NAICS 332111 · Manufacturing
SBA loans for iron and steel forging
193 SBA loans worth $157.5M have been approved in this industry since FY2010 - the #549 most-financed NAICS code in the country.
Median loan
$414,000
+130% vs all industries
Typical range
$50K-$2.2M
Middle 80%
Median rate
6.00%
7(a) initial note rate
Median term
10 yr
Charge-off rate
5.1%
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 |
|---|---|---|---|
| The Huntington National Bank | 23 | $11.4M | |
| CDC Small Business Finance Corp. | 5 | $9.8M | |
| Byline Bank | 8 | $8.6M | |
| U.S. Bank | 4 | $8.4M | |
| Small Business Growth Corporation | 8 | $7.7M | |
| MidFirst Bank | 3 | $6.8M | |
| WBD, Inc. | 3 | $5.9M | |
| TransPecos Banks | 3 | $5.3M | |
| FDIC - Community Bank & Trust-West Georgia | 3 | $5.1M | |
| Pinnacle Bank | 1 | $5.0M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| Ohio | 24 | |
| California | 21 | |
| Illinois | 19 | |
| Michigan | 19 | |
| Texas | 12 | |
| Pennsylvania | 11 | |
| Indiana | 10 | |
| Wisconsin | 7 |
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 $50K9%
- $50K - $150K19%
- $150K - $350K19%
- $350K - $1M26%
- $1M - $2M15%
- Over $2M12%
Nearby
Other manufacturing industries
Machine Shops4,240 · $300,000All Other Miscellaneous Fabricated Metal Product Manufacturing2,607 · $360,100All Other Miscellaneous Manufacturing2,510 · $313,000Sign Manufacturing1,908 · $200,000Wood Kitchen Cabinet and Countertop Manufacturing1,512 · $249,350Fabricated Structural Metal Manufacturing1,082 · $350,000Sheet Metal Work Manufacturing806 · $385,950Dental Laboratories752 · $146,350
Common questions
- How much do SBA lenders typically lend to a iron and steel forging business?
- The median SBA approval in NAICS 332111 is $414,000, with the middle 80% of loans between $50,000 and $2,160,000. Across all industries the median is $180,000.
- Which lenders are most active in iron and steel forging?
- By dollars approved: The Huntington National Bank, CDC Small Business Finance Corp., Byline Bank, U.S. Bank, Small Business Growth 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 iron and steel forging considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 5.1% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.
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