Lending data
Who actually lends to schools and training businesses in Alabama?
24 SBA 7(a) loans went to schools and training businesses in Alabama recently, at a median of $221,600. Here are the lenders that made them, ranked.
24 SBA 7(a) loans went to schools and training businesses in Alabama in the most recent fiscal years. The median was $221,600 over 10 years. The most active lender was The Huntington National Bank, with 4 loans.
What lending to schools and training businesses in Alabama actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Educational services, Alabama | All 7(a) borrowers |
|---|---|---|
| Loans approved | 24 | 214,102 |
| Median loan | $221,600 | $150,000 |
| 25th - 75th percentile | $57,600 - $386,625 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.62% | 10.25% |
| Share to startups | 33.3% | 33.6% |
| Charge-off rate, FY2010-19 cohort | not enough history | 7.1% |
Which lenders actually funded them
Ranked by loans approved to schools and training businesses in Alabama. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 4 | $312,750 | 50% | 10.12% |
| Northeast Bank | 3 | $50,000 | 67% | 11.25% |
| Newtek Bank | 3 | $250,000 | 0% | 10.50% |
| Celtic Bank Corporation | 2 | $88,550 | 0% | 11.25% |
| Readycap Lending, LLC | 2 | $94,500 | 0% | 12.25% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $221,600 is 48% 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 33% against 34% nationally.
- No single lender dominates, but the top three made 42% of these loans, so the shortlist below covers most of the active market.
Which of them lend to new businesses
Of those loans, 33.3% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Northeast Bank | 2 | $50,000 | 67% | 11.25% |
| The Huntington National Bank | 2 | $312,750 | 50% | 10.12% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Alabama: restaurants and hotels, retail, construction, personal services, healthcare, professional services
- Education in comparable states: Louisiana, New Hampshire, Kansas, South Carolina, Indiana, Connecticut