SBA Ledger

States › North Carolina › FY2024

FY20241 Oct 2023 – 30 Sep 2024

SBA loans in North Carolina, 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 1,679 loans in North Carolina: 1,603 under 7(a) and 76 under 504, worth $1.09bn.

That is up 22% on FY2023, when there were 1,376 approvals worth $960M.

North Carolina accounted for 2.2% of the 76,235 approvals nationwide that year. 124 lenders had at least one approval in the state; The Huntington National Bank had the most, 115.

1,679approvalsFY2023: 1,376
$1.09bndollars approvedFY2023: $960M
$250Kmedian 7(a) approvalFY2023: $305K
124lenders with an approval
17,855jobs 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 FY2024, of 124 active.

#LenderProgramApprovalsDollarsShare of stateFY2023Change
1The Huntington National Bank7(a)115$44.6M6.8%137-22
2Readycap Lending, LLC7(a)113$27.9M6.7%32+81
3Wells Fargo Bank National Association7(a)97$22.7M5.8%119-22
4Live Oak Banking Company7(a)96$106M5.7%960
5Newtek Bank, National Association7(a)93$42.2M5.5%33+60
6Northeast Bank7(a)83$7.8M4.9%22+61
7TD Bank, National Association7(a)66$16.4M3.9%44+22
8BayFirst National Bank7(a)60$9.0M3.6%45+15
9Business Expansion Funding Corporation50450$74.9M3.0%45+5
10SouthState Bank, National Association7(a)45$19.6M2.7%31+14
11Pinnacle Bank7(a)42$47.0M2.5%36+6
12Bank of America, National Association7(a)41$16.2M2.4%31+10
13United Midwest Savings Bank National Association7(a)40$15.9M2.4%27+13
14TowneBank7(a)35$40.3M2.1%42-7
15First Bank7(a)34$24.3M2.0%24+10
16Bank of Oak Ridge7(a)32$25.9M1.9%36-4
17First Bank of the Lake7(a)31$11.0M1.8%14+17
18First Community Bank7(a)29$9.9M1.7%12+17
19GBank7(a)24$85.4M1.4%17+7
20Celtic Bank Corporation7(a)24$8.2M1.4%20+4
21U.S. Bank, National Association7(a)24$7.3M1.4%9+15
22PNC Bank, National Association7(a)23$4.2M1.4%38-15
23The Fidelity Bank7(a)21$25.7M1.3%22-1
24Carolina Small Business Development Fund7(a)21$5.0M1.3%20+1
25First National Bank of Pennsylvania7(a)19$23.6M1.1%24-5
26JPMorgan Chase Bank, National Association7(a)19$2.7M1.1%8+11
27Fifth Third Bank7(a)18$8.5M1.1%5+13
28Lendistry SBLC, LLC7(a)18$3.6M1.1%2+16
29HomeTrust Bank7(a)17$22.3M1.0%18-1
30First-Citizens Bank & Trust Company7(a)16$22.2M1.0%13+3
31Citizens Bank7(a)15$13.4M0.9%19-4
32Colony Bank7(a)15$2.2M0.9%4+11
33Carolina Business Capital, Inc.50414$17.5M0.8%8+6
34United Community Bank7(a)12$10.0M0.7%19-7
35North State Bank7(a)11$13.7M0.7%10+1
36504 Capital Corporation50410$19.2M0.6%20-10
37Truliant FCU7(a)10$10.9M0.6%11-1
38Gulf Coast Bank and Trust Company7(a)10$7.4M0.6%8+2
39First Internet Bank of Indiana7(a)9$12.9M0.5%13-4
40Truist Bank7(a)9$11.7M0.5%21-12

Approvals by county

#CountyApprovalsDollarsShare of stateFY2023Change
1Wake County279$167M16.6%219+60
2Mecklenburg County275$165M16.4%244+31
3Guilford County89$67.7M5.3%72+17
4Durham County71$49.3M4.2%41+30
5New Hanover County69$58.4M4.1%57+12
6Buncombe County63$38.6M3.8%62+1
7Union County59$28.2M3.5%44+15
8Cabarrus County54$25.1M3.2%35+19
9Forsyth County51$33.9M3.0%34+17
10Cumberland County35$30.2M2.1%30+5
11Johnston County35$16.7M2.1%25+10
12Iredell County31$26.2M1.8%28+3
13Catawba County29$20.5M1.7%20+9
14Onslow County29$19.5M1.7%22+7
15Pitt County23$14.8M1.4%21+2
16Gaston County22$17.0M1.3%32-10
17Orange County22$11.1M1.3%15+7
18Brunswick County20$10.6M1.2%200
19Alamance County18$16.0M1.1%11+7
20Henderson County18$12.2M1.1%17+1
21Chatham County18$23.8M1.1%14+4
22Harnett County17$14.0M1.0%10+7
23Moore County15$14.5M0.9%17-2
24Dare County14$3.7M0.8%10+4
25Carteret County14$8.3M0.8%6+8
26Surry County14$4.9M0.8%12+2
27Pender County13$10.8M0.8%11+2
28Craven County13$13.9M0.8%10+3
29Wilkes County13$8.2M0.8%4+9
30Lincoln County12$2.4M0.7%6+6
31Davidson County12$5.1M0.7%8+4
32Rowan County11$8.0M0.7%10+1
33Jackson County11$1.9M0.7%4+7
34Nash County10$11.4M0.6%6+4
35Randolph County9$3.1M0.5%8+1
36Wilson County9$5.8M0.5%8+1
37Burke County9$7.4M0.5%11-2
38Watauga County8$4.9M0.5%10-2
39Robeson County8$6.9M0.5%7+1
40Haywood County8$5.3M0.5%5+3

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

FY2024 against FY2023

North CarolinaFY2024FY2023
7(a) approvals1,6031,303
7(a) dollars$970M$875M
Median 7(a) approval$250K$305K
504 approvals7673
504 dollars$117M$86.0M
Jobs supported, as reported17,85518,368

Questions and answers

Which lenders made the most SBA loans in North Carolina in FY2024?

The Huntington National Bank (115), Readycap Lending, LLC (113), Wells Fargo Bank National Association (97), Live Oak Banking Company (96), Newtek Bank, National Association (93). 124 lenders had at least one approval.

How many SBA loans were approved in North Carolina in FY2024?

1,679: 1,603 under 7(a) worth $970M and 76 under 504 worth $117M.

Which North Carolina counties had the most SBA approvals in FY2024?

Wake County (279), Mecklenburg County (275), Guilford County (89), Durham County (71), New Hanover County (69).

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