Key finding: Majority women-owned firms made up 19.4% of SBA 7(a) approvals in FY2025. Their share of approval dollars was 14.6%.
The U.S. Small Business Administration recorded 78,078 7(a) approvals in FY2025.
Of these, 15,122 were in its “Female Owned more than 50%” group.
The SBA also recorded $37.29 billion in 7(a) approval dollars. The majority women-owned group made up $5.44 billion.
This left a gap of 4.8 percentage points between the two shares.
SBA 7(a) Approvals for Majority Women-Owned Firms
| Fiscal year | All approvals | Women-owned approvals | Share of approvals | All approval dollars | Women-owned approval dollars | Share of dollars |
|---|---|---|---|---|---|---|
| FY2020 | 42,298 | 6,970 | 16.5% | $22,549,825,700 | $2,732,167,800 | 12.1% |
| FY2021 | 51,856 | 9,103 | 17.6% | $36,536,756,800 | $5,018,562,100 | 13.7% |
| FY2022 | 47,678 | 9,519 | 20.0% | $25,693,805,700 | $3,823,481,500 | 14.9% |
| FY2023 | 57,362 | 12,185 | 21.2% | $27,515,666,000 | $4,464,788,800 | 16.2% |
| FY2024 | 70,242 | 14,620 | 20.8% | $31,124,036,200 | $4,862,469,600 | 15.6% |
| FY2025 | 78,078 | 15,122 | 19.4% | $37,287,816,200 | $5,437,562,800 | 14.6% |
Source: RecurSave analysis of U.S. Small Business Administration FY2025 year-end 7(a) data. The data run through September 30, 2025.
The Gap Was 4.8 Percentage Points
Majority women-owned firms made up 19.4% of all 7(a) approvals in FY2025.
They made up 14.6% of approval dollars.
The gap was 4.8 percentage points.
The dollar share was also lower in every year shown from FY2020 to FY2025.
What the Data Show
These figures measure SBA 7(a) approvals.
They do not show how many firms applied for a loan.
They do not show denial rates.
They also do not show that every approved dollar was paid out.
An approval count is not the same as a count of unique firms.
The data show the mix of SBA 7(a) approval activity. They do not show why the two shares differ.
Method
RecurSave used the SBA's FY2025 year-end 7(a) and 504 Activity Report.
The data came from two sheets:
- 7(a) Approval Count
- 7(a) Approval Amount
The analysis used the SBA group called “Gender - Female Owned more than 50%.”
Approval share:
Majority women-owned approvals ÷ all 7(a) approvals × 100
Dollar share:
Majority women-owned approval dollars ÷ all 7(a) approval dollars × 100
Shares are shown to one decimal place.
Limitations
The SBA says borrower details come from lenders and loan applicants.
These details are given by choice. SBA does not say the data are complete or checked in each case.
The figures cover loan approvals. They do not cover applications, denials or confirmed payouts.
The analysis does not control for loan size, loan use, industry or firm size.
It also does not control for the lender or borrower credit profile.
The data do not show why the two shares differ.
Why the Finding Is Useful
Approval counts and approval dollars show different things.
The count shows the share of all approvals in a group.
The dollar figure shows the share of approved loan value in that group.
Looking at both gives a clearer view.
In FY2025, majority women-owned firms made up 19.4% of 7(a) approvals but 14.6% of approval dollars.