The SBA loan guarantee program for Healthcare soared 29% in fiscal year ending September 30, 2024. Under the 7a and 504 programs, the number of healthcare loans approved rose 29% year-over-year and the average amount of loan guarantee rose by 18%. Most of this growth came from the popular 7a program. Average 7a healthcare loan size remained just above $500,000, but the number of SBA loan approvals increased to 6,717, up 32% year-over-year. SBA approved $3.4 billion in healthcare loans in 2024, up 22% over 2023. With the reduction in key interest rates on the horizon, you expect fiscal year 2025 to top these figures.
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