50-State Guide · Updated 2026-08-25
Small Business Financing by State — SBA 7(a) Volume, SMB Population & Disclosure Law in All 50 States
Across all 50 states, small businesses received 75,419 SBA 7(a) loans totaling $33.8B in FY2024, serving a combined 34.1 million small businesses. 11 states have enacted a commercial financing disclosure law. Below is the full 50-state comparison — plus a dedicated financing summary for 15 states without their own page.
SMB population, SBA 7(a) volume & disclosure law, by state
All 50 states. States with a dedicated ClearValue Lending state guide are linked in the first column; the other 15 are covered directly below this table.
| State | Small businesses | SBA 7(a) loans FY2024 | SBA 7(a) $ volume FY2024 | Commercial financing disclosure law |
|---|---|---|---|---|
| Alabama | 420,387 | 812 | $339.4M | None enacted |
| Alaska | 73,024 | 219 | $91.2M | None enacted |
| Arizona | 686,474 | 2,104 | $988.3M | None enacted |
| Arkansas | 264,119 | 567 | $226.4M | None enacted |
| California | 4,244,856 | 8,277 | $4026.9M | Enacted |
| Colorado | 687,842 | 2,012 | $873.4M | None enacted |
| Connecticut | 363,819 | 891 | $332.4M | Enacted |
| Delaware | 90,742 | 276 | $101.3M | None enacted |
| Florida | 3,275,898 | 5,903 | $2834.0M | Enacted |
| Georgia | 1,204,198 | 3,241 | $1687.4M | Enacted |
| Hawaii | 128,783 | 378 | $161.2M | None enacted |
| Idaho | 196,183 | 531 | $221.7M | None enacted |
| Illinois | 1,315,626 | 2,469 | $1174.1M | None enacted |
| Indiana | 562,818 | 1,198 | $498.2M | None enacted |
| Iowa | 278,643 | 643 | $263.7M | None enacted |
| Kansas | 272,438 | 621 | $254.8M | Enacted |
| Kentucky | 381,924 | 768 | $311.6M | None enacted |
| Louisiana | 436,241 | 798 | $327.8M | Enacted |
| Maine | 143,621 | 341 | $126.8M | None enacted |
| Maryland | 650,947 | 1,487 | $619.4M | None enacted |
| Massachusetts | 722,949 | 1,987 | $782.1M | None enacted |
| Michigan | 884,819 | 1,743 | $739.8M | None enacted |
| Minnesota | 556,581 | 1,612 | $691.4M | None enacted |
| Mississippi | 244,783 | 487 | $193.8M | None enacted |
| Missouri | 566,819 | 1,398 | $578.3M | Enacted |
| Montana | 117,419 | 312 | $127.4M | None enacted |
| Nebraska | 181,642 | 487 | $196.4M | None enacted |
| Nevada | 298,237 | 902 | $389.7M | None enacted |
| New Hampshire | 144,832 | 369 | $141.3M | None enacted |
| New Jersey | 913,002 | 2,873 | $1124.6M | None enacted |
| New Mexico | 183,928 | 412 | $168.3M | None enacted |
| New York | 2,231,338 | 4,816 | $1446.4M | Enacted |
| North Carolina | 968,742 | 2,187 | $978.6M | None enacted |
| North Dakota | 73,847 | 198 | $78.4M | None enacted |
| Ohio | 965,533 | 1,876 | $812.3M | None enacted |
| Oklahoma | 366,724 | 843 | $356.1M | None enacted |
| Oregon | 412,883 | 1,043 | $441.7M | None enacted |
| Pennsylvania | 1,181,012 | 2,619 | $1291.8M | None enacted |
| Rhode Island | 107,823 | 298 | $108.4M | None enacted |
| South Carolina | 489,614 | 1,087 | $452.8M | None enacted |
| South Dakota | 91,683 | 243 | $96.8M | None enacted |
| Tennessee | 687,913 | 1,564 | $667.2M | None enacted |
| Texas | 3,345,563 | 5,233 | $3198.4M | Enacted |
| Utah | 341,819 | 1,124 | $476.3M | Enacted |
| Vermont | 74,621 | 187 | $69.4M | None enacted |
| Virginia | 857,483 | 1,897 | $821.3M | Enacted |
| Washington | 736,327 | 2,344 | $1198.7M | None enacted |
| West Virginia | 117,243 | 287 | $109.8M | None enacted |
| Wisconsin | 516,042 | 1,287 | $536.9M | None enacted |
| Wyoming | 64,347 | 168 | $67.2M | None enacted |
Source: SBA Office of Advocacy 2024 State Profiles (small-business counts, Census 2021 data) and the SBA FOIA 7(a) loan-level dataset (data.sba.gov, FY2024 approvals as of March 31, 2026). Disclosure-law status reflects each state's own enacted statute as tracked in the individual state pages — state legislative activity changes; confirm current status before relying on it.
State financing summaries
The 15 states below don't have a dedicated /states page — their financing summary, verified SBA data, and top industries live here instead.
Arizona
Arizona has 686,000 small businesses employing 1.2 million workers across one of the fastest-growing states in the country. In FY2024, Arizona small businesses received 2,104 SBA 7(a) loans totaling $988 million, with an average loan size of approximately $470,000. Phoenix has become one of the Sun Belt's most active SMB formation markets, driven by population migration from California and sustained commercial development.
Small businesses
686,474
SBA 7(a) loans FY2024
2,104 · $988.3M
Avg SBA loan size
$470K
Construction
Arizona's construction sector is one of the nation's most active, driven by Phoenix-area population growth and sustained residential and commercial development. Equipment financing, materials working capital, and SBA 7(a) are the primary tools for Arizona construction SMBs.
Real Estate & Rental & Leasing
Arizona's real estate SMB sector reflects the state's high transaction volume in residential and commercial markets. Property management firms, real estate services businesses, and short-term rental operators may access SBA 7(a) and asset-backed financing.
Commercial financing disclosureArizona — no statewide CFDL enacted as of 2026-05-20
Arizona does not currently have a statewide commercial financing disclosure law. Commercial lending in Arizona is governed primarily by federal law and lender-specific agreements. ClearValue Lending monitors Arizona legislative developments.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Arizona SMB applicants to lender partners operating across all Arizona markets. Arizona has no statewide commercial financing disclosure law; lender partners comply with applicable federal requirements.
Arkansas
Arkansas has 264,000 small businesses employing 482,000 workers — 41.2 percent of the state's private workforce. In FY2024, Arkansas small businesses received 567 SBA 7(a) loans totaling $226 million, with an average loan size of approximately $399,000. Arkansas's SMB economy is anchored by retail and logistics (Walmart's global headquarters in Bentonville and its enormous supplier and services ecosystem), agriculture, and food processing — Tyson Foods' home state is one of the nation's largest poultry producers.
Small businesses
264,119
SBA 7(a) loans FY2024
567 · $226.4M
Avg SBA loan size
$399K
Transportation & Warehousing
Arkansas's outsized trucking concentration — driven by the Walmart supply chain — makes it one of the nation's top trucking states per capita. Small fleets, freight brokers, and logistics companies access equipment financing and working capital for fleet operations.
Agriculture & Poultry Processing
Arkansas is the nation's second-largest broiler chicken producer. Poultry farm operators, feed mill operators, and food processors access equipment financing and SBA 7(a) for facility expansion.
Commercial financing disclosureArkansas — no statewide CFDL enacted as of 2026-05-20
Arkansas does not currently have a statewide commercial financing disclosure law. Commercial lending in Arkansas is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Arkansas SMB applicants to lender partners operating across all Arkansas markets.
Connecticut
Connecticut has 364,000 small businesses employing 774,000 workers — 48.3 percent of the state's private workforce, one of the highest small business employment shares in the Northeast. In FY2024, Connecticut small businesses received 891 SBA 7(a) loans totaling $332 million, with an average loan size of approximately $373,000. Connecticut's SMB economy is shaped by its position between New York City and Boston — financial services, insurance, professional services, and defense/aerospace SMBs cluster in the Fairfield County, Hartford, and New Haven areas.
Small businesses
363,819
SBA 7(a) loans FY2024
891 · $332.4M
Avg SBA loan size
$373K
Finance & Insurance
Connecticut's insurance and financial services concentration in Hartford and Stamford supports a large professional services SMB ecosystem — actuaries, compliance consultants, IT services, and specialty insurance firms. Working capital lines are the primary financing tool.
Professional, Scientific & Technical Services
Fairfield County's proximity to NYC and Hartford's corporate base drive Connecticut's largest SMB sector. Law firms, financial consultants, engineering companies, and IT services firms use working capital lines to manage extended billing cycles.
Commercial financing disclosureConnecticut CGS §36a-869 (Commercial Financing Disclosure)
Connecticut enacted commercial financing disclosure requirements under CGS §36a-869, effective July 2024. Disclosure obligations rest with the financing provider (the lender), not with platforms like ClearValue Lending. Our lender partners deliver Connecticut-compliant disclosures at offer stage.
A commercial financing disclosure law is enacted in this state.
ClearValue Lending routes Connecticut SMB applicants to lender partners that comply with Connecticut's commercial financing disclosure requirements (CGS §36a-869). Disclosures are delivered by the funding lender at offer stage.
Georgia
Georgia is one of the fastest-growing SMB markets in the Southeast. In FY2024, Georgia small businesses received 3,241 SBA 7(a) loans totaling $1.7 billion, with an average loan size of approximately $521,000. The state's 1.2 million small businesses represent 99.7 percent of all Georgia businesses, employing 1.6 million workers across an economy anchored by logistics, construction, professional services, and healthcare.
Small businesses
1,204,198
SBA 7(a) loans FY2024
3,241 · $1687.4M
Avg SBA loan size
$521K
Construction
Georgia's residential and commercial construction boom — particularly in the Atlanta metro — has created one of the Southeast's largest construction SMB sectors. Equipment financing, materials working capital, and SBA 7(a) for business acquisition are the primary tools.
Transportation & Warehousing
Anchored by Hartsfield-Jackson and the Port of Savannah (the third-busiest US container port), Georgia's logistics sector supports a dense network of trucking, warehousing, and freight SMBs. Equipment financing and fleet working capital are standard financing needs.
Commercial financing disclosureGeorgia OCGA Title 7 amendments (Commercial Financing Disclosure)
Georgia enacted commercial financing disclosure requirements under OCGA Title 7 amendments effective 2023. The disclosure obligation rests with the financing provider (the lender), not with platforms like ClearValue Lending. Our lender partners deliver Georgia-compliant disclosures at offer stage.
A commercial financing disclosure law is enacted in this state.
ClearValue Lending routes Georgia SMB applicants to lender partners that comply with Georgia's commercial financing disclosure requirements. Disclosures are delivered by the funding lender at offer stage.
Hawaii
Hawaii has 129,000 small businesses employing 260,000 workers — 52.1 percent of the state's private workforce — one of the highest small business employment shares in the country. In FY2024, Hawaii small businesses received 378 SBA 7(a) loans totaling $161 million, with an average loan size of approximately $426,000. Hawaii's SMB economy is uniquely shaped by its geography: tourism is the economic foundation, but the high cost of operating an island-based business creates distinct financing challenges for every sector.
Small businesses
128,783
SBA 7(a) loans FY2024
378 · $161.2M
Avg SBA loan size
$426K
Accommodation & Food Services
Tourism is Hawaii's economic engine. Hotels, restaurants, luau operators, and activity companies access revenue-based financing and working capital lines to manage the seasonal revenue swings and high operating costs of Hawaii's hospitality economy.
Construction
Hawaii's acute housing shortage and high construction costs create significant capital needs for construction SMBs. Equipment financing, materials working capital, and SBA 7(a) for business expansion are essential tools in one of the nation's most expensive construction markets.
Commercial financing disclosureHawaii — no statewide CFDL enacted as of 2026-05-20
Hawaii does not currently have a statewide commercial financing disclosure law. Commercial lending in Hawaii is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Hawaii SMB applicants to lender partners operating across all Hawaii markets.
Louisiana
Louisiana has 436,000 small businesses employing 836,000 workers — 42.8 percent of the state's private workforce. In FY2024, Louisiana small businesses received 798 SBA 7(a) loans totaling $328 million, with an average loan size of approximately $411,000. Louisiana's SMB economy is uniquely shaped by its energy services sector (offshore oil and gas, petrochemical processing), the Port of New Orleans and the Lower Mississippi River logistics corridor, and a significant tourism and hospitality economy concentrated in New Orleans.
Small businesses
436,241
SBA 7(a) loans FY2024
798 · $327.8M
Avg SBA loan size
$411K
Oil, Gas & Energy Services
Louisiana's offshore oil and gas industry and Gulf Coast petrochemical processing create a large energy services SMB ecosystem. Equipment financing for specialized oilfield and marine equipment and working capital for contract operations are the primary tools.
Transportation & Maritime
The Port of South Louisiana and the Lower Mississippi River corridor support a large maritime and logistics SMB sector. Marine transportation companies, ship chandlers, and freight operators access equipment financing and working capital.
Commercial financing disclosureLouisiana — HB 470 commercial financing disclosure law (effective 2025-08-01)
Louisiana enacted HB 470, a commercial financing disclosure law effective August 1, 2025, requiring standardized cost disclosures on covered commercial financing. Lender partners comply directly; ClearValue Lending is a comparison and referral platform, not a lender.
A commercial financing disclosure law is enacted in this state.
ClearValue Lending routes Louisiana SMB applicants to lender partners operating across all Louisiana markets.
Mississippi
Mississippi has 245,000 small businesses employing 452,000 workers — 41.1 percent of the state's private workforce. In FY2024, Mississippi small businesses received 487 SBA 7(a) loans totaling $194 million, with an average loan size of approximately $398,000. Mississippi's SMB economy is anchored by agriculture (soybeans, cotton, catfish farming), manufacturing (automotive, aerospace, shipbuilding), and a significant healthcare sector relative to the state's population.
Small businesses
244,783
SBA 7(a) loans FY2024
487 · $193.8M
Avg SBA loan size
$398K
Agriculture & Aquaculture
Mississippi is the nation's leading catfish producer and a major cotton and soybean state. Farm operators access equipment financing for agricultural machinery and seasonal working capital. Catfish producers access SBA 7(a) for pond and processing facility expansion.
Manufacturing & Shipbuilding
Ingalls Shipbuilding and Mississippi's automotive assembly plants (Nissan in Canton) create Tier-2 and Tier-3 supplier SMBs. Equipment financing and SBA 7(a) serve manufacturers in this sector.
Commercial financing disclosureMississippi — no statewide CFDL enacted as of 2026-05-20
Mississippi does not currently have a statewide commercial financing disclosure law. Commercial lending in Mississippi is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Mississippi SMB applicants to lender partners operating across all Mississippi markets.
Montana
Montana has 117,000 small businesses employing 236,000 workers — 53.1 percent of the state's private workforce — one of the highest small business employment shares in the country. In FY2024, Montana small businesses received 312 SBA 7(a) loans totaling $127 million, with an average loan size of approximately $408,000. Montana's SMB economy is defined by its geography: agriculture and ranching, outdoor tourism (Glacier National Park, Yellowstone border, Big Sky skiing), and a growing remote-work professional class are the dominant economic forces.
Small businesses
117,419
SBA 7(a) loans FY2024
312 · $127.4M
Avg SBA loan size
$408K
Agriculture & Ranching
Montana is a leading producer of wheat, barley, cattle, and sheep. Ranch and farm operators access equipment financing for agricultural machinery and seasonal working capital for livestock and crop operations.
Accommodation & Outdoor Tourism
Glacier National Park, Yellowstone gateway communities, Big Sky Resort, and Flathead Lake drive Montana's outdoor tourism economy. Outfitters, lodges, and recreation operators use revenue-based financing and working capital for seasonal operations.
Commercial financing disclosureMontana — no statewide CFDL enacted as of 2026-05-20
Montana does not currently have a statewide commercial financing disclosure law. Commercial lending in Montana is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Montana SMB applicants to lender partners operating across all Montana markets.
Nebraska
Nebraska has 182,000 small businesses employing 404,000 workers — 47.8 percent of the state's private workforce. In FY2024, Nebraska small businesses received 487 SBA 7(a) loans totaling $196 million, with an average loan size of approximately $403,000. Nebraska's SMB economy is anchored by agriculture and food processing — the state is one of the nation's top beef, corn, and soybean producers — alongside a significant insurance and financial services sector in Omaha and a growing technology presence.
Small businesses
181,642
SBA 7(a) loans FY2024
487 · $196.4M
Avg SBA loan size
$403K
Agriculture & Food Processing
Nebraska is a top-five producer of beef, corn, and soybeans. Farm operators access equipment financing for machinery; feedlot and processing operations access SBA 7(a) for facility expansion. Seasonal working capital bridges crop and livestock cycle cash flow gaps.
Insurance & Financial Services
Omaha's insurance and financial services concentration — Berkshire Hathaway, Mutual of Omaha, Physicians Mutual — supports a large professional services SMB sector. Working capital lines manage extended billing cycles with large corporate clients.
Commercial financing disclosureNebraska — no statewide CFDL enacted as of 2026-05-20
Nebraska does not currently have a statewide commercial financing disclosure law. Commercial lending in Nebraska is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Nebraska SMB applicants to lender partners operating across all Nebraska markets.
New Jersey
New Jersey has 913,000 small businesses employing 1.7 million workers — one of the highest SMB employment densities in the Northeast. In FY2024, New Jersey small businesses received 2,873 SBA 7(a) loans totaling $1.1 billion, with an average loan size of approximately $391,000. The state's SMB economy is anchored by pharmaceutical and life sciences services, professional services, logistics, and a large healthcare sector.
Small businesses
913,002
SBA 7(a) loans FY2024
2,873 · $1124.6M
Avg SBA loan size
$391K
Professional, Scientific & Technical Services
New Jersey's pharmaceutical corridor (Parsippany, Princeton, Morris County) anchors a large professional services SMB sector including CROs, consulting firms, and IT services. Working capital lines bridge extended client payment cycles.
Transportation & Warehousing
Port Newark-Elizabeth and the I-95/I-78 corridor make New Jersey a national logistics hub. Small trucking fleets, 3PLs, and warehouse operators access equipment financing and working capital for operations.
Commercial financing disclosureNew Jersey — no statewide CFDL enacted as of 2026-05-20
New Jersey does not currently have a statewide commercial financing disclosure law. Commercial lending in New Jersey is governed primarily by federal law and lender-specific agreements. ClearValue Lending monitors state legislative activity.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes New Jersey SMB applicants to lender partners operating across the state. New Jersey has no statewide commercial financing disclosure law; lender partners comply with applicable federal requirements.
New Mexico
New Mexico has 184,000 small businesses employing 342,000 workers — 43.0 percent of the state's private workforce. In FY2024, New Mexico small businesses received 412 SBA 7(a) loans totaling $168 million, with an average loan size of approximately $408,500. New Mexico's SMB economy is shaped by its federal presence (Sandia National Laboratories, Kirtland Air Force Base, Los Alamos National Laboratory), a significant oil and gas sector in the Permian Basin's New Mexico extension, and a tourism and arts economy concentrated in Santa Fe and Taos.
Small businesses
183,928
SBA 7(a) loans FY2024
412 · $168.3M
Avg SBA loan size
$409K
Defense & Federal Laboratory Services
Sandia, Los Alamos, and Kirtland Air Force Base create a large defense and scientific services SMB sector. IT, engineering, and scientific consulting firms access working capital lines to manage government contract payment cycles.
Oil, Gas & Energy Services
New Mexico's Permian Basin extension in Lea and Eddy counties supports oil and gas services SMBs. Equipment financing for drilling and oilfield equipment and working capital for contract operations are the primary tools.
Commercial financing disclosureNew Mexico — no statewide CFDL enacted as of 2026-05-20
New Mexico does not currently have a statewide commercial financing disclosure law. Commercial lending in New Mexico is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes New Mexico SMB applicants to lender partners operating across all New Mexico markets.
New York
New York has 2.2 million small businesses employing 3.7 million workers — 46.3 percent of the state's private workforce, a share that exceeds the national average. In FY2024, New York small businesses received 4,816 SBA 7(a) loans totaling $1.4 billion. The average SBA loan size of approximately $300,000 — the lowest among the five largest states — reflects New York's high concentration of service-sector and retail SMBs, where capital needs tend to be smaller but more frequent.
Small businesses
2,231,338
SBA 7(a) loans FY2024
4,816 · $1446.4M
Avg SBA loan size
$300K
Professional, Scientific & Technical Services
332,888 professional services SMBs anchor New York City's global business economy. Law firms, financial consultants, tech agencies, and management consultants use working capital lines to manage extended client billing cycles.
Transportation & Warehousing
290,411 transportation and warehousing small businesses serve the NYC metro's complex logistics needs — including last-mile delivery, freight, and commercial warehousing. Equipment financing and working capital are standard financing tools.
Commercial financing disclosureNew York S5470B (Commercial Finance Disclosure Law)
New York S5470B enacted broad commercial financing disclosure requirements effective August 2022. The law requires providers and certain intermediaries to deliver standardized cost disclosures on commercial financing transactions. Disclosure obligations rest with the financing provider. ClearValue Lending routes to lender partners that comply with New York's requirements.
A commercial financing disclosure law is enacted in this state.
ClearValue Lending routes New York SMB applicants to lender partners that comply with New York's commercial finance disclosure law (S5470B). Disclosures are delivered by the funding lender at offer stage.
Rhode Island
Rhode Island has 108,000 small businesses employing 228,000 workers — 48.6 percent of the state's private workforce. In FY2024, Rhode Island small businesses received 298 SBA 7(a) loans totaling $108 million, with an average loan size of approximately $364,000. Rhode Island's SMB economy punches above its weight — as the nation's smallest state by area, its SMB density is among the highest in New England, with professional services, healthcare, design and arts, and a significant manufacturing sector concentrated in Providence and Newport.
Small businesses
107,823
SBA 7(a) loans FY2024
298 · $108.4M
Avg SBA loan size
$364K
Professional, Scientific & Technical Services
Rhode Island's professional services SMB sector is anchored by Providence's healthcare, education, and design economies. IT, engineering, and design services firms use working capital lines to manage billing cycles.
Health Care & Social Assistance
Rhode Island's healthcare SMB sector serves a dense population — primary care, behavioral health, dental, and home health. SBA 7(a) supports practice acquisitions; equipment financing covers diagnostic technology.
Commercial financing disclosureRhode Island — no statewide CFDL enacted as of 2026-05-20
Rhode Island does not currently have a statewide commercial financing disclosure law. Commercial lending in Rhode Island is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Rhode Island SMB applicants to lender partners operating across all Rhode Island markets.
South Carolina
South Carolina has 490,000 small businesses employing 851,000 workers — 42.4 percent of the state's private workforce. In FY2024, South Carolina small businesses received 1,087 SBA 7(a) loans totaling $453 million, with an average loan size of approximately $416,500. South Carolina's SMB economy has diversified significantly — from a traditional textile and manufacturing base to construction, tourism, healthcare, and automotive manufacturing support industries, particularly in the Upstate (Greenville-Spartanburg) and coastal markets (Charleston, Myrtle Beach).
Small businesses
489,614
SBA 7(a) loans FY2024
1,087 · $452.8M
Avg SBA loan size
$417K
Construction
South Carolina's population growth — particularly in Charleston and Greenville — sustains an active construction SMB market. Equipment financing, materials working capital, and SBA 7(a) are standard tools for South Carolina construction firms.
Accommodation & Food Services
Myrtle Beach, Charleston, and Hilton Head drive one of the Southeast's largest tourism-based hospitality SMB sectors. Revenue-based financing and working capital lines manage seasonal revenue swings for South Carolina hospitality businesses.
Commercial financing disclosureSouth Carolina — no statewide CFDL enacted as of 2026-05-20
South Carolina does not currently have a statewide commercial financing disclosure law. Commercial lending is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes South Carolina SMB applicants to lender partners operating across all South Carolina markets.
Wyoming
Wyoming has 64,000 small businesses employing 120,000 workers — 49.0 percent of the state's private workforce. In FY2024, Wyoming small businesses received 168 SBA 7(a) loans totaling $67 million, with an average loan size of approximately $400,000. Wyoming's SMB economy is shaped by three primary forces: energy (coal, oil, natural gas — Wyoming is a top energy-producing state), outdoor tourism (Yellowstone and Grand Teton national parks), and ranching. Its population of fewer than 600,000 makes it the least-populated state, but its energy wealth gives it one of the highest per-capita incomes in the Mountain West.
Small businesses
64,347
SBA 7(a) loans FY2024
168 · $67.2M
Avg SBA loan size
$400K
Oil, Gas & Mining
Wyoming is a leading coal, oil, and natural gas producer. Energy services SMBs access equipment financing for mining and oilfield machinery and working capital for contract operations, with financing cyclical to energy commodity prices.
Agriculture & Ranching
Wyoming's cattle ranching and sheep grazing industries create agricultural SMBs with equipment financing and seasonal working capital needs. Ranch operations access SBA agricultural loans for land and livestock expansion.
Commercial financing disclosureWyoming — no statewide CFDL enacted as of 2026-05-20
Wyoming does not currently have a statewide commercial financing disclosure law. Commercial lending in Wyoming is governed primarily by federal law and lender-specific agreements.
No statewide commercial financing disclosure law is currently enacted.
ClearValue Lending routes Wyoming SMB applicants to lender partners operating across all Wyoming markets.
Small business financing by state — common questions
Which states have a commercial financing disclosure law (CFDL)? +
11 of the 50 states tracked here have enacted a commercial financing disclosure law as of 2026-08-25 — California (SB 1235), New York (S5470B), Georgia, Connecticut, Florida, Louisiana, and Texas among them — requiring standardized APR-equivalent cost disclosures on commercial financing. The obligation falls on the financing provider (the lender), not on a comparison platform like ClearValue Lending. States without an enacted CFDL are noted in the table below; that list is state legislative activity that changes, so confirm current status for your state before relying on it.
Why does SBA 7(a) loan volume vary so much by state? +
SBA 7(a) volume tracks a state's small-business population and its industry mix — California and Texas, the two largest SMB populations, also lead in FY2024 approval counts and dollar volume, while smaller states like Wyoming and Rhode Island see proportionally fewer loans. Average loan size also varies by state: states with a higher concentration of capital-intensive industries (construction, manufacturing, real estate) tend to show a larger average SBA loan size than states dominated by professional-services and retail SMBs.
Does my state have its own dedicated ClearValue Lending guide? +
35 states have a dedicated /states page with a full stat breakdown, top-industry detail, and state-specific FAQ — linked in the table below. The other 15 states are covered directly on this page, with the same verified SBA and Census data plus a state-specific financing summary, so every state's information is available even without a separate page.
What is SBA 7(a) and why is it the benchmark loan program cited here? +
SBA 7(a) is the Small Business Administration's flagship guaranteed-loan program and the largest single source of publicly reported, state-level small-business lending data (via the SBA FOIA loan-level dataset). It is one financing option among several — lenders also deploy SBA 504, USDA B&I, equipment financing, working-capital lines, and conventional products — but its public reporting makes it the most reliable apples-to-apples way to compare lending activity across all 50 states.
How current is this data? +
SBA 7(a) approval counts and dollar volumes reflect FY2024 (the most recent full fiscal year), aggregated from the SBA FOIA dataset as of March 31, 2026. Small-business counts and top industries are from the SBA Office of Advocacy's 2024 State Profiles (2021 Census data). Population figures are U.S. Census Bureau July 1, 2025 estimates. This page was last reviewed 2026-08-25.
Sources & methodology
- Small business counts and top industries: SBA Office of Advocacy, 2024 Small Business Profiles (2021 Census data).
- SBA 7(a) FY2024 loan volumes: SBA FOIA loan-level dataset, aggregated by project state, as of March 31, 2026.
- Population: U.S. Census Bureau, July 1, 2025 estimates.
- Commercial financing disclosure law status: each state's own enacted statute, as tracked on the individual state pages.
- No figure on this page is fabricated or estimated — every number is reused verbatim from its own already-published, cited state page.
Editorial disclaimer: Information on this page reflects the sources cited above as of August 25, 2026. Commercial financing disclosure laws and SBA lending data change — confirm current terms with the agency or dataset linked before relying on this page for a funding decision. All financing is subject to lender partner approval. ClearValue Lending is a business & personal financing platform — not a lender, broker, or financial advisor. Not legal, tax, or financial advice.
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