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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 |
An SBA 7(a) lender for loans this size
79% of the SBA loans approved in new multifamily housing construction 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 $50K30%
- $50K - $150K31%
- $150K - $350K19%
- $350K - $1M14%
- $1M - $2M4%
- Over $2M3%
Nearby
Other construction industries
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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