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NAICS 623312 · Health Care
SBA loans for assisted living facilities for the elderly
3,629 SBA loans worth $4.03B have been approved in this industry since FY2010 - the #65 most-financed NAICS code in the country.
Median loan
$700,000
+289% vs all industries
Typical range
$100K-$2.8M
Middle 80%
Median rate
6.25%
7(a) initial note rate
Median term
25 yr
Charge-off rate
2.4%
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 |
|---|---|---|---|
| Live Oak Banking Company | 183 | $348.0M | |
| Celtic Bank Corporation | 150 | $228.2M | |
| Pinnacle Bank | 176 | $197.5M | |
| Columbia Bank | 163 | $156.4M | |
| Wells Fargo Bank | 188 | $113.4M | |
| Florida First Capital Finance Corporation, Inc. | 45 | $97.0M | |
| Bank Five Nine | 83 | $90.7M | |
| Harvest Small Business Finance, LLC | 53 | $67.7M | |
| America First Federal Credit Union | 40 | $59.9M | |
| Mortgage Capital Development Corporation | 39 | $57.6M |
Geography
Where these loans were made
| State | Loans | Share |
|---|---|---|
| California | 725 | |
| Florida | 370 | |
| Washington | 276 | |
| Arizona | 246 | |
| Texas | 213 | |
| Wisconsin | 178 | |
| Michigan | 153 | |
| Minnesota | 148 |
An SBA 7(a) lender for loans this size
28% of the SBA loans approved in assisted living facilities for the elderly since FY2010 were under $350,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
Approvals by fiscal year
Loan count. Final bar is a partial fiscal year.
Loan sizes
- Under $50K4%
- $50K - $150K9%
- $150K - $350K14%
- $350K - $1M36%
- $1M - $2M20%
- Over $2M17%
Franchise brands in Assisted Living Facilities for the Elderly
| Franchise brand | Loans | Approved | Share |
|---|---|---|---|
| Bee Hive Homes | 98 | $181.5M | |
| Bee Hive Homes of America | 18 | $11.4M | |
| Visiting Angels | 5 | $2.5M | |
| Right at Home | 4 | $893K | |
| Home Instead | 2 | $869K | |
| BrightStar Care | 2 | $1.9M | |
| Assisted Living Locators | 2 | $3.7M | |
| CarePatrol | 1 | $71K | |
| Senior Helpers | 1 | $150K | |
| A Better Solution In Home Care | 1 | $150K |
Brands with the most SBA loans recorded under this NAICS code, among brands with at least 10 loans in the file.
Nearby
Other health care industries
Common questions
- How much do SBA lenders typically lend to a assisted living facilities for the elderly business?
- The median SBA approval in NAICS 623312 is $700,000, with the middle 80% of loans between $100,000 and $2,844,000. Across all industries the median is $180,000.
- Which lenders are most active in assisted living facilities for the elderly?
- By dollars approved: Live Oak Banking Company, Celtic Bank Corporation, Pinnacle Bank, Columbia Bank, Wells Fargo 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 assisted living facilities for the elderly considered a risky industry by SBA lenders?
- Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 2.4% 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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