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NAICS 221114 · Utilities
SBA loans for solar electric power generation
206 SBA loans worth $112.3M have been approved in this industry since FY2010 - the #536 most-financed NAICS code in the country.
Median loan
$226,500
+26% vs all industries
Typical range
$25K-$1.3M
Middle 80%
Median rate
9.50%
7(a) initial note rate
Median term
10 yr
Charge-off rate
9.1%
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 | Share |
|---|---|---|---|
| Newtek Bank | 6 | $15.2M | |
| Georgia's Own Credit Union | 3 | $6.0M | |
| Bay Colony Development Corporation | 6 | $6.0M | |
| Seacoast National Bank | 3 | $5.5M | |
| Granite State Economic Development Corporation | 13 | $5.0M | |
| Empire State Certified Development Corporation | 4 | $3.9M | |
| Columbia Bank | 1 | $3.6M | |
| RiverBank | 1 | $3.6M | |
| HEDCO Local Development Corporation | 1 | $3.5M | |
| Mortgage Capital Development Corporation | 4 | $3.4M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| California | 51 | |
| Texas | 22 | |
| Massachusetts | 17 | |
| Florida | 14 | |
| Puerto Rico | 12 | |
| Vermont | 7 | |
| Arizona | 7 | |
| New Jersey | 6 |
An SBA 7(a) lender for loans this size
62% of the SBA loans approved in solar electric power generation since FY2010 were under $350,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
Approvals by fiscal year
Loan count. Final bar is a partial fiscal year.
Loan sizes
- Under $50K16%
- $50K - $150K14%
- $150K - $350K32%
- $350K - $1M23%
- $1M - $2M8%
- Over $2M7%
Nearby
Other utilities industries
Common questions
- How much do SBA lenders typically lend to a solar electric power generation business?
- The median SBA approval in NAICS 221114 is $226,500, with the middle 80% of loans between $25,000 and $1,251,000. Across all industries the median is $180,000.
- Which lenders are most active in solar electric power generation?
- By dollars approved: Newtek Bank, Georgia's Own Credit Union, Bay Colony Development Corporation, Seacoast National Bank, Granite State Economic Development Corporation. 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 solar electric power generation considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 9.1% were charged off, versus 7.6% across all SBA lending. That is close to average.
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