NAICS 423940 · Wholesale
SBA loans for jewelry, watch, precious stone, and precious metal merchant wholesalers
1,037 SBA loans worth $448.2M have been approved in this industry since FY2010 - the #199 most-financed NAICS code in the country.
Median loan
$150,000
-17% vs all industries
Typical range
$20K-$1.1M
Middle 80%
Median rate
7.50%
7(a) initial note rate
Median term
10 yr
Charge-off rate
11.0%
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 |
|---|---|---|---|
| Wells Fargo Bank | 82 | $30.8M | |
| Empire State Certified Development Corporation | 12 | $20.5M | |
| U.S. Bank | 35 | $17.6M | |
| Bank of Hope | 26 | $14.1M | |
| FinWise Bank | 5 | $12.1M | |
| Truist Bank | 9 | $12.1M | |
| Wallis Bank | 13 | $12.1M | |
| Cross River Bank | 7 | $11.9M | |
| Northwest Bank | 5 | $11.1M | |
| JPMorgan Chase Bank | 72 | $9.9M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| New York | 231 | |
| California | 192 | |
| Florida | 98 | |
| Texas | 69 | |
| New Jersey | 61 | |
| Illinois | 35 | |
| Massachusetts | 28 | |
| Georgia | 25 |
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 $50K21%
- $50K - $150K28%
- $150K - $350K23%
- $350K - $1M17%
- $1M - $2M7%
- Over $2M5%
Nearby
Other wholesale industries
Other Miscellaneous Durable Goods Merchant Wholesalers4,432 · $296,000Other Miscellaneous Nondurable Goods Merchant Wholesalers3,598 · $270,000Other Grocery and Related Products Merchant Wholesalers2,289 · $150,000Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers1,953 · $150,000Industrial Machinery and Equipment Merchant Wholesalers1,918 · $300,000Sporting and Recreational Goods and Supplies Merchant Wholesalers1,706 · $191,750Wholesale Trade Agents and Brokers1,547 · $180,000Recyclable Material Merchant Wholesalers1,450 · $350,000
Common questions
- How much do SBA lenders typically lend to a jewelry, watch, precious stone, and precious metal merchant wholesalers business?
- The median SBA approval in NAICS 423940 is $150,000, with the middle 80% of loans between $20,000 and $1,055,000. Across all industries the median is $180,000.
- Which lenders are most active in jewelry, watch, precious stone, and precious metal merchant wholesalers?
- By dollars approved: Wells Fargo Bank, Empire State Certified Development Corporation, U.S. Bank, Bank of Hope, FinWise 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 jewelry, watch, precious stone, and precious metal merchant wholesalers considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 11.0% 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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