How much do SBA lenders typically lend to a investment advice business?

The median SBA approval in NAICS 523930 is $264,500, with the middle 80% of loans between $30,000 and $1,321,500. Across all industries the median is $180,000.

Which lenders are most active in investment advice?

By dollars approved: Live Oak Banking Company, Byline Bank, Wells Fargo Bank, U.S. Bank, First State Bank Nebraska. 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 investment advice considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 1.8% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

NAICS 523930 · Finance & Insurance

SBA loans for investment advice

2,974 SBA loans worth $1.57B have been approved in this industry since FY2010 - the #80 most-financed NAICS code in the country.

Median loan

$264,500

+47% vs all industries

Typical range

$30K-$1.3M

Middle 80%

Median rate

6.00%

7(a) initial note rate

Median term

10 yr

Charge-off rate

1.8%

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
Live Oak Banking Company	1,071	$823.9M
Byline Bank	214	$217.3M
Wells Fargo Bank	109	$48.6M
U.S. Bank	105	$21.5M
First State Bank Nebraska	32	$18.8M
Pathward	16	$13.3M
Capital Access Group, Inc.	8	$12.8M
JPMorgan Chase Bank	85	$10.3M
B:Side Capital	18	$9.9M
Mortgage Capital Development Corporation	16	$9.8M

Geography

Where these loans were made

State	Loans	Share
California	433
Florida	172
New York	172
Texas	148
Ohio	142
Massachusetts	124
Illinois	113
Minnesota	110

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 $50K
13%
$50K - $150K
19%
$150K - $350K
26%
$350K - $1M
27%
$1M - $2M
9%
Over $2M
5%

Nearby

Other finance & insurance industries

See the sector

Insurance Agencies and Brokerages10,623 · $171,000 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 Portfolio Management392 · $225,500 Financial Transactions Processing, Reserve, and Clearinghouse Activities280 · $250,000 Claims Adjusting254 · $110,500

Common questions

How much do SBA lenders typically lend to a investment advice business?: The median SBA approval in NAICS 523930 is $264,500, with the middle 80% of loans between $30,000 and $1,321,500. Across all industries the median is $180,000.
Which lenders are most active in investment advice?: By dollars approved: Live Oak Banking Company, Byline Bank, Wells Fargo Bank, U.S. Bank, First State Bank Nebraska. 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 investment advice considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 1.8% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

We are a publisher, not a lender or broker. We never take applications and are never paid by borrowers. Read the full disclosures.