Largest FY2025 approvals
California businesses received the largest combined value of SBA 7(a) and 504 approvals in FY2025, followed by Texas and Florida. These figures cover SBA-approved loans. The broader small-business credit market includes additional lenders and loan programs.
| Rank | State | FY2025 approvals | SBA loans |
|---|---|---|---|
| 1 | California | $6.6B | 11,044 |
| 2 | Texas | $4.6B | 6,637 |
| 3 | Florida | $4.0B | 7,015 |
| 4 | New York | $2.1B | 5,518 |
| 5 | Georgia | $1.8B | 2,563 |
| 6 | Illinois | $1.6B | 3,138 |
| 7 | Ohio | $1.4B | 3,466 |
| 8 | Colorado | $1.4B | 2,408 |
| 9 | Pennsylvania | $1.4B | 2,831 |
| 10 | New Jersey | $1.3B | 2,913 |
All states
| Rank | State | FY2025 approvals | SBA loans |
|---|---|---|---|
| 1 | California | $6.6B | 11,044 |
| 2 | Texas | $4.6B | 6,637 |
| 3 | Florida | $4.0B | 7,015 |
| 4 | New York | $2.1B | 5,518 |
| 5 | Georgia | $1.8B | 2,563 |
| 6 | Illinois | $1.6B | 3,138 |
| 7 | Ohio | $1.4B | 3,466 |
| 8 | Colorado | $1.4B | 2,408 |
| 9 | Pennsylvania | $1.4B | 2,831 |
| 10 | New Jersey | $1.3B | 2,913 |
| 11 | Washington | $1.3B | 2,333 |
| 12 | North Carolina | $1.3B | 1,990 |
| 13 | Arizona | $1.1B | 1,871 |
| 14 | Michigan | $1.1B | 2,625 |
| 15 | Minnesota | $936.6M | 1,822 |
| 16 | Utah | $921.2M | 1,595 |
| 17 | Virginia | $870.9M | 1,623 |
| 18 | Missouri | $814.5M | 1,285 |
| 19 | Massachusetts | $783.1M | 2,283 |
| 20 | Wisconsin | $756.5M | 1,328 |
| 21 | Indiana | $695.6M | 1,368 |
| 22 | Oregon | $611.0M | 1,303 |
| 23 | Tennessee | $593.5M | 1,046 |
| 24 | South Carolina | $580.2M | 970 |
| 25 | Maryland | $572.0M | 1,516 |
| 26 | Nevada | $523.1M | 982 |
| 27 | Connecticut | $479.6M | 1,091 |
| 28 | Alabama | $423.6M | 685 |
| 29 | Louisiana | $376.6M | 642 |
| 30 | Idaho | $363.0M | 902 |
| 31 | Oklahoma | $343.6M | 545 |
| 32 | Kentucky | $310.1M | 615 |
| 33 | Kansas | $268.3M | 520 |
| 34 | Arkansas | $263.0M | 421 |
| 35 | New Hampshire | $258.9M | 683 |
| 36 | Iowa | $224.9M | 490 |
| 37 | New Mexico | $220.7M | 345 |
| 38 | Mississippi | $206.7M | 355 |
| 39 | Nebraska | $194.0M | 360 |
| 40 | Montana | $178.5M | 317 |
| 41 | South Dakota | $161.6M | 270 |
| 42 | Maine | $147.4M | 465 |
| 43 | North Dakota | $146.4M | 188 |
| 44 | Rhode Island | $138.8M | 376 |
| 45 | Delaware | $96.9M | 282 |
| 46 | Alaska | $87.1M | 129 |
| 47 | Vermont | $82.5M | 228 |
| 48 | Wyoming | $81.7M | 168 |
| 49 | Hawaii | $81.0M | 254 |
| 50 | West Virginia | $73.9M | 214 |
Source note
Source: SBA 7(a) and 504 FOIA package, FY2025 approved loan amounts and loan counts. SBA fiscal year 2025 ran from Oct. 1, 2024 through Sept. 30, 2025.