 |
| 32 | First Internet Bank of Indiana | 7(a) | 9 | $13.2M | 0.8% | 0 | new |
| 33 | Five Star Bank | 7(a) | 9 | $1.9M | 0.8% | 9 | 0 |
| 34 | 504 Capital Corporation | 504 | 8 | $10.1M | 0.8% | 3 | +5 |
| 35 | First Horizon Bank | 7(a) | 8 | $7.9M | 0.8% | 7 | +1 |
| 36 | SouthState Bank, National Association | 7(a) | 8 | $7.0M | 0.8% | 15 | -7 |
| 37 | Carolina Small Business Development Fund | 7(a) | 8 | $1.2M | 0.8% | 8 | 0 |
| 38 | First Financial Bank | 7(a) | 7 | $5.5M | 0.7% | 7 | 0 |
| 39 | Beacon Bank and Trust | 7(a) | 6 | $10.0M | 0.6% | 2 | +4 |
| 40 | Uwharrie Bank | 7(a) | 6 | $2.4M | 0.6% | 5 | +1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Mecklenburg County | 179 | $149M | 16.8% | 216 | -37 |
| 2 | Wake County | 164 | $121M | 15.4% | 199 | -35 |
| 3 | Buncombe County | 47 | $41.7M | 4.4% | 55 | -8 |
| 4 | New Hanover County | 47 | $30.9M | 4.4% | 60 | -13 |
| 5 | Guilford County | 42 | $42.7M | 3.9% | 46 | -4 |
| 6 | Durham County | 37 | $24.9M | 3.5% | 37 | 0 |
| 7 | Forsyth County | 31 | $30.6M | 2.9% | 23 | +8 |
| 8 | Cabarrus County | 27 | $23.7M | 2.5% | 28 | -1 |
| 9 | Union County | 27 | $20.0M | 2.5% | 38 | -11 |
| 10 | Cumberland County | 26 | $25.2M | 2.4% | 19 | +7 |
| 11 | Iredell County | 23 | $21.2M | 2.2% | 28 | -5 |
| 12 | Onslow County | 22 | $22.2M | 2.1% | 12 | +10 |
| 13 | Henderson County | 22 | $11.6M | 2.1% | 18 | +4 |
| 14 | Johnston County | 21 | $18.4M | 2.0% | 15 | +6 |
| 15 | Brunswick County | 18 | $10.4M | 1.7% | 8 | +10 |
| 16 | Pitt County | 17 | $13.1M | 1.6% | 19 | -2 |
| 17 | Catawba County | 17 | $12.2M | 1.6% | 16 | +1 |
| 18 | Gaston County | 14 | $13.5M | 1.3% | 23 | -9 |
| 19 | Dare County | 12 | $8.5M | 1.1% | 8 | +4 |
| 20 | Alamance County | 12 | $13.0M | 1.1% | 12 | 0 |
| 21 | Randolph County | 11 | $5.7M | 1.0% | 12 | -1 |
| 22 | Rowan County | 10 | $6.1M | 0.9% | 6 | +4 |
| 23 | Chatham County | 10 | $6.0M | 0.9% | 10 | 0 |
| 24 | Orange County | 9 | $3.5M | 0.8% | 24 | -15 |
| 25 | Davidson County | 9 | $15.3M | 0.8% | 12 | -3 |
| 26 | Macon County | 9 | $3.5M | 0.8% | 3 | +6 |
| 27 | Haywood County | 9 | $4.2M | 0.8% | 10 | -1 |
| 28 | Surry County | 8 | $2.0M | 0.8% | 21 | -13 |
| 29 | Beaufort County | 8 | $7.4M | 0.8% | 2 | +6 |
| 30 | Lincoln County | 8 | $4.6M | 0.8% | 4 | +4 |
| 31 | Wilkes County | 8 | $1.9M | 0.8% | 13 | -5 |
| 32 | Moore County | 7 | $6.6M | 0.7% | 11 | -4 |
| 33 | Craven County | 7 | $8.9M | 0.7% | 7 | 0 |
| 34 | Madison County | 7 | $8.3M | 0.7% | 4 | +3 |
| 35 | McDowell County | 7 | $2.1M | 0.7% | 3 | +4 |
| 36 | Watauga County | 6 | $1.9M | 0.6% | 6 | 0 |
| 37 | Cleveland County | 6 | $8.4M | 0.6% | 7 | -1 |
| 38 | Wayne County | 6 | $9.6M | 0.6% | 3 | +3 |
| 39 | Rutherford County | 6 | $5.3M | 0.6% | 10 | -4 |
| 40 | Nash County | 6 | $6.0M | 0.6% | 9 | -3 |
The 40 counties with the most approvals; every county is on the North Carolina page.
FY2020 against FY2019
| North Carolina | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 974 | 1,122 |
| 7(a) dollars | $751M | $629M |
| Median 7(a) approval | $350K | $255K |
| 504 approvals | 92 | 71 |
| 504 dollars | $92.6M | $57.1M |
| Jobs supported, as reported | 14,788 | 13,865 |
Questions and answers
Which lenders made the most SBA loans in North Carolina in FY2020?
Live Oak Banking Company (86), Wells Fargo Bank National Association (81), Business Expansion Funding Corporation (63), Truist Bank (48), Pinnacle Bank (44). 115 lenders had at least one approval.
How many SBA loans were approved in North Carolina in FY2020?
1,066: 974 under 7(a) worth $751M and 92 under 504 worth $92.6M.
Which North Carolina counties had the most SBA approvals in FY2020?
Mecklenburg County (179), Wake County (164), Buncombe County (47), New Hanover County (47), Guilford County (42).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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