Lending data
Who actually lends to retail businesses in Alabama?
173 SBA 7(a) loans went to retail businesses in Alabama recently, at a median of $275,000. Here are the lenders that made them, ranked.
173 SBA 7(a) loans went to retail businesses in Alabama in the most recent fiscal years. The median was $275,000 over 10 years. The most active lender was Northeast Bank, with 11 loans.
What lending to retail 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 | Retail, Alabama | All 7(a) borrowers |
|---|---|---|
| Loans approved | 173 | 214,102 |
| Median loan | $275,000 | $150,000 |
| 25th - 75th percentile | $124,750 - $701,500 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.50% | 10.25% |
| Share to startups | 38.2% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 10.1% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to retail 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 |
|---|---|---|---|---|
| Northeast Bank | 11 | $50,000 | 9% | 11.25% |
| Live Oak Banking Company | 9 | $1,050,000 | 11% | 9.50% |
| SouthState Bank | 9 | $548,000 | 33% | 10.50% |
| Wells Fargo Bank | 9 | $15,000 | 89% | 12.50% |
| Newtek Bank | 9 | $150,000 | 11% | 11.50% |
| The Huntington National Bank | 8 | $227,500 | 50% | 10.75% |
| Sabre Finance | 7 | $93,000 | 71% | 10.50% |
| BayFirst National Bank | 7 | $150,000 | 0% | 12.75% |
| United Midwest Savings Bank | 6 | $135,000 | 100% | 10.25% |
| First Financial Bank | 6 | $712,500 | 17% | 10.12% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $275,000 is 83% 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 38% against 34% nationally.
- Lending here is fragmented. The top three lenders made only 17% of these loans between them, so no single institution owns this market. That is good news: it means shopping genuinely pays.
- Lenders have been burned here before. 10.1% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
Which of them lend to new businesses
Of those loans, 38.2% 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 |
|---|---|---|---|---|
| Wells Fargo Bank | 8 | $15,000 | 89% | 12.50% |
| United Midwest Savings Bank | 6 | $135,000 | 100% | 10.25% |
| Sabre Finance | 5 | $93,000 | 71% | 10.50% |
| BankFirst Financial Services | 4 | $174,450 | 100% | 10.38% |
| The Huntington National Bank | 4 | $227,500 | 50% | 10.75% |
| SouthState Bank | 3 | $548,000 | 33% | 10.50% |
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, construction, personal services, healthcare, professional services, admin services
- Retail in comparable states: New Hampshire, Louisiana, Kentucky, Kansas, Oklahoma, Iowa