How much do SBA lenders typically lend to a hay farming business?

The median SBA approval in NAICS 111940 is $50,000, with the middle 80% of loans between $10,200 and $535,000. Across all industries the median is $180,000.

Which lenders are most active in hay farming?

By dollars approved: First-Citizens Bank & Trust Company, Live Oak Banking Company, Red River State Bank, The Bank of Clovis, BancFirst. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.

Is hay farming considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 0.0% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

NAICS 111940 · Agriculture

SBA loans for hay farming

114 SBA loans worth $20.3M have been approved in this industry since FY2010 - the #660 most-financed NAICS code in the country.

Median loan

$50,000

-72% vs all industries

Typical range

$10K-$535K

Middle 80%

Median rate

7.25%

7(a) initial note rate

Median term

7 yr

Charge-off rate

0.0%

vs 7.6% all industries

Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.

Lenders

Most active in this industry

Lender	Loans	Approved
First-Citizens Bank & Trust Company	2	$2.3M
Live Oak Banking Company	2	$2.2M
Red River State Bank	11	$1.8M
The Bank of Clovis	2	$1.6M
BancFirst	4	$1.4M
KeyBank	3	$1.3M
Timberland Bank	1	$975K
Bokf	2	$918K
Prime Alliance Bank	1	$900K
Zions Bank, A Division of	4	$625K

Geography

Where these loans were made

State	Loans	Share
Washington	15
New York	10
Minnesota	10
Oregon	8
California	6
Pennsylvania	6
Texas	5
Oklahoma	5

Approvals by fiscal year

’10

’11

’12

’13

’14

’16

’17

’18

’19

’20

’21

’22

’23

’24

’25

’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
45%
$50K - $150K
30%
$150K - $350K
11%
$350K - $1M
11%
$1M - $2M
2%
Over $2M
2%

Nearby

Other agriculture industries

See the sector

Broilers and Other Meat Type Chicken Production4,094 · $677,000 Logging1,090 · $88,000 Support Activities for Animal Production803 · $189,000 Chicken Egg Production727 · $473,000 Beef Cattle Ranching and Farming629 · $75,300 Other Poultry Production483 · $350,000 Nursery and Tree Production452 · $260,500 Soil Preparation, Planting, and Cultivating451 · $171,600

Common questions

How much do SBA lenders typically lend to a hay farming business?: The median SBA approval in NAICS 111940 is $50,000, with the middle 80% of loans between $10,200 and $535,000. Across all industries the median is $180,000.
Which lenders are most active in hay farming?: By dollars approved: First-Citizens Bank & Trust Company, Live Oak Banking Company, Red River State Bank, The Bank of Clovis, BancFirst. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.
Is hay farming considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 0.0% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

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