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.

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
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

Approvals by fiscal year

’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
13%
$50K - $150K
21%
$150K - $350K
22%
$350K - $1M
27%
$1M - $2M
6%
Over $2M
11%

Nearby

Other manufacturing industries

See the sector

Machine Shops4,240 · $300,000 All Other Miscellaneous Fabricated Metal Product Manufacturing2,607 · $360,100 All Other Miscellaneous Manufacturing2,510 · $313,000 Sign Manufacturing1,908 · $200,000 Wood Kitchen Cabinet and Countertop Manufacturing1,512 · $249,350 Fabricated Structural Metal Manufacturing1,082 · $350,000 Sheet Metal Work Manufacturing806 · $385,950 Dental Laboratories752 · $146,350

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.

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