As of the March 31, 2026 SBA FOIA release, 3,047 SBA 504 loans nationwide carry a live workout status — past due, in deferment, in catch-up, or with the SBA guaranty already repurchased — representing roughly $3.5 billion of bank-held first-lien exposure across 53 states and territories. Every 504 pairs a bank first mortgage (~50% LTV at origination) with a CDC/SBA second, so each row below is bank-held collateral in workout.
Counts are loans whose current reported status is 1–9+ months past due, in deferment, in catch-up, or purchased (SBA guaranty repurchased, not charged off). First-lien exposure is the third-party lender share at origination.
| State | Live workout-status 504 loans | Bank first-lien exposure (orig.) | Of which serious (3+ months / deferment / repurchased) |
|---|---|---|---|
| CA | 519 | $595M | 295 |
| NY | 212 | $261M | 108 |
| TX | 180 | $316M | 83 |
| FL | 168 | $191M | 91 |
| GA | 115 | $194M | 45 |
| MA | 113 | $102M | 39 |
| IL | 100 | $104M | 55 |
| PA | 96 | $153M | 39 |
| CO | 96 | $117M | 53 |
| HI | 92 | $71M | 5 |
| MN | 84 | $58M | 47 |
| WI | 79 | $94M | 33 |
| OH | 70 | $68M | 28 |
| VA | 65 | $84M | 23 |
| MI | 64 | $60M | 35 |
| NC | 58 | $60M | 17 |
| PR | 53 | $24M | 32 |
| ME | 53 | $42M | 17 |
| MO | 52 | $51M | 24 |
| NJ | 51 | $90M | 20 |
| UT | 51 | $54M | 25 |
| AZ | 50 | $15M | 38 |
| NH | 48 | $29M | 17 |
| CT | 42 | $59M | 15 |
| IN | 40 | $36M | 17 |
Plus smaller counts across the remaining states and territories. Nationwide totals: 3,047 loans, $3.5B first-lien exposure.
Computed from the U.S. Small Business Administration's public FOIA 504 loan dataset (all approvals, current status fields), March 31, 2026 release. "Live workout status" = loanstatus of past due (any months), deferment, catch-up, or purchased-not-charged-off. Dollar figures are third-party (bank) first-lien amounts at origination, not current balances. Source: SBA FOIA loan data. This table is refreshed with each quarterly release.
What the statuses mean: see guaranty repurchase and the SBA 504 structure. For lenders: how a note sale works.
California leads with 519 live workout-status 504 loans, followed by New York and Texas. Florida has 168.
Not necessarily — many cure through catch-up plans or SBA deferments. But every live status above means a workout desk is carrying the file today.
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