Based on SBA 7a disbursed loans data through 12-31-2019
Updates happen 4 times per year. SBADNA coincides our update cycles with the SBA FOIA data release which happens every 3 months.
The original source of SBA loan data SBADNA collects and continually updates is derived solely from data released by the U.S. Small Business Administration (SBA). The SBA collects individual loan data from the SBA lender/bank approving and providing the loan. Substantial efforts have been made by SBADNA to purge the data of duplicate information and this continues to be an ongoing effort as new data is imported every quarter.
As with most big datasets, the U.S. Small Business Administration (SBA) reported data is imperfect, relying on a bank representative to accurately input the data that the SBA then uses to make public through the FOIA (Freedom of Information Act) requirements. Accordingly, SBADNA or our affiliate websites, cannot make any representation as to the completeness or accuracy of the SBA loan data the SBA provides. Neither the SBA or SBADNA validates or verifies the data the lenders provide.
Sectors and Industries
SBADNA takes the 6 digit NAICS industry code assigned to each SBA loan in the SBA FOIA datasets and connects the first two digits of the code to determine the Sector, the first three digits to determine the Sub-sector, and the first four digits to determine the Industry Group.
NAICS (pronounced “Nakes”) is the acronym for the North American Industry Classification System. NAICS describes NAICS codes this way on its website: “NAICS is a two-through-six-digit hierarchical classification code system, offering five levels of detail. Each digit in the code is part of a series of progressively narrower categories, and the more digits in the code signify greater classification detail. The first two digits designate the economic sector, the third digit designates the sub-sector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry.”