New York businesses took out 11,531 SBA 7(a) loans worth $4.03B in fiscal years 2024 to 2026, counting only loans that were not cancelled. That ranks 4th of 52 by number of loans and 4th by dollars. The median loan was $150K at a median starting rate of 10.55%. In FY2026 alone, lenders approved 3,613 New York loans for $1.49B before cancellations.
What stands out in New York
Higher charge-offs on older loans
Of the 3,848 New York 7(a) loans approved in FY2020 and FY2021, 6.6% had been charged off by September 2026, against 3.7% nationally. Measured in dollars, 1.1% of the amount approved was charged off (1.0% nationally).
Few franchise loans
Franchise businesses took 4.2% of New York's 7(a) loans, against 11.0% nationally.
Fewer business purchases
5.2% of New York 7(a) loans financed a change of ownership, that is, buying an existing business, against 10.9% nationally. Most New York loans fund existing owners rather than buyers.
SBA Express is the main channel
52.5% of New York'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 New York loan was $150K (national median $175K).
Little startup lending
Loans to open a new business made up 9.4% of New York's 7(a) loans, against 16.1% nationally; counting businesses two years old or younger, the share is 24.9%.
Wholesale trade stands out
Wholesale trade accounted for 6.3% of New York's 7(a) loans (731 loans), 1.6 times its 4.0% national share. The median wholesale trade loan in New York was $150K at a median rate of 10.75%.
How older loans performed
Of the 3,848 SBA 7(a) loans approved for New York businesses in FY2020 and FY2021 (not cancelled), 254 had been charged off by September 30, 2026: 6.6% by count and 1.1% 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.
What a typical New York SBA loan looks like
| FY2024-FY2026, not cancelled | New York | United States |
|---|---|---|
| Median loan | $150K | $175K |
| Average loan | $349K | $508K |
| Median starting rate | 10.55% | 10.25% |
| Variable-rate loans | 89.9% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 58.9% | 49.0% |
| Loans of $500K or less | 87.3% | 76.9% |
| Loans of $1M or more | 7.8% | 13.6% |
| Startups (loan opens the business) | 9.4% | 16.1% |
| Startups and businesses 2 years old or less | 24.9% | 32.0% |
| Change of ownership (buying a business) | 5.2% | 10.9% |
| Franchise businesses | 4.2% | 11.0% |
| SBA Express loans | 52.5% | 35.8% |
| Jobs supported (reported at approval) | 89,216 | 1,733,816 |
Most frequent franchise brands among New York 7(a) loans: Tropical Smoothie Cafe (11).
New York 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 | 4,817 | 5,299 | 3,613 |
| Dollars approved | $1.45B | $1.83B | $1.49B |
| Loans not cancelled | 4,219 | 4,247 | 3,065 |
| Median loan | $120K | $150K | $150K |
| Median rate | 11.50% | 10.50% | 9.75% |
| Loans of $150K or less | 63.3% | 57.4% | 54.8% |
| SBA Express share | 54.3% | 49.3% | 54.4% |
FY2026 approvals in New York changed by −31.8% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
Top SBA 7(a) lenders in New York
| Lender | Loans | Share of state |
|---|---|---|
| 1. TD Bank, National Association | 1,937 | 16.8% |
| 2. Manufacturers and Traders Trust Company | 1,851 | 16.1% |
| 3. JPMorgan Chase Bank, National Association | 829 | 7.2% |
| 4. Readycap Lending, LLC | 650 | 5.6% |
| 5. Newtek Bank, National Association | 535 | 4.6% |
| 6. BayFirst National Bank | 444 | 3.9% |
| 7. Northeast Bank | 388 | 3.4% |
| 8. Lendistry SBLC, LLC | 354 | 3.1% |
| 9. KeyBank National Association | 341 | 3.0% |
| 10. The Huntington National Bank | 263 | 2.3% |
Industries that borrow most in New York
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Retail | 1,611 | 14.0% | $150K | 10.65% |
| Construction | 1,606 | 13.9% | $128K | 10.75% |
| Professional services | 1,453 | 12.6% | $150K | 11.00% |
| Restaurants and hotels | 1,274 | 11.0% | $150K | 10.49% |
| Other services (repair, personal care) | 1,060 | 9.2% | $100K | 10.50% |
| Health care | 825 | 7.2% | $150K | 10.50% |
| Wholesale trade | 731 | 6.3% | $150K | 10.75% |
| Administrative and support services | 636 | 5.5% | $104K | 10.75% |
Where in New York the loans go
| County | Loans |
|---|---|
| Kings | 1,591 |
| Suffolk | 1,216 |
| New York | 1,197 |
| Nassau | 931 |
| Queens | 908 |
| Rockland | 653 |
| Westchester | 622 |
| Erie | 573 |
| City | Loans |
|---|---|
| Brooklyn | 1,591 |
| New York | 1,178 |
| Rochester | 363 |
| Bronx | 272 |
| Staten Island | 244 |
| Buffalo | 242 |
| Spring Valley | 221 |
| Monroe | 216 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
SBA 504 loans in New York
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.
| New York | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 572 | 18,076 |
| 504 dollars | $713M | $20.82B |
| Median 504 loan | $790K | $742K |
| Jobs supported (reported at approval) | 4,866 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Empire State Certified Development Corporation | 432 |
| Trenton Business Assistance Corporation | 92 |
| Monroe County Industrial Development Corporation | 24 |
| Business Initiative Corporation Of New York | 13 |
SBA district office for New York
New York loans are split between the New York District Office (73% of loans) and the Buffalo District Office (15% of loans) and the Syracuse District Office (12% of loans). 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 New York
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 New York?
Lenders approved 4,817 SBA 7(a) loans for New York businesses in FY2024, 5,299 in FY2025 and 3,613 in FY2026, before cancellations. Net of cancelled loans, the three years total 11,531 loans worth $4.03B, plus 572 SBA 504 loans worth $713M.
Which banks make the most SBA loans in New York?
In FY2024 to FY2026 the most active 7(a) lenders in New York were TD Bank, National Association (1,937 loans, 16.8%), Manufacturers and Traders Trust Company (1,851 loans, 16.1%), JPMorgan Chase Bank, National Association (829 loans, 7.2%).
What is the typical SBA loan size and rate in New York?
The median 7(a) loan in New York was $150K and the average was $349K. The median starting interest rate was 10.55%, 89.9% 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 New York 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: Texas, Florida, Ohio, New Jersey, or see all states.