Which Industries Get Approved for SBA Loans Most Often?

September 18, 2019

A major source of funding for businesses comes through Small Business Administration (SBA) loans, which can sometimes be complicated to apply for and receive. Taking a look at public SBA loan data*, full-service restaurants received the most number of SBA loans between 2010 and 2018. Seeing this, we thought it might be interesting to take this database of loan numbers and look into which other industries rank high up on the list of SBA loan recipients.

The following list includes the total number of loans, the amount of SBA loan dollars, and the average loan size for the top five industries receiving the most SBA loans.  

Full-service Restaurants received 25,738 SBA 7a Loans totaling $6,953,071,130 with an average of $270,148 per loan.

Dentist Offices received 10,058 SBA 7a Loans totaling $4,350,814,507 with an average of $413,592 per loan.

Trucking Companies received 7,839 SBA 7a Loans totaling $688,860,551 with an average of $87,876 per loan.

Hotels & Motels (not including Casinos) received 7,727 SBA 7a Loans totaling $10,823,455,079 with an average of $1,400,732 per loan.

Physician Offices received 7,603 SBA 7a Loans totaling $2,324,737,808 with an average of $305,766 per loan.

While full-service restaurants received a higher number of SBA loans, the hotel industry received more actual cash. This makes sense given the large investment needed to build and operate a hotel versus a physically smaller business.

Your Industry Didn’t Make The List? You’re Not Alone …
We can help you through the process of applying for and obtaining an SBA loan. TGB Loan Officers are trained in both SBA and traditional business loan processes. Learn More or send your questions to sbaloans@texasgulfbank.com.

If you find that your business is not qualified for an SBA loan, or you need funds quickly, bank loans offer manageable alternatives. Learn the differences between business loans and lines of credit HERE.

 

Want to know the options available for your business?
Print and complete our Commercial Business Loan Application,
then set up an appointment to meet with a commercial loan officer by visiting any
Texas Gulf Bank location or Contact Us via e-mail/phone.

 

*Information about SBA lending can be obtained through the Agency’s Office of Public Communications as required under the Freedom of Information Act (FOIA). Many of these items are also maintained in public and university libraries, chambers of commerce, consumer information centers, or by calling or writing any SBA office. The SBA’s homepage is http://www.sba.gov/. The database of 7a loan numbers referenced in this article can be viewed HERE, by scrolling towards the bottom of the page under Frequently Requested Records.

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