The numbers behind business borrowing—application and approval rates, SBA loan volume, average loan sizes, and lender trends. Every figure is sourced from the Federal Reserve and the SBA.
Figures are drawn from the most recent published Federal Reserve and SBA data as of 2026. See Sources for links. Confirm primary sources for the latest figures.
The Federal Reserve Banks' annual Small Business Credit Survey is the most authoritative read on how small firms seek and get financing.
| Metric | Figure | Source |
|---|---|---|
| Firms that applied for financing (prior 12 months) | ~45% (highest since 2021) | Fed SBCS |
| Applicants approved for the full amount requested | ~46% (up from 43%) | Fed SBCS |
| Full-approval rate at small banks | ~57% (highest by lender type) | Fed SBCS |
| Applicants using online/fintech lenders (2025) | 29% (up from 17% in 2020) | Fed SBCS |
| Online-lender borrowers reporting higher-than-expected costs | 60% | Fed SBCS |
SBA-backed loans offer the lowest rates and longest terms. FY2025 was a near-record year for the program.
| Metric | Figure (FY2025) | Source |
|---|---|---|
| SBA 7(a) + 504 loans approved | 84,840 loans | U.S. SBA |
| Total approved dollar volume | ~$45.1 billion | U.S. SBA |
| SBA 7(a) guaranteed volume vs. prior year | ~$45B, up ~45% YoY | SBA lending reports |
| Average SBA 7(a) loan size | ~$477,571 | SBA lending reports |
| SBA 7(a) maximum loan amount | $5,000,000 | U.S. SBA program rules |
With ~45% of firms applying, competition for capital is rising. A clean, complete application stands out.
Small banks post the highest full-approval rates; online lenders are faster but pricier. Comparing both pays off.
60% of online-lender borrowers were surprised by costs—always confirm APR vs. factor rate before signing.
Record SBA volume means low-rate, long-term capital is widely available for businesses that qualify.
About 45% of small employer firms applied for financing in the prior 12 months—the highest share since 2021, per the Federal Reserve Small Business Credit Survey.
Roughly 46% of applicants received the full amount requested (up from 43%). Applicants to small banks were most likely to be fully approved, at about 57% (Fed SBCS).
Approximately $477,571 in FY2025. The SBA 7(a) and 504 programs together approved 84,840 loans totaling about $45.1 billion (U.S. SBA).
The share using online/fintech lenders rose from 17% (2020) to 29% (2025)—but 60% of those borrowers reported higher-than-expected costs (Fed SBCS).
Statistics reflect the most recent published figures available as of 2026 and are rounded for readability. Survey and fiscal-year reporting periods differ; always consult the primary sources above for exact, current data.
Approval rates are up and SBA capital is flowing. Submit one application and we'll match you with lenders across banks, SBA programs, and online options so you can compare real offers.