Top SBA Lenders 2017

Top SBA Lenders 2017

Here’s a list of SBA lenders ranked by what’s important to most small businesses. First, do they lend amounts you can qualify for? And second, are they active near you?

Our list – actually 11 different lists – are different from the one that the SBA regularly publishes, which in turn finds its way across social media. That one lists the top 100 banks providing SBA loans, nationally, ranked by total dollar volume. This way of ranking makes sense for the SBA, and the banks.

But it doesn’t make sense for most small businesses! Here’s why.

About 80% of all SBA 7(a) loans are $500,000 or less. But the remaining 20% can go up to $5 million per loan. So if you are ranking by dollar volume, the large dollar loans end up dwarfing the importance of the smaller dollar loans. And most small businesses are not (yet) qualified to get a multi-million dollar SBA loan.

As an alternative, we have at the bottom of this post the Top 100 Banks for SBA Loans Up To $500,000. And we have ranked them according to the number of loans provided, not the total dollars loaned. Because you want to find who’s doing a lot of what you’re looking for, right?

How’d we get these numbers? We took the database of 62,430 SBA approved loans for fiscal year ending September 30, 2017, and we deleted all of the loans over $500,000. That left 49,590 loans – 79.4% of all SBA 7(a) loans if you’re keeping score.

RELATED: SBA 7(a) Loans: Data On Terms From 62,430 Loans

Then we checked the volume of loans of almost 300 banks with significant volume to find the Top 100.

Then we realized: not all banks on the Top 100 are active everywhere in the country. So we went a few steps further and broke down the Top 10 SBA Lenders for each of the 10 SBA Regions.

Some of the Top 100 banks just operate in a single state, like Bank of Rhode Island and Bangor Savings Bank (the latter in Maine). But if you’re in California, you don’t care about Bangor Savings Bank. And if you’re in Maine, you don’t care about Wells Fargo – they might be #1 nationally but they made just 1 small SBA loan in Maine!

What follows is 10 lists of the 10 most active banks – by number of SBA loans – including the region where your business operates.

SBA Region 1

Top SBA Lenders – New England Region

The #1 bank in this region is Eastern Bank. They provide lots of relatively small loans for small businesses. And they are not active outside of this SBA region. In fact, most of their SBA loan activity is focused on Massachusetts.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Eastern Bank 940 $60,792,100 $64,672
2 TD Bank, National Association 388 $18,855,500 $48,597
3 Citizens Bank, National Association 352 $35,648,900 $101,275
4 Berkshire Bank 230 $13,908,800 $60,473
5 Webster Bank, National Association 103 $13,229,400 $128,441
6 Independence Bank 97 $10,085,000 $103,969
7 Rockland Trust Company 92 $8,049,700 $87,497
8 People’s United Bank, National Association 74 $11,312,600 $152,873
9 Leader Bank, National Association 72 $5,778,900 $80,263
10 Santander Bank, National Association 65 $5,739,600 $88,302
10 Bangor Savings Bank 65 $6,329,500 $97,377

 

SBA Region 2Top SBA Lenders – Atlantic

SBA Region 2 is called Atlantic, and includes New York, New Jersey, Puerto Rico and the US Virgin Islands. TD Bank is extremely strong here, with more than 2X it’s closest competitor in small SBA loans.

 

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 TD Bank, National Association 1,649 $89,206,700 $54,097
2 JPMorgan Chase Bank, National Association 681 $72,353,100 $106,245
3 Manufacturers and Traders Trust Company 533 $45,123,200 $84,659
4 Banco Popular de Puerto Rico 234 $20,677,700 $88,366
5 Berkshire Bank 181 $12,162,900 $67,198
6 Wells Fargo Bank, National Association 176 $13,691,700 $77,794
7 Five Star Bank 152 $11,785,800 $77,538
8 ESL FCU 125 $5,174,800 $41,398
9 Santander Bank, National Association 118 $12,365,100 $104,789
10 KeyBank National Association 112 $15,258,000 $136,232

 

SBA Region 3Top SBA Lenders – Mid-Atlantic

Comparatively speaking, the Mid-Atlantic SBA region has a broader spread of SBA loans under $500,000. M&T Bank is #1, and among regional leaders their average loan size is relatively high.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Manufacturers and Traders Trust Company 638 $65,479,800 $102,633
2 TD Bank, National Association 391 $19,200,600 $49,106
3 Wells Fargo Bank, National Association 267 $16,075,000 $60,206
4 The Huntington National Bank 250 $21,814,400 $87,258
5 Citizens Bank of Pennsylvania 158 $16,349,200 $103,476
6 Celtic Bank Corporation 106 $13,606,000 $128,358
7 PNC Bank, National Association 103 $12,274,500 $119,170
8 Independence Bank 91 $9,759,000 $107,242
9 First Home Bank 79 $17,112,000 $216,608
10 Branch Banking and Trust Company 60 $10,171,800 $169,530

SBA Region 4Top SBA Lenders – Southeast

Region 4 is the Southeast, a rapidly growing and highly competitive territory for banks.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Wells Fargo Bank, National Association 879 $55,318,500 $62,933
2 TD Bank, National Association 736 $42,699,200 $58,015
3 Celtic Bank Corporation 306 $40,343,600 $131,842
4 JPMorgan Chase Bank, National Association 300 $35,420,800 $118,069
5 Independence Bank 273 $29,838,500 $109,299
6 First Home Bank 243 $58,630,500 $241,278
7 SunTrust Bank 223 $51,616,800 $231,465
8 Compass Bank 193 $11,504,100 $59,607
9 Stearns Bank National Association 148 $27,601,600 $186,497
10 The Huntington National Bank 119 $15,538,300 $130,574

SBA Region 5Top SBA Lenders – Great Lakes

Region 5 is the Great Lakes. In this area The Huntington National Bank is dominant in a way that few other banks are dominant in small SBA Loans elsewhere in the country. Their volume at #1 is about 6X the volume of the #2 bank.

 

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 The Huntington National Bank 3,305 $274,896,139 $83,176
2 JPMorgan Chase Bank, National Association 523 $57,468,300 $109,882
3 U.S. Bank National Association 419 $45,035,650 $107,484
4 Wells Fargo Bank, National Association 284 $32,086,900 $112,982
5 Fifth Third Bank 207 $23,365,500 $112,877
6 1st Source Bank 181 $14,895,775 $82,297
7 Celtic Bank Corporation 169 $20,055,400 $118,671
8 Citizens Bank, National Association 167 $18,310,500 $109,644
9 KeyBank National Association 147 $22,621,500 $153,888
10 Independence Bank 141 $16,090,000 $114,113

SBA Region 6Top SBA Lenders – South Central

Region 6 is South Central, with Texas dominating the area in terms of business. The top 3 banks for smaller SBA loans are all pretty close to each other. While Compass Bank has larger quantity, Wells Fargo and JP Morgan Chase lend out more dollars because of their higher average loan rate.

For businesses this mean Compass Bank is a great choice for smaller loans, the other two, for larger loans.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Compass Bank 886 $45,591,600 $51,458
2 Wells Fargo Bank, National Association 571 $53,030,100 $92,872
3 JPMorgan Chase Bank, National Association 427 $55,479,100 $129,928
4 Celtic Bank Corporation 142 $17,795,200 $125,318
5 Independence Bank 133 $14,530,000 $109,248
6 Arvest Bank 107 $11,767,100 $109,973
7 Stearns Bank National Association 106 $21,082,400 $198,891
8 Spirit of Texas Bank, SSB 105 $26,978,500 $256,938
9 First Home Bank 101 $24,148,000 $239,089
10 BancFirst 92 $16,629,900 $180,760

SBA Region 7Top SBA Lenders – Great Plains

SBA’s Region 7, Great Plains, is pretty rural so activity is lower versus other regions.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 U.S. Bank National Association 167 $12,048,300 $72,146
2 The Bank of Missouri 79 $12,800,400 $162,030
3 Wells Fargo Bank, National Association 77 $8,400,800 $109,101
4 Simmons Bank 68 $13,004,600 $191,244
5 First National Bank of Omaha 53 $6,010,700 $113,409
6 Commerce Bank 47 $5,618,400 $119,540
7 Independence Bank 44 $4,915,000 $111,705
8 OakStar Bank 43 $4,993,200 $116,121
9 UMB Bank, National Association 38 $4,748,972 $124,973
9 Bankers Trust Company 38 $6,045,600 $159,095

SBA Region 8Top SBA Lenders – Rocky Mountains

Region 8 is the Rocky Mountains, a vast territory that includes both fast-growing urban areas and very rural ones. This is part of Wells Fargo territory. The bank is #1 nationally in small SBA loans, and they are most dominant in the western U.S.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Wells Fargo Bank, National Association 465 $42,508,300 $91,416
2 U.S. Bank National Association 240 $29,045,300 $121,022
3 Zions Bank 188 $21,591,700 $114,849
4 JPMorgan Chase Bank, National Association 165 $23,656,300 $143,372
5 Mountain America FCU 77 $7,736,600 $100,475
6 Celtic Bank Corporation 72 $9,740,900 $135,290
7 KeyBank National Association 62 $10,211,000 $164,694
8 Compass Bank 55 $4,504,000 $81,891
9 Glacier Bank 52 $4,533,200 $87,177
10 First Home Bank 51 $10,371,000 $203,353
10 Bank of American Fork 51 $6,755,200 $132,455

SBA Region 9Top SBA Lenders – Pacific

Region 9 is the Pacific with very fast growing states dominated by California. Once again this is Wells Fargo territory, although JP Morgan Chase lends out roughly equivalent dollars because of their higher average loan size.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Wells Fargo Bank, National Association 1,288 $108,678,550 $84,378
2 JPMorgan Chase Bank, National Association 763 $104,692,550 $137,212
3 U.S. Bank National Association 562 $56,449,000 $100,443
4 Compass Bank 315 $20,784,800 $65,983
5 First Home Bank 247 $60,025,000 $243,016
6 Celtic Bank Corporation 206 $29,528,600 $143,343
7 Independence Bank 199 $23,870,000 $119,950
8 Bank of Hope 184 $27,156,700 $147,591
9 Comerica Bank 149 $16,097,800 $108,039
10 East West Bank 126 $14,719,400 $116,821

SBA Region 10Top SBA Lenders – Pacific Northwest

Finally there’s Region 10 of the SBA, the Pacific Northwest, which goes all the way to Alaska. It’s not a huge SBA region in terms of activity, and here U.S. Bank edges out Wells Fargo in both number and dollar volume of SBA loans under $500,000. But that’s just for fiscal year ending September 30, 2017. It could easily change in the future.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 U.S. Bank National Association 307 $31,644,000 $103,075
2 Wells Fargo Bank, National Association 302 $28,490,200 $94,338
3 Banner Bank 241 $24,393,100 $101,216
4 KeyBank National Association 165 $26,894,900 $162,999
5 JPMorgan Chase Bank, National Association 106 $14,192,196 $133,889
6 Zions Bank 106 $9,215,400 $86,938
7 Washington Trust Bank 85 $9,939,300 $116,933
8 D. L. Evans Bank 75 $6,153,140 $82,042
9 Glacier Bank 68 $8,615,300 $126,696
10 First Home Bank 53 $12,306,000 $232,189

Top 100 SBA Lenders Nationally

SBA Regional Offices

If you want to keep national score, here’s the list of SBA loan providers, ranked by how many loans up to $500,000 were approved in the government’s fiscal year ending September 30, 2017.

Rank Bank Loans up to $500K Sum Small Loans Avg Small Loans
1 Wells Fargo Bank, National Association 4,338 $363,521,950 $83,799
2 The Huntington National Bank 3,674 $312,248,839 $84,989
3 TD Bank, National Association 3,164 $169,962,000 $53,717
4 JPMorgan Chase Bank, National Association 2,986 $365,934,346 $122,550
5 U.S. Bank National Association 1,803 $182,590,150 $101,270
6 Compass Bank 1,456 $84,852,200 $58,278
7 Celtic Bank Corporation 1,219 $158,799,700 $130,270
8 Manufacturers and Traders Trust Company 1,183 $112,226,000 $94,866
9 Independence Bank 1,141 $127,372,700 $111,633
10 First Home Bank 1,048 $246,787,500 $235,484
11 Eastern Bank 940 $60,792,100 $64,672
12 Stearns Bank National Association 659 $130,277,900 $197,690
13 Citizens Bank, National Association 638 $66,638,000 $104,448
14 KeyBank National Association 569 $86,552,900 $152,114
15 Berkshire Bank 452 $37,506,500 $82,979
16 Zions Bank 433 $47,389,300 $109,444
17 PNC Bank, National Association 371 $46,798,900 $126,143
18 Live Oak Banking Company 354 $89,912,500 $253,990
19 Banner Bank 339 $35,349,400 $104,276
20 Newtek Small Business Finance, Inc. 327 $74,830,900 $228,841
21 Fifth Third Bank 307 $36,027,700 $117,354
22 Comerica Bank 305 $32,129,800 $105,344
23 Bank of Hope 287 $48,481,700 $168,926
24 Five Star Bank 269 $39,107,800 $145,382
25 SunTrust Bank 267 $61,481,500 $230,268
26 Spirit of Texas Bank, SSB 262 $68,303,801 $260,702
27 Santander Bank, National Association 234 $21,918,800 $93,670
28 Banco Popular de Puerto Rico 234 $20,677,700 $88,366
29 Citibank, N.A. 219 $14,445,000 $65,959
30 Bank of the West 218 $52,249,300 $239,676
31 1st Source Bank 192 $15,288,905 $79,630
32 United Midwest Savings Bank 191 $31,047,400 $162,552
33 Citizens Bank of Pennsylvania 172 $17,974,300 $104,502
34 First Financial Bank 164 $26,184,300 $159,660
35 Branch Banking and Trust Company 162 $25,279,800 $156,048
36 East West Bank 159 $20,258,400 $127,411
37 Hanmi Bank 155 $31,525,300 $203,389
38 Northwest Bank 147 $17,009,658 $115,712
39 Regions Bank 146 $30,084,800 $206,060
40 Bank of America, National Association 139 $31,152,900 $224,122
41 Arvest Bank 130 $15,018,800 $115,529
42 CDC Small Business Finance Corporation 127 $19,808,260 $155,971
43 ESL FCU 125 $5,174,800 $41,398
44 Byline Bank 121 $40,211,800 $332,329
45 Glacier Bank 120 $13,148,500 $109,571
46 Webster Bank, National Association 116 $15,563,700 $134,170
47 MainSource Bank 112 $15,054,300 $134,413
48 Pacific City Bank 111 $25,127,900 $226,377
49 Chemical Bank 111 $20,130,800 $181,359
50 Simmons Bank 110 $21,118,200 $191,984
51 Fidelity Bank 109 $26,941,500 $247,170
52 United Community Bank 107 $28,722,700 $268,436
53 First National Bank of Pennsylvania 107 $16,666,400 $155,761
54 Central Pacific Bank 102 $3,541,000 $34,716
55 First Bank Financial Centre 101 $19,617,300 $194,231
56 Whitney Bank 96 $14,236,824 $148,300
57 Capital One, National Association 94 $23,642,900 $251,520
58 Mountain America FCU 93 $9,911,400 $106,574
59 BancFirst 92 $16,629,900 $180,760
60 Rockland Trust Company 92 $8,049,700 $87,497
61 Noah Bank 91 $20,171,000 $221,659
62 PeopleFund 91 $9,504,600 $104,446
63 BankUnited, National Association 90 $15,552,800 $172,809
64 Washington Trust Bank 87 $10,687,300 $122,843
65 Horizon Bank 85 $12,591,600 $148,136
66 Commonwealth Business Bank 83 $21,613,000 $260,398
67 Seacoast Commerce Bank 82 $28,922,400 $352,712
68 First National Bank of Omaha 82 $11,469,173 $139,868
69 People’s United Bank, National Association 80 $12,272,600 $153,408
70 Radius Bank 79 $22,626,400 $286,410
71 The Bank of Missouri 79 $12,800,400 $162,030
72 Pinnacle Bank 78 $19,037,300 $244,068
73 NewBank 76 $19,161,000 $252,118
74 Hana Small Business Lending, Inc. 76 $20,777,000 $273,382
75 D. L. Evans Bank 75 $6,153,140 $82,042
76 Community Bank 72 $20,826,100 $289,251
77 State Bank and Trust Company 72 $18,941,200 $263,072
78 Leader Bank, National Association 72 $5,778,900 $80,263
79 Customers Bank 70 $15,758,400 $225,120
80 Community Trust Bank, Inc. 70 $7,387,100 $105,530
81 Summit CU 70 $5,582,400 $79,749
82 New Millennium Bank 68 $14,769,500 $217,199
83 Bremer Bank, National Association 65 $12,333,500 $189,746
84 Bangor Savings Bank 65 $6,329,500 $97,377
85 Frost Bank 63 $12,367,800 $196,314
86 The Bancorp Bank 62 $15,715,100 $253,469
87 CRF Small Business Loan Company, LLC 61 $16,098,900 $263,916
88 Centric Bank 61 $12,356,300 $202,562
89 Main Street Launch 61 $9,373,300 $153,661
90 Bank Rhode Island 61 $5,941,500 $97,402
91 Tri Counties Bank 60 $6,814,000 $113,567
92 Citizens Bank 58 $17,002,973 $293,155
93 BancorpSouth Bank 58 $9,635,500 $166,129
94 Commerce Bank 58 $7,831,000 $135,017
95 Umpqua Bank 56 $14,798,600 $264,261
96 CoBiz Bank 55 $10,598,700 $192,704
97 Trustmark National Bank 55 $4,371,600 $79,484
98 Village Bank and Trust 54 $11,728,000 $217,185
99 Sonabank 54 $8,360,900 $154,831
100 Associated Bank, National Association 53 $4,283,300 $80,817

 

Don Gooding

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