Industry data
Financing for pet care businesses: what the loan data shows
1,950 SBA 7(a) loans went to pet care businesses recently, at a median of $225,000. The lenders that make them, the terms they write, and what underwriters look at.
1,950 SBA 7(a) loans went to pet care businesses in the most recent fiscal years, at a median of $225,000 over 10 years. 53.1% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a pet care business loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Pet grooming and boarding | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 1,950 | 214,102 |
| Median loan | $225,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $580,500 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.00% | 10.25% |
| Share to new businesses | 53.1% | 33.6% |
| Charge-off rate, FY2010-19 | 5.8% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run larger than average. The median of $225,000 is 50% 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. 53% 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.
- No single lender dominates, but the top three made 29% of these loans, so the shortlist below covers most of the active market.
What lenders look at in this sector
Grooming, boarding and daycare have very different capital needs and very different revenue stability. Boarding is real-estate heavy; grooming is labour heavy. Lenders will want the split.
Which lenders actually fund pet care businesses
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to pet care businesses, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 364 | $70,550 | 77% | 10.50% |
| Live Oak Banking Company | 114 | $1,087,500 | 53% | 9.00% |
| First Financial Bank | 87 | $732,000 | 30% | 8.50% |
| Newtek Bank | 67 | $100,000 | 33% | 11.25% |
| TD Bank | 61 | $60,000 | 41% | 11.50% |
| Readycap Lending, LLC | 56 | $115,000 | 25% | 11.38% |
| First Bank of the Lake | 53 | $416,000 | 87% | 10.50% |
| U.S. Bank | 50 | $31,000 | 34% | 9.50% |
| Manufacturers and Traders Trust Company | 46 | $30,000 | 28% | 11.50% |
| Northeast Bank | 46 | $53,500 | 11% | 10.62% |
Where these businesses borrow
Most active states for pet care businesses: Texas (179), Florida (149), California (138), Ohio (105), New York (102), Pennsylvania (79).
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.