Flippa identified the county in each state where applicants were approved for the most Small Business Administration loan funds per capita in 2023.
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The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.
Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.
Flippa found the county within each state where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA's most common loan program, known as 7(a) loans. States are listed in alphabetical order.
SBA's 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.
Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don't qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.
All but two of the #1 ranked counties had populations of less than 500,000—most smaller than 100,000. That's not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.
Read on to see whether your county was among those receiving the most SBA loans.
- SBA loan funds approved: $5.6 million (About $375 per resident)
- Number of loans: 5
- SBA loan funds approved: $6.1 million (About $716 per resident)
- Number of loans: 4
- SBA loan funds approved: $3.1 million (About $185 per resident)
- Number of loans: 1
- SBA loan funds approved: $8.5 million (About $524 per resident)
- Number of loans: 3
- SBA loan funds approved: $29.0 million (About $186 per resident)
- Number of loans: 16
- SBA loan funds approved: $20.6 million (About $662 per resident)
- Number of loans: 23
- SBA loan funds approved: $95.6 million (About $106 per resident)
- Number of loans: 212
- SBA loan funds approved: $49.8 million (About $88 per resident)
- Number of loans: 121
- SBA loan funds approved: $5.6 million (About $317 per resident)
- Number of loans: 2
- SBA loan funds approved: $10.0 million (About $888 per resident)
- Number of loans: 3
- SBA loan funds approved: $4.1 million (About $56 per resident)
- Number of loans: 8
- SBA loan funds approved: $4.8 million (About $365 per resident)
- Number of loans: 4
- SBA loan funds approved: $8.2 million (About $291 per resident)
- Number of loans: 2
- SBA loan funds approved: $16.4 million (About $201 per resident)
- Number of loans: 10
- SBA loan funds approved: $2.5 million (About $207 per resident)
- Number of loans: 6
- SBA loan funds approved: $2.0 million (About $721 per resident)
- Number of loans: 1
- SBA loan funds approved: $5.1 million (About $456 per resident)
- Number of loans: 2
- SBA loan funds approved: $6.0 million (About $412 per resident)
- Number of loans: 5
- SBA loan funds approved: $5.3 million (About $132 per resident)
- Number of loans: 19
- SBA loan funds approved: $6.5 million (About $95 per resident)
- Number of loans: 9
- SBA loan funds approved: $3.3 million (About $240 per resident)
- Number of loans: 8
- SBA loan funds approved: $4.3 million (About $2,101 per resident)
- Number of loans: 5
- SBA loan funds approved: $5.1 million (About $559 per resident)
- Number of loans: 4
- SBA loan funds approved: $7.3 million (About $506 per resident)
- Number of loans: 14
- SBA loan funds approved: $17.4 million (About $406 per resident)
- Number of loans: 9
- SBA loan funds approved: $4.8 million (About $1,312 per resident)
- Number of loans: 1
- SBA loan funds approved: $2.2 million (About $521 per resident)
- Number of loans: 1
- SBA loan funds approved: $13.3 million (About $229 per resident)
- Number of loans: 15
- SBA loan funds approved: $35.3 million (About $113 per resident)
- Number of loans: 117
- SBA loan funds approved: $26.7 million (About $280 per resident)
- Number of loans: 27
- SBA loan funds approved: $4.2 million (About $280 per resident)
- Number of loans: 1
- SBA loan funds approved: $11.5 million (About $306 per resident)
- Number of loans: 8
- SBA loan funds approved: $13.3 million (About $362 per resident)
- Number of loans: 8
- SBA loan funds approved: $384,000 (About $208 per resident)
- Number of loans: 1
- SBA loan funds approved: $7.4 million (About $214 per resident)
- Number of loans: 10
- SBA loan funds approved: $4.4 million (About $311 per resident)
- Number of loans: 2
- SBA loan funds approved: $6.1 million (About $229 per resident)
- Number of loans: 7
- SBA loan funds approved: $6.8 million (About $153 per resident)
- Number of loans: 8
- SBA loan funds approved: $14.9 million (About $88 per resident)
- Number of loans: 39
- SBA loan funds approved: $5.5 million (About $192 per resident)
- Number of loans: 5
- SBA loan funds approved: $1.5 million (About $341 per resident)
- Number of loans: 1
- SBA loan funds approved: $3.0 million (About $262 per resident)
- Number of loans: 2
- SBA loan funds approved: $1.5 million (About $745 per resident)
- Number of loans: 1
- SBA loan funds approved: $1.4 million (About $746 per resident)
- Number of loans: 1
- SBA loan funds approved: $9.2 million (About $201 per resident)
- Number of loans: 15
- SBA loan funds approved: $6.9 million (About $777 per resident)
- Number of loans: 22
- SBA loan funds approved: $1.3 million (About $331 per resident)
- Number of loans: 3
- SBA loan funds approved: $5.3 million (About $172 per resident)
- Number of loans: 3
- SBA loan funds approved: $13.6 million (About $597 per resident)
- Number of loans: 8
- SBA loan funds approved: $13.9 million (About $451 per resident)
- Number of loans: 7
Story editing by Ashleigh Graf. Copy editing by Paris Close. Photo selection by Michael Flocker.
This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
