Delaware businesses took out 623 SBA 7(a) loans worth $242M in fiscal years 2024 to 2026, counting only loans that were not cancelled. That ranks 43rd of 52 by number of loans and 43rd by dollars. The median loan was $100K at a median starting rate of 10.55%. In FY2026 alone, lenders approved 220 Delaware loans for $91.1M before cancellations.
What stands out in Delaware
One lender dominates
Manufacturers and Traders Trust Company approved 237 of Delaware's 623 SBA 7(a) loans in FY2024 to FY2026, a 38.0% share. The top three lenders together made 53.0%. For comparison, the largest 7(a) lender nationally, The Huntington National Bank, holds 10.3% of all loans. When one bank makes this many of a state's loans, its pricing and credit appetite set the tone, so a second quote is worth getting.
Light use of SBA 504
Delaware had 15 SBA 504 loans, 0.02 for every 7(a) loan, against 0.10 nationally. The 504 program finances owner-occupied real estate and long-life equipment through a certified development company; in Delaware the most active was Delaware Community Development Corporation (10 loans).
Lending clusters in one county
New Castle County alone accounted for 58.6% of Delaware's 7(a) loans (365 loans), and Wilmington was the most frequent borrower city with 173. The next county, Sussex, had 24.6%.
Smaller loans than average
The median 7(a) loan in Delaware was $100K, below the national median of $175K. 60.0% of Delaware loans were $150,000 or less (49.0% nationally) and 9.8% were $1 million or more (13.6% nationally).
SBA Express is the main channel
50.1% of Delaware's 7(a) loans were made through SBA Express, against 35.8% nationally. Express loans are capped at $500,000 and the lender makes the credit decision itself, so they move faster but are smaller. The median Delaware loan was $100K (national median $175K).
Higher charge-offs on older loans
Of the 226 Delaware 7(a) loans approved in FY2020 and FY2021, 5.3% had been charged off by September 2026, against 3.7% nationally. Measured in dollars, 2.2% of the amount approved was charged off (1.0% nationally).
Top SBA 7(a) lenders in Delaware
| Lender | Loans | Share of state |
|---|---|---|
| 1. Manufacturers and Traders Trust Company | 237 | 38.0% |
| 2. TD Bank, National Association | 57 | 9.1% |
| 3. Wilmington Savings Fund Society FSB | 37 | 5.9% |
| 4. The Huntington National Bank | 29 | 4.7% |
| 5. Northeast Bank | 25 | 4.0% |
| 6. Newtek Bank, National Association | 20 | 3.2% |
| 7. PNC Bank, National Association | 17 | 2.7% |
| 8. Fulton Bank, National Association | 15 | 2.4% |
| 9. Readycap Lending, LLC | 15 | 2.4% |
| 10. BayFirst National Bank | 14 | 2.2% |
SBA 504 loans in Delaware
The SBA 504 program finances owner-occupied real estate and long-life equipment. A certified development company (CDC) lends up to 40% of the project with an SBA-backed debenture, a bank typically lends about 50%, and the business puts in the rest. The amounts below are the CDC portion.
| Delaware | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 15 | 18,076 |
| 504 dollars | $15.2M | $20.82B |
| Median 504 loan | $894K | $742K |
| Jobs supported (reported at approval) | 196 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Delaware Community Development Corporation | 10 |
Delaware SBA 7(a) loans by fiscal year
SBA fiscal years run October to September, so FY2026 covers October 2025 through September 2026. "Approved" counts every loan SBA guaranteed, the basis of SBA's own published totals; "not cancelled" drops loans that were later cancelled before or after funding. FY2026 loans are recent, so some of them may still be cancelled.
| FY2024 | FY2025 | FY2026 | |
|---|---|---|---|
| Loans approved | 244 | 275 | 220 |
| Dollars approved | $84.6M | $92.1M | $91.1M |
| Loans not cancelled | 213 | 223 | 187 |
| Median loan | $100K | $100K | $150K |
| Median rate | 11.25% | 10.50% | 9.50% |
| Loans of $150K or less | 62.4% | 61.4% | 55.6% |
| SBA Express share | 41.3% | 50.7% | 59.4% |
FY2026 approvals in Delaware changed by −20.0% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
What a typical Delaware SBA loan looks like
| FY2024-FY2026, not cancelled | Delaware | United States |
|---|---|---|
| Median loan | $100K | $175K |
| Average loan | $389K | $508K |
| Median starting rate | 10.55% | 10.25% |
| Variable-rate loans | 92.3% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 60.0% | 49.0% |
| Loans of $500K or less | 82.7% | 76.9% |
| Loans of $1M or more | 9.8% | 13.6% |
| Startups (loan opens the business) | 17.3% | 16.1% |
| Startups and businesses 2 years old or less | 38.8% | 32.0% |
| Change of ownership (buying a business) | 8.7% | 10.9% |
| Franchise businesses | 8.7% | 11.0% |
| SBA Express loans | 50.1% | 35.8% |
| Jobs supported (reported at approval) | 4,658 | 1,733,816 |
Industries that borrow most in Delaware
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Construction | 88 | 14.1% | $88K | 11.25% |
| Retail | 83 | 13.3% | $125K | 10.75% |
| Other services (repair, personal care) | 75 | 12.0% | $80K | 10.25% |
| Professional services | 72 | 11.6% | $150K | 11.25% |
| Restaurants and hotels | 70 | 11.2% | $245K | 10.12% |
| Health care | 45 | 7.2% | $120K | 10.75% |
| Administrative and support services | 40 | 6.4% | $83K | 11.25% |
| Arts, entertainment and fitness | 28 | 4.5% | – | – |
Where in Delaware the loans go
| County | Loans |
|---|---|
| New Castle | 365 |
| Sussex | 153 |
| Kent | 105 |
| City | Loans |
|---|---|
| Wilmington | 173 |
| Newark | 72 |
| Dover | 66 |
| Middletown | 39 |
| New Castle | 29 |
| Lewes | 28 |
| Rehoboth Beach | 18 |
| Bear | 17 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
How older loans performed
Of the 226 SBA 7(a) loans approved for Delaware businesses in FY2020 and FY2021 (not cancelled), 12 had been charged off by September 30, 2026: 5.3% by count and 2.2% of dollars approved. The national figures are 3.7% and 1.0%. Loans from these years have had five to seven years to season, so they say more about losses than recent loans do.
SBA district office for Delaware
Delaware loans are overseen by the SBA Delaware District Office. District offices do not make loans; they support lenders and borrowers and point businesses to local resource partners. Contact details are on SBA's local assistance page.
Comparing SBA and other funding in Delaware
An SBA loan is often the cheapest long-term money a small business can get, but approval takes weeks and the 2025 and 2026 rule changes narrowed who qualifies. FSE (Funding Solutions Experts) is an independent commercial finance brokerage. We are not an SBA lender and are not affiliated with the U.S. Small Business Administration; one application lets us compare SBA and non-SBA options from our funding partners side by side.
- No fee to your business: we are paid a commission by the funding partner.
- No credit check to apply.
- To be considered, a business generally needs at least 1 year in business and $10,000 or more in monthly revenue.
Read what an SBA loan is and how the programs work or our SBA and term loans guide.
Frequently asked questions
How many SBA loans were made in Delaware?
Lenders approved 244 SBA 7(a) loans for Delaware businesses in FY2024, 275 in FY2025 and 220 in FY2026, before cancellations. Net of cancelled loans, the three years total 623 loans worth $242M, plus 15 SBA 504 loans worth $15.2M.
Which banks make the most SBA loans in Delaware?
In FY2024 to FY2026 the most active 7(a) lenders in Delaware were Manufacturers and Traders Trust Company (237 loans, 38.0%), TD Bank, National Association (57 loans, 9.1%), Wilmington Savings Fund Society FSB (37 loans, 5.9%).
What is the typical SBA loan size and rate in Delaware?
The median 7(a) loan in Delaware was $100K and the average was $389K. The median starting interest rate was 10.55%, 92.3% of loans had a variable rate, and the median term was 120 months.
Source and method
Figures come from the U.S. Small Business Administration's 7(a) and 504 FOIA loan files (as of September 30, 2026), aggregated by FSE. Loans are assigned to Delaware by project state. Profile figures cover FY2024-FY2026 loans that were not cancelled. We publish aggregates only: no borrower names or addresses, and no figure based on fewer than 10 loans. Full details are in the methodology, and every state's figures can be downloaded as CSV.
Compare nearby states by volume: New Mexico, Rhode Island, Montana, West Virginia, or see all states.