Industry data
Financing for clothing stores: what the loan data shows
1,819 SBA 7(a) loans went to clothing stores recently, at a median of $102,400. The lenders that make them, the terms they write, and what underwriters look at.
1,819 SBA 7(a) loans went to clothing stores in the most recent fiscal years, at a median of $102,400 over 10 years. 30.3% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a clothing store loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Clothing and apparel retailers | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 1,819 | 214,102 |
| Median loan | $102,400 | $150,000 |
| 25th - 75th percentile | $45,000 - $250,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.55% | 10.25% |
| Share to new businesses | 30.3% | 33.6% |
| Charge-off rate, FY2010-19 | not enough history | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run smaller than average. The median of $102,400 is 32% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 30% against 34% nationally.
- Lending here is fragmented. The top three lenders made only 21% 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 clothing stores
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to clothing stores, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 178 | $63,000 | 38% | 10.50% |
| Newtek Bank | 107 | $150,000 | 15% | 11.00% |
| Readycap Lending, LLC | 104 | $50,000 | 10% | 13.62% |
| Wells Fargo Bank | 99 | $15,000 | 93% | 13.00% |
| U.S. Bank | 96 | $30,000 | 33% | 9.87% |
| BayFirst National Bank | 93 | $150,000 | 1% | 12.75% |
| TD Bank | 88 | $60,000 | 31% | 11.00% |
| Northeast Bank | 79 | $74,000 | 14% | 10.75% |
| Manufacturers and Traders Trust Company | 70 | $50,000 | 40% | 11.25% |
| Lendistry SBLC, LLC | 62 | $145,000 | 0% | 13.00% |
Where these businesses borrow
Most active states for clothing stores: California (207), New York (199), Texas (146), Florida (111), Ohio (82), New Jersey (78).
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.