Movement over time

One lender's standard changed. The rest held.

Charge-off rate by single origination year, FY2015–FY2020.

Loan size explains the differences between lenders. It does not explain a lender moving against its own history. TD Bank began the period underwriting better than the market and ended it at more than three times the national rate, while the national rate was falling.

5.51% → 17.69%TD Bank, FY2015 to FY2019 originations

6.65% → 4.60%Huntington across the same years

FY2017the year the divergence begins

Source: Analysis of SBA 7(a) FOIA loan-level data (as of 31 March 2026). Charge-off rates computed on seasoned FY2015–FY2019 originations; volume on FY2021–FY2025. Cancelled approvals excluded. Lender names as reported, not consolidated across corporate families. Published by sba-feasibility-study.com.