SBA Ledger

States › Puerto Rico

State0.8% of US approvals16 lenders active

SBA loans in Puerto Rico

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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.

SBA approved 2,777 small business loans in Puerto Rico in FY2021 to FY2025: 2,496 under the 7(a) program and 281 under 504, worth $570M together.

That is — approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 0.8% of all approvals in the country (31st of 54 states and territories).

In FY2025 there were 612 approvals totalling $119M, down 16% on FY2024. The median 7(a) approval over the five years was $81K and the median 504 approval $243K.

16 lenders had at least one approval in the state; by number of 7(a) approvals the most active were Banco Popular de Puerto Rico (1,546), Oriental Bank (657) and FirstBank Puerto Rico (209).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 6.1% as charged off, against 6.6% nationally.

612approvals, FY20252,777 in FY2021–FY2025
$119Mapproved, FY2025$570M in FY2021–FY2025
—approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$81Kmedian 7(a) approvalUS: $190K
6.1%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Puerto Rico

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in PR, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Banco Popular de Puerto RicoSan Juan, PR1,546$262M61.9%$60K4.2%
2Oriental BankSan Juan, PR657$112M26.3%$111K5.8%
3FirstBank Puerto RicoSanturce, PR209$45.2M8.4%$100K10.9%
4Economic Development Bank for Puerto RicoSan Juan, PR45$7.1M1.8%$94K10.7%
5Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC)San Juan, PR16$1.9M0.6%$120K—
6Cooperativa de Ahorro y Crédito de Arecibo (COOPACA)Arecibo, PR12$1.8M0.5%$158K—
7BayFirst National BankSaint Petersburg, FL4$3.5M0.2%$150K19.2%
8First Bank of the LakeOsage Beach, MO2—0.1%$350K2.7%
9Paragon BankMemphis, TN1—0.0%$865K5.8%
10T Bank, National AssociationDallas, TX1—0.0%$1.3M5.0%
11First Business BankMadison, WI1—0.0%$785K6.2%
12Celtic Bank CorporationSalt Lake City, UT1—0.0%$150K17.0%
13Bank Five NineOconomowoc, WI1—0.0%$450K4.5%

504 certified development companies

#LenderApprovals in PR, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC)San Juan, PR · 504 CDC123$49.6M43.8%$233K4.9%
2Marketing Small Business Finance CorporationSan Juan, PR · 504 CDC108$42.3M38.4%$204K4.6%
3PYMES Financial Partners, Inc.San Juan, PR · 504 CDC50$33.0M17.8%$406K6.6%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*415$64.8M$50K35$15.6M4504,887
FY2025548$89.8M$60K64$28.8M6125,654
FY2024655$109M$59K73$40.9M7287,684
FY2023461$82.4M$75K66$25.3M5276,096
FY2022421$74.8M$100K37$17.1M4585,991
FY2021411$89.3M$128K41$12.8M4525,672
FY2020328$53.3M$103K41$14.9M3694,317
FY2019376$52.8M$74K57$21.5M4334,314
FY2018285$49.6M$75K35$9.1M3203,053
FY2017360$43.0M$55K41$11.3M4013,896
FY2016620$72.2M$50K65$21.6M6856,172

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Puerto Rico by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1San Juan Municipio570$146M——
2Bayamon Municipio237$62.9M——
3Caguas Municipio161$52.4M——
4Carolina Municipio115$26.7M——
5Guaynabo Municipio112$22.8M——
6Ponce Municipio94$22.6M——
7Mayaguez Municipio77$11.7M——
8Arecibo Municipio62$9.1M——
9Toa Baja Municipio61$11.9M——
10Aguadilla Municipio59$6.1M——
11Manati Municipio54$7.3M——
12Trujillo Alto Municipio51$12.9M——
13Fajardo Municipio39$6.5M——
14Dorado Municipio37$5.9M——
15Humacao Municipio36$5.5M——
16Vega Baja Municipio36$4.7M——
17Cidra Municipio35$9.3M——
18Juana Diaz Municipio32$1.9M——
19Aguada Municipio31$4.0M——
20Isabela Municipio31$3.5M——
21Juncos Municipio30$5.1M——
22Vega Alta Municipio29$4.8M——
23Las Piedras Municipio29$3.5M——
24San Sebastian Municipio29$3.5M——
25San German Municipio28$2.1M——
26Hatillo Municipio27$5.1M——
27Cabo Rojo Municipio27$6.4M——
28Moca Municipio27$2.6M——
29Coamo Municipio26$2.1M——
30Cayey Municipio25$8.3M——
31Guayama Municipio24$5.2M——
32Yauco Municipio23$1.8M——
33Rio Grande Municipio23$2.1M——
34Santa Isabel Municipio21$3.3M——
35Toa Alta Municipio20$1.8M——
36Camuy Municipio20$2.4M——
37Naranjito Municipio19$3.7M——
38Gurabo Municipio17$3.7M——
39Rincon Municipio17$6.2M——
40Utuado Municipio16$2.1M——
41Canovanas Municipio15$1.8M——
42Anasco Municipio15$4.1M——
43Quebradillas Municipio15$955K——
44Sabana Grande Municipio15$2.9M——
45Aibonito Municipio15$1.7M——
46Salinas Municipio14$879K——
47Lajas Municipio14$2.8M——
48Villalba Municipio14$551K——
49Barceloneta Municipio13$1.7M——
50Ciales Municipio13$1.6M——
51Hormigueros Municipio12$1.5M——
52Orocovis Municipio12$3.1M——
53Corozal Municipio12$1.5M——
54Aguas Buenas Municipio12$1.3M——
55Patillas Municipio12$507K——
56Lares Municipio11$1.6M——
57Vieques Municipio11$4.3M——
58Penuelas Municipio11$1.2M——
59Catano Municipio11$6.3M——
60Barranquitas Municipio10$1.3M——
61Yabucoa Municipio10$4.3M——
62San Lorenzo Municipio10$958K——
63Guayanilla Municipio10$402K——
64Morovis Municipio9$1.7M——
65Luquillo Municipio9$1.7M——
66Comerio Municipio8$684K——
67Guanica Municipio8$634K——
68Maunabo Municipio7$880K——
69Ceiba Municipio6$1.3M——
70Adjuntas Municipio6$320K——
71Naguabo Municipio6$366K——
72Arroyo Municipio5$636K——
73Florida Municipio5$424K——
74Jayuya Municipio4$1.6M——
75Culebra Municipio4$2.6M——
76Loiza Municipio3$968K——
77Las Marias Municipio2———
78Maricao Municipio1———

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225257$53.0M9.3%
2Offices of PhysiciansNAICS 6211246$46.8M8.9%
3Offices of Other Health PractitionersNAICS 6213203$25.7M7.3%
4Personal Care ServicesNAICS 812180$8.2M2.9%
5Health and Personal Care RetailersNAICS 456172$9.6M2.6%
6Grocery StoresNAICS 445167$11.4M2.4%
7Medical and Diagnostic LaboratoriesNAICS 621564$14.0M2.3%
8Other Professional, Scientific, and Technical ServicesNAICS 541961$11.1M2.2%
9Nonresidential Building ConstructionNAICS 236258$10.6M2.1%
10Automotive Repair and MaintenanceNAICS 811156$7.0M2.0%
11Offices of DentistsNAICS 621254$8.0M1.9%
12Building Equipment ContractorsNAICS 238252$11.6M1.9%
13Architectural, Engineering, and Related ServicesNAICS 541351$21.0M1.8%
14Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 541251$4.4M1.8%
15Bakeries and Tortilla ManufacturingNAICS 311850$6.6M1.8%

Sectors

#NAICS sectorApprovalsShare
1Health Care and Social Assistance69224.9%
2Retail Trade42715.4%
3Accommodation and Food Services32311.6%
4Professional, Scientific, and Technical Services2629.4%
5Construction2248.1%
6Other Services (except Public Administration)2077.5%
7Manufacturing1896.8%
8Wholesale Trade1465.3%
9Administrative and Support and Waste Management and Remediation Services792.8%
10Real Estate and Rental and Leasing421.5%

Franchise brands

#BrandApprovalsShare
1Marco's Pizza90.3%
2Arby's60.2%
3The Taco Maker, Taco Maker Mexican Grill30.1%
4ImageFIRST Healthcare Laundry Specialists30.1%
5Crumbl30.1%
6Tijuana's Bar & Grill20.1%
7Wetzel's Pretzels20.1%
8Texas Roadhouse10.0%
9JRZ Group, Inc.10.0%
10Martin's Bbq10.0%

How earlier loans turned out

Puerto Rico, 7(a)6.1%
United States, 7(a)6.6%
Puerto Rico, 5045.3%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021PR 7(a)US 7(a)PR 504US 504
Approvals in these years5,401639,90578485,591
Cancelled or never disbursed91079,31316112,514
Disbursed loans4,491560,59262373,077
Paid in full3,524435,81314535,491
Charged off27536,89133905
Still outstanding (status exempt from disclosure)69287,88844536,681
Charged off, share of disbursed loans6.1%6.6%5.3%1.2%
Dollars charged off, share of disbursed dollars2.3%2.5%4.6%0.9%
Dollars charged off$11.8M$5.70bn$9.5M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025Puerto RicoUnited States
Approvals per 1,000 establishments—41.0
Median 7(a) approval$81K$190K
Median 504 approval$243K$657K
504 share of approvals10.1%11.0%
Jobs supported per approval, as reported11.210.5
Approvals, change on FY2016–FY202026%10%

Questions and answers

Which lenders make the most SBA loans in Puerto Rico?

By 7(a) approvals in FY2021 to FY2025: Banco Popular de Puerto Rico (1,546), Oriental Bank (657), FirstBank Puerto Rico (209), Economic Development Bank for Puerto Rico (45), Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC) (16). For 504 loans: Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC) (123), Marketing Small Business Finance Corporation (108), PYMES Financial Partners, Inc. (50). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Puerto Rico?

The median 7(a) approval was $81K and the median 504 approval $243K; the average across both programs was $205K.

Which industries get the most SBA loans in Puerto Rico?

Restaurants and Other Eating Places (257); Offices of Physicians (246); Offices of Other Health Practitioners (203); Personal Care Services (80); Health and Personal Care Retailers (72).

Which Puerto Rico counties receive the most SBA loans?

San Juan Municipio (570), Bayamon Municipio (237), Caguas Municipio (161), Carolina Municipio (115), Guaynabo Municipio (112), by approvals in FY2021 to FY2025.

Is SBA lending in Puerto Rico rising?

Approvals in the three latest complete fiscal years total 1,867, against 1,279 in the three before: rising (+46%).

What share of SBA loans in Puerto Rico are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 6.1% are recorded as charged off (national: 6.6%); for 504 loans the figure is 5.3% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error