The withdrawn records, by last known status
Every record below appeared in the 2026-03-31 release and is absent from 2026-06-30. The status is the last one SBA published for it. Most withdrawals are ordinary: an approval that was never drawn, a correction, a cancellation. The point is not that removal is suspicious, it is that the public file gives you no way to see it happened.
Where the never-funded approvals were
Approvals last published as undisbursed, then withdrawn, by the state of the borrower. Ranked by approved dollars, with the record count in parentheses.
How this is measured
- Each quarterly SBA 7(a) and 504 release is loaded and retained, rather than replacing the previous one.
- Records are matched across releases on a stable content hash. Where SBA changes the surrogate key without changing the loan (a ZIP backfill, for example), the record is matched to its prior identity and counted as rekeyed, not as one disappearance plus one appearance.
- A record present in the earlier release and absent from the later one is counted as withdrawn, and tagged with the last status SBA published for it.
- Records that cannot be matched with confidence are counted as ambiguous and excluded from the totals above.
Citing this page
These figures are free to reuse with attribution. If you are writing about SBA lending and need a cut we have not published, ask and we will run it.
Common questions
Does a withdrawn SBA loan record mean the business failed?
No. The largest group by far is approvals that were never disbursed: 1,022 records worth $975.7M were last published as undisbursed, meaning the loan was approved and the money was never drawn. Records also leave the file through routine correction, cancellation, and FOIA exemption.
Why can SBA data change retroactively?
SBA publishes a full replacement file each quarter rather than an append-only log. Every release overwrites the last, so a record that is corrected or withdrawn leaves no trace in the official source. Comparing releases is the only way to observe the change.
What does "rekeyed" mean?
249,215 records changed surrogate key between releases without changing substance, largely because SBA backfilled ZIP codes that feed the key. Rekeyed records are matched back to their prior identity so they are not double-counted as one record disappearing and another appearing.
How current is this comparison?
It compares the SBA release dated 2026-03-31 with the release dated 2026-06-30. It is refreshed each time a new quarterly file is published.