This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
Counties receiving the most SBA loans in Kentucky
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 Kentucky 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. Franklin County
- SBA approved about $2.92 per resident in 7(a) loans in 2023.
- Total approved funds: $150,000
- Number of loans: 1
#49. Letcher County
- SBA approved about $3.90 per resident in 7(a) loans in 2023.
- Total approved funds: $85,000
- Number of loans: 1
#48. McCracken County
- SBA approved about $6.25 per resident in 7(a) loans in 2023.
- Total approved funds: $421,400
- Number of loans: 2
#47. Mercer County
- SBA approved about $7.15 per resident in 7(a) loans in 2023.
- Total approved funds: $160,700
- Number of loans: 3
#46. Pike County
- SBA approved about $7.65 per resident in 7(a) loans in 2023.
- Total approved funds: $450,400
- Number of loans: 5
#45. Woodford County
- SBA approved about $9.56 per resident in 7(a) loans in 2023.
- Total approved funds: $255,700
- Number of loans: 5
#44. Lee County
- SBA approved about $10.33 per resident in 7(a) loans in 2023.
- Total approved funds: $75,000
- Number of loans: 1
#43. Anderson County
- SBA approved about $10.78 per resident in 7(a) loans in 2023.
- Total approved funds: $254,900
- Number of loans: 2
#42. Laurel County
- SBA approved about $11.84 per resident in 7(a) loans in 2023.
- Total approved funds: $735,000
- Number of loans: 4
#41. Powell County
- SBA approved about $12.00 per resident in 7(a) loans in 2023.
- Total approved funds: $156,600
- Number of loans: 1
#40. Hardin County
- SBA approved about $14.67 per resident in 7(a) loans in 2023.
- Total approved funds: $1.6 million
- Number of loans: 4
#39. Floyd County
- SBA approved about $16.44 per resident in 7(a) loans in 2023.
- Total approved funds: $594,000
- Number of loans: 4
#38. Edmonson County
- SBA approved about $17.26 per resident in 7(a) loans in 2023.
- Total approved funds: $210,000
- Number of loans: 2
#37. Clark County
- SBA approved about $19.08 per resident in 7(a) loans in 2023.
- Total approved funds: $700,600
- Number of loans: 7
#36. Warren County
- SBA approved about $21.93 per resident in 7(a) loans in 2023.
- Total approved funds: $2.9 million
- Number of loans: 11
#35. Montgomery County
- SBA approved about $27.64 per resident in 7(a) loans in 2023.
- Total approved funds: $776,200
- Number of loans: 5
#34. Christian County
- SBA approved about $32.15 per resident in 7(a) loans in 2023.
- Total approved funds: $2.3 million
- Number of loans: 5
#33. Caldwell County
- SBA approved about $34.68 per resident in 7(a) loans in 2023.
- Total approved funds: $438,400
- Number of loans: 2
#32. Henderson County
- SBA approved about $35.50 per resident in 7(a) loans in 2023.
- Total approved funds: $1.6 million
- Number of loans: 6
#31. Bullitt County
- SBA approved about $41.63 per resident in 7(a) loans in 2023.
- Total approved funds: $3.4 million
- Number of loans: 4
#30. Fayette County
- SBA approved about $42.88 per resident in 7(a) loans in 2023.
- Total approved funds: $13.8 million
- Number of loans: 43
#29. Boone County
- SBA approved about $45.68 per resident in 7(a) loans in 2023.
- Total approved funds: $6.1 million
- Number of loans: 19
#28. Calloway County
- SBA approved about $45.99 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 5
#27. Greenup County
- SBA approved about $47.92 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 2
#26. Marion County
- SBA approved about $47.95 per resident in 7(a) loans in 2023.
- Total approved funds: $937,800
- Number of loans: 2
#25. Boyd County
- SBA approved about $48.26 per resident in 7(a) loans in 2023.
- Total approved funds: $2.3 million
- Number of loans: 5
#24. Scott County
- SBA approved about $49.03 per resident in 7(a) loans in 2023.
- Total approved funds: $2.8 million
- Number of loans: 8
#23. Kenton County
- SBA approved about $49.97 per resident in 7(a) loans in 2023.
- Total approved funds: $8.4 million
- Number of loans: 39
#22. Bourbon County
- SBA approved about $50.84 per resident in 7(a) loans in 2023.
- Total approved funds: $1.0 million
- Number of loans: 1
#21. Marshall County
- SBA approved about $63.86 per resident in 7(a) loans in 2023.
- Total approved funds: $2.0 million
- Number of loans: 3
#20. Jessamine County
- SBA approved about $66.75 per resident in 7(a) loans in 2023.
- Total approved funds: $3.5 million
- Number of loans: 9
#19. Nelson County
- SBA approved about $73.75 per resident in 7(a) loans in 2023.
- Total approved funds: $3.4 million
- Number of loans: 4
#18. Madison County
- SBA approved about $74.86 per resident in 7(a) loans in 2023.
- Total approved funds: $6.9 million
- Number of loans: 8
#17. Daviess County
- SBA approved about $76.21 per resident in 7(a) loans in 2023.
- Total approved funds: $7.8 million
- Number of loans: 14
#16. Campbell County
- SBA approved about $78.25 per resident in 7(a) loans in 2023.
- Total approved funds: $7.3 million
- Number of loans: 21
#15. Oldham County
- SBA approved about $78.56 per resident in 7(a) loans in 2023.
- Total approved funds: $5.3 million
- Number of loans: 13
#14. Jefferson County
- SBA approved about $78.68 per resident in 7(a) loans in 2023.
- Total approved funds: $61.4 million
- Number of loans: 122
#13. Owsley County
- SBA approved about $85.49 per resident in 7(a) loans in 2023.
- Total approved funds: $350,000
- Number of loans: 1
#12. Whitley County
- SBA approved about $89.48 per resident in 7(a) loans in 2023.
- Total approved funds: $3.3 million
- Number of loans: 3
#11. Harrison County
- SBA approved about $106.14 per resident in 7(a) loans in 2023.
- Total approved funds: $2.0 million
- Number of loans: 2
#10. Henry County
- SBA approved about $113.80 per resident in 7(a) loans in 2023.
- Total approved funds: $1.8 million
- Number of loans: 4
#9. Bath County
- SBA approved about $116.89 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 1
#8. Shelby County
- SBA approved about $145.99 per resident in 7(a) loans in 2023.
- Total approved funds: $6.9 million
- Number of loans: 13
#7. Taylor County
- SBA approved about $154.15 per resident in 7(a) loans in 2023.
- Total approved funds: $4.0 million
- Number of loans: 1
#6. Clinton County
- SBA approved about $157.38 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 1
#5. Simpson County
- SBA approved about $180.10 per resident in 7(a) loans in 2023.
- Total approved funds: $3.5 million
- Number of loans: 2
#4. Spencer County
- SBA approved about $184.25 per resident in 7(a) loans in 2023.
- Total approved funds: $3.5 million
- Number of loans: 1
#3. Mason County
- SBA approved about $254.20 per resident in 7(a) loans in 2023.
- Total approved funds: $4.3 million
- Number of loans: 6
#2. Pendleton County
- SBA approved about $335.79 per resident in 7(a) loans in 2023.
- Total approved funds: $4.9 million
- Number of loans: 1
#1. Owen County
- SBA approved about $456.00 per resident in 7(a) loans in 2023.
- Total approved funds: $5.1 million
- Number of loans: 2
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
