This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
Counties receiving the most SBA loans in New York
The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.
Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.
Flippa found the county in New York where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA's most common loan program, known as 7(a) loans. SBA's 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.
Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don't qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.
In a national analysis of the #1 ranked counties in every state, all but two counties had populations of less than 500,000—most smaller than 100,000. That's not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.
Read on to see whether your county ranks among those receiving the most SBA loans.
#50. Montgomery County
- SBA approved about $11.43 per resident in 7(a) loans in 2023.
- Total approved funds: $566,300
- Number of loans: 3
#49. Otsego County
- SBA approved about $11.70 per resident in 7(a) loans in 2023.
- Total approved funds: $690,000
- Number of loans: 5
#48. Chemung County
- SBA approved about $12.28 per resident in 7(a) loans in 2023.
- Total approved funds: $1.0 million
- Number of loans: 11
#47. Allegany County
- SBA approved about $12.62 per resident in 7(a) loans in 2023.
- Total approved funds: $588,900
- Number of loans: 9
#46. Niagara County
- SBA approved about $14.28 per resident in 7(a) loans in 2023.
- Total approved funds: $3.0 million
- Number of loans: 25
#45. Franklin County
- SBA approved about $15.90 per resident in 7(a) loans in 2023.
- Total approved funds: $763,000
- Number of loans: 2
#44. Schenectady County
- SBA approved about $15.96 per resident in 7(a) loans in 2023.
- Total approved funds: $2.5 million
- Number of loans: 14
#43. Bronx
- SBA approved about $16.28 per resident in 7(a) loans in 2023.
- Total approved funds: $23.9 million
- Number of loans: 107
#42. Cattaraugus County
- SBA approved about $21.65 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 21
#41. Steuben County
- SBA approved about $23.42 per resident in 7(a) loans in 2023.
- Total approved funds: $2.2 million
- Number of loans: 15
#40. Fulton County
- SBA approved about $23.99 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 5
#39. Yates County
- SBA approved about $25.17 per resident in 7(a) loans in 2023.
- Total approved funds: $624,400
- Number of loans: 4
#38. Tompkins County
- SBA approved about $26.43 per resident in 7(a) loans in 2023.
- Total approved funds: $2.8 million
- Number of loans: 4
#37. Rensselaer County
- SBA approved about $27.69 per resident in 7(a) loans in 2023.
- Total approved funds: $4.5 million
- Number of loans: 16
#36. Wyoming County
- SBA approved about $33.03 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 20
#35. Putnam County
- SBA approved about $34.62 per resident in 7(a) loans in 2023.
- Total approved funds: $3.4 million
- Number of loans: 21
#34. Queens
- SBA approved about $35.43 per resident in 7(a) loans in 2023.
- Total approved funds: $84.8 million
- Number of loans: 360
#33. Schuyler County
- SBA approved about $36.41 per resident in 7(a) loans in 2023.
- Total approved funds: $652,500
- Number of loans: 2
#32. Oneida County
- SBA approved about $38.90 per resident in 7(a) loans in 2023.
- Total approved funds: $9.0 million
- Number of loans: 35
#31. Ontario County
- SBA approved about $40.19 per resident in 7(a) loans in 2023.
- Total approved funds: $4.5 million
- Number of loans: 20
#30. Broome County
- SBA approved about $41.47 per resident in 7(a) loans in 2023.
- Total approved funds: $8.2 million
- Number of loans: 17
#29. Erie County
- SBA approved about $42.75 per resident in 7(a) loans in 2023.
- Total approved funds: $40.6 million
- Number of loans: 187
#28. Saratoga County
- SBA approved about $43.92 per resident in 7(a) loans in 2023.
- Total approved funds: $10.3 million
- Number of loans: 49
#27. Greene County
- SBA approved about $44.43 per resident in 7(a) loans in 2023.
- Total approved funds: $2.1 million
- Number of loans: 12
#26. Chautauqua County
- SBA approved about $50.02 per resident in 7(a) loans in 2023.
- Total approved funds: $6.4 million
- Number of loans: 12
#25. Richmond County
- SBA approved about $52.63 per resident in 7(a) loans in 2023.
- Total approved funds: $26.0 million
- Number of loans: 79
#24. Jefferson County
- SBA approved about $53.19 per resident in 7(a) loans in 2023.
- Total approved funds: $6.3 million
- Number of loans: 9
#23. Onondaga County
- SBA approved about $53.75 per resident in 7(a) loans in 2023.
- Total approved funds: $25.5 million
- Number of loans: 70
#22. Ulster County
- SBA approved about $56.13 per resident in 7(a) loans in 2023.
- Total approved funds: $10.2 million
- Number of loans: 21
#21. Columbia County
- SBA approved about $57.75 per resident in 7(a) loans in 2023.
- Total approved funds: $3.6 million
- Number of loans: 11
#20. Dutchess County
- SBA approved about $59.53 per resident in 7(a) loans in 2023.
- Total approved funds: $17.6 million
- Number of loans: 41
#19. Monroe County
- SBA approved about $59.65 per resident in 7(a) loans in 2023.
- Total approved funds: $45.2 million
- Number of loans: 154
#18. Kings County
- SBA approved about $61.56 per resident in 7(a) loans in 2023.
- Total approved funds: $167.0 million
- Number of loans: 618
#17. Westchester County
- SBA approved about $69.91 per resident in 7(a) loans in 2023.
- Total approved funds: $69.9 million
- Number of loans: 187
#16. Herkimer County
- SBA approved about $70.80 per resident in 7(a) loans in 2023.
- Total approved funds: $4.3 million
- Number of loans: 10
#15. Cortland County
- SBA approved about $72.79 per resident in 7(a) loans in 2023.
- Total approved funds: $3.4 million
- Number of loans: 8
#14. Schoharie County
- SBA approved about $80.67 per resident in 7(a) loans in 2023.
- Total approved funds: $2.4 million
- Number of loans: 3
#13. Genesee County
- SBA approved about $81.66 per resident in 7(a) loans in 2023.
- Total approved funds: $4.8 million
- Number of loans: 17
#12. Madison County
- SBA approved about $88.43 per resident in 7(a) loans in 2023.
- Total approved funds: $6.1 million
- Number of loans: 10
#11. Suffolk County
- SBA approved about $89.85 per resident in 7(a) loans in 2023.
- Total approved funds: $136.8 million
- Number of loans: 437
#10. Warren County
- SBA approved about $90.52 per resident in 7(a) loans in 2023.
- Total approved funds: $5.9 million
- Number of loans: 29
#9. Washington County
- SBA approved about $91.08 per resident in 7(a) loans in 2023.
- Total approved funds: $5.6 million
- Number of loans: 10
#8. Albany County
- SBA approved about $101.21 per resident in 7(a) loans in 2023.
- Total approved funds: $31.8 million
- Number of loans: 54
#7. Nassau County
- SBA approved about $102.18 per resident in 7(a) loans in 2023.
- Total approved funds: $142.2 million
- Number of loans: 408
#6. Orange County
- SBA approved about $103.36 per resident in 7(a) loans in 2023.
- Total approved funds: $41.2 million
- Number of loans: 150
#5. New York County
- SBA approved about $107.86 per resident in 7(a) loans in 2023.
- Total approved funds: $180.0 million
- Number of loans: 451
#4. Livingston County
- SBA approved about $143.19 per resident in 7(a) loans in 2023.
- Total approved funds: $8.9 million
- Number of loans: 15
#3. Rockland County
- SBA approved about $183.04 per resident in 7(a) loans in 2023.
- Total approved funds: $61.6 million
- Number of loans: 241
#2. Sullivan County
- SBA approved about $277.57 per resident in 7(a) loans in 2023.
- Total approved funds: $21.7 million
- Number of loans: 28
#1. Essex County
- SBA approved about $306.00 per resident in 7(a) loans in 2023.
- Total approved funds: $11.5 million
- Number of loans: 8
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
