SBA Reports $39.5 Billion in 7(a) and 504 Loans for Fiscal 2026, Down From $44.8 Billion

The U.S. Small Business Administration said on Nov. 2 that it guaranteed 62,205 loans worth $39.5 billion through its 7(a) and 504 programs in fiscal 2026. The agency called that the third-highest lending volume in its history.

Administrator Kelly Loeffler also put total support to small businesses at $100 billion for the year, the second year in a row. The figure covers more than loans, and the results arrive after a federal shutdown interrupted lending.

What the SBA Reported for Fiscal 2026

The 7(a) program guaranteed 56,130 loans totaling $32.4 billion. The 504 program guaranteed 6,075 loans totaling $7.1 billion. Together they make up the 62,205 loans and $39.5 billion the agency reported, according to SBA news release 26-113.

The SBA said lending was strongest in accommodation, retail trade, health care, construction and manufacturing. Construction and manufacturing firms received $7 billion through 11,790 loans. Rural small businesses received 10,314 loans totaling $6.5 billion.

The agency also reported several targeted products. The 90% Made in America Guarantee backed 149 loans of nearly $300 million, and the 90% Grocery Guarantee backed 79 loans totaling $145 million. The Manufacturers’ Access to Revolving Credit product backed 59 loans totaling $54 million.

Fiscal 2026 at a glance
The SBA guaranteed 56,130 7(a) loans worth $32.4 billion and 6,075 504 loans worth $7.1 billion in fiscal 2026, for 62,205 loans and $39.5 billion in total.

What the $100 Billion Figure Covers

The $100 billion headline is a broader measure than loan guarantees. Fox News, which interviewed Loeffler, reports that the SBA says it includes private investment, disaster aid and business support, not only SBA-guaranteed loans.

The SBA’s Small Business Investment Company program closed the year with a record $60 billion portfolio in combined private capital and SBA leverage. The agency approved 46 new SBIC licenses, which it expects to support more than $12 billion in investment. It also approved 35 “Green Light” letters for licenses expected to generate $8 billion more.

On disaster aid, the SBA approved 5,879 loans totaling $272 million and disbursed 5,371 loans totaling $192 million. Major responses covered Super Typhoon Sinlaku in the Northern Mariana Islands and severe winter storms in Mississippi and Tennessee.

The agency obligated $419 million for counseling, training and contracting support through its resource partner network.

The Shutdown’s Effect on Lending

A 43-day federal shutdown halted lending through the main loan programs for nearly two months of the fiscal year. The SBA estimates it could not guarantee about $170 million in loans per business day, roughly $5 billion in total.

Funderintel puts fiscal 2025 SBA lending at $44.8 billion. That makes fiscal 2026 about 12% lower in dollars. The SBA’s release describes fiscal 2025 as record-setting.

Loeffler said the agency “delivered its third-highest loan volume on record” despite the shutdown, and closed the year with a record SBIC portfolio. She credited the administration’s America First agenda with driving record business formations in 2026 and rising demand for capital.

The SBA supported more than 9,700 startups through the 7(a) and 504 programs, totaling $6.5 billion in financing.

Startups and the Policy Debate Around SBA Lending

The SBA supported more than 9,700 startups through the 7(a) and 504 programs, totaling $6.5 billion in financing.

Loeffler told Fox News Digital that the agency had “just recorded our second consecutive year” of delivering $100 billion to Main Street businesses. She credited the administration’s tax, deregulation and trade policies.

She said business owners want to expand but need confidence that Washington will back long-term investment, and that they most often cite a need for skilled workers. Fox News framed the figure as part of the economic debate that could help determine which party controls Congress.

Funderintel notes that SBA lending rules have been disputed. The SBA tightened 7(a) underwriting in April 2025, a change Sen. Joni Ernst, a Republican from Iowa, welcomed.

In May 2026, Democratic Sens. Ron Wyden and Ed Markey wrote to Loeffler about a June 2025 SBA rule that stopped SBA loans from refinancing merchant cash advance debt. In September 2026, Markey and Rep. Nydia Velázquez backed an effort to overturn an SBA rule barring green card holders from SBA loans.

The SBA’s figures are as of Nov. 2.