Advertiser disclosure: Some links on this page earn us a commission. Compensation never affects our data, our rankings, or which lenders we cover. How we make money.
NAICS 331110 · Manufacturing
SBA loans for iron and steel mills and ferroalloy manufacturing
109 SBA loans worth $73.7M have been approved in this industry since FY2010 - the #668 most-financed NAICS code in the country.
Median loan
$278,500
+55% vs all industries
Typical range
$40K-$2.0M
Middle 80%
Median rate
6.25%
7(a) initial note rate
Median term
10 yr
Charge-off rate
11.1%
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 |
|---|---|---|---|
| Celtic Bank Corporation | 8 | $10.6M | |
| KeyBank | 5 | $6.0M | |
| Old National Bank | 2 | $4.6M | |
| Alloy Development Co., Inc. | 1 | $4.2M | |
| U.S. Bank | 3 | $3.6M | |
| Harvest Small Business Finance, LLC | 3 | $3.3M | |
| Empire State Certified Development Corporation | 1 | $3.1M | |
| The Huntington National Bank | 15 | $2.8M | |
| EDC Finance Corporation | 1 | $2.7M | |
| Business Finance Capital | 2 | $2.6M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| Ohio | 14 | |
| California | 11 | |
| New York | 11 | |
| Texas | 10 | |
| Michigan | 9 | |
| Colorado | 7 | |
| Pennsylvania | 6 | |
| Illinois | 5 |
An SBA 7(a) lender for loans this size
56% of the SBA loans approved in iron and steel mills and ferroalloy manufacturing 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 $50K13%
- $50K - $150K21%
- $150K - $350K22%
- $350K - $1M27%
- $1M - $2M6%
- Over $2M11%
Nearby
Other manufacturing industries
Common questions
- How much do SBA lenders typically lend to a iron and steel mills and ferroalloy manufacturing business?
- The median SBA approval in NAICS 331110 is $278,500, with the middle 80% of loans between $40,000 and $2,012,600. Across all industries the median is $180,000.
- Which lenders are most active in iron and steel mills and ferroalloy manufacturing?
- By dollars approved: Celtic Bank Corporation, KeyBank, Old National Bank, Alloy Development Co., Inc., U.S. 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 iron and steel mills and ferroalloy manufacturing considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 11.1% 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.
We are a publisher, not a lender or broker. We never take applications and are never paid by borrowers. Read the full disclosures.