The chart titled “Top 5 States for Small Business Loans (2020–2025)” highlights loan approval trends across major U.S. states supporting entrepreneurs. California leads consistently, with loan approvals rising from about 16 million in 2020 to nearly 20 million by 2025, reflecting strong financial support for startups and SMEs. Texas follows with approvals increasing from roughly 13 million to 17 million, driven by expanding business ecosystems and credit accessibility. Florida records steady growth, climbing from 10 million to 14 million approvals during the same period. New York and Illinois complete the top five, reaching about 12 million and 11 million approvals respectively by 2025. Overall, the data underscores continuous nationwide growth in small business financing, highlighting how state-level programs and economic recovery initiatives have fueled entrepreneurship and local job creation between 2020 and 2025.
Free Top 5 U.S. States by Small Business Loan Approvals (2020-2025) Chart
| Labels | 2020 Loan Approvals | 2021 Loan Approvals | 2022 Loan Approvals | 2023 Loan Approvals | 2024 Loan Approvals |
2025 Loan Approvals |
| California | 15 | 17 | 18 | 18.5 | 19 | 20 |
| Texas | 13 | 13.5 | 14 | 14.5 | 15 | 16 |
| Florida | 11 | 11.5 | 12 | 12.5 | 13 | 14 |
| New York | 9 | 9.5 | 10 | 10.5 | 11 | 12 |
| Illinois | 8 | 8.5 | 9 | 9.5 | 10 | 11 |
