This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
Counties receiving the most SBA loans in South Carolina
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 South Carolina 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.
#42. Union County
- SBA approved about $0.18 per resident in 7(a) loans in 2023.
- Total approved funds: $5,000
- Number of loans: 1
#41. Fairfield County
- SBA approved about $1.18 per resident in 7(a) loans in 2023.
- Total approved funds: $25,000
- Number of loans: 1
#40. Abbeville County
- SBA approved about $4.48 per resident in 7(a) loans in 2023.
- Total approved funds: $109,200
- Number of loans: 1
#39. Barnwell County
- SBA approved about $11.54 per resident in 7(a) loans in 2023.
- Total approved funds: $240,000
- Number of loans: 1
#38. Kershaw County
- SBA approved about $16.76 per resident in 7(a) loans in 2023.
- Total approved funds: $1.1 million
- Number of loans: 6
#37. Laurens County
- SBA approved about $17.54 per resident in 7(a) loans in 2023.
- Total approved funds: $1.2 million
- Number of loans: 6
#36. Allendale County
- SBA approved about $18.06 per resident in 7(a) loans in 2023.
- Total approved funds: $150,000
- Number of loans: 1
#35. Hampton County
- SBA approved about $18.39 per resident in 7(a) loans in 2023.
- Total approved funds: $353,500
- Number of loans: 1
#34. Saluda County
- SBA approved about $19.73 per resident in 7(a) loans in 2023.
- Total approved funds: $375,000
- Number of loans: 1
#33. Orangeburg County
- SBA approved about $20.78 per resident in 7(a) loans in 2023.
- Total approved funds: $1.8 million
- Number of loans: 3
#32. Chesterfield County
- SBA approved about $22.74 per resident in 7(a) loans in 2023.
- Total approved funds: $992,800
- Number of loans: 1
#31. Chester County
- SBA approved about $23.27 per resident in 7(a) loans in 2023.
- Total approved funds: $751,000
- Number of loans: 1
#30. Greenwood County
- SBA approved about $25.71 per resident in 7(a) loans in 2023.
- Total approved funds: $1.8 million
- Number of loans: 3
#29. Newberry County
- SBA approved about $38.53 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 5
#28. Oconee County
- SBA approved about $39.91 per resident in 7(a) loans in 2023.
- Total approved funds: $3.1 million
- Number of loans: 4
#27. Edgefield County
- SBA approved about $41.92 per resident in 7(a) loans in 2023.
- Total approved funds: $1.1 million
- Number of loans: 5
#26. Sumter County
- SBA approved about $42.74 per resident in 7(a) loans in 2023.
- Total approved funds: $4.5 million
- Number of loans: 5
#25. Cherokee County
- SBA approved about $47.59 per resident in 7(a) loans in 2023.
- Total approved funds: $2.7 million
- Number of loans: 1
#24. Anderson County
- SBA approved about $49.27 per resident in 7(a) loans in 2023.
- Total approved funds: $10.0 million
- Number of loans: 19
#23. Clarendon County
- SBA approved about $55.10 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 1
#22. Georgetown County
- SBA approved about $56.22 per resident in 7(a) loans in 2023.
- Total approved funds: $3.5 million
- Number of loans: 8
#21. Dorchester County
- SBA approved about $60.25 per resident in 7(a) loans in 2023.
- Total approved funds: $9.7 million
- Number of loans: 16
#20. Berkeley County
- SBA approved about $65.07 per resident in 7(a) loans in 2023.
- Total approved funds: $14.6 million
- Number of loans: 28
#19. Dillon County
- SBA approved about $66.60 per resident in 7(a) loans in 2023.
- Total approved funds: $1.9 million
- Number of loans: 2
#18. Aiken County
- SBA approved about $67.24 per resident in 7(a) loans in 2023.
- Total approved funds: $11.3 million
- Number of loans: 15
#17. Horry County
- SBA approved about $73.91 per resident in 7(a) loans in 2023.
- Total approved funds: $25.5 million
- Number of loans: 50
#16. York County
- SBA approved about $76.30 per resident in 7(a) loans in 2023.
- Total approved funds: $21.1 million
- Number of loans: 45
#15. Florence County
- SBA approved about $77.60 per resident in 7(a) loans in 2023.
- Total approved funds: $10.7 million
- Number of loans: 15
#14. Charleston County
- SBA approved about $78.73 per resident in 7(a) loans in 2023.
- Total approved funds: $31.9 million
- Number of loans: 80
#13. Richland County
- SBA approved about $79.14 per resident in 7(a) loans in 2023.
- Total approved funds: $32.8 million
- Number of loans: 58
#12. Darlington County
- SBA approved about $80.40 per resident in 7(a) loans in 2023.
- Total approved funds: $5.1 million
- Number of loans: 3
#11. Colleton County
- SBA approved about $80.41 per resident in 7(a) loans in 2023.
- Total approved funds: $3.1 million
- Number of loans: 4
#10. Spartanburg County
- SBA approved about $86.45 per resident in 7(a) loans in 2023.
- Total approved funds: $27.9 million
- Number of loans: 49
#9. Lexington County
- SBA approved about $88.05 per resident in 7(a) loans in 2023.
- Total approved funds: $25.7 million
- Number of loans: 39
#8. Pickens County
- SBA approved about $94.80 per resident in 7(a) loans in 2023.
- Total approved funds: $12.3 million
- Number of loans: 19
#7. Greenville County
- SBA approved about $99.20 per resident in 7(a) loans in 2023.
- Total approved funds: $51.5 million
- Number of loans: 116
#6. Marlboro County
- SBA approved about $110.69 per resident in 7(a) loans in 2023.
- Total approved funds: $3.0 million
- Number of loans: 2
#5. Lancaster County
- SBA approved about $117.73 per resident in 7(a) loans in 2023.
- Total approved funds: $11.1 million
- Number of loans: 16
#4. Williamsburg County
- SBA approved about $123.09 per resident in 7(a) loans in 2023.
- Total approved funds: $3.9 million
- Number of loans: 2
#3. Beaufort County
- SBA approved about $129.88 per resident in 7(a) loans in 2023.
- Total approved funds: $24.2 million
- Number of loans: 39
#2. McCormick County
- SBA approved about $131.96 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 2
#1. Jasper County
- SBA approved about $192.00 per resident in 7(a) loans in 2023.
- Total approved funds: $5.5 million
- Number of loans: 5
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
