SBA Ledger

States › North Carolina › FY2023

FY20231 Oct 2022 – 30 Sep 2023

SBA loans in North Carolina, 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 1,376 loans in North Carolina: 1,303 under 7(a) and 73 under 504, worth $960M.

That is up 25% on FY2022, when there were 1,102 approvals worth $872M.

North Carolina accounted for 2.2% of the 63,286 approvals nationwide that year. 116 lenders had at least one approval in the state; The Huntington National Bank had the most, 137.

1,376approvalsFY2022: 1,102
$960Mdollars approvedFY2022: $872M
$305Kmedian 7(a) approvalFY2022: $350K
116lenders with an approval
18,368jobs supported, as reported

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 FY2023, of 116 active.

#LenderProgramApprovalsDollarsShare of stateFY2022Change
1The Huntington National Bank7(a)137$37.2M10.0%64+73
2Wells Fargo Bank National Association7(a)119$15.0M8.6%88+31
3Live Oak Banking Company7(a)96$126M7.0%89+7
4Business Expansion Funding Corporation50445$52.5M3.3%76-31
5BayFirst National Bank7(a)45$6.1M3.3%23+22
6TD Bank, National Association7(a)44$9.4M3.2%20+24
7TowneBank7(a)42$31.6M3.1%52-10
8PNC Bank, National Association7(a)38$9.7M2.8%19+19
9Pinnacle Bank7(a)36$32.5M2.6%360
10Bank of Oak Ridge7(a)36$30.8M2.6%16+20
11Newtek Bank, National Association7(a)33$14.9M2.4%0new
12Readycap Lending, LLC7(a)32$19.8M2.3%27+5
13Bank of America, National Association7(a)31$12.2M2.3%7+24
14SouthState Bank, National Association7(a)31$12.0M2.3%15+16
15United Midwest Savings Bank National Association7(a)27$6.9M2.0%19+8
16First National Bank of Pennsylvania7(a)24$28.0M1.7%22+2
17First Bank7(a)24$23.3M1.7%13+11
18Newtek Small Business Finance, Inc.7(a)22$19.5M1.6%53-31
19The Fidelity Bank7(a)22$18.8M1.6%26-4
20Northeast Bank7(a)22$1.2M1.6%1+21
21Truist Bank7(a)21$21.4M1.5%17+4
22504 Capital Corporation50420$27.9M1.5%23-3
23Celtic Bank Corporation7(a)20$4.4M1.5%26-6
24Carolina Small Business Development Fund7(a)20$3.9M1.5%6+14
25Citizens Bank7(a)19$19.8M1.4%14+5
26United Community Bank7(a)19$15.5M1.4%17+2
27HomeTrust Bank7(a)18$21.9M1.3%23-5
28GBank7(a)17$52.0M1.2%16+1
29First Financial Bank7(a)16$13.1M1.2%13+3
30First Bank of the Lake7(a)14$8.1M1.0%7+7
31First Internet Bank of Indiana7(a)13$18.7M0.9%2+11
32First-Citizens Bank & Trust Company7(a)13$11.7M0.9%5+8
33Harvest Small Business Finance, LLC7(a)12$10.1M0.9%1+11
34First Community Bank7(a)12$7.2M0.9%16-4
35Mountain Bizcapital, Inc.7(a)12$1.6M0.9%15-3
36Truliant FCU7(a)11$20.1M0.8%6+5
37North State Bank7(a)10$6.4M0.7%9+1
38U.S. Bank, National Association7(a)9$1.0M0.7%5+4
39Byline Bank7(a)8$12.1M0.6%6+2
40Carolina Business Capital, Inc.5048$5.5M0.6%13-5

Approvals by county

#CountyApprovalsDollarsShare of stateFY2022Change
1Mecklenburg County244$161M17.7%175+69
2Wake County219$119M15.9%162+57
3Guilford County72$62.5M5.2%50+22
4Buncombe County62$40.7M4.5%46+16
5New Hanover County57$34.9M4.1%49+8
6Union County44$18.7M3.2%27+17
7Durham County41$30.8M3.0%33+8
8Cabarrus County35$25.4M2.5%18+17
9Forsyth County34$32.8M2.5%30+4
10Gaston County32$17.1M2.3%26+6
11Cumberland County30$17.3M2.2%19+11
12Iredell County28$25.2M2.0%26+2
13Johnston County25$12.6M1.8%22+3
14Onslow County22$10.1M1.6%220
15Pitt County21$14.8M1.5%210
16Catawba County20$23.2M1.5%9+11
17Brunswick County20$10.6M1.5%15+5
18Moore County17$22.7M1.2%5+12
19Henderson County17$14.5M1.2%20-3
20Orange County15$3.5M1.1%9+6
21Chatham County14$11.4M1.0%7+7
22Surry County12$7.4M0.9%13-1
23Pender County11$7.5M0.8%5+6
24Alamance County11$14.4M0.8%17-6
25Burke County11$5.6M0.8%7+4
26Dare County10$14.2M0.7%11-1
27Watauga County10$9.3M0.7%5+5
28Harnett County10$5.7M0.7%6+4
29Craven County10$4.1M0.7%7+3
30Rowan County10$6.5M0.7%8+2
31Pasquotank County9$9.1M0.7%7+2
32Randolph County8$3.3M0.6%11-3
33Lee County8$8.8M0.6%5+3
34Stanly County8$3.3M0.6%15-7
35Wilson County8$6.2M0.6%5+3
36Rutherford County8$6.2M0.6%7+1
37Davidson County8$3.1M0.6%6+2
38Robeson County7$3.5M0.5%5+2
39Cleveland County6$4.7M0.4%7-1
40Wayne County6$2.8M0.4%11-5

The 40 counties with the most approvals; every county is on the North Carolina page.

FY2023 against FY2022

North CarolinaFY2023FY2022
7(a) approvals1,303982
7(a) dollars$875M$752M
Median 7(a) approval$305K$350K
504 approvals73120
504 dollars$86.0M$120M
Jobs supported, as reported18,36815,155

Questions and answers

Which lenders made the most SBA loans in North Carolina in FY2023?

The Huntington National Bank (137), Wells Fargo Bank National Association (119), Live Oak Banking Company (96), Business Expansion Funding Corporation (45), BayFirst National Bank (45). 116 lenders had at least one approval.

How many SBA loans were approved in North Carolina in FY2023?

1,376: 1,303 under 7(a) worth $875M and 73 under 504 worth $86.0M.

Which North Carolina counties had the most SBA approvals in FY2023?

Mecklenburg County (244), Wake County (219), Guilford County (72), Buncombe County (62), New Hanover County (57).

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