How Much Can Payroll Services Businesses Get in SBA Loans?
425 SBA loans totaling $126.6M have been approved for payroll services businesses (NAICS 541214). The average approved SBA loan is $298K, which is 13% below avg the $340K national average. 149 active lenders fund this industry with a 10.9% default rate on the matured 2018-2021 loan cohort.
At 10.9%, Payroll Services 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 541214 (Payroll Services) received 425 SBA loans worth $126.6M across 5+ states. Average loan $298K, average term 109 months, 10.9% default rate (resolved-loan basis).149 active SBA-approved lenders fund this industry. Most payroll services loans use the SBA 7(a) program. There are approximately 5,480 U.S. establishments in this industry (Census 2022).
Is SBA Lending Growing for Payroll Services?+142% growth
Which SBA Program Do Payroll Services Businesses Use Most?
What Is the Best SBA Loan for Payroll Services?
The most widely used SBA program for payroll services businesses — flexible terms, multiple use cases
Where Are Payroll Services SBA Loans Most Common?
Top SBA Lenders for Payroll Services
These banks have funded the most SBA loans for payroll services businesses (NAICS 541214). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Wells Fargo Bank National Association(SD) | 28 | $13.3M |
| 2 | Citizens Bank, National Association(RI) | 20 | $574K |
| 3 | Bank of America, National Association(NC) | 19 | $2.0M |
| 4 | The Huntington National Bank(OH) | 18 | $1.5M |
| 5 | JPMorgan Chase Bank, National Association(OH) | 14 | $1000K |
Payroll Services Industry Context
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How Does SBA Lending Work for Payroll Services Businesses?
Across all SBA loan programs, 425 loans have been approved for businesses classified under NAICS 541214 (Payroll Services), representing $126.6M in total capital deployed. The average approved loan of $298K is 13% below avg the national SBA average of $340K, with typical repayment terms of 109 months.
SBA lending for payroll services is accelerating — loan volume has grown approximately 142% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2025.
The industry sees a balanced mix of SBA programs, with 7% 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.
PeerSense specializes in matching payroll services 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 — Payroll Services SBA Loans
What is the average SBA loan size for payroll services businesses?
Which SBA loan program is best for a payroll services business?
How many lenders fund SBA loans for payroll services?
What states have the most SBA lending for payroll services?
How does PeerSense help payroll services businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Payroll Services defined by NAICS code 541214. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.