How Much Can Iron and Steel Mills Businesses Get in SBA Loans?
145 SBA loans totaling $44.3M have been approved for iron and steel mills businesses (NAICS 331111). The average approved SBA loan is $305K, which is 10% below avg the $340K national average. 68 active lenders fund this industry with a 17.9% default rate on the matured 2018-2021 loan cohort.
At 17.9%, Iron and Steel Mills sits above the 15.4% all-industry SBA default rate (charged-off as a share of resolved loans) — above average 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 331111 (Iron and Steel Mills) received 145 SBA loans worth $44.3M across 5+ states. Average loan $305K, average term 115 months, 17.9% default rate (resolved-loan basis).68 active SBA-approved lenders fund this industry. Manufacturers (NAICS 31-33) qualify for FY2026 SBA fee waivers and the new MARC revolving credit program.
FY2026 Manufacturing Fee Waivers Active
The SBA has waived guaranty fees for manufacturers (NAICS 31-33) through September 30, 2026:
504 loans — all guaranty fees waived for manufacturing
7(a) loans up to $950K — guaranty fee waived
Revolving credit line — manufacturers only (new Oct 2025)
The proposed Made in America Manufacturing Finance Act (H.R. 3174) would double SBA limits to $10M for domestic manufacturers — currently passed House, awaiting Senate vote.
Which SBA Program Do Iron and Steel Mills Businesses Use Most?
What Is the Best SBA Loan for Iron and Steel Mills?
Most popular for manufacturing equipment and real estate — with 0% guaranty fees in FY2026
Where Are Iron and Steel Mills SBA Loans Most Common?
Top SBA Lenders for Iron and Steel Mills
These banks have funded the most SBA loans for iron and steel mills businesses (NAICS 331111). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Citizens Bank, National Association(RI) | 15 | $486K |
| 2 | The Huntington National Bank(OH) | 8 | $3.4M |
| 3 | Wells Fargo Bank National Association(SD) | 8 | $564K |
| 4 | PNC Bank, National Association(DE) | 8 | $1.7M |
| 5 | JPMorgan Chase Bank, National Association(OH) | 7 | $1.6M |
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How Does SBA Lending Work for Iron and Steel Mills Businesses?
Across all SBA loan programs, 145 loans have been approved for businesses classified under NAICS 331111 (Iron and Steel Mills), representing $44.3M in total capital deployed. The average approved loan of $305K is 10% below avg the national SBA average of $340K, with typical repayment terms of 115 months.
SBA lending for iron and steel mills has remained relatively stable across recent fiscal years. 68 active lenders continue funding this sector, providing consistent access to capital for both new ventures and established businesses looking to expand.
The industry sees a balanced mix of SBA programs, with 20% of loans using the 504 program for fixed asset acquisition and the majority using 7(a) for its flexibility across working capital, equipment, and business acquisition uses. SBA 7(a) loans offer up to $5M with terms up to 25 years for real estate.
As a manufacturing business under NAICS 31-33, you qualify for enhanced SBA incentives through September 30, 2026. The SBA has fully waived guaranty fees on all 504 loans and on 7(a) loans up to $950,000 for manufacturers. Additionally, the MARC (Manufacturers' Access to Revolving Credit) program launched in October 2025, offering up to $5M in revolving credit exclusively for domestic manufacturers — a first for SBA lending.
Frequently Asked Questions — Iron and Steel Mills SBA Loans
What is the average SBA loan size for iron and steel mills businesses?
Which SBA loan program is best for a iron and steel mills business?
How many lenders fund SBA loans for iron and steel mills?
Are there SBA fee waivers for manufacturing businesses in 2026?
How does PeerSense help iron and steel mills businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Iron and Steel Mills defined by NAICS code 331111. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.