From October 2023 through September 2026, North Carolina businesses received 4,208 SBA 7(a) loans totaling $2.87B, net of cancellations. That ranks 14th of 52 by number of loans and 8th by dollars. The median loan was $300K at a median starting rate of 10.25%. In FY2026 alone, lenders approved 1,444 North Carolina loans for $1.06B before cancellations.
What stands out in North Carolina
A franchise-heavy market
Franchise businesses took 19.5% of North Carolina's 7(a) loans, against 11.0% nationally. The most frequent brands were The UPS Store (32), Quality Inn (12), Hotworx (11).
Bigger loans than average
The median 7(a) loan in North Carolina was $300K, above the national median of $175K. 36.1% of North Carolina loans were $150,000 or less (49.0% nationally) and 19.4% were $1 million or more (13.6% nationally). Business purchases (15.0% of North Carolina loans) and franchises (19.5%) are two of the usual drivers of bigger tickets.
More startup lending
Loans to open a new business made up 22.3% of North Carolina's 7(a) loans, against 16.1% nationally; counting businesses two years old or younger, the share is 38.1%.
Few SBA Express loans
22.2% of North Carolina'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. More North Carolina loans go through standard 7(a) processing, which takes longer but allows amounts up to $5 million.
Lots of business purchases
15.0% of North Carolina 7(a) loans financed a change of ownership, that is, buying an existing business, against 10.9% nationally. If you are planning an acquisition, North Carolina lenders see this kind of deal often.
Light use of SBA 504
North Carolina had 224 SBA 504 loans, 0.05 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 North Carolina the most active was Business Expansion Funding Corporation (145 loans).
What a typical North Carolina SBA loan looks like
| FY2024-FY2026, not cancelled | North Carolina | United States |
|---|---|---|
| Median loan | $300K | $175K |
| Average loan | $683K | $508K |
| Median starting rate | 10.25% | 10.25% |
| Variable-rate loans | 88.9% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 36.1% | 49.0% |
| Loans of $500K or less | 67.6% | 76.9% |
| Loans of $1M or more | 19.4% | 13.6% |
| Startups (loan opens the business) | 22.3% | 16.1% |
| Startups and businesses 2 years old or less | 38.1% | 32.0% |
| Change of ownership (buying a business) | 15.0% | 10.9% |
| Franchise businesses | 19.5% | 11.0% |
| SBA Express loans | 22.2% | 35.8% |
| Jobs supported (reported at approval) | 46,840 | 1,733,816 |
Most frequent franchise brands among North Carolina 7(a) loans: The UPS Store (32), Quality Inn (12), Hotworx (11).
North Carolina 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 | 1,603 | 1,906 | 1,444 |
| Dollars approved | $970M | $1.20B | $1.06B |
| Loans not cancelled | 1,419 | 1,558 | 1,231 |
| Median loan | $250K | $306K | $350K |
| Median rate | 11.25% | 10.25% | 9.50% |
| Loans of $150K or less | 41.7% | 34.9% | 31.3% |
| SBA Express share | 24.7% | 20.3% | 21.8% |
FY2026 approvals in North Carolina changed by −24.2% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
Top SBA 7(a) lenders in North Carolina
| Lender | Loans | Share of state |
|---|---|---|
| 1. The Huntington National Bank | 338 | 8.0% |
| 2. Live Oak Banking Company | 334 | 7.9% |
| 3. Newtek Bank, National Association | 229 | 5.4% |
| 4. Readycap Lending, LLC | 210 | 5.0% |
| 5. Northeast Bank | 203 | 4.8% |
| 6. Wells Fargo Bank National Association | 180 | 4.3% |
| 7. TD Bank, National Association | 126 | 3.0% |
| 8. Pinnacle Bank | 125 | 3.0% |
| 9. United Midwest Savings Bank National Association | 118 | 2.8% |
| 10. BayFirst National Bank | 101 | 2.4% |
Industries that borrow most in North Carolina
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Restaurants and hotels | 647 | 15.4% | $500K | 9.75% |
| Construction | 545 | 13.0% | $250K | 10.25% |
| Other services (repair, personal care) | 435 | 10.3% | $310K | 10.25% |
| Retail | 433 | 10.3% | $280K | 10.25% |
| Health care | 412 | 9.8% | $350K | 9.75% |
| Professional services | 404 | 9.6% | $200K | 10.50% |
| Administrative and support services | 287 | 6.8% | $200K | 10.49% |
| Manufacturing | 258 | 6.1% | $312K | 10.25% |
Where in North Carolina the loans go
| County | Loans |
|---|---|
| Mecklenburg | 751 |
| Wake | 709 |
| Guilford | 200 |
| New Hanover | 170 |
| Union | 150 |
| Durham | 144 |
| Buncombe | 138 |
| Forsyth | 135 |
| City | Loans |
|---|---|
| Charlotte | 599 |
| Raleigh | 321 |
| Wilmington | 154 |
| Durham | 139 |
| Greensboro | 122 |
| Cary | 102 |
| Asheville | 89 |
| Winston Salem | 83 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
SBA 504 loans in North Carolina
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.
| North Carolina | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 224 | 18,076 |
| 504 dollars | $338M | $20.82B |
| Median 504 loan | $1.1M | $742K |
| Jobs supported (reported at approval) | 3,008 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Business Expansion Funding Corporation | 145 |
| Carolina Business Capital, Inc. | 42 |
| 504 Capital Corporation | 24 |
How older loans performed
Of the 1,808 SBA 7(a) loans approved for North Carolina businesses in FY2020 and FY2021 (not cancelled), 44 had been charged off by September 30, 2026: 2.4% by count and 0.3% 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 North Carolina
North Carolina loans are overseen by the SBA North Carolina 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 North Carolina
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, and see our guide to business funding in North Carolina.
Frequently asked questions
How many SBA loans were made in North Carolina?
Lenders approved 1,603 SBA 7(a) loans for North Carolina businesses in FY2024, 1,906 in FY2025 and 1,444 in FY2026, before cancellations. Net of cancelled loans, the three years total 4,208 loans worth $2.87B, plus 224 SBA 504 loans worth $338M.
Which banks make the most SBA loans in North Carolina?
In FY2024 to FY2026 the most active 7(a) lenders in North Carolina were The Huntington National Bank (338 loans, 8.0%), Live Oak Banking Company (334 loans, 7.9%), Newtek Bank, National Association (229 loans, 5.4%).
What is the typical SBA loan size and rate in North Carolina?
The median 7(a) loan in North Carolina was $300K and the average was $683K. The median starting interest rate was 10.25%, 88.9% 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 North Carolina 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: Colorado, Massachusetts, Minnesota, Arizona, or see all states.