Industry data
Financing for home health agencies: what the loan data shows
1,960 SBA 7(a) loans went to home health agencies recently, at a median of $184,750. The lenders that make them, the terms they write, and what underwriters look at.
1,960 SBA 7(a) loans went to home health agencies in the most recent fiscal years, at a median of $184,750 over 10 years. 32.3% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a home health agencie loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Home health care agencies | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 1,960 | 214,102 |
| Median loan | $184,750 | $150,000 |
| 25th - 75th percentile | $80,000 - $470,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to new businesses | 32.3% | 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 $184,750 is 23% 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.
- Startup share is about average, at 32% against 34% nationally.
- No single lender dominates, but the top three made 33% of these loans, so the shortlist below covers most of the active market.
What lenders look at in this sector
Licensure, Medicare or Medicaid certification, and caregiver turnover are the underwriting. Payment lags from government payers make this a sector where a line of credit alongside the term loan is often the right structure.
Which lenders actually fund home health agencies
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to home health agencies, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 332 | $104,650 | 46% | 10.25% |
| Live Oak Banking Company | 212 | $350,000 | 22% | 9.75% |
| Newtek Bank | 103 | $300,000 | 13% | 11.25% |
| Readycap Lending, LLC | 94 | $51,250 | 12% | 13.25% |
| U.S. Bank | 76 | $68,500 | 49% | 9.22% |
| BayFirst National Bank | 74 | $150,000 | 3% | 12.25% |
| Northeast Bank | 72 | $150,000 | 6% | 10.50% |
| Manufacturers and Traders Trust Company | 62 | $75,000 | 34% | 11.87% |
| Wells Fargo Bank | 46 | $15,000 | 91% | 13.50% |
| JPMorgan Chase Bank | 45 | $150,000 | 7% | 13.25% |
Where these businesses borrow
Most active states for home health agencies: California (249), Texas (184), Ohio (181), Florida (150), Illinois (88), Minnesota (81).
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.