How much do SBA lenders typically lend to a portfolio management business?

The median SBA approval in NAICS 523920 is $225,500, with the middle 80% of loans between $24,000 and $1,285,000. Across all industries the median is $180,000.

Which lenders are most active in portfolio management?

By dollars approved: Wells Fargo Bank, Live Oak Banking Company, Banc of California, U.S. Bank, Pathward. 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 portfolio management considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 3.3% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

NAICS 523920 · Finance & Insurance

SBA loans for portfolio management

392 SBA loans worth $189.9M have been approved in this industry since FY2010 - the #385 most-financed NAICS code in the country.

Median loan

$225,500

+25% vs all industries

Typical range

$24K-$1.3M

Middle 80%

Median rate

6.00%

7(a) initial note rate

Median term

10 yr

Charge-off rate

3.3%

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
Wells Fargo Bank	23	$10.9M
Live Oak Banking Company	13	$8.4M
Banc of California	9	$8.2M
U.S. Bank	32	$8.0M
Pathward	5	$7.7M
Byline Bank	5	$7.3M
The Huntington National Bank	35	$6.9M
Manufacturers and Traders Trust Company	16	$6.3M
Truist Bank	2	$6.1M
CNB St. Louis Bank	1	$4.6M

Geography

Where these loans were made

State	Loans	Share
California	45
Ohio	35
New York	22
Florida	21
Minnesota	19
Texas	17
Washington	16
Massachusetts	15

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

’21

’22

’23

’24

’25

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
21%
$50K - $150K
18%
$150K - $350K
23%
$350K - $1M
25%
$1M - $2M
8%
Over $2M
5%

Nearby

Other finance & insurance industries

See the sector

Insurance Agencies and Brokerages10,623 · $171,000 Investment Advice2,974 · $264,500 Portfolio Management and Investment Advice737 · $250,000 Mortgage and Nonmortgage Loan Brokers493 · $182,000 Miscellaneous Financial Investment Activities411 · $187,500 All Other Insurance Related Activities401 · $100,000 Financial Transactions Processing, Reserve, and Clearinghouse Activities280 · $250,000 Claims Adjusting254 · $110,500

Common questions

How much do SBA lenders typically lend to a portfolio management business?: The median SBA approval in NAICS 523920 is $225,500, with the middle 80% of loans between $24,000 and $1,285,000. Across all industries the median is $180,000.
Which lenders are most active in portfolio management?: By dollars approved: Wells Fargo Bank, Live Oak Banking Company, Banc of California, U.S. Bank, Pathward. 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 portfolio management considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 3.3% 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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