The SBA guaranteed 84,400 loans totaling $44.8 billion — the most capital ever delivered to small businesses in a single fiscal year, including 77,600 seven(a) loans worth $37 billion.
The Federal Reserve's 2026 Small Business Credit Survey found 60% of firms sought financing last year. Operating expenses and expansion opportunities were the top reasons. Expectations for future growth, however, declined.
The SBA's new Manufacturers' Access to Revolving Credit program has already deployed $3.5M to four manufacturers. It's the first SBA loan designed specifically for NAICS 31-33 businesses with minimal red tape.
Equifax's lending trend analysis shows activity softened as owners prioritized stability. However, falling interest rates and improving credit quality are pointing toward a meaningful rebound in early 2026.
The Treasury's policy brief found fintech lenders have grown from near-zero market share post-2008 to 28% of new originations — driven by speed, technology, and willingness to approve where traditional banks decline.
The Fed's Small Business Credit Survey found rising costs of goods, services, and wages remain the dominant challenge, with 56% also citing operating expense pressure and 51% citing uneven cash flows.