State lending data
SBA lending in Tennessee
2,643 SBA 7(a) loans went to businesses in Tennessee recently, at a median of $230,700. The lenders that made them, what they charged, and how the state is trending.
2,643 SBA 7(a) loans went to businesses in Tennessee in the most recent fiscal years, at a median of $230,700. The most active lender in the state was U.S. Bank, with 334 loans. Approvals are down 13.1% on the year.
SBA lending in Tennessee, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in Tennessee, not advertised ranges.
| Measure | Tennessee | National |
|---|---|---|
| Loans approved | 2,643 | 214,102 |
| Total approved | $1.5 billion | $104.1 billion |
| Median loan | $230,700 | $150,000 |
| 25th – 75th percentile | $80,000 – $575,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to startups | 42.0% | 33.6% |
| Charge-off rate, FY2010–19 | 7.8% | 7.1% |
| Jobs supported | 28,934 | 2,142,602 |
| Counties with recorded lending | 86 | — |
| Lenders active in the state | 191 | — |
Is SBA lending in Tennessee growing or shrinking?
Shrinking, along with almost every other state. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in Tennessee went from 520 to 452 loans, down 13.1% — while the dollars approved went from $283.0 million to $279.4 million, flat. The average approval rose from $544,212 to $618,110, so the change is weighted toward larger loans.
Tennessee is holding up better than most of the country: 10th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in Tennessee | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 594 | 51,747 | 1.1% |
| FY2024 | 715 | 62,618 | 1.1% |
| FY2025 | 829 | 64,096 | 1.3% |
| FY2026 (part year) | 505 | 35,641 | 1.4% |
Which lenders actually fund businesses in Tennessee
Ranked by loans approved inside Tennessee. The median, startup share and rate columns describe each lender's own Tennessee loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 334 | $40,000 | 42% | 9.49% |
| The Huntington National Bank | 307 | $246,300 | 68% | 10.25% |
| Newtek Bank | 185 | $170,000 | 23% | 11.00% |
| BayFirst National Bank | 134 | $150,000 | 2% | 12.25% |
| Readycap Lending, LLC | 128 | $50,000 | 18% | 13.38% |
| Pinnacle Bank | 112 | $702,000 | 36% | 10.00% |
| Northeast Bank | 110 | $106,200 | 11% | 10.75% |
| Live Oak Banking Company | 104 | $820,000 | 42% | 9.50% |
| United Midwest Savings Bank | 86 | $150,000 | 86% | 10.50% |
| Regions Bank | 58 | $349,500 | 22% | 8.62% |
| Celtic Bank Corporation | 51 | $150,000 | 26% | 10.25% |
| Wells Fargo Bank | 44 | $25,000 | 84% | 13.00% |
What stands out about Tennessee
Reading the state's own figures against the national picture:
- Loans here run larger than average. The median of $230,700 is 54% 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. 42.0% of these loans went to startups or businesses no more than two years old, against 33.6% nationally — an unusually open market if you have no trading history.
Who borrows in Tennessee
The industry mix of SBA borrowers here, led by restaurants and hotels.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Restaurants and Hotels | 377 | 14.3% | $404,000 | 58% |
| Construction | 340 | 12.9% | $150,000 | 37% |
| Personal Services | 308 | 11.7% | $250,000 | 48% |
| Retail | 288 | 10.9% | $171,750 | 43% |
| Professional Services | 237 | 9.0% | $191,000 | 25% |
| Admin Services | 219 | 8.3% | $150,000 | 48% |
| Healthcare | 206 | 7.8% | $300,000 | 44% |
| Arts and Recreation | 153 | 5.8% | $329,300 | 60% |
| Manufacturing | 125 | 4.7% | $300,000 | 30% |
| Wholesale | 84 | 3.2% | $305,000 | 21% |
| Trucking | 77 | 2.9% | $263,200 | 31% |
| Real Estate | 67 | 2.5% | $318,000 | 33% |
Where the money goes in Tennessee
SBA lending is more concentrated than state totals suggest, and Davidson County alone accounts for 20% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Davidson County | 530 | $240,000 | $311.1 million |
| Shelby County | 282 | $272,550 | $155.8 million |
| Williamson County | 260 | $248,550 | $164.0 million |
| Knox County | 244 | $250,000 | $122.0 million |
| Hamilton County | 158 | $284,500 | $98.6 million |
| Rutherford County | 147 | $163,200 | $70.9 million |
| Montgomery County | 116 | $150,000 | $49.1 million |
| Sumner County | 98 | $150,000 | $51.4 million |
| Wilson County | 76 | $250,000 | $54.8 million |
| Maury County | 59 | $150,000 | $18.8 million |
| Blount County | 43 | $200,000 | $21.3 million |
| Sevier County | 41 | $361,200 | $37.0 million |
SBA 504 in Tennessee
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | Tennessee 504 | National 504 |
|---|---|---|
| Projects approved | 84 | 22,192 |
| Median CDC share | $1,155,500 | $730,000 |
| Median total project | $2,647,054 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in Tennessee
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in Tennessee is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Connecticut, South Carolina, Missouri, Nevada, Oregon, Idaho, California, Florida
Questions people actually ask
How many SBA loans are approved in Tennessee each year?
2,643 SBA 7(a) loans were approved to businesses in Tennessee across fiscal years 2023 to 2026, using data released June 2026, worth $1.5 billion in total. Over the most recent comparable months the number of approvals ran down 13.1% year on year, while the dollars approved ran flat.
Which bank approves the most SBA loans in Tennessee?
U.S. Bank, with 334 loans approved to businesses in the state and a median loan of $40,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in Tennessee?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.