Most SBA loans are issued by banks, credit unions and other financial institutions, not the government. But not all SBA lenders are created equal.
It’s important to find an experienced lender with a knowledgeable support team that can help you through the lengthy application and funding process, which can span months.
» Open to non-SBA options? See our full list of the best business loans.
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We'll start with a brief questionnaire to better understand the unique needs of your business. Once we uncover your personalized matches, our team will consult you on the process moving forward.
Best SBA 7(a) lenders
The best SBA 7(a) lenders have ample experience making these loans, an easy application process and dedicated loan specialists who can help applicants. These lenders are often members of the SBA preferred lenders program (PLP), which means faster approvals.
Many national, regional and local banks are SBA 7(a) lenders, including big-name institutions like Bank of America, Chase and Wells Fargo. When looking for an SBA 7(a) lender, try to find one in your area that offers competitive interest rates and loan terms.
🤓Nerdy Tip
If funding time is critical, take a look at SBA Express loans. A subset of the SBA 7(a) loan program, SBA Express loans offer a faster turnaround time but smaller loan amounts.Here are 10 of the best SBA 7(a) lenders based on their loan processing volume, loan approvals and availability.
U.S. Small Business AdministrationSBA 7(a) loan
Max Loan Amount
$5,000,000SBA 7(a) lender | Loan approvals | Average loan size |
|---|---|---|
Huntington National Bank Best for: Underserved business owners. | 2,733 | $381,065 |
Newtek Bank Best for: Application support. | 3,842 | $260,156 |
Live Oak Bank Best for: High-dollar SBA loans. | 1,564 | $1,060,923 |
U.S. Bank Best for: Startups and newer businesses. | 2,207 | $269,357 |
Northeast Bank Best for: Working capital financing. | 2,645 | $187,876 |
Celtic Bank Best for: Variety of use cases. | 945 | $433,948 |
Ready Capital Best for: Flexible financing. | 1,167 | $278,619 |
M&T Bank Best for: SBA Express loans. | 2,169 | $106,553 |
Harvest Small Business Finance Best for: Commercial real estate financing. | 333 | $1,082,959 |
TD Bank Best for: Helpful customer support. | 1,492 | $146,452 |
Data is from the SBA’s 7(a) and 504 Lender Report, accessed July 1, 2026. Figures reflect 7(a) lending activity for fiscal year 2026 to date, which began Oct. 1, 2025. | ||
Huntington National Bank
SBA preferred lender? Yes.
Coverage: Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, West Virginia and Wisconsin.
Best for: Underserved business owners.
Huntington National Bank approved the second-most 7(a) loans and has approved the second-highest total loan amount of any SBA lender so far in FY 2026.
The bank offers SBA loans of up to $5 million, down payments as low as 10% and dedicated SBA specialists who work directly with borrowers to help them start and complete the application process. Huntington Bank is also an SBA Express loan lender.
Additionally, Huntington administers the Lift Local Business Program, which supports minority-, women- and veteran-owned businesses. Through the program, small-business owners can receive financial education courses and other resources, as well as SBA loan assistance.
SBA loans from this program range from $1,000 to $150,000, have no origination fees and have lower credit score requirements. Additionally, Huntington pays the government fees for the borrower.
Newtek Bank
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: Application support.
Newtek is the most active SBA 7(a) lender so far in fiscal year (FY) 2026 by number of loans issued. The company offers business loans, business banking, payment processing, payroll software, business insurance and more.
Through the SBA 7(a) program, Newtek lends to for-profit, U.S.-based businesses with two to three years in business. When applying for one of these government small-business loans through Newtek, you’ll work with the same lending specialist throughout the process and Newtek will complete all required documents and forms for you.
Live Oak Bank
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: High-dollar SBA loans.
Live Oak Bank has approved the most money for SBA lending so far in FY 2026 and has the second-highest average loan size among lenders on this list. This makes it a good option if you have high funding needs.
Based in Wilmington, North Carolina, Live Oak Bank offers an online-based, streamlined application to small businesses across the U.S.
Live Oak provides SBA 7(a) loans of up to $5 million with up to 90% bank financing and typically a 10% down payment. The bank’s minimum credit score is 650.
Additionally, Live Oak is an SBA 504 lender, providing loans of up to $15 million. Using its combination debt financing solution, the bank is able to fund larger 504 and 7(a) projects compared with other lenders.
» MORE: Best large business loans
U.S. Bank
SBA preferred lender? Yes.
Coverage: States with a U.S. Bank branch (largely in the Midwest and Western U.S., with some Southeast presence).
Best for: Startups and newer businesses.
U.S. Bank is a national bank, offering SBA 7(a) loans up to $5 million for equipment, inventory, working capital or acquiring a small business. For loans used to finance commercial real estate, U.S. Bank can directly fund an extra $2 million.
The bank also offers SBA 504 loans with loan amounts up to $12.375 million. Repayment terms are up to 25 years for real estate loans and up to 10 years for equipment loans.
While most SBA lenders prefer borrowers to have at least two years in business, U.S. Bank may offer loans to owners with as little as six months in business (or direct management experience).
» MORE: Best startup business loans
Northeast Bank
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: Working capital financing.
Northeast Bank, based in Portland, Maine, is an SBA preferred lender that offers SBA 7(a) loans up to $350,000 for working capital needs. It also offers equipment loans, commercial real estate loans and business lines of credit.
It currently charges a variable interest rate between 9.5% and 10.5% for its SBA 7(a) working capital loan.
The bank works with a third-party lender service provider to help streamline the 7(a) application process, allowing you to apply entirely online, with fewer documents. For example, you may be able to apply with only your business and personal tax returns and business bank statements. You can find out if you prequalify within minutes before gathering those documents.
The lender also specializes in offering SBA loans for commercial real estate purchases, refinances and expansions, offering up to $5 million in funding.
Celtic Bank
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: Variety of use cases.
Celtic Bank is headquartered in Salt Lake City, Utah. It offers a range of small-business loans that include equipment financing, real estate and construction loans and more.
Celtic Bank’s SBA loan offerings include 7(a) loans and several other loan types that go up to $5 million, plus Express loans that offer up to $150,000.
Celtic Bank’s SBA 7(a) loan can go toward growing, buying or starting a business, buying equipment, refinancing debt, using it for working capital and more.
Ready Capital
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: Flexible financing.
Ready Capital is a non-bank preferred lender based in New York City.
As a non-bank lender, Ready Capital’s lending requirements may be more lenient compared with traditional banks. For example, it may not have strict requirements regarding a borrower’s prior business experience and may be able to fund faster than traditional banks. On its website, the lender highlights how it was able to finance an SBA 7(a) loan for over $1.7 million in 15 calendar days with no money down.
It provides SBA 7(a) loans up to $5 million, with an average loan size of $278,619. Funding can be used for a variety of purposes, including business acquisition and expansion, equipment purchase, working capital or to refinance existing business debt.
Under the 7(a) loan program, borrowers can also use funds to buy, build or renovate commercial real estate.
M&T Bank
SBA preferred lender? Yes.
Coverage: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia, West Virginia and the District of Columbia.
Best for: SBA Express loans.
Headquartered in Buffalo, New York, M&T Bank serves businesses along the U.S. East Coast. It offers SBA 7(a), Express and 504 loan options across a variety of use cases.
M&T Bank has issued more SBA Express loans so far in FY 2026 than any other lender, and offers loans as low as $5,000. This makes it a strong option for business owners with low funding needs that want money quickly.
Harvest Small Business Finance
SBA preferred lender? Yes.
Coverage: Nationwide.
Best for: Commercial real estate financing.
Harvest Small Business Finance is a non-bank lender that specializes in SBA 7(a) and 504 loans for commercial real estate purchases and refinances.
Its SBA 7(a) loan is fully amortizing up to 25 years (that means no balloon payment) and can fund as much as $5 million. The lender also offers financing up to 93% of the property’s value, which could mean a down payment as low as 7%. The company currently holds the highest average SBA 7(a) loan size among lenders on this list.
Other good options for commercial real estate financing are Northeast Bank and U.S. Bank — both of which specialize in commercial mortgages and are included on this list. You can also compare the top SBA 504 lenders below.
TD Bank
SBA preferred lender? Yes.
Coverage: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C.
Best for: Helpful customer support.
TD Bank offers a slew of business loans, including SBA 7(a) loans, with maximum loan amounts of $5 million, and 504 loans with the potential for even higher loan amounts. SBA Express loans are available in amounts up to $500,000.
TD Bank’s SBA 7(a) loans are geared toward business owners focused on growth through real estate purchases, expansions, acquisitions, franchise financing and more.
When NerdWallet reached out to lenders, TD Bank stood out for its customer service. Representatives answered calls promptly and were friendly and helpful when responding to questions.
» MORE: Best franchise financing options
Best SBA 504 lenders
Unlike SBA 7(a) loans, SBA 504 loans are funded in three parts. The typical breakdown goes like this:
- 50% is funded by a bank or credit union.
- 40% is funded by a certified development company (CDC).
- 10% is funded as a down payment (called an equity injection) by the business owner.
Many lenders that offer SBA 7(a) loans also offer SBA 504 loans. As with 7(a) loans, some of the biggest national banks offer 504 loans, including Chase, Bank of America, Wells Fargo and U.S. Bank.
These institutions provide the “bank” portion of the loan and can often help you find a local CDC in your area to fund that portion of the loan.
As of this writing, CDCs in the U.S. approved nearly 4,500 loans under the SBA CDC/504 loan program for over $5.2 billion so far in FY 2026. If you want to find a CDC to work with first, you can use the search tool on the SBA website to find a CDC lender near you.
You might also be able to find a list of CDCs ranked and published by your local SBA office or released in a local business publication. Your CDC will often help you find a third-party bank or credit union to fund the 50% portion of the loan.
Here’s a list of the top 10 SBA 504 third-party lenders with the most approvals so far in FY 2026.
U.S. Small Business AdministrationSBA CDC/504 loan
Max Loan Amount
$5,000,000SBA 504 third-party lender | Loan approvals |
|---|---|
155 | |
Harvest Small Business Finance | 126 |
First Citizens Bank | 112 |
92 | |
Bank Five Nine | 53 |
Glacier Bank | 43 |
Meadows Bank | 39 |
Celtic Bank | 38 |
EverBank | 37 |
Zions Bank | 35 |
Data is from the SBA’s 504 Third Party Lender Activity Report, which was last updated May 31, 2026 as of this publication. Figures reflect 504 lending activity for fiscal year 2026 to date, which began Oct. 1, 2025. | |
» MORE: SBA 7(a) vs. 504 loans
Best SBA microloan lenders
SBA microloans are issued through SBA-approved non-bank, intermediary lenders, typically nonprofit community-based organizations.
Unlike other SBA lenders, microloan intermediaries receive funds directly from the SBA. Then, these lenders manage their own programs and issue SBA microloans to eligible borrowers.
The best SBA microloan lenders largely vary based on region similar to the way CDC lenders work. (That’s also why we don’t offer a list of the top microlenders here.)
As of July 2026, 152 active microloan intermediaries serve all 50 states, Washington, D.C. and Puerto Rico. You can find an intermediary in your state using the microloan list of lenders search tool on the SBA website.
U.S. Small Business AdministrationSBA microloan
Max Loan Amount
$50,000» MORE: Can you have multiple SBA loans?
How to choose an SBA lender
Follow these tips to find and choose the best SBA lender for your needs.
Start with a financial institution you know
Banks and credit unions often prioritize borrowers they have an existing relationship with, so contacting a financial institution where you have a business account (or have worked with before) can be a great place to begin your search.
If you’re a customer at your local bank, even better. According to 2025 data from the Federal Reserve Bank of Kansas City, smaller banks were more likely than larger banks to approve loans for small businesses.
» MORE: How to apply for an SBA loan
Connect with lenders through the SBA lender match system
Through the SBA website, you’ll answer a few brief questions about your business and in two business days, you’ll receive an email with possible lender matches. Then, you can contact the lenders for more information, or the lenders may reach out to you directly.
🤓Nerdy Tip
Many online marketplaces, like NerdWallet Small Business, can also help you access SBA loans. These services make shopping easier by comparing multiple options across SBA partner banks to find the right loan tailored to your business.Make sure it’s a good fit
Before choosing a lender, ask about:
- Interest rates.
- Loan amounts.
- Repayment terms.
- Prepayment penalties.
- SBA loan requirements, such as minimum credit score and time in business criteria.
You can then plug loan details into our SBA loan calculator to compare monthly payments and interest costs across lenders before applying.
Don’t forget to ask about how the application process works. Here are some questions you can ask:
- Will I be assigned a loan specialist to help me throughout the process?
- What’s the timeline for applications and approvals — is it faster than the typical 60 to 90 days?
- Are you an SBA preferred lender?
- Are there any restrictions with how I can use the funds?
- What documents do I need to apply?
- What experience do you have lending in my industry?
This information can help you get a better sense of whether a particular SBA lender is right for your business.
Frequently asked questions
What is an SBA lender?
An SBA lender is a financial institution, often a bank or credit union, that works with the SBA to offer loans to small businesses. SBA lenders issue and service the loans — and then the SBA provides a partial guarantee on the financing.
Who is the top SBA lender?
Live Oak Bank is the top SBA lender based on loan approval amount so far for fiscal year 2026. The bank has approved more than $1.6 billion in 7(a) loans. The top lender based on the number of loans approved is Newtek Bank, which has approved more than 3,800 SBA 7(a) loans so far in fiscal year 2026.
Which banks are SBA-approved lenders?
A wide range of banks are SBA-approved lenders and offer SBA loans. Based on data from fiscal year 2026, some of the top bank lenders that issue 7(a) loans include Huntington National Bank, Newtek Bank, Live Oak Bank, U.S. Bank, Northeast Bank, Celtic Bank, M&T Bank and TD Bank.
Methodology
To come up with our list of the best SBA lenders of 2026, NerdWallet analyzed loan approval data for the 2026 fiscal year from the U.S. Small Business Administration. (Note that the SBA’s 2026 fiscal year started on Oct. 1, 2025 and ends Sept. 30, 2026)
We analyzed companies that offer SBA 7(a) loans based on the following criteria:
- Number of loans approved. The total number of SBA 7(a) loans a lender has approved so far in fiscal year 2026.
- Total loan amount. The total value of all SBA 7(a) loans a company lent small-business owners so far in fiscal year 2026.
- Availability. The number of states a company does business in.
We prioritized lenders with high loan volume and lending amounts, as these point to stronger SBA lending experience and may signal faster approvals for borrowers. NerdWallet also spoke with SBA lender representatives to gather details on availability and other factors.
NerdWallet does not receive compensation from companies in exchange for being included in our list of best SBA lenders. Read more about our editorial guidelines.
Article sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- 1.U.S. Small Business Administration. 7(a) & 504 Lender Report. Accessed Jul 13, 2026.
- 2.Ready Capital. A Business Loan Closes at Lightning Speed. Accessed Jul 13, 2026.
- 3.Federal Reserve Bank of Kansas City. Small Business Lending Survey. Accessed Jul 13, 2026.
