From October 2023 through September 2026, Ohio businesses received 8,152 SBA 7(a) loans totaling $3.07B, net of cancellations. That ranks 5th of 52 by number of loans and 7th by dollars. The median loan was $105K at a median starting rate of 10.25%. In FY2026 alone, lenders approved 1,983 Ohio loans for $1.07B before cancellations.
What stands out in Ohio
One lender dominates
The Huntington National Bank approved 4,303 of Ohio's 8,152 SBA 7(a) loans in FY2024 to FY2026, a 52.8% share. The top three lenders together made 61.8%. Nationally, the same bank holds 10.3% of all 7(a) loans. In practice, an Ohio business shopping for an SBA loan is likely to meet this bank first, so comparing at least one other lender's terms matters more here than in most states.
Transportation and trucking stands out
Transportation and trucking accounted for 9.9% of Ohio's 7(a) loans (811 loans), 2.2 times its 4.6% national share. The median transportation and trucking loan in Ohio was $70K at a median rate of 10.50%.
A steeper FY2026 drop than the country
Ohio approvals went from 3,339 in FY2025 to 1,983 in FY2026 (−40.6%), against −28.1% nationally. Dollar volume moved from $1.25B to $1.07B, so the fall was concentrated in smaller loans: the median Ohio loan was $198K in FY2026 against $86K in FY2024.
Light use of SBA 504
Ohio had 356 SBA 504 loans, 0.04 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 Ohio the most active was Alloy Development Co., Inc. (90 loans).
Smaller loans than average
The median 7(a) loan in Ohio was $105K, below the national median of $175K. 62.0% of Ohio loans were $150,000 or less (49.0% nationally) and 9.5% were $1 million or more (13.6% nationally). SBA Express, which is capped at $500,000, carried 43.3% of Ohio loans (35.8% nationally).
Top SBA 7(a) lenders in Ohio
| Lender | Loans | Share of state |
|---|---|---|
| 1. The Huntington National Bank | 4,303 | 52.8% |
| 2. U.S. Bank, National Association | 441 | 5.4% |
| 3. KeyBank National Association | 291 | 3.6% |
| 4. Newtek Bank, National Association | 157 | 1.9% |
| 5. Telhio Credit Union Inc | 156 | 1.9% |
| 6. Live Oak Banking Company | 148 | 1.8% |
| 7. First Commonwealth Bank | 146 | 1.8% |
| 8. Readycap Lending, LLC | 142 | 1.7% |
| 9. Northeast Bank | 124 | 1.5% |
| 10. JPMorgan Chase Bank, National Association | 119 | 1.5% |
Industries that borrow most in Ohio
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Construction | 1,360 | 16.7% | $100K | 10.50% |
| Restaurants and hotels | 1,004 | 12.3% | $158K | 10.00% |
| Transportation and trucking | 811 | 9.9% | $70K | 10.50% |
| Other services (repair, personal care) | 802 | 9.8% | $78K | 10.25% |
| Retail | 790 | 9.7% | $100K | 10.50% |
| Health care | 714 | 8.8% | $150K | 10.24% |
| Professional services | 612 | 7.5% | $137K | 10.50% |
| Manufacturing | 586 | 7.2% | $151K | 10.00% |
Ohio 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 | 3,843 | 3,339 | 1,983 |
| Dollars approved | $1.07B | $1.25B | $1.07B |
| Loans not cancelled | 3,565 | 2,835 | 1,752 |
| Median loan | $86K | $120K | $198K |
| Median rate | 10.50% | 9.85% | 9.25% |
| Loans of $150K or less | 69.7% | 61.4% | 47.4% |
| SBA Express share | 49.3% | 38.9% | 38.1% |
FY2026 approvals in Ohio changed by −40.6% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
What a typical Ohio SBA loan looks like
| FY2024-FY2026, not cancelled | Ohio | United States |
|---|---|---|
| Median loan | $105K | $175K |
| Average loan | $376K | $508K |
| Median starting rate | 10.25% | 10.25% |
| Variable-rate loans | 88.8% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 62.0% | 49.0% |
| Loans of $500K or less | 84.4% | 76.9% |
| Loans of $1M or more | 9.5% | 13.6% |
| Startups (loan opens the business) | 19.2% | 16.1% |
| Startups and businesses 2 years old or less | 32.2% | 32.0% |
| Change of ownership (buying a business) | 9.7% | 10.9% |
| Franchise businesses | 9.5% | 11.0% |
| SBA Express loans | 43.3% | 35.8% |
| Jobs supported (reported at approval) | 69,487 | 1,733,816 |
Most frequent franchise brands among Ohio 7(a) loans: The UPS Store (18), Pulp Juice and Smoothie Bar (14), Crumbl (11), Best Western (10).
Where in Ohio the loans go
| County | Loans |
|---|---|
| Franklin | 1,184 |
| Cuyahoga | 954 |
| Hamilton | 577 |
| Summit | 473 |
| Stark | 303 |
| Montgomery | 296 |
| Lucas | 291 |
| Delaware | 275 |
| City | Loans |
|---|---|
| Columbus | 751 |
| Cincinnati | 526 |
| Cleveland | 387 |
| Dayton | 222 |
| Akron | 177 |
| Toledo | 169 |
| Youngstown | 109 |
| Medina | 106 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
SBA 504 loans in Ohio
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.
| Ohio | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 356 | 18,076 |
| 504 dollars | $379M | $20.82B |
| Median 504 loan | $687K | $742K |
| Jobs supported (reported at approval) | 3,508 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Alloy Development Co., Inc. | 90 |
| Community Capital Development Corporation | 64 |
| Growth Capital Corp. | 52 |
| Ohio Statewide Development Corporation | 41 |
| Cascade Capital Corporation | 30 |
How older loans performed
Of the 5,060 SBA 7(a) loans approved for Ohio businesses in FY2020 and FY2021 (not cancelled), 186 had been charged off by September 30, 2026: 3.7% 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.
SBA district office for Ohio
Ohio loans are overseen by the SBA Columbus 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 Ohio
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 Ohio.
Frequently asked questions
How many SBA loans were made in Ohio?
Lenders approved 3,843 SBA 7(a) loans for Ohio businesses in FY2024, 3,339 in FY2025 and 1,983 in FY2026, before cancellations. Net of cancelled loans, the three years total 8,152 loans worth $3.07B, plus 356 SBA 504 loans worth $379M.
Which banks make the most SBA loans in Ohio?
In FY2024 to FY2026 the most active 7(a) lenders in Ohio were The Huntington National Bank (4,303 loans, 52.8%), U.S. Bank, National Association (441 loans, 5.4%), KeyBank National Association (291 loans, 3.6%).
What is the typical SBA loan size and rate in Ohio?
The median 7(a) loan in Ohio was $105K and the average was $376K. The median starting interest rate was 10.25%, 88.8% 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 Ohio 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: Florida, New York, New Jersey, Pennsylvania, or see all states.