How much do SBA lenders typically lend to a construction sand and gravel mining business?

The median SBA approval in NAICS 212321 is $142,200, with the middle 80% of loans between $20,000 and $1,650,000. Across all industries the median is $180,000.

Which lenders are most active in construction sand and gravel mining?

By dollars approved: Columbia Bank, The Huntington National Bank, KeyBank, Newtek Small Business Finance, Inc., Horizon 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 construction sand and gravel mining considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 9.6% were charged off, versus 7.6% across all SBA lending. That is materially above average, which in practice tends to mean tighter underwriting, more collateral, or a larger equity injection.

NAICS 212321 · Mining & Energy

SBA loans for construction sand and gravel mining

437 SBA loans worth $232.6M have been approved in this industry since FY2010 - the #358 most-financed NAICS code in the country.

Median loan

$142,200

-21% vs all industries

Typical range

$20K-$1.6M

Middle 80%

Median rate

7.22%

7(a) initial note rate

Median term

7 yr

Charge-off rate

9.6%

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
Columbia Bank	8	$11.1M
The Huntington National Bank	12	$10.9M
KeyBank	12	$9.9M
Newtek Small Business Finance, Inc.	5	$7.0M
Horizon Bank	2	$6.7M
Northeast Bank	22	$6.5M
Bank First	2	$6.1M
Alerus Financial	3	$6.0M
First Bank	2	$5.2M
Rural Missouri, Inc.	1	$5.0M

Geography

Where these loans were made

State	Loans	Share
Texas	100
Minnesota	38
California	24
New York	23
Arizona	18
Utah	17
Ohio	16
Michigan	15

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

’21

’22

’23

’24

’25

’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
30%
$50K - $150K
20%
$150K - $350K
17%
$350K - $1M
17%
$1M - $2M
8%
Over $2M
8%

Nearby

Other mining & energy industries

See the sector

Support Activities for Oil and Gas Operations1,275 · $212,600 Drilling Oil and Gas Wells184 · $233,650 Dimension Stone Mining and Quarrying84 · $350,000 Other Crushed and Broken Stone Mining and Quarrying58 · $500,000 Crude Petroleum and Natural Gas Extraction51 · $200,000 Crude Petroleum Extraction49 · $713,000

Common questions

How much do SBA lenders typically lend to a construction sand and gravel mining business?: The median SBA approval in NAICS 212321 is $142,200, with the middle 80% of loans between $20,000 and $1,650,000. Across all industries the median is $180,000.
Which lenders are most active in construction sand and gravel mining?: By dollars approved: Columbia Bank, The Huntington National Bank, KeyBank, Newtek Small Business Finance, Inc., Horizon 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 construction sand and gravel mining considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 9.6% were charged off, versus 7.6% across all SBA lending. That is materially above average, which in practice tends to mean tighter underwriting, more collateral, or a larger equity injection.

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