Lexington County SBA loan approvals edged up

More businesses in Lexington County are getting U.S. Small Business Administration loans, even as approvals fall nationwide, according to a new analysis of federal loan records by commercial debt collection firm The Kaplan Group.

Approvals there totaled 34 SBA 7(a) loans from December 2025 through September 2026, up 10% from 31 during the same months a year earlier, while approvals fell 17% nationwide.

These loans help owners buy equipment, stock inventory and cover expenses when they can't get financing elsewhere. A contractor can have jobs booked but still need money for materials before customers pay. When a loan is harder to get, owners lean on collecting what they're owed, and that money is often late. If neither comes through, the owner may have to use savings, take on pricier debt or turn down work.

Lexington County SBA 7(a) loans at a glance

• Loans approved, Dec. 2024 through Sept. 2025: 31

• Loans approved, Dec. 2025 through Sept. 2026: 34

• Approved financing in those two periods: about $16 million and $24.7 million

• Change in approvals across South Carolina: down 20%

• Change in approvals nationwide: down 17%

The figures come from the most recent loan records the SBA publishes, its public 7(a) data. Canceled loans are excluded, and October and November are left out of both periods because of the 2025 federal shutdown.

The Kaplan Group is a commercial debt collection agency specializing in recovering unpaid business-to-business debts, serving businesses in Lexington County, South Carolina and nationwide. The firm says it helps businesses recover outstanding receivables and resolve commercial payment disputes.