How Much Can Homes for the Elderly Businesses Get in SBA Loans?
4,045 SBA loans totaling $4.1B have been approved for homes for the elderly businesses (NAICS 623312). The average approved SBA loan is $1.0M, which is 199% above avg the $340K national average. 586 active lenders fund this industry with a 6.5% default rate on the matured 2018-2021 loan cohort.
At 6.5%, Homes for the Elderly sits well below the 15.4% all-industry SBA default rate (charged-off as a share of resolved loans) — low default risk relative to other SBA industries. Lenders price this risk into rate and structure, which is why matching the file to the right lender matters.
NAICS 623312 (Homes for the Elderly) received 4,045 SBA loans worth $4.1B across 5+ states. Average loan $1.0M, average term 245 months, 6.5% default rate (resolved-loan basis).586 active SBA-approved lenders fund this industry. Most homes for the elderly loans use the SBA 504 program. There are approximately 21,352 U.S. establishments in this industry (Census 2022).
Is SBA Lending Growing for Homes for the Elderly?+43% growth
Which SBA Program Do Homes for the Elderly Businesses Use Most?
What Is the Best SBA Loan for Homes for the Elderly?
23% of homes for the elderly loans use this program — ideal for real estate and major equipment purchases
Where Are Homes for the Elderly SBA Loans Most Common?
Top SBA Lenders for Homes for the Elderly
These banks have funded the most SBA loans for homes for the elderly businesses (NAICS 623312). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Wells Fargo Bank National Association(SD) | 215 | $120.9M |
| 2 | Columbia Bank(OR) | 169 | $163.9M |
| 3 | Live Oak Banking Company(NC) | 160 | $309.8M |
| 4 | Pinnacle Bank(CA) | 147 | $158.4M |
| 5 | Celtic Bank Corporation(UT) | 147 | $219.9M |
Homes for the Elderly Industry Context
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How Does SBA Lending Work for Homes for the Elderly Businesses?
Across all SBA loan programs, 4,045 loans have been approved for businesses classified under NAICS 623312 (Homes for the Elderly), representing $4.1B in total capital deployed. The average approved loan of $1.0M is 199% above avg the national SBA average of $340K, with typical repayment terms of 245 months.
SBA lending for homes for the elderly is accelerating — loan volume has grown approximately 43% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2021.
Notably, 23% of SBA loans in this industry use the 504 program — well above the national average — indicating that homes for the elderly businesses frequently finance major fixed assets like real estate, heavy equipment, or facility buildouts. The 504 program offers up to $5.5M with below-market fixed rates and only 10% down from the borrower.
PeerSense specializes in matching homes for the elderly business owners with the capital sources most likely to approve their specific deal structure. As an advisory firm (not a lender), we structure your deal across our network of 500+ SBA-approved lenders to find the best terms — our referral fee is established upfront and paid at closing. No retainers.
Frequently Asked Questions — Homes for the Elderly SBA Loans
What is the average SBA loan size for homes for the elderly businesses?
Which SBA loan program is best for a homes for the elderly business?
How many lenders fund SBA loans for homes for the elderly?
What states have the most SBA lending for homes for the elderly?
How does PeerSense help homes for the elderly businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Homes for the Elderly defined by NAICS code 623312. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.