top of page

Top 10 SBA Lenders

One of the most common misconceptions about SBA loans is who does the lending. The Small Business Administration does not make loans. Instead, this government agency guarantees a substantial portion of each loan. In other words, the lender will be protected in the event of a default by the borrower. This creates an incentive for banks, credit unions, nonprofits, and other lenders to make low-interest loans with favorable terms to small business owners who would not otherwise qualify for other low-cost financing options.

If you've decided that an SBA loan is what you need to take your company to the next level, congratulations! 

The next step is to determine which types of SBA loans are best suited to your requirements. Once you've determined which type of SBA loan is best for your company, it's time to find a lender.

Of course, you can always begin with your current financial institution where you have an account. However, as with any other financial product, it's a good idea to look into your options. And there is no better place to begin than with reputable lenders who have experience obtaining SBA loans for their clients.

The good news is that there are many SBA lenders to choose from, ranging from local financial institutions to online options.

The bad news is that It can be difficult to narrow down your options in order to find the best lender for your company.

Fortunately, we're here to assist you by directing you to the top 10 SBA lenders.

SBA 7(a) General Eligibility


  • Businesses that qualify for an SBA loan are typically profitable, cash flow positive, and able to show that they can afford to make the monthly loan payments.

  • Key requirements for loans from $30,000 to $5,000,000 include:

  • Minimum 2 years in business

  • U.S. based business owned by a citizen or lawful permanent

  • Resident who is at least 21 years old

  • FICO of 660 or higher

  • GDSCR/BDSCR >1.15x

  • Minimum annual revenue requirement of $250,000

  • No outstanding tax liens

  • No bankruptcies or foreclosures in the past 4 years

  • No recent charge-offs or settlements

  • The maximum maturities for SBA loans are as follows:

    • 25 years for real estate

    • 10 years for equipment

    • 10 years of working working capital or inventory loan


SBA Express

  • SBA Express loans have a maximum loan amount of $500,000

SBA 504 Loan

To be eligible for a 504 loan, your business must: 

  • Operate as a for-profit company in the United States or its possessions

  • Have a tangible net worth of less than $15 million

  • Have an average net income of less than $5 million after federal income taxes for the two years preceding your application

A 504 loan  can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of: 

  • Existing buildings or land 

  • New facilities 

  • Long-term machinery and equipment

Or the improvement or modernization of: 

  • Land, streets, utilities, parking lots and landscaping 

  • Existing facilities 

This is not an endorsement for these companies so please perform your own due diligence before working with them.

Advertising Disclosure 

Advertising Disclosure

Check Your Personal Credit Scores

Credit is a factor when applying for an SBA loan. Almost all forms of financing require a minimum credit score.

Checking won’t hurt your credit scores. 

Learn about IdentityIQ, which provides Experian, Equifax, and TransUnion™ Reports & Scores and Credit Monitoring


Live Oak Bank

Live Oak Bank has had the honor of assisting thousands of passionate, driven individuals in making their dreams a reality. These unsung heroes aren't in it for the money or the fame. They want to make a difference just as much as Live Oak does.

As one of the last banks to obtain a charter before the Great Recession began, Live Oak emerged from the ruins of 2008 as the first bank to keep the customer at the center of the business model. They redefined banking by putting a new spin on it and focusing on service and technology.

The 7(a) loan is Live Oak Bank's most popular SBA funding option, providing small business owners with up to $5 million with repayment terms of up to 25 years. This lender provides funding for business acquisition, expansion, and refinancing.

The Huntington National Bank

The Huntington National Bank

Huntington Bancshares Incorporated, headquartered in Columbus, Ohio, is a $175 billion asset regional bank holding company. The Huntington National Bank and its affiliates, founded in 1866, offer a comprehensive suite of banking, payments, wealth management, and risk management products and services to consumers, small and middlemarket businesses, corporations, municipalities, and other organizations.

Huntington National Bank customers can apply for three types of SBA loans. This lender offers 7(a) loans for almost any commercial purpose. Huntington Bank offers SBA Express loans to borrowers who want the flexibility of 7(a) loans but don't want to wait months for their funds. These loans have low interest rates, high borrowing limits, and faster approval times. Huntington Bank also offers 504 loans for business improvements and expansions.
Celtic Bank

Celtic Bank

Celtic Bank is a national lender that specializes in USDA loans, SBA 7(a) and 504 loans, express loans, asset-based loans, commercial real estate loans, and commercial construction loans.

Celtic Bank can help you apply for an SBA 7(a) loan with a maximum loan amount of $5 million and a repayment term of up to 25 years. Celtic Bank offers the Celtic Advantage loan, an SBA-backed product similar to the SBA 7(a) loan, for faster approvals. The primary distinction is the maximum loan amount. Borrowers can only receive a maximum loan of $350,000 with this loan. There are repayment terms of up to 25 years available.


Since 1998, Newtek Business Services Corp. has served over 100,000 business accounts in all 50 states. Newtek's goal is to become the definitive destination for business owners across the United States by providing real-time, cutting-edge content and business services.
Newtek provides both SBA loans and traditional term loans, as well as lines of credit. 

Business owners can receive as much as $15 million to be used for a variety of purposes for their businesses. Repayment terms are as long as 25 years. Newtek also provides the Economic Injury Disaster Loans for businesses affected by Covid-19 and other disasters.
Byline Bank

Byline Bank

Join the thousands of other business owners who have trusted Byline Bank to help them achieve their share of the American dream.

SBA 7(a) loans of up to $5 million are available from Byline Bank. Repayment terms for commercial real estate are up to 25 years and up to 15 years for other purposes. Businesses can apply for 504 loans with repayment terms ranging from 10 to 25 years to purchase commercial real estate or equipment.

Businesses looking for a more flexible option can apply for a line of credit through the SBA CAPLines program. Lines of credit of up to $5 million are available and are ideal for business expansion, purchasing inventory, covering payroll, or filling revenue gaps. Repayment terms range from 12 months to ten years.
Wells Fargo Bank

Wells Fargo Bank

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets.  Wells Fargo Bank is one of the most well-known financial institutions in the world. Wells Fargo was founded in 1852 and has grown to serve over 70 million customers with a wide range of personal, small business, and commercial financial products. Business owners seeking the best funding options can use the bank's online services or visit one of its over 8,000 branches.

Wells Fargo provides two SBA loan options for small businesses: 7(a) loans and 504 loans. Borrowers can get up to $5 million with a 7(a) loan. Repayment terms for commercial real estate purchases can be up to 25 years, or up to 10 years for other business purposes.

Ready Capital

Ready Capital is a small business administration (SBA) lender that has been assisting small business owners since 2012. Because this lender is an SBA Preferred Lender, the application and funding processes are streamlined.

You can receive up to $7 million through the 7(a) program through ReadyCap Lending. There is also a loan program for veterans that provides up to $5 million in funding. Both of these options have repayment terms that can last up to 25 years. You must have strong personal credit and a debt service coverage ratio (DSCR) of 1.15 to 1.30 to qualify for any of ReadyCap's SBA programs. 
Key Bank

Key Bank

KeyBank is another of the country's largest banks, with over 1,000 branches and business offices spread across 39 states. Nearly 200 years ago, the bank was founded as the Commercial Bank of Albany, New York. This bank is headquartered in Cleveland, Ohio, and offers financial services to consumers and businesses across the country.

SBA loans are available from KeyBank to small business owners. SBA 7(a) loans of up to $5 million, 504 loans of up to $12 million, and Express loans of up to $350,000 are available from KeyBank. You can also apply for a Working Capital CAPline to receive a flexible line of credit of up to $1 million.
U.S. Bank

U.S. Bank

Since 1863, when it was known as the First National Bank of Cincinnati, U.S. Bank has provided financial services. The bank grew over time, and after several mergers, it became the U.S. Bank that we know today. This bank is one of the top five in the country, offering a wide range of financial products to consumers and businesses of all sizes. It assists its small business customers in a variety of ways, including the issuance of SBA loans.

U.S. Bank serves as a servicer for three popular SBA loan programs. The SBA 7(a) Business Loan has a maximum loan amount of $5 million and repayment terms of up to ten years. The SBA 7(a) Real Estate Loan has a maximum loan amount of $7 million and repayment terms of up to 25 years. Finally, the 504 loan program offers loans of up to $11.25 million with terms of up to 25 years.

JPMorgan Chase

Chase Bank, which was founded over 200 years ago, has approximately 5,000 branches nationwide that offer personal, business, and commercial banking services to consumers and business owners. This financial institution is also one of the country's top SBA lenders.
You can select from a variety of SBA loan products through Chase Bank. The 7(a) loan is appropriate for the majority of situations. The 504 loan program allows you to receive up to $12.5 million for business expansion or improvements. SBA Express loans of up to $350,000 are also available from Chase Bank.

bottom of page