No 504 loans at all

Pikeville is a micropolitan area with a striking feature: it has 124 SBA approvals for FY2017 to FY2026, $19.4 million gross, rank 422 of 928, and every one is 7(a), with 0 under 504. Median loan in Pikeville: $74,050. Pikeville reads 0.36x against the national figure. Within Pikeville, half of loans are $30,000 to $174,475. Median loan size is the one metric that marks Pikeville out against the national figure. Brands hold 6.5% of the count.

The asset table is almost empty: limited-service restaurant with 7 loans, against 100 loans outside the classes. Pike County holds 97 loans and Floyd County 27. Two years, FY2020 and FY2022, are withheld in the yearly record, so the picture is incomplete; what is printed shows 16 loans and $1.9 million in FY2017, a low of 9 loans and $1.0 million in FY2023, a peak of 24 loans and $3.1 million in FY2025 and 12 loans and $3.7 million in FY2026. Pikeville dollars are small throughout, with only $19.4 million approved over the whole span.

Pikeville lenders

Community Trust Bank, Inc. holds 93 loans and $13.2 million under 7(a), almost all of the area's 7(a) book, with U.S. Bank, National Association, which has 19 loans and $2.6 million. With no 504 loans at all, there is no 504 lender to list. Pikeville lender figures are SBA's records. Pikeville names hold or held those loans. Pikeville counts show volume only, and Pikeville counts judge no lender or requirement.

Pikeville floors and the study

Pikeville: cancelled after approval at least 12.5% of Pikeville's approvals. The Pikeville window is FY2017 to FY2024. Pikeville counts undisbursed loans for 12.5%. Pikeville charge-offs are withheld. The Pikeville cohort is too thin; Pikeville is not a zero. Open Pikeville loans may raise every Pikeville floor. The July 2023 delineation shapes Pikeville. Pikeville reads each project's county by name. Pikeville loses a loan with no placeable county. Pikeville counts every approval, named or not. Pikeville work should be proportionate to very small tickets: confirm that the site has demand, price the build with care, stress debt service against lean revenue, and compare value with Pike County sales. Daniel Smith, MAI, signs every Pikeville study. Loan Analytics prepares each Pikeville study.

SBA loans in the Pikeville, KY Micro Area

Loans approved, FY2017 to FY2026	124
Gross dollars approved	$19.4 million
Median loan	$74,050
Middle half of loans, from	$30,000
Middle half of loans, to	$174,475
SBA 7(a) loans	124
SBA 504 loans	0
Franchise share of loans	6.5%
Rank among metro and micro areas by loans	422 of 928
Median loan against the national median	0.36x

Cancellation and charge-off

Cancelled after approval, FY2017 to FY2024 approvals (a floor)	12.5%
The same, counting loans still undisbursed as cancelled (a ceiling)	12.5%
Charged off to date, FY2017 to FY2021 disbursed loans (a floor)	withheld

Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.

SBA loans approved in the Pikeville, KY Micro Area, by fiscal year

Fiscal year	Loans	Dollars
FY2017	16	$1.9 million
FY2018	11	$1.9 million
FY2019	14	$898,500
FY2020	withheld	withheld
FY2021	13	$3.1 million
FY2022	withheld	withheld
FY2023	9	$1.0 million
FY2024	14	$2.3 million
FY2025	24	$3.1 million
FY2026	12	$3.7 million

Loans by asset class

Asset class	Loans
Not in any of the 39 asset classes	100
Limited-service restaurant	7

Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.

Most active SBA lenders

SBA 7(a): lenders by loans approved (the current holder of each loan, as SBA reports it)
Lender	Loans	Dollars
Community Trust Bank, Inc.	93	$13.2 million
U.S. Bank, National Association	19	$2.6 million

Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.

Where the loans are, by county

County	Loans
Pike County, KY	97
Floyd County, KY	27

Counties with 5 or more loans; smaller ones are not listed.

Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.

All assets: every 7(a) and 504 approval in the metro, including those outside the 39 asset classes.

A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.

Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MT-38210.

Related feasibility study pages

Worked examples

Worked Example: Conventional Bank Marina Acquisition and Dock Expansion Feasibility Study in Kentucky

A worked example of the feasibility study a lender would read for a marina project in Kentucky, financed with a conventional bank loan.

State: Kentucky · Asset: Marina · Program: Conventional bank loan

Loan Analytics prepares the feasibility study a lender reads before it commits: for a commercial project in the Pikeville, KY Micro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.

Daniel Smith, MAI

Feasibility Study Data for the Pikeville, KY Micro Area