How Much Can Tobacco and Tobacco Product Merchant Wholesalers Businesses Get in SBA Loans?
393 SBA loans totaling $164.7M have been approved for tobacco and tobacco product merchant wholesalers businesses (NAICS 424940). The average approved SBA loan is $419K, which is 23% above avg the $340K national average. 124 active lenders fund this industry with a 21.1% default rate on the matured 2018-2021 loan cohort.
At 21.1%, Tobacco and Tobacco Product Merchant Wholesalers sits well above the 15.4% all-industry SBA default rate (charged-off as a share of resolved loans) — elevated 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 424940 (Tobacco and Tobacco Product Merchant Wholesalers) received 393 SBA loans worth $164.7M across 5+ states. Average loan $419K, average term 119 months, 21.1% default rate (resolved-loan basis).124 active SBA-approved lenders fund this industry. Most tobacco and tobacco product merchant wholesalers loans use the SBA 7(a) program. There are approximately 1,656 U.S. establishments in this industry (Census 2022).
Is SBA Lending Growing for Tobacco and Tobacco Product Merchant Wholesalers?+29% growth
Which SBA Program Do Tobacco and Tobacco Product Merchant Wholesalers Businesses Use Most?
What Is the Best SBA Loan for Tobacco and Tobacco Product Merchant Wholesalers?
The most widely used SBA program for tobacco and tobacco product merchant wholesalers businesses — flexible terms, multiple use cases
Where Are Tobacco and Tobacco Product Merchant Wholesalers SBA Loans Most Common?
Top SBA Lenders for Tobacco and Tobacco Product Merchant Wholesalers
These banks have funded the most SBA loans for tobacco and tobacco product merchant wholesalers businesses (NAICS 424940). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Wells Fargo Bank National Association(SD) | 33 | $12.4M |
| 2 | JPMorgan Chase Bank, National Association(OH) | 26 | $5.9M |
| 3 | The Huntington National Bank(OH) | 26 | $3.8M |
| 4 | Bank of America, National Association(NC) | 17 | $3.9M |
| 5 | Citizens Bank, National Association(RI) | 16 | $1.2M |
Tobacco and Tobacco Product Merchant Wholesalers Industry Context
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How Does SBA Lending Work for Tobacco and Tobacco Product Merchant Wholesalers Businesses?
Across all SBA loan programs, 393 loans have been approved for businesses classified under NAICS 424940 (Tobacco and Tobacco Product Merchant Wholesalers), representing $164.7M in total capital deployed. The average approved loan of $419K is 23% above avg the national SBA average of $340K, with typical repayment terms of 119 months.
SBA lending for tobacco and tobacco product merchant wholesalers is accelerating — loan volume has grown approximately 29% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2024.
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 tobacco and tobacco product merchant wholesalers 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 — Tobacco and Tobacco Product Merchant Wholesalers SBA Loans
What is the average SBA loan size for tobacco and tobacco product merchant wholesalers businesses?
Which SBA loan program is best for a tobacco and tobacco product merchant wholesalers business?
How many lenders fund SBA loans for tobacco and tobacco product merchant wholesalers?
What states have the most SBA lending for tobacco and tobacco product merchant wholesalers?
How does PeerSense help tobacco and tobacco product merchant wholesalers businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Tobacco and Tobacco Product Merchant Wholesalers defined by NAICS code 424940. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.