NAICS 236116 · Construction
SBA loans for new multifamily housing construction
494 SBA loans worth $146.7M have been approved in this industry since FY2010 - the #341 most-financed NAICS code in the country.
Median loan
$100,000
-44% vs all industries
Typical range
$18K-$612K
Middle 80%
Median rate
7.75%
7(a) initial note rate
Median term
8.5 yr
Charge-off rate
13.7%
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 |
|---|---|---|---|
| Red River State Bank | 10 | $11.1M | |
| Dime Commercial Bank | 4 | $7.8M | |
| Mortgage Capital Development Corporation | 5 | $5.4M | |
| 22nd State Bank, A Division of 22nd State Banking Company | 1 | $5.0M | |
| HomeTown Bank | 1 | $5.0M | |
| The Huntington National Bank | 10 | $4.7M | |
| JPMorgan Chase Bank | 44 | $4.6M | |
| Northeast Bank | 24 | $4.5M | |
| Newtek Small Business Finance, Inc. | 5 | $4.5M | |
| First Commonwealth Bank | 2 | $4.2M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| California | 92 | |
| New York | 49 | |
| Texas | 40 | |
| Massachusetts | 24 | |
| Florida | 20 | |
| Utah | 17 | |
| Pennsylvania | 17 | |
| Washington | 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 $50K30%
- $50K - $150K31%
- $150K - $350K19%
- $350K - $1M14%
- $1M - $2M4%
- Over $2M3%
Nearby
Other construction industries
All Other Specialty Trade Contractors15,723 · $150,000Residential Remodelers15,599 · $50,000Plumbing, Heating, and Air-Conditioning Contractors15,587 · $141,000Electrical Contractors and Other Wiring Installation Contractors10,910 · $100,000Commercial and Institutional Building Construction6,348 · $150,000Site Preparation Contractors6,105 · $100,500New Single-Family Housing Construction5,855 · $75,000Painting and Wall Covering Contractors4,412 · $60,000
Common questions
- How much do SBA lenders typically lend to a new multifamily housing construction business?
- The median SBA approval in NAICS 236116 is $100,000, with the middle 80% of loans between $17,500 and $612,000. Across all industries the median is $180,000.
- Which lenders are most active in new multifamily housing construction?
- By dollars approved: Red River State Bank, Dime Commercial Bank, Mortgage Capital Development Corporation, 22nd State Bank, A Division of 22nd State Banking Company, HomeTown 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 new multifamily housing construction considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 13.7% 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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