How much do SBA lenders typically lend to a dairy cattle and milk production business?

The median SBA approval in NAICS 112120 is $217,000, with the middle 80% of loans between $25,000 and $1,944,000. Across all industries the median is $180,000.

Which lenders are most active in dairy cattle and milk production?

By dollars approved: WBD, Inc., Hiawatha National Bank, Dakota Business Finance, First Business Bank, Equity Bank. 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 dairy cattle and milk production considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.6% were charged off, versus 7.6% across all SBA lending. That is close to average.

NAICS 112120 · Agriculture

SBA loans for dairy cattle and milk production

403 SBA loans worth $282.1M have been approved in this industry since FY2010 - the #377 most-financed NAICS code in the country.

Median loan

$217,000

+21% vs all industries

Typical range

$25K-$1.9M

Middle 80%

Median rate

6.00%

7(a) initial note rate

Median term

10 yr

Charge-off rate

6.6%

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
WBD, Inc.	38	$53.5M
Hiawatha National Bank	42	$26.3M
Dakota Business Finance	9	$11.9M
First Business Bank	2	$10.0M
Equity Bank	6	$9.0M
UMB Bank	10	$8.3M
Security Financial Bank	17	$8.1M
SouthState Bank	4	$6.3M
Midwest Business Finance Corporation	6	$6.0M
Lake Agassiz Certified Development Company	3	$5.9M

Geography

Where these loans were made

State	Loans	Share
Wisconsin	133
Minnesota	43
New York	39
Pennsylvania	34
North Dakota	20
South Dakota	12
Iowa	12
California	12

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

’21

’22

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’25

’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
18%
$50K - $150K
20%
$150K - $350K
21%
$350K - $1M
19%
$1M - $2M
13%
Over $2M
9%

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 dairy cattle and milk production business?: The median SBA approval in NAICS 112120 is $217,000, with the middle 80% of loans between $25,000 and $1,944,000. Across all industries the median is $180,000.
Which lenders are most active in dairy cattle and milk production?: By dollars approved: WBD, Inc., Hiawatha National Bank, Dakota Business Finance, First Business Bank, Equity Bank. 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 dairy cattle and milk production considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.6% were charged off, versus 7.6% across all SBA lending. That is close to average.

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