How much do SBA lenders typically lend to a horses and other equine production business?

The median SBA approval in NAICS 112920 is $150,000, with the middle 80% of loans between $15,000 and $1,139,000. Across all industries the median is $180,000.

Which lenders are most active in horses and other equine production?

By dollars approved: U.S. Bank, The Huntington National Bank, Enterprise Bank & Trust, Zions Bank, A Division of, KeyBank. 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 horses and other equine production considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.5% were charged off, versus 7.6% across all SBA lending. That is close to average.

NAICS 112920 · Agriculture

SBA loans for horses and other equine production

218 SBA loans worth $87.5M have been approved in this industry since FY2010 - the #523 most-financed NAICS code in the country.

Median loan

$150,000

-17% vs all industries

Typical range

$15K-$1.1M

Middle 80%

Median rate

7.50%

7(a) initial note rate

Median term

10 yr

Charge-off rate

6.5%

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
U.S. Bank	6	$7.3M
The Huntington National Bank	14	$4.0M
Enterprise Bank & Trust	3	$3.6M
Zions Bank, A Division of	4	$3.5M
KeyBank	1	$3.2M
SNB Bank	1	$3.1M
FDIC - Community Bank & Trust-West Georgia	2	$3.1M
Live Oak Banking Company	1	$2.9M
HomeTrust Bank	3	$2.8M
Beacon Bank and Trust	2	$2.2M

Geography

Where these loans were made

State	Loans	Share
Florida	15
Kentucky	12
California	12
New York	11
Georgia	11
Wisconsin	9
Virginia	8
Utah	8

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

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’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
29%
$50K - $150K
17%
$150K - $350K
20%
$350K - $1M
21%
$1M - $2M
10%
Over $2M
3%

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 horses and other equine production business?: The median SBA approval in NAICS 112920 is $150,000, with the middle 80% of loans between $15,000 and $1,139,000. Across all industries the median is $180,000.
Which lenders are most active in horses and other equine production?: By dollars approved: U.S. Bank, The Huntington National Bank, Enterprise Bank & Trust, Zions Bank, A Division of, KeyBank. 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 horses and other equine production considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.5% were charged off, versus 7.6% across all SBA lending. That is close to average.

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