Real Window Creative // Shutterstock
1 / 50#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
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.
Canva
2 / 50#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
Canva
3 / 50#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
Patrick Jennings // Shutterstock
4 / 50#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
Cody Thane Prater // Shutterstock
5 / 50#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
Ivelin Denev // Shutterstock
6 / 50#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
Canva
7 / 50#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
Canva
8 / 50#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
JNix // Shutterstock
9 / 50#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
Canva
10 / 50#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
Canva
11 / 50#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
Nate Hovee // Shutterstock
12 / 50#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
Wangkun Jia // Shutterstock
13 / 50#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
Canva
14 / 50#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
Real Window Creative // Shutterstock
15 / 50#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
Canva
16 / 50#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
Canva
17 / 50#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
Canva
18 / 50#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
The American Explorer // Shutterstock
19 / 50#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
Canva
20 / 50#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
Canva
21 / 50#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
Canva
22 / 50#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
Canva
23 / 50#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
Marked Imagery // Shutterstock
24 / 50#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
Canva
25 / 50#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
Rosemarie Mosteller // Shutterstock
26 / 50#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
Alexey Stiop // Shutterstock
27 / 50#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
Canva
28 / 50#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
Canva
29 / 50#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
Canva
30 / 50#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
Canva
31 / 50#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
Ryan_hoel // Shutterstock
32 / 50#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
Canva
33 / 50#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
Canva
34 / 50#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
Canva
35 / 50#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
Stephen Bailey // Shutterstock
36 / 50#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
f11photo // Shutterstock
37 / 50#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
Canva
38 / 50#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
Sean Pavone // Shutterstock
39 / 50#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
Patrick Jennings // Shutterstock
40 / 50#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
Canva
41 / 50#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
Canva
42 / 50#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
Canva
43 / 50#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
hw22 // Shutterstock
44 / 50#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
Canva
45 / 50#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
Canva
46 / 50#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
Michele Korfhage // Shutterstock
47 / 50#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
Canva
48 / 50#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
Canva
49 / 50#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
Canva
50 / 50#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.
