STATE GUIDE
Independent third-party feasibility studies for SBA 7(a) and SBA 504 projects across New York, prepared to SOP 50 10 8 standards for lenders, CDCs, and SBA review.
#4
National rank, SBA dollar volume
84.1%
NYC hotel occupancy, 2025
$280.71
NYC hotel RevPAR, 2025
491
New York 7(a) loans, Q1 2026
$587,863
Average New York 7(a) loan, Q1 2026
284
Full-service restaurant SBA loans, trailing year
#3
New York metro self-storage construction rank, 2025
$10M
Combined 7(a) and 504 cap from July 4, 2026
New York is the fourth-largest SBA market in the country: the SBA's own analysis of the late 2025 shutdown put the state's blocked volume at roughly $40 million and 106 loans per week, behind only California, Texas, and Florida. The average ticket is climbing fast, with 491 loans averaging $587,863 in the first quarter of 2026, and the industry mix is restaurant-led: full-service restaurants top the state's SBA volume by count, with fitness centers, limited-service restaurants, and personal services close behind.
The named program record runs through Pursuit, the Albany-based lender formerly known as the New York Business Development Corporation: New York Beer Project's two Western New York locations financed with M&T Bank, the Brewery Ardennes historic barn project on Seneca Lake, a 504 refinance across the American Beech boutique hotel portfolio, and the SHADEES building purchase in Riverhead with 10 percent down.
Under SOP 50 10 8, special-purpose properties such as hotels, car washes, gas stations, self-storage, RV parks, and marinas normally require a third-party feasibility study, and projection-based deals carry the same expectation. The SBA serves New York through two districts: Metro New York at 26 Federal Plaza in Manhattan with an office in Hauppauge, covering 14 downstate counties, and Buffalo at 130 South Elmwood Avenue with a Rochester office, covering the 14 westernmost counties.
Across FY2010–FY2026, New York generated 52,154 SBA-disbursed 7(a) and 504 loans across all industries — $17.51 billion in approved financing at an average of $336,000 per deal. The 7(a) share of the count stands at 94.3%, with 504 covering the remainder. Since FY2024, 8,891 loans have been approved.
Among the 36,978 seasoned loans in New York (approvals FY2010–FY2021), 10.1% reached adverse resolution — purchased, liquidated, or charged off — compared with 7.3% nationally. That performance runs above the national all-industry benchmark, which lenders weigh in underwriting. The state's most active SBA asset classes by loan count are restaurant, manufacturing, and medical or dental practice.
| Asset class | Loans FY2010–FY2026 | Approved volume | Average loan | Seasoned adverse rate |
|---|---|---|---|---|
| Restaurant | 4,922 | $1.62 billion | $330,000 | 12.6% |
| Manufacturing | 3,277 | $1.41 billion | $430,000 | 8.6% |
| Medical or dental practice | 1,723 | $757.8 million | $440,000 | 4.4% |
| Trucking and logistics | 1,117 | $235.2 million | $211,000 | 13.2% |
| Liquor store | 796 | $301.7 million | $379,000 | 4.4% |
| Fitness center | 747 | $282.7 million | $378,000 | 12.4% |
| Childcare center | 548 | $239.6 million | $437,000 | 10.2% |
| Hotel | 543 | $1.07 billion | $2.0 million | 9.9% |
| Gas station and c-store | 408 | $131.6 million | $322,000 | 10.7% |
| Event venue | 362 | $86.5 million | $239,000 | – |
| Brewery, distillery, or winery | 339 | $121.7 million | $359,000 | 6.1% |
| Laundromat | 277 | $157.3 million | $568,000 | 5.2% |
| Veterinary clinic | 229 | $179.6 million | $784,000 | 0.5% |
| Car wash | 136 | $126.1 million | $927,000 | 6.7% |
| Self-storage | 79 | $78.6 million | $995,000 | 0.0% |
| RV park | 58 | $35.0 million | $604,000 | 6.7% |
| Marina or boat storage | 32 | $17.9 million | $560,000 | – |
| Assisted living | 25 | $16.4 million | $658,000 | – |
– State-level rate not published where the seasoned cohort is under 30 loans; national benchmarks apply. Details in our data methodology.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only.
New York's 52,154 disbursed SBA loans and $17.51 billion in approved capital give lenders here a deep track record to underwrite against — which means projections in a feasibility study are read against a real local comp set, not a national average alone. For structuring, most owner-occupied real estate deals will map to SBA 7(a), while owner-occupied real estate and heavy equipment typically fit SBA 504. A rigorous third-party feasibility study is what turns those local numbers into a defensible credit narrative for the lender's underwriter and credit committee.
State loss experience
Mature-cohort SBA 7(a) loans in New York charged off at 7.79 percent by count and 3.80 percent by dollar, against national baselines of 6.44 and 2.92 percent. See the full 50-state analysis.
SBA 7(a) and 504 lending data for the five largest SBA-lending metropolitan areas in New York.
INDUSTRY SPOTLIGHT
New York City closed 2025 as the strongest hotel market in America: per CoStar it led all top-25 markets in every key metric, with 84.1 percent occupancy, a $333.71 average daily rate, and $280.71 in revenue per available room, ADR and RevPAR up 4.7 and 4.5 percent, and it tops the national guestroom construction pipeline for 2026, with World Cup matches at MetLife Stadium adding metro demand. Manhattan's first half ran 82.3 percent occupancy at a $310.51 ADR, with luxury RevPAR up 10.1 percent.
At SBA scale, New York lodging means boutique and upstate: the programs' $5 million ceilings, rising to a $10 million combined structure from July 4, 2026, fit independent inns, boutique conversions, and Finger Lakes hospitality rather than flagged towers, and Pursuit's refinance across the American Beech boutique portfolio is the documented template. For feasibility work the implication is comp-set discipline: a boutique projection defended against the wrong comparable set is the most common New York hotel study failure, and seasonality analysis diverges sharply between compressed downstate demand and upstate leisure curves.
84.1%
NYC hotel occupancy, 2025
$333.71
NYC average daily rate, 2025
$280.71
NYC RevPAR, 2025
#1
NYC guestroom construction pipeline rank, 2026
NAICS NAICS 7211 family
NAICS 721211
NAICS NAICS 7225 family
NAICS No dedicated NAICS; 812990 proxy segment
NAICS 811192
NAICS NAICS 447 and 457 families
NAICS 531130
NAICS 624410
NAICS NAICS 6233 family
NAICS NAICS 6211, 6212
NAICS 541940
NAICS 713940
NAICS 812310
NAICS NAICS 445310, 445320
NAICS NAICS 484, 4885, 4931 families
NAICS 31-33
NAICS 3121
NAICS 713930
The SBA serves New York through two district offices: Metro New York at 26 Federal Plaza, Suite 3100, in Manhattan, with an additional office in Hauppauge, covering the 14 downstate counties, and Buffalo at 130 South Elmwood Avenue, Suite 540, with a Rochester office at 100 State Street, covering the 14 westernmost counties, supported by one of the largest Small Business Development Center networks in the country.
SBA lending has no geographic eligibility test, so New York feasibility work follows two distinct economies: the downstate market of New York City, Long Island, and the lower Hudson Valley carries the deepest volume in restaurants, fitness, and personal services, while Western New York and the Finger Lakes run on community lenders and a brewery and hospitality cluster. Credible projections respect the split: downstate models defend against compression-driven comparables, upstate models against leisure seasonality.
TD Bank leads New York 7(a) lending with 1,080 loans over the trailing year averaging $127,050, followed by Buffalo-headquartered M&T Bank with 864, ReadyCap with 417 averaging $349,437, and JPMorgan Chase with 414, with Northeast Bank, Lendistry, BayFirst, Newtek, KeyBank, Rochester-based ESL Federal Credit Union at the lowest average rates near 8.9 percent, Huntington averaging $502,034, Celtic Bank, and Live Oak averaging $1.12 million rounding out the table. Borrowers should weigh the oversight climate carefully here: ReadyCap, the state's third-largest 7(a) lender by count, and Celtic Bank were both among the ten lenders USDA revoked from its own programs in May 2026, and a June 2026 Senate letter asked the SBA to review their records; no SBA action has been announced, and the practical step is to confirm any lender's current preferred status and recent activity before committing a deal to it.
Pursuit, the Albany-based organization formerly known as the New York Business Development Corporation and SBA-registered as Empire State Certified Development Corporation, anchors the state's 504 market with roughly seven decades of history and lending from $10,000 to $5.5 million across New York and four neighboring states, with TruFund and credit union partners adding depth. The CDC underwrites the debenture, addresses special-purpose status in its credit memorandum, and carries the package through SBA processing.
For loans in fiscal 2026 under SOP 50 10 8, effective June 1, 2025 and amended March 1, 2026: 7(a) loans run to $5 million with an 85 percent guaranty up to $150,000 and 75 percent above, statutory fees restored, and a 0.55 percent annual service fee, with fees waived for small manufacturers on loans up to $950,000. 504 debentures run to $5 million, or $5.5 million for manufacturers and energy projects, on the 50/40/10 structure, with manufacturer fees waived and other 504 loans at a 0.50 percent upfront fee and 0.209 percent annual fee. Equity injection follows the 10/15/20 ladder, and from July 4, 2026 eligible borrowers can combine programs for up to $10 million. New York stacking: state SSBCI programs administered through Empire State Development, the New York Forward Loan Fund, and statewide C-PACE for energy components.
Lenders and Certified Development Companies in New York do not need a business plan writer, they need an independent SBA feasibility study consultant whose conclusions survive credit committee. Our feasibility study company prepares signed, sourced studies to SOP 50 10 8 standards, with the analyst and reviewer named on the report.
Every New York engagement is calibrated to the program the file routes through: 7(a), 504 or Express. See when SBA requires a feasibility study, cost and turnaround, projections and DSCR testing and the methodology behind each New York study. Lenders and CDCs can start at for lenders or the CDC compliance guide.
About the firm and the analyst signing New York work: David Jones, MAI, CCIM, over 4,300 feasibility studies completed.
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
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