Industry data
Financing for bakeries: what the loan data shows
711 SBA 7(a) loans went to bakeries recently, at a median of $174,500. The lenders that make them, the terms they write, and what underwriters look at.
711 SBA 7(a) loans went to bakeries in the most recent fiscal years, at a median of $174,500 over 10 years. 51.1% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a bakerie loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Retail bakeries | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 711 | 214,102 |
| Median loan | $174,500 | $150,000 |
| 25th - 75th percentile | $50,000 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.00% | 10.25% |
| Share to new businesses | 51.1% | 33.6% |
| Charge-off rate, FY2010-19 | 7.3% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run larger than average. The median of $174,500 is 16% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- New businesses do well here. 51% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- Lending here is fragmented. The top three lenders made only 22% of these loans between them, so no single institution owns this market. That is good news: it means shopping genuinely pays.
Which lenders actually fund bakeries
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to bakeries, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 102 | $62,500 | 53% | 10.25% |
| Manufacturers and Traders Trust Company | 28 | $77,500 | 46% | 11.25% |
| Newtek Bank | 27 | $198,000 | 44% | 11.25% |
| TD Bank | 24 | $50,000 | 42% | 11.50% |
| BayFirst National Bank | 17 | $150,000 | 0% | 13.25% |
| Readycap Lending, LLC | 16 | $50,000 | 0% | 14.12% |
| First Internet Bank of Indiana | 15 | $761,000 | 87% | 10.50% |
| JPMorgan Chase Bank | 15 | $100,000 | 20% | 12.75% |
| KeyBank | 15 | $75,000 | 53% | 9.74% |
| Banco Popular de Puerto Rico | 14 | $73,500 | 43% | 11.75% |
Where these businesses borrow
Most active states for bakeries: California (87), Ohio (62), New York (52), Texas (44), Florida (40), Michigan (32).
Which financing fits
| Product | Fit for this sector | Typical cost |
|---|---|---|
| SBA 7(a) | The dominant vehicle in this niche | 10.0% - 14.0% APR |
| Equipment financing | For the hard assets, often cheaper separately | 7.0% - 30.0% APR |
| Line of credit | For seasonality and payroll timing | 9.0% - 60.0% APR |
| SBA microloan | If you need under $50,000 | 8.0% - 13.0% APR |
| Business acquisition loan | If you are buying an existing operation | 10.0% - 14.0% APR |
Before you apply
- Check coverage first. Run the payment through the affordability calculator at 1.25x.
- Shortlist from the lender table, favouring ones whose median loan here is close to what you need.
- Assemble the documents — see the checklist.
- If you are buying rather than starting, read business acquisition loans first; the injection rules and diligence are different.