Lenders approved 2,044 SBA 7(a) loans worth $1.28B for South Carolina businesses in fiscal years 2024 through 2026, net of cancellations. That ranks 26th of 52 by number of loans and 24th by dollars. The median loan was $250K at a median starting rate of 10.25%. In FY2026 alone, lenders approved 678 South Carolina loans for $459M before cancellations.
What stands out in South Carolina
A franchise-heavy market
Franchise businesses took 20.4% of South Carolina's 7(a) loans, against 11.0% nationally.
More startup lending
Loans to open a new business made up 21.5% of South Carolina's 7(a) loans, against 16.1% nationally; counting businesses two years old or younger, the share is 39.8%.
Light use of SBA 504
South Carolina had 117 SBA 504 loans, 0.06 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 South Carolina the most active was Appalachian Development Corporation (38 loans).
Bigger loans than average
The median 7(a) loan in South Carolina was $250K, above the national median of $175K. 40.5% of South Carolina loans were $150,000 or less (49.0% nationally) and 16.3% were $1 million or more (13.6% nationally). Business purchases (13.3% of South Carolina loans) and franchises (20.4%) are two of the usual drivers of bigger tickets.
What a typical South Carolina SBA loan looks like
| FY2024-FY2026, not cancelled | South Carolina | United States |
|---|---|---|
| Median loan | $250K | $175K |
| Average loan | $624K | $508K |
| Median starting rate | 10.25% | 10.25% |
| Variable-rate loans | 91.7% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 40.5% | 49.0% |
| Loans of $500K or less | 70.9% | 76.9% |
| Loans of $1M or more | 16.3% | 13.6% |
| Startups (loan opens the business) | 21.5% | 16.1% |
| Startups and businesses 2 years old or less | 39.8% | 32.0% |
| Change of ownership (buying a business) | 13.3% | 10.9% |
| Franchise businesses | 20.4% | 11.0% |
| SBA Express loans | 28.4% | 35.8% |
| Jobs supported (reported at approval) | 20,610 | 1,733,816 |
South 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 | 803 | 927 | 678 |
| Dollars approved | $437M | $506M | $459M |
| Loans not cancelled | 716 | 765 | 563 |
| Median loan | $217K | $260K | $314K |
| Median rate | 11.25% | 10.25% | 9.50% |
| Loans of $150K or less | 46.1% | 40.4% | 33.6% |
| SBA Express share | 32.7% | 26.1% | 25.9% |
FY2026 approvals in South Carolina changed by −26.9% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
Top SBA 7(a) lenders in South Carolina
| Lender | Loans | Share of state |
|---|---|---|
| 1. TD Bank, National Association | 312 | 15.3% |
| 2. The Huntington National Bank | 181 | 8.9% |
| 3. Newtek Bank, National Association | 104 | 5.1% |
| 4. Live Oak Banking Company | 102 | 5.0% |
| 5. Wells Fargo Bank National Association | 90 | 4.4% |
| 6. Readycap Lending, LLC | 87 | 4.3% |
| 7. Northeast Bank | 68 | 3.3% |
| 8. SouthState Bank, National Association | 64 | 3.1% |
| 9. First-Citizens Bank & Trust Company | 64 | 3.1% |
| 10. Countybank | 62 | 3.0% |
Industries that borrow most in South Carolina
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Restaurants and hotels | 321 | 15.7% | $518K | 9.75% |
| Construction | 270 | 13.2% | $180K | 10.50% |
| Retail | 223 | 10.9% | $280K | 10.25% |
| Other services (repair, personal care) | 208 | 10.2% | $281K | 10.25% |
| Professional services | 191 | 9.3% | $195K | 10.50% |
| Health care | 171 | 8.4% | $300K | 10.25% |
| Administrative and support services | 152 | 7.4% | $150K | 10.50% |
| Transportation and trucking | 96 | 4.7% | $142K | 11.25% |
Where in South Carolina the loans go
| County | Loans |
|---|---|
| Greenville | 312 |
| Charleston | 285 |
| Horry | 160 |
| Richland | 152 |
| York | 149 |
| Beaufort | 144 |
| Spartanburg | 123 |
| Lexington | 110 |
| City | Loans |
|---|---|
| Greenville | 170 |
| Charleston | 144 |
| Columbia | 131 |
| Myrtle Beach | 97 |
| Fort Mill | 88 |
| Summerville | 80 |
| North Charleston | 68 |
| Mount Pleasant | 63 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
SBA 504 loans in South 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.
| South Carolina | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 117 | 18,076 |
| 504 dollars | $171M | $20.82B |
| Median 504 loan | $1.1M | $742K |
| Jobs supported (reported at approval) | 1,554 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Appalachian Development Corporation | 38 |
| Provident Business Financial Services, Inc. | 33 |
| Certified Development Corporation Of South Carolina | 19 |
How older loans performed
Of the 853 SBA 7(a) loans approved for South Carolina businesses in FY2020 and FY2021 (not cancelled), 33 had been charged off by September 30, 2026: 3.9% by count and 0.4% 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 South Carolina
South Carolina loans are overseen by the SBA South 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 South 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.
Frequently asked questions
How many SBA loans were made in South Carolina?
Lenders approved 803 SBA 7(a) loans for South Carolina businesses in FY2024, 927 in FY2025 and 678 in FY2026, before cancellations. Net of cancelled loans, the three years total 2,044 loans worth $1.28B, plus 117 SBA 504 loans worth $171M.
Which banks make the most SBA loans in South Carolina?
In FY2024 to FY2026 the most active 7(a) lenders in South Carolina were TD Bank, National Association (312 loans, 15.3%), The Huntington National Bank (181 loans, 8.9%), Newtek Bank, National Association (104 loans, 5.1%).
What is the typical SBA loan size and rate in South Carolina?
The median 7(a) loan in South Carolina was $250K and the average was $624K. The median starting interest rate was 10.25%, 91.7% 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 South 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: Connecticut, Tennessee, Idaho, Nevada, or see all states.