How Much Can Locksmiths Businesses Get in SBA Loans?
789 SBA loans totaling $143.6M have been approved for locksmiths businesses (NAICS 561622). The average approved SBA loan is $182K, which is 47% below avg the $340K national average. 198 active lenders fund this industry with a 14.7% default rate on the matured 2018-2021 loan cohort.
At 14.7%, Locksmiths sits below the 15.4% all-industry SBA default rate (charged-off as a share of resolved loans) — moderate 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 561622 (Locksmiths) received 789 SBA loans worth $143.6M across 5+ states. Average loan $182K, average term 107 months, 14.7% default rate (resolved-loan basis).198 active SBA-approved lenders fund this industry. Most locksmiths loans use the SBA 7(a) program. There are approximately 3,991 U.S. establishments in this industry (Census 2022).
Is SBA Lending Growing for Locksmiths?+70% growth
Which SBA Program Do Locksmiths Businesses Use Most?
What Is the Best SBA Loan for Locksmiths?
The most widely used SBA program for locksmiths businesses — flexible terms, multiple use cases
Where Are Locksmiths SBA Loans Most Common?
Top SBA Lenders for Locksmiths
These banks have funded the most SBA loans for locksmiths businesses (NAICS 561622). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Wells Fargo Bank National Association(SD) | 51 | $7.1M |
| 2 | Bank of America, National Association(NC) | 48 | $1.8M |
| 3 | U.S. Bank, National Association(OH) | 41 | $9.6M |
| 4 | JPMorgan Chase Bank, National Association(OH) | 38 | $2.3M |
| 5 | Citizens Bank, National Association(RI) | 35 | $899K |
Locksmiths Industry Context
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How Does SBA Lending Work for Locksmiths Businesses?
Across all SBA loan programs, 789 loans have been approved for businesses classified under NAICS 561622 (Locksmiths), representing $143.6M in total capital deployed. The average approved loan of $182K is 47% below avg the national SBA average of $340K, with typical repayment terms of 107 months.
SBA lending for locksmiths is accelerating — loan volume has grown approximately 70% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2017.
The overwhelming majority of SBA lending for locksmiths uses the 7(a) program, which provides the most flexibility — covering working capital, equipment purchases, partner buyouts, debt refinancing, and business acquisitions up to $5M with terms up to 25 years.
PeerSense specializes in matching locksmiths 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 — Locksmiths SBA Loans
What is the average SBA loan size for locksmiths businesses?
Which SBA loan program is best for a locksmiths business?
How many lenders fund SBA loans for locksmiths?
What states have the most SBA lending for locksmiths?
How does PeerSense help locksmiths businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Locksmiths defined by NAICS code 561622. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.